During the Milken Institute Global Conference, Apollo Global Management CEO Marc Rowan expressed his belief that the U.S. economy has achieved a soft landing. This term refers to growth continuing and avoiding a recession despite interest rate hikes by the Federal Reserve.
Despite some mixed responses from the markets to recent economic data, the numbers support Rowan’s assessment. In the final quarter of 2024, the economy grew at a 3.4% annualized rate, defying predictions of a mild recession at the beginning of the year. The U.S. economy also grew by 1.6% in the first quarter of 2025, although it was the slowest pace in almost two years, it is still expanding.
Rowan pointed out that despite a significant increase in interest rates, the economy has remained stable, which is a key characteristic of a soft landing. Apollo’s first-quarter earnings reflect a healthy economy, with total assets under management increasing by 12% year over year to $671 billion, benefiting from $40 billion in inflows. The company also reported record quarterly debt origination volume and an increase in asset management fees.
Apollo Global Management’s shares are performing well, up 22% year to date, outperforming the S&P 500’s gain of 9%. For those interested in staying informed about economic news and indicators, Yahoo Finance provides the latest updates on financial and business news that can help readers stay up to date with industry developments