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. He stated:
Now the top priority is financial stability. And when the top priority is financial stability, then the Fed needs to be absolutely sure that the financial system is stable and financial markets are calm, and that, therefore, that credit is flowing to consumers, to corporates, to residential real estate, commercial real estate, with the idea that if that is not the case, then you are at risk of having obviously a much harder landing.