 "Mahesh Patil, Aditya Birla Sun Life AMC")
The US Federal Reserve’s hawkish turn will lead to moderation in price-to-earnings (P/E) multiples and remove some frothiness, says Mahesh Patil, chief investment officer at Aditya Birla Sun Life AMC. He tells Chirag Madia in an interview that the impact of the Fed rate increases will be felt more in the short term as after the past rate hike cycles, the market had given positive returns over a 12-month period. Edited excerpts:
What’s the market outlook following the Fed’s hawkish pivot?
Given the rally in the markets in 2021, easy money has already been made. The one-way risk-on rally was
