A good week for data delivers some relief on inflation and points to some moderation in growth, both of which are needed to keep central banks on the path toward easing. However, with inflation still elevated and labor markets still hot, more will be needed to put us back on the path to a soft-landing. Easing financial conditions could be too much of a good thing, short-circuiting the journey. This podcast was recorded on 17 May 2024. This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures. © 2024 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.