After generating its worst performance in more than a decade, the stock market came roaring back in 2023. Each of the major market indexes surged more than 20% from their respective recent lows, leading some market commentators to conclude that we're in the throes of the next bull market (the criteria is disputed).

Yet the persistent specter of inflation, the Federal Reserve Bank's relentless campaign of rising interest rates -- designed to quash rampant inflation -- and concerns regarding a potential recession kept some investors on the sidelines even as the markets rush forward.

Some on Wall Street still expect a recession later this year, but one noted economist said he believes the financial landscape has changed, the Fed's campaign of interest rate hikes is nearly over, and fears regarding a recession are overblown.

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Source Fool.com