The US economy is in a Goldilocks period, and the Fed has a 'loaded gun' it can use if conditions worsen, Apollo co-president says

• The Fed has a "loaded gun" it can use if the Goldilocks economy worsens, Apollo Asset Management's co-president said.
• That's as the central back has kept rates high, giving policymakers room to lower them.
• "I would argue that the Fed put is back, sort of, on the market right now," James Zelter told Bloomberg TV.

A year ago, Wall Street was convinced a recession was coming. But as 2023 comes to a close, the US is standing on strong economic data and markets have embarked on a turbo-charged rally.

Should that trend whipsaw, Wall Street is betting that the Fed will step in and lend a helping hand, according to Apollo Asset Management Co-president James Zelter.