CEOs are in distress and consumers fear job losses amid ‘stagflation shock,’ economist warns

A sign says economic uncertainty ahead on a cloudy dark sky (Credit: ronniechua via Getty Images)

• Stagflation is the combination of slow growth and rising inflation and trade wars are a "stagflation shock," according to Apollo Global Management. In a new research note coauthored by chief economist Torsten Slok, the firm predicts a sequence of events that could lead to economic catastrophe.

The recent array of tariffs the Trump administration has announced have the potential to trigger a recession by summer 2025, according to a new report from Apollo Global Management.