Bloomberg Talks
Apollo Chief Economist Torsten Slok Talks "Wait and See" Economy
Mar 14, 2025
Torsten Slok, Apollo's chief economist, dives into the current economic landscape, highlighting the effects of DOGE layoffs on the labor market and the implications of tariffs on consumers. He discusses the challenges of navigating stagflation with rising inflation and slowing growth, and expresses concern over the 'wait and see' mentality gripping consumers and businesses. Slok also emphasizes the importance of upcoming Federal Reserve policies as economic indicators shift from soft to hard data, impacting job creation and overall market stability.
08:38
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Quick takeaways
- The current economy is characterized by a 'wait-and-see' approach, leading to declining consumer confidence and potential slowing growth.
- Tariffs are significantly complicating trade relationships, affecting businesses and potentially resulting in job losses that challenge economic stability.
Deep dives
Impact of Economic Wait-and-See Behavior
Consumers and businesses are increasingly adopting a wait-and-see approach in the current economy, leading to concerning indicators of slowing growth. Recent data shows a decline in attendance at entertainment venues and travel, suggesting that consumer sentiment is weakening. This shift is expected to translate into a slowdown in hard data, as both consumers and corporates exhibit lower confidence in making spending decisions. The prevailing sentiment reflects uncertainty in the market, which may cause economic growth to decelerate further.
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