Defying Gravity: A Lookback at 2025 & Deep Dive Into The Macro Forces Shaping 2026

Is the global economy stronger than it looks or more fragile beneath the surface? If you’re trying to reconcile booming markets with rising geopolitical risk, this week’s episode brings an important perspective.

I sat down with Chris Zhang, Partner & CIO of Ascend Interplay, to break down the real forces shaping 2026:

• How AI is shifting from a narrative to a measurable economic impact
• Why labor markets may determine where we go next
• Global structural shifts that are underway - from escalating Middle East tensions to the rise of protectionism - and what they imply for supply chains, inflation dynamics, and U.S. debt sustainability.

Big thanks to Chris for a thoughtful, data-driven discussion.