Global Data Pod Weekender: Keep it simple: It’s about energy

We view the macro economic impact of Russia’s invasion of Ukraine largely through the lens of the energy sector where Russia accounts for more than 10% of global production. So far, sanctions have spared the energy sector and potential additional supply is in the offing from Iran. While risks will remain high – and risk premium maintained in crude oil and natural gas prices – this week’s events are prompting modest downward revisions to growth and upward revisions to inflation forecasts. Speakers: Bruce Kasman Jahangir Aziz This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures. © 2022 JPMorgan Chase & Co. All rights reserved.