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Apollo Global Management’s chief economist Torsten Slok is pushing back against expectations of a cooling U.S. labor market, arguing that economic momentum remains stronger than consensus forecasts suggest.
While Wall Street anticipates September nonfarm payrolls will rise by only 50,000, Slok
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Torsten Slok argues the labor market is stronger than consensus, with continued resilience and improving business indicators, despite consensus expecting weak job growth.
Slok warns inflation pressures remain high, and believes the Fed may need to consider rate hikes instead of cuts, complicating the monetary and investing environment.
Strong air travel, entertainment attendance, and retail sales show resilient consumer and business activity, supporting a case for continued economic expansion.
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