Nora Szentivanyi and David Mackie discuss why the Delta wave has been more benign than expected and whether we are getting close to an endemic equilibrium.

This podcast was recorded on October 1, 2021.

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

https://www.jpmm.com/research/content/GPS-3872999-0

https://www.jpmm.com/research/content/GPS-3866225-0

https://www.jpmm.com/research/content/GPS-3859107-0

for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2021 JPMorgan Chase & Co. All rights reserved.

Although US real GDP is currently estimated to stand 2% above its pre-pandemic level, employment is still 3% from its pre-crisis norm. We discuss our latest research on US labor markets focusing on the roles that a shift in the composition of demand, pandemic-related supply shocks, and the recent removal of enhanced unemployment benefits play in impeding labor market healing.

Featured in this podcast:

Bruce Kasman

Jesse Edgerton

Joseph Lupton

Peter McCrory

This podcast was recorded on September 29, 2021.

This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-3868316-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2021 JPMorgan Chase & Co. All rights reserved.

Malcolm Barr discusses recent shifts in expectations about the Bank of England, and the recent hike in rates by the Norgesbank, with Allan Monks and Morten Lund.

This podcast was recorded on 27 September 2021.

This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures. © 2021 JPMorgan Chase & Co. All rights reserved.

Downside risks for China have increased against the backdrop of a slowing in activity indicators and rising concern that recent regulatory policies will further weigh on growth. Although we believe that spillovers from rising credit stress will remain limited, the latest developments raise questions about the commitment and capability of policymakers to quickly boost growth. 

Any disappointment in China would have knock-on effects for global growth, but they are likely to prove modest in an environment in which cyclical momentum elsewhere remains strong and China’s policy shifts and credit overhangs are not indicative of broader global developments.

This podcast was recorded on September 22, 2021.

This communication is provided for information purposes only.  Please visit www.jpmm.com/research/disclosures for important disclosures. © 2021 JPMorgan Chase & Co. All rights reserved.

Malcolm Barr, Head of Western European Economics, is joined by Greg Fuzesi, Head of Euro Area Economics, to discuss yesterday’s ECB decisions and look ahead to elections in Germany later this month.

This podcast was recorded on Sept 10, 2021.

This communication is provided for information purposes only.  Institutional clients can view the related report at www.jpmm.com/research/content/GPS-3804931-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2021 JPMorgan Chase & Co. All rights reserved.

Food price inflation is accelerating globally (ex. China) and is now running at a faster pace than overall CPI. While weather and commodity price moves often explain food price moves the current pickup appears linked to the same pandemic related pressures raising core inflation. As a result it is a signal of broadening inflation pressures and a broadening drag on growth as bottlenecks and rising input costs generate a purchasing power squeeze. However, in contrast to 2010-11, most central banks are likely to view this as a transitory inflation impulse for now.

This podcast was recorded on September 8, 2021.

This communication is provided for information purposes only.  Institutional clients can view the related report at www.jpmm.com/research/content/GPS-3855988-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2021 JPMorgan Chase & Co. All rights reserved.