Apollo: Strong economy may keep the Fed from cutting rates in November

On October 21st, Jinshi data, Torsten Slok, an asset management institution Apollo, expressed in a report that due to continuous data showing that the US economy is still relatively strong, the Fed may change its course, fundamentally not cutting interest rates. He said, “The Atlanta Federal Reserve’s forecast for third-quarter GDP is currently 3.4%, and the bottom line is that the economy will continue to expand.” Slok believes that the economy benefits from favorable factors, including dovish Fed, the end of election uncertainty, and easing geopolitical risks. Slok said that considering these factors comprehensively, the Fed is more likely to maintain the Intrerest Rate in November instead of cutting it.