Apollo chief economist bluntly states that Walsh's interest rate cut is hindered: AI infrastructure boom will exacerbate inflation in the early stages Odaily Planet Daily News: Torsten Slok, Chief Economist of Apollo Global Management, Inc., bluntly stated that the AI infrastructure boom will exacerbate inflation in the early stages, making it difficult for the new Federal Reserve Chairman Kevin Walsh to cut interest rates as quickly as expected. He said, "We may need to wait a little longer because the AI boom will inevitably push up inflation in the early stages. ”He pointed out that semiconductor, energy, and labor prices all show clear signs of inflationary pressure. This judgment strikes at the core contradiction behind the prosperity of AI: although supporters vigorously promote its economic growth potential, the impact of technology has penetrated into various aspects such as the labor market and monetary policy. The market's concern about AI causing unemployment is exaggerated, but the scale of capital invested in AI infrastructure is unprecedented. US tech giants plan to invest up to $725 billion in capital expenditures this year, primarily for the procurement of AI data center equipment. Walsh previously advocated that the productivity improvement brought by AI would pave the way for loose monetary policy. His predecessor Powell was fiercely criticized by Trump for not meeting his demands in terms of the pace and intensity of interest rate cuts. (Golden Ten)