Apollo: Strong economy may prevent the Fed from cutting interest rates in November

Torsten Slok of asset manager Apollo said in a report that as data continues to show that the U.S. economy remains relatively strong, the Fed may change course and not cut interest rates at all. "The Atlanta Fed's forecast for third-quarter GDP is currently 3.4%, and the bottom line is that the economy will continue to expand," he said. Slok believes that the economy has benefited from favorable factors, including a dovish Fed, an end to election uncertainty, and easing geopolitical risks. Taking these factors into consideration, Slok said, the Fed is more likely to keep interest rates unchanged in November rather than cut them. (Jinshi)