AI | Torsten Slok Says AI Spending Has Been Critical for the US Economy

AI hardware continued to drive August's increase in import prices, as it has throughout the year, while commodity-price volatility from the Iran war lifted the cost of industrial materials at the border, according to Bloomberg. Companies are facing higher input costs and rising expenses tied to the AI buildout. Torsten Slok, chief economist at Apollo Global Management, discussed the Fed's rate decision and said AI investment has played a role in supporting the US economy.