2025 Outlook: Arvind Sanger sees global markets recovering as US faces headwinds

​With the US, a lot of good news is discounted and we could have some challenges and the challenges could be that inflation might make a reappearance. It may not be quite as smooth exit as the Fed has been hoping in terms of continue to lower rates, so I think we could see not much more room for the Fed to cut if inflation gets stubborn and stuck a little bit higher.