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Griffin has doubts over longevity of US stock market rally

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Ken Griffin, founder of CDEO of US multi-strategy major Citadel, has expressed doubts over the longevity of the recent stock market rally and has also said he is concerned about the country’s current fiscal situation, according to a report by Reuters.

The report quotes Griffin as saying in an interview with CNBC: “I’m a bit anxious that this rally can continue. I like to believe that this rally has legs. I’m a bit anxious. We’re sort of in the seventh or eighth inning of this rally, but part of it has been the soft landing story.”

The S&P 500 stock index is up 16.8% so far this year, larely on the back of investor optimism over the potential of artificial intelligence technology.

According to Griffin, the US Federal Reserve is probably close to the end of its rate-hiking programme aimed at taming inflation, with just a “small chance” of one more increase later this year, but the timing of future rate cuts remains unclear because of ongoing stimulus measures.

“He’s [Fed Chairman Jerome Powell] showing up in a fight with both of his hands tied behind his back because DC is just on a different agenda than he is,” said Griffin.

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