Torsten Sløk, Apollo's chief economist, predicts a zero percent chance of a US recession in 2025, despite stronger-than-expected 2024 economic growth.

He identifies key risks for 2025 including potential tariffs, Nvidia's earnings performance, and a possible inflation rebound leading to higher interest rates.

While Sløk notes some upside potential, including further economic acceleration, the most significant downside risk is seen as an inflation surge causing the Federal Reserve to raise interest rates, contrary to current market expectations.

Overall, the article presents Sløk's outlook for 2025, highlighting both potential positive and negative factors for the US economy and markets.