Apollo chief economist: The Fed could raise interest rates as early as June.

Apollo Global Management's Chief Economist Torsten Slok stated in an email that, based on historical average levels, the Federal Reserve may start raising interest rates as early as June. However, according to data from the CME Federal Reserve Watch Tool, traders believe that the Fed will not raise rates in June and generally do not expect any rate hikes this year. The futures market also shows a 92% likelihood that the Fed will keep the target range at 4.25% - 4.5% unchanged at the March interest rate meeting, with a common expectation for one more rate cut this year. Slok said, "The Fed last cut rates in December last year, and historically, the shortest interval between the Fed's last rate cut and its first rate hike was only 7 months, suggesting that the Fed may raise rates in June." The economist pointed to a chart showing historical periods between the last rate cut and the first rate hike. Last year, with signs of declining inflation, the Fed cut rates three times. However, with inflation progress slowing down and signs of stabilization in the job market, the Fed kept rates unchanged at the January meeting.