Apollo CEO Marc Rowan: There's no need for another rate cut from the Federal Reserve

Core Viewpoint - The economy may not require further rate cuts from the Federal Reserve, as indicated by Apollo Global Management's CEO Marc Rowan, who believes current data does not support the need for cuts [1][2]. Economic Context - The Federal Reserve recently cut rates by 25 basis points, marking the third cut of 2025, while market forces are expected to remain inflationary in the long term [2][3]. - Global governments are borrowing unprecedented amounts, and factors such as immigration reform and tariffs are contributing to inflationary pressures [3]. Company Performance - Apollo's third quarter results showed a favorable environment for risk assets, particularly in private credit, reflecting a resilient US economy [4]. - The company reported third quarter earnings that exceeded analyst expectations, with total fee-related revenue increasing by 23% year-over-year to $652 million, surpassing the expected $626.6 million [5]. - Adjusted net income rose by 20% to approximately $1.36 billion, or $2.17 per share, while Wall Street had anticipated $1.90 per share [5]. - Apollo's shares have increased by 14% over the past month, significantly outperforming the S&P 500, which gained only 1% [5].