Squawk on the Street SOTS 2nd Hour: Apollo's Chief Economist, "Why The Fed Shouldn't Cut", and EchoStar Shares Lift-Off 9/8/25
Sep 8, 2025
In this lively discussion, Torsten Slock, Chief Economist at Apollo Global Management, shares his insights on inflation and AI adoption's transformative impact on the economy. Joining him is Rooshir Sharma, Chairman of Rockefeller International, who delves into the ramifications of the Federal Reserve's easy monetary policy. The conversation explores concerns about the Fed's credibility amidst political pressures and the significant trends shaping the tech sector, particularly in relation to Apple's innovations and telecom dynamics.
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Credibility Risk From Political Pressure
- Ken Griffin warns political pressure on the Fed risks higher inflation expectations and weaker investor confidence.
- Eroding central bank credibility can raise borrowing costs for the U.S. and harm the economy.
Fed Faces Conflicting Signals This Week
- Torsten Slock says weak jobs data and potentially higher CPI create a policy conflict for the Fed next week.
- A CPI upside surprise would complicate decisions since employment and inflation signals diverge.
Watch Inflation Expectations, Not Just CPI
- Expect the Fed to emphasize inflation expectations over current readings in their deliberations.
- Monitor inflation-expectation metrics as they will likely guide the Fed more than one month's CPI.