This article first appeared in The Business Times.  Last year was a surprising year in so many ways. Who could have predicted a 20% rise in stock markets for the broad global stock markets, 26% rise in the S&P 500 Index and the Nasdaq rebounding by 55%. This is against the backdrop of the fastest interest rate hikes by the Fed in over four decades. What was even more surprising was how resilient and strong the US and global economies remained throughout that period. Most people may not remember this, but as 2022 came to a close and we entered 2023 this time last year, there was a plethora of forecasts in the markets about how interest rates have likely peaked. The forecasters spoke with a common voice that inflation was starting to come down and so interest rates will start to fall and the Fed will likely cut rates during 2023....