AI Spend Has Been 'Critical' for US Economy, Says Torsten Slok

AI hardware continued to drive August’s increase in import prices, as it has throughout the year. Commodity-price volatility from the Iran war raised the cost of industrial materials at the border. Companies face higher input costs and rising expenses tied to the AI buildout. Torsten Slok, Chief Economist at Apollo Global Management, discusses the Fed's rate decision and role AI investment has played in supporting the US economy. (Source: Bloomberg)