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The cyclical momentum into year-end is losing some steam at the start of the year—how much so is debatable. Uncertainties around US policy are the key risks to the outlook. Looking through the range of Trump policy initiatives, the balance of risks looks to be tilting more negative—again, how much so is debatable.

Speakers:

Bruce Kasman

Joseph Lupton

This podcast was recorded on 21 February 2025.

This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/researc

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