With the near-uninterrupted 17% rally from the 2023 lows in March taking domestic benchmark indices to record highs and pushing share valuations to elevated levels, there are concerns that the market may be overheated in the near term which could result in foreigners moderating their purchases of local stocks.
Fed’s Jefferson urges patience on rates; Kashkari sees more hikes ahead
Federal Reserve Vice Chair Philip Jefferson stated that he sees no immediate need for further interest rate adjustments. He emphasized that future decisions would depend