On Tuesday, Apollo Chief Economist Torsten Slok issued a warning that if the Federal Reserve kept interest rates unchanged, the US economy would experience a "hard landing" next year, and the US stock market could repeat the brutal decline of 2022. Despite his warnings about the risk of a high interest rate environment for the Federal Reserve, Slock also expects the Fed not to cut interest rates as soon as possible. He predicts that the Federal Reserve may maintain high interest rates for at least one to two quarters in the future to achieve the goal of cooling the economy. Of course, this will also increase the downside risk faced by the US stock market.