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- The US will keep growing for several quarters, but 2025 will see a hard landing, Apollo's Torsten Slok told Bloomberg TV.
- Debt is fueling the growth, and both consumers and corporations are already feeling distress.
- These problems will come to the forefront when unemployment starts to meaningfully rise.
The US economy will stay afloat through the next few quarters, but growth drivers could turn into headwinds as soon as next year, Torsten Slok said.
According to the Apollo chief economist, that's because current strength stems from high debt loads, both among US consumers and the corporate world. Eventually, those trends will start to falter, triggering a hard landing in 2025.