Apollo's Slok: Economy Not Slowing Down, Fed Won't Cut Rates

Torsten Slok, Apollo Global Management partner and chief economist, says the economic tailwinds continue to be strong and the Federal Reserve will stay higher for longer on Bloomberg Television.

[johnnyq]

Not slowing down my ass... They are cooking the books.

[briancolla]

I hear everyone blaming the Fed but they forget the amount of fiscal stimulus from deficit spending by Congress.

[crazylegsgio]

OF COURSE THE ECONOMY IS NOT SLOWING DOWN ...DEFICIT SPENDING IS DRIVING GROWTH ....DOH!! SPEND 1.6 DOLLARS TO GET 1 DOLLAR OF GROWTH

[mb]

Liquidity from government spending is pretty huge, which is why the market won't go down.

[NotyourBusiness-urto]

There are a lot of uncertainties in the market, Don’t know if its the right time to liquidate $900k . Totally confused.

[egyoac]

FED shall need to cut rates from June or will need to bail many banks out!

[PhilippBlum]

As if telling everyone things are going great is going to fix anything. People are not stupid, they know that their groceries were half of what they are now just a year ago.

[careerdog]

It would be awesome if he shook his fists when he talked about the “struggle” and had a small mustache

[harleymandk]

Apollo got money in the bust SAS in Denmark....and Torsten Slok is Danish... wonder why !
please note : "Shares in Scandinavian Airlines plunge to become almost worthless after rescue deal announced"

[AlexAngelo]

Torsten is definitely speaking more faster than the FED cuts.

[bmlotus]

This is with intent. Smoked private business. Micro businesses are toast. But I ask, are these guys so important and so busy that they cant take the time to shave in the morning. Is it now best to look like a slob?

[nickvin]

The economy is absolutely slowing, but rates need to stay higher for longer.

[boosted]

So insane how disconnected you all are from the actual economy. People are getting laid off in masse, people are unable to find full time jobs. Just because the rich are getting richer doesn’t mean the poor aren’t getting poorer.

[authoredens]

His speech is hypnotic, driven in part by his conviction in his thesis.

[peterbedford]

Cuts are coming. Too many banks have terrible CRE debt and 1% treasuries.

[deepbluefl]

This guy talks real fast and says a lot. You got to pay attention. I like it.

[thomas]

More people retiring but still buying stuff, fewer people entering the workforce making that stuff. Obviously inflation will persist.

[jaym]

Don't worry. If FED can't stop inflation, consumers will.

[dushmaestro]

What absolute nonsense. This guy had no clue. He’s saying equity financing somehow magically has cost of capital that is uncorrelated to fed funds rate which is absurd unless he’s saying equity financing is coming from some alternate economy like the drug money market

[KungPowEnterFist]

There has been no QT this cycle. The funds rate is still not restrictive, and their balance sheet unloading rate has been a joke. At no point were financial conditions actually tight over the last couple of years. But go ahead and keep pretending the job market is falling apart and that inflation is defeated.