Market risks in 2024: Analyst explains concerns on inflation, rate hikes, and election surprises

Stocks (^DJI, ^IXIC, ^GSPC) continue their optimism rally while pricing in the Federal Reserve's possible 2024 interest rate cuts ahead of looming inflation risks.
Charles Schwab Chief Global Investment Strategist Jeffrey Kleintop explains how the Fed and global central banks could view inflation's trajectory in 2024, listing economic and commercial headwinds afflicting countries like Japan.
"I'm a little concerned that inflation won't prove as passive as many of the markets and maybe even some of the central bankers are thinking," Kleintop tells Yahoo Finance. "Inflation [has] historically come in waves — we can see that in the '70s, we can see it in the '80s, even in the early '90s when inflation picked up to 5% in countries like the US, the UK, Canada, and Australia.