Trump's bet: AI does to the 2020s what the internet did in the 1990s, and nominee Kevin Warsh runs the Fed loose enough to let it. Dario Perkins of TS Lombard calls the administration's Greenspan hist

What happened: Apollo Global Management chief economist Torsten Sløk said interest rates are unlikely to fall while the AI capex boom continues, because expected AI returns exceed the fed funds rate. Key numbers: 10-year Treasury yields up about 125 basis points over the past year. Sløk cited expected AI returns above 10% versus a 4% fed funds rate. Why it matters: Sløk said the AI spending boom is not sensitive to interest rates, so tighter policy is losing its bite. He sees the direction for rates as higher, with fiscal challenges and heavy Treasury issuance adding to the term premium.

Economist links continued rate hikes to AI boom, signaling tech-driven inflation pressure.

Economist links continued rate hikes to AI boom, signaling tech-driven inflation pressure. — impact context not separately stored; see What changed.