The stock market has been performing strongly and is nearing its all-time highs, with tech stocks leading the rally. However, there are concerns among investors regarding inflation, banks, the Federal Reserve (Fed), and geopolitical risks. The Fed intends to keep rates high in response to high inflation, particularly in food and shelter, which affects consumers. The market remains skeptical about how much higher the Fed will raise rates, which will depend on the path of inflation and the health of the financial sector. Developed markets have lagged behind U.S. markets for over a decade, and they have faced challenges due to the pandemic, inflation, rising rates, and geopolitical risks. Despite the economy slowing down due to inflation and Fed tightening, a recession has not yet occurred. The economy experienced a sharp recovery after the pandemic, with historic growth rates, and it grew steadily over the previous decade following the global financial crisis.