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Apollo’s Slok Says Bank Crisis Will Tip US Into Hard Landing

  • After SVB, ‘we all had to go back to our drawing boards’
  • ‘Magnified effect’ from bank pullbacks and Fed rate hikes
Torsten Slok
Torsten SlokPhotographer: Christopher Goodney/Bloomberg

If you asked Torsten Slok a week ago how the economy was going to fare this year, he would have told you he was expecting a no-landing scenario, whereby the Federal Reserve would tame inflation without triggering a downturn.

But all has changed following the collapse of three US banks over a matter of days. The chief economist of Apollo Global Management now says he’s bracing for a hard landing. He joined the What Goes Up podcast to discuss his changing views.