The US shutdown leaves us with limited visibility at an important juncture in the global outlook. There are reasons to believe that the factors of lift are set to fade and that the factors of drag are intensifying. These are just narratives for now, but keep the risks for a bend-but-not break global outlook skewed to the downside and the Fed in insurance easing mode.

Speakers:

Bruce Kasman

Joseph Lupton

This podcast was recorded on 3 October 2025.

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