Apollo's chief economist defies Fed’s hawkish pivot; no rate hikes this year despite ‘dramatic turnaround’

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Toward the end of last year, there were predictions that the Federal Reserve would cut interest rates several times; the number six was floating around. But at the moment, with inflation proving to be more stubborn than expected, the market is only pricing in one rate cut in September, according to Apollo Global Management’s chief economist, Torsten Slok.

“It’s quite a dramatic turnaround,” Slok said on CNBC yesterday.