The US Federal Reserve is always in the spotlight, and that spotlight is brighter than ever in 2026.

In this episode of The Decisive, economist Lawrence Nelson, our resident Fed expert at S&P Global Market Intelligence, breaks down why the central bank is widely expected to keep interest rates steady at its January meeting, and what "sticky" inflation could mean for the first part of the year.

We also examine the leadership uncertainty ahead of Jerome Powell's term as Fed chair ending in May, including how a US Justice Department investigation could complicate the transition—without necessarily changing the Fed's data-driven approach to monetary policy.

The episode offers a quick refresher on the Fed's dual mandate, the key indicators policymakers watch, and how disruptions—such as last year's government shutdown—can impact the data flow the Federal Open Market Committee (FOMC) relies on when setting rates.

Listen now to learn more about what our Fed expert is watching in January and beyond, and gain insights to guide your business decisions in the year ahead.

More S&P Global Market Intelligence Content:

• Listen: The Decisive | Episode 13 - How US Monetary Policy Works
• Top 10 Economic Insights 2026
• The Age of Agility: Key Themes for 2026

For S&P Global subscribers (login required):

• Weekly Economic Commentary
• Inflation indications
• Bubble trouble: Lessons from the dotcom days

Credits:

• Host: Kristen Hallam
• Guest: Lawrence Nelson
• Produced By: Kristen Hallam
• Edited By: Marz Marcello
• Published With Assistance From: Sophie Carr, Feranmi Adeoshun

As global trade faces unprecedented disruption, shippers must rethink everything from cost containment to risk management. In this episode of the Decisive Podcast, host Kristen Hallam sits down with Peter Tirschwell, Vice President for Maritime & Trade at S&P Global Market Intelligence and TPM Conference founder, to break down the theme of TPM26: "Taking Costs Out, Putting Value In."

Together, they explore the far-reaching impacts of U.S. tariff policies, evolving supply chain strategies, and the role of technology in managing costs. Peter shares vital insights on balancing freight rates with service reliability, current best practices for shippers, and what to expect from this year's TPM Conference—including highlights on macroeconomic trends, industry consolidation, and the current dynamics of global shipping.

Whether you're a shipper, carrier, supply chain manager, or simply curious about the forces shaping global trade, this episode will help you navigate industry trends and challenges.

Tune in for an inside look at the biggest topics captivating the container shipping industry in 2026.

Click here to register for TPM26, the world's largest container shipping conference.

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• Asia-Europe ocean carriers add capacity as trade enters peak shipping period
• Geopolitical Risk Brief: December 2025
• Top 10 Economic Insights 2026

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• Egypt opens new semiautomated Red Sea terminal as Suez traffic grows
• Global trade outlook and supply chains
• 2026: The age of agility

Credits:

• Host: Kristen Hallam
• Guest: Peter Tirschwell
• Produced By: Kristen Hallam
• Edited By: Marz Marcello
• Published With Assistance From: Sophie Carr, Feranmi Adeoshun

In this episode of The Decisive Podcast, host Kristen Hallam engages in an insightful discussion with Ken Wattret, Vice President of Global Economics at S&P Global Market Intelligence, about the critical yet often overlooked topic of public debt.

Kristen and Ken explore the significant rise in public sector debt-to-GDP ratios since the mid-2000s, driven by adverse economic shocks, including the 2008 financial crisis and the COVID-19 pandemic.

Ken explains the persistent challenges of high government budget deficits, the political reluctance to implement fiscal changes, and the implications of rising sovereign yields on economic growth. Ken discusses how these fiscal fragilities impact businesses and consumers, the potential for crowding out private sector investment, and the risks of triggering another economic shock.

Listen now for a thought-provoking conversation that highlights the complexities of fiscal policy in today's economic landscape.

More S&P Global Market Intelligence Content:

• The Age of Agility: Key Themes for 2026
• Top 10 Economic Insights 2026
• Fiscal fragilities: Dealing with high debt

For S&P Global subscribers (login required):

• Fiscal fragilities: Dealing with high debt
• 2026: The age of agility
• Inflation indications

Credits:

• Host: Kristen Hallam
• Guest: Ken Wattret
• Produced By: Kristen Hallam
• Edited By: Marz Marcello
• Published With Assistance From: Sophie Carr, Feranmi Adeoshun

In our final episode of 2025, host Kristen Hallam is joined by S&P Global Market Intelligence economists Ken Wattret, Ben Herzon, Hanna Luchnikava-Schorsch, and Thea Fourie to unveil the top 10 economic insights shaping the outlook for 2026.

Discover how moderating inflation, shifting fiscal policies, and global trade dynamics are creating a delicate balance of tailwinds and headwinds across major economies. From the US avoiding recession and Western Europe's subdued growth, to China's pivot to domestic demand and India's resilience amid tariffs, this episode delivers actionable perspectives on emerging trends, risks, and opportunities.

Understand the potential impact of artificial intelligence, evolving monetary policies, currency shifts, and the state of sovereign debt—essential listening for anyone navigating the year ahead.

More S&P Global Market Intelligence Content:

• Top 10 Economic Insights 2026
• The Age of Agility: Key Themes for 2026
• Global Economic Outlook: November 2025

For S&P Global subscribers (login required):

• 2026: The age of agility
• Inflation indications

Credits:

• Host: Kristen Hallam
• Guests: Ken Wattret, Ben Herzon, Hanna Luchnikava-Schorsch, Thea Fourie
• Produced By: Debbie Taylor, Kristen Hallam
• Edited By: Marz Marcello
• Published With Assistance From: Sophie Carr, Feranmi Adeoshun

In this episode of The Decisive Podcast, host Kristen Hallam dives into the intricacies of U.S. consumer spending as the holiday season approaches. Joined by Michael Zdinak, Ph.D., a director in S&P Global's U.S. economics team, Kristen explores the current economic landscape following a recent government shutdown and its impact on vital economic data.

Kristen and Michael discuss the resilience of consumer spending—despite low consumer sentiment—highlighting the factors driving spending behaviors among different income groups. They analyze retail sales trends, the significance of Black Friday, and the growing share of online shopping in holiday sales.

Listeners will gain insights into inflation's effects on purchasing power and the expected growth in holiday sales, alongside a nuanced understanding of how consumers are navigating their financial realities this season. Tune in for a comprehensive overview of the U.S. economy as we head into the holidays.

More S&P Global Market Intelligence Content:

• The Age of Agility: Key Themes for 2026
• Global Economic Outlook: November 2025
• Widening China import-export imbalance soaking up container capacity

For S&P Global subscribers (login required):

• 2026: The age of agility
• Inflation indications

Credits:

• Host: Kristen Hallam
• Guest: Michael Zdinak
• Produced By: Kristen Hallam
• Edited By: Marz Marcello
• Published With Assistance From: Sophie Carr, Feranmi Adeoshun

In this episode of the Decisive Podcast, host Kristen Hallam engages with economists from S&P Global Market Intelligence to unpack the U.S. economic outlook for 2026. The discussion explores key themes influencing growth, including the economic impact of artificial intelligence, evolving labor market dynamics, and the ongoing effects of tariffs on inflation and investment.

Listeners will gain insights into the team's optimistic projections for 2026, driven by reduced policy uncertainty and consumer spending bolstered by recent tax cuts. The economists also address potential headwinds to growth, such as high borrowing costs and the implications of a government shutdown on economic performance.

As the Federal Reserve navigates these challenges, the discussion explores monetary policy decisions, including expectations for rate cuts and the anticipated adjustments in response to inflationary pressures.

With expert analysis and forward-looking perspectives, this episode equips listeners with the knowledge to make informed decisions in a complex economic landscape.

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• The Age of Agility: Key Themes for 2026
• Global Economic Outlook: November 2025
• Stablecoins Explained: A Comprehensive FAQ Guide to Digital Currency Stability

For S&P Global subscribers (login required):

• 2026: The age of agility
• Inflation indications
• US tariff plans

Credits:

• Host: Kristen Hallam
• Guests: Ben Herzon, Patrick Newport, Michael Zdinak, Lawrence Nelson
• Produced By: Debbie Taylor, Kristen Hallam
• Edited By: Marz Marcello
• Published With Assistance From: Sophie Carr, Feranmi Adeoshun

If 2025 was a year of seismic shifts, 2026 will be a year of recalibration to both the aftershocks and the new disruptions we expect to trade patterns, the economy and the geopolitical landscape.

In this episode of the Decisive podcast, we set out our key strategic themes for 2026—adapting to trade realities, shaky economic foundations and shifting asymmetric power in geopolitics. Experts from our multidisciplinary research team unpack the ongoing economic uncertainties, evolving trade policies, and geopolitical dynamics we expect to characterize the year ahead.

Listeners will gain an understanding of the potential impacts of the US midterm elections, the renegotiation of trade agreements, and the strategic competition between major powers, particularly the US and mainland China. The panel highlights the significance of critical minerals and AI technology as national security assets, alongside the challenges posed by financial market volatility and supply chain resilience.

As the world faces a recalibration of trade relationships and economic strategies, this episode provides valuable insights for navigating the complexities of a rapidly changing world. Tune in to stay informed and empowered in your decision-making process.

More S&P Global Market Intelligence Content:

• The Age of Agility: Key Themes for 2026
• Global Economic Outlook: November 2025
• Transshipment: Outlook and implications for ASEAN

For S&P Global subscribers (login required):

• 2026: The age of agility
• Inflation indications
• Red Sea maritime risks

Credits:

• Host: Natznet Tesfay
• Guests: Ken Wattret, Aries Poon, Carla Selman
• Produced By: Debbie Taylor, Kristen Hallam
• Edited By: Marz Marcello
• Published With Assistance From: Sophie Carr, Feranmi Adeoshun

Host Paul Smith is joined by senior economists Pollyanna de Lima and Andrew Harker to explore the latest trends in Purchasing Managers' Indices (PMI) and their implications for the global economy.

They discuss the resilience of global economic growth in 2025 in the face of challenges such as low business confidence, tariffs, and trade uncertainties. The team analyzes the mixed performance across Latin America, with notable expansions in Colombia contrasted by contractions in Brazil and Mexico.

As they shift focus to the future, they explore the findings of the recent Global Business Outlook surveys, highlighting subdued plans for employment and investment amidst geopolitical uncertainties.

The conversation also touches on the rising investment in artificial intelligence (AI) across various sectors, examining how firms are leveraging AI for efficiency, recruitment, and customer acquisition while facing challenges like implementation difficulties and accuracy concerns.

More S&P Global Market Intelligence Content:

• Business investment spending outlook gloomiest since pandemic
• Broad-based deterioration in trade in October
• Global Economic Outlook: October 2025

For S&P Global subscribers (login required):

• US tariff plans
• Trends in the World Economy and Trade October 2025

Credits:

• Host: Paul Smith
• Guests: Andrew Harker, Pollyanna De Lima
• Produced By: Kristen Hallam
• Edited By: Marz Marcello
• Published With Assistance From: Sophie Carr, Feranmi Adeoshun