Welcome from Diana Farrell
When it comes to the global economy, businesses, policy makers, and nonprofit leaders look to the best information available to frame critical issues and determine how to address them most effectively.
It is becoming clear, however, that the best information available isn’t always good enough. Hard data that describe the economy as it truly exists are hard to come by, making it difficult to have a complete understanding of the economy, how individuals and businesses make decisions, and the reach of economic interconnectedness.
Instead of measuring granular transaction-level data, inferences are made from macroeconomic trends. Instead of observing changes in economic behavior, self-reported answers to survey questions drive analyses. As a result, economic policy has relied on inadequate or inaccurate information. And individuals, households, businesses, and other organizations have felt the consequences.
It’s time to use hard data and smart insights to address the complex problems that affect us all. That’s why we established the JPMorgan Chase Institute.
By combining the power of big data with an increased understanding of how social science affects financial behavior, we have an opportunity to understand the economy as it truly exists – using observable data to provide an unprecedented level of detail. With our access to proprietary data, combined with thoughtful analysis from policymaking, academic and business experts, we can help decision-makers understand global economic shifts as they are happening, or even before they occur. As part of our mission, we’ll convene leading economic minds to discuss insights, debate their implications, and draw actionable conclusions.
As the world economy has become more interrelated, it has become even more essential for us to connect the dots. I have spent my entire career using hard data to develop insights that address complex challenges, and I can attest that what we are doing here is truly unique. I am honored to have the opportunity to lead this new organization and deliver data-driven insights that, until now, would not have been possible.
We’re excited to begin.
President and CEO
JPMorgan Chase Institute