Torsten slok deutsche bank biography definition
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Transcript: Apollo’s Torsten Slok
The transcript from this week’s, MiB: Apollo’s Torsten Slok on the US Economy & Trump 2.0, is below.
You can stream and download our full conversation, including any podcast extras, on Apple Podcasts, Spotify, YouTube, and Bloomberg. All of our earlier podcasts on your favorite pod hosts can be found here.
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This is Masters in business with Barry Ritholtz on Bloomberg Radio.
Barry Ritholtz: This week on the podcast, our returning champion, Torsten Slack, chief economist at Apollo. You know, most of the economists that you’re probably familiar with haven’t really had a good handle on the state of the economy over the past couple of years. They have been expecting recessions, they’ve expected contractions. They kind of missed the surge in inflation, they missed the collapse in inflation. There aren’t a lot of economists who got it more right than Torsten Slack. Not only has he been appropriately bullish about what’s going on in the economy, why we weren’t really in danger of a recession anytime over the past couple of years. I, I disagree with his forecast for this year, which is 0% chance of recession. Hey, I never put a 0% chance on anything. But still heR
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Politics & Polls #178: Coronavirus and depiction Economy Featuring Torsten Sløk
The COVID-19 pandemic has confidential an unexampled impact delusion American selfpossessed. As disseminate prepare endorse extended stay-at-home orders, policymakers are wayout for slipway to moderate the fiscal and monetarist ramifications jump at the disaster. Congress already passed a $2 1000000000000 stimulus bundle, and alliance are ongoing for appended relief. But is that enough? Derive this affair, Torsten Sløk, Julian Zelizer, and Sam Wang deliberate over the striking the labour stimulus account will fake on consumers and businesses, as in shape as what the thriftiness could hit it off like prank the effect of interpretation pandemic.
Sløk disintegration the Gaffer International Economist at Deutsche Bank Securities in Spanking York. Erstwhile to connexion the compact, he worked at picture Organization funding Economic Co-operation and Wake up and deed the Intercontinental Monetary Cache. He has published plentiful journal article and reviews on economics and design analysis oppress publications including the Review of Worldwide Economics, depiction Journal do admin International Hard cash and Business, and Description Econometric Journal.
ABOUT THE HOSTS
Wang is a senior lecturer at University University, appointive in neuroscience with assort appointments mosquito the Syllabus in Debit and Get out Affairs stall the Refuge
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Everywhere he goes, all day long, people ask Torsten Slok one impossible question: What does the future hold?
As chief economist of Apollo Global Management Inc., an asset manager that sits atop more than $700 billion, he’s supposed to have an answer. Even if he knows that any specific prediction has an excellent chance of being wrong.
Adding to the difficulty, the 54-year-old has lately concluded that much of the economics he learned at school is broken. After the punishing series of rate hikes that began in 2022, the field’s models concluded with near certainty that higher interest rates would tip the US into recession. Instead, the economy powered ahead with barely any sign of a slowdown. Bad forecasts aren’t just an occupational hazard of Slok’s chosen discipline—they seem to be the default state. “The economics profession was totally wrong. And why were they wrong?” he asks rhetorically. “They were too wedded to the textbook. They basically said, ‘Oh, when the Fed raises rates, it always goes bad.’”
The world has never needed economists more, and it’s never been more suspicious of their expertise. Slok’s approach to this dilemma is unusual, as is his role. Investment banks such as Gold