EconomyTorsten Slok Says AI Spending Has Been ‘Critical’ to US Economy

Torsten Slok, chief economist at Apollo Global Management, says AI hardware continued to lift import prices in August. Commodity-price volatility linked to the Iran war raised the cost of industrial materials, while companies faced higher input expenses tied to the AI buildout. Slok also discusses the Fed’s rate decision and AI investment’s support for the US economy.