Global Data Pod

Greg Fuzesi speaks with Allan Monks about the Western European economy. 

 

This podcast was recorded on June 19, 2026.

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© 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party.

Growth resilience through 2Q, hints of a deal to get oil flowing through the Strait, and signs of firming labor markets raise the question of shifting growth risks to the upside for 2H26. A reassessment of growth and inflation risks is, in turn, sparking a rethink in central bank policies.

 

Speakers:

Bruce Kasman

Joseph Lupton

 

This podcast was recorded on 12 June 2026.

This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures.  © 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party.

Despite the purchasing power squeeze from the Middle East conflict, the resilient cycle has dominated the macro landscape. Business spending on capex and hiring looks be broadening out, supporting our thesis that the cycle owes more to fading business caution than to a narrow AI boost. How well the supply side of the economy can keep pace with firming demand will tell the tale for central banks, including the Fed—which is likely to shift toward a neutral stance this month.

 

Speakers:

Bruce Kasman

Joseph Lupton

 

This podcast was recorded on 5 June 2026.

This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures.  © 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party.

The global expansion is showing resilience to the energy shock as the pre-war cyclical lift we have anticipated is absorbing the loss of purchasing power. As we enter week 14 of the Strait remaining closed, should we feel better, worse, or have the same degree of caution? If the Strait opens, will the cycle accelerate or are there headwinds to still worry about for 2H26? And if not, what should this mean for central banks?

 

Speakers:

Bruce Kasman

Joseph Lupton

 

This podcast was recorded on 29 May 2026.

This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures.  © 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party.

Nora Szentivanyi is joined by Raphael Brun-Aguerre and Michael Hanson to discuss takeaways from the latest CPI reports and signals for the path ahead. Surging energy prices pushed global headline inflation up further to 3.4%oya in April, bringing the gain since February to 1%-pt. The three-month annualized headline CPI rate jumped to 6.0%––its strongest pace since 2022––with energy prices alone adding 4%ar. Core inflation has remained sticky around 3% but we see growing risks of a break higher amid a mix of goods sector cost pressures, tightening labor markets, and firm pricing power. The signals on services inflation are mixed, with surveys suggesting a sharp loss in demand growth alongside a jump in prices.

 

This podcast was recorded on May 28, 2026.

This communication is provided for information purposes only.  Institutional clients can view the related reports at

https://www.jpmm.com/research/content/GPS-5313158-0 

https://www.jpmm.com/research/content/GPS-5308513-0 

https://www.jpmm.com/research/content/GPS-5309828-0 

https://www.jpmm.com/research/content/GPS-5300334-0 

for more information; please visit www.jpmm.com/research/disclosures for important disclosures.

© 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party.