Don Curren 🇨🇦🇺🇦1 Torsten Slok, chief economist, Apollo Global Management: When the #Fed began hiking in 2022, traditional #rate-sensitive #sectors like #officeconstruction rolled over quickly. But #datacenter #construction continued to surge, as #investors …
2 Torsten Slok, chief economist, Apollo Global Management: … and #hyperscalers judged that #AI-driven returns would exceed the higher cost of #capital.
In effect, one of the traditional channels through which #monetarytightening slows activity, a pullback in #commercialconstruction …🧵
3 … has been partially offset by structurally strong #demand for #digital #infrastructure. High expected returns and strategic capacity needs in data centers help explain why tighter monetary policy has cooled the economy less than in past cycles. 🧵
4 Combined with the positive #growth impulse from the #OneBigBeautifulBill, we expect #economic growth to remain firm through 2026.
I Heart NoiseSame economic growth that led to high gas prices?
Those people are insufferable...geez