Prime Minister Modi’s calls for energy conservation highlight India’s external vulnerability and fiscal strain due to elevated oil prices. JPMorgan’s Sanjay Mookim notes this disruption’s prolonged nature, impacting corporate earnings and potentially dampening consumption and capex momentum, shifting market focus to defensives.
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