Celebrating the stories of inclusivity, passion, and resilience of those who rise to the challenge and inspire us every day

Melita: April is Autism Inclusion Month here at the firm. To learn about the strides JPMorgan Chase has made to create a more neurodiverse workforce, plus to hear firsthand experience from and employee with autism, we're joined by Global Head of Neurodiversity, Bryan Gill, and Corporate and Investment Bank Senior Associate, Kym Francis. Thank you both for joining us today.

Kym: Thank you, Melita. It's really exciting to be here.

Bryan: Yeah. Thank you for including me.

Melita: Bryan, let's start off with you. JPMorgan Chase's Autism at Work program began with a handful of employees in 2015. Can you talk about the program's progress and how the firm intends to attract even more neurodivergent talent to the firm?

Bryan: Program started in 2015 with a couple of very inspired colleagues. It started in Technology. But it did not take long for the benefits of this program to reach out to other areas of the firm. We now have colleagues in Operations. And really there's no limit to the types of opportunities and jobs that we can attract autistic talent to. We are working very diligently on expanding the reach of the program. One of the larger challenges is getting into the community, finding talent, and making them aware of the opportunities that we have. Many members of the autistic community may not realize that banking could be a great place to work. So reaching into the community and educating talent from this community on our opportunities and the supports and programming that we have in place is probably the first step. We want access to this underserved, underutilized talent pool.

Melita: Kym, your autism diagnosis didn't occur until after you started working here at JPMorgan Chase. Can you tell us what that experience was like and how the firm accommodated you after your diagnosis?

Kym: Yeah. My experience of kind of telling people at J.P. Morgan that I was going through the autism diagnosis. I think for a lot of people, it's a really big deal as to whether you share it with people or not. For me, it was entirely practical. I needed the time off to go to the appointment. So I had to tell my manager that I needed the afternoon off to go. And he was just straight up, "I'm really glad you told me that, because I was wondering if there was something else going on. And I didn't know how to ask. So, like, thank you for telling me," which is a great reaction. Right? It's his attitude was, from day one, like, "I just want to manage you as an individual. And the more I know about you, the better I can manage you." So by the time the confirmed diagnosis actually came through I think it was March. And the next month was April, so Autism Inclusion Month. And there was an event here in the Bournemouth campus. They had an external speaker coming in to raise awareness of autism. And it was my manager that said to me, "You should go to this event. You should meet more people with autism." So he sends me along to this event. And it was a game changer for me, because I met other people with autism. And that's always been the probably the most impactful thing, to talk to other people, and share experiences, and share what was working for other people. Because if you say, "Hey, I have autism." And somebody goes, "Well, what reasonable adjustments?" "Well, I don't know. I only just found out. I was diagnosed. So I don't know." So having that community of people that J.P. Morgan has created by creating this program meant I had people to ask and go to for advice. And we did get the practical accommodations from the program. So we got the noise canceling headset that was in training for my manager. We got those in place, which was great. But really the biggest thing for me is that by opening up the subject and calling this a program, J.P. Morgan has created a community. And I'm very proud to be a member of that community, which is a very different position than I had when I was going through the diagnosis process.

Melita: Bryan, Kym just talked about how the Autism at Work program is helping neurodivergent employees. But there's still a lot of work to be done. The autism community faces extremely high unemployment and underemployment. What do you think needs to be done to create a more neurodiverse workforce globally?

Bryan: Brian Lamb was on CNBC recently. And he talked about the, you know, the talent shortage and that we need to think about kind of new approaches, new strategies, and get a little creative. The autism community is an amazing, untapped pool of talent. And part of our strategy, and Kym talked to this a little bit, is how do we make this a great place to work to organically attract this talent? And that includes a suite of accommodations that meet the needs of our colleagues to make sure they can thrive, and perform, and be the very best that they want to be here. So we kind of have the, you know, a couple problems. One, we need to get into the community and advertise about our opportunities. We need to create conduits with accommodations that the colleagues can work through our processes. You know, it's interesting that, the autism community, if you meet one person with autism, you've met one person with autism. Everybody is different, just like we're all unique. And they all have and everybody has different needs. Right? So we need to provide a suite and a range of services that help colleagues not only become aware of our opportunities, but help support the application process, help support the interview process. We need to, when they come to the workplace provide maybe environmental or sensory accommodations. All stuff that we can do. And conceptually, we view this as a competitive advantage. If we can make this a great place to work, and attract talent, and retain talent, and develop talent from this community, it's a competitive advantage for us. There's no question this is good for business. And we are not just hiring people because they're from the autism community. We're removing barriers so we can get access to talented contributors from the autism community. Strategically, that's what we're trying to do.

Melita: And, Kym, from your perspective, what do you think employers can do to create a more inclusive work environment for autistic individuals?

Kym: Yeah. I'm going to pick up what Bryan said about this being a great place to work. For me, that's why this employment has worked out. The practical support is not a big deal. And it needs to be not a big deal. Because what that's meant for me is that my career development can be a big deal, because there is the space for it. And I have been guided and developed by my managers to the best of their ability, because they have all the information they need about me. They can go and access training from the team. And they can focus on what I can do and what my strengths are, because they're not running around trying to work out how to get me the right headset, or the parking space that I need. That's all sorted and that's all taken care of. So I would say, yeah, it's getting the culture right and making the right things a big deal and the other things not a big deal.

Melita: Global Head of Neurodiversity, Bryan Gill, and Corporate and Investment Bank Senior Associate, Kym Francis, thank you both so much for joining us today.

Kym: Thank you very much, Melita. It's been great.

Bryan: Such a pleasure. Thank you so much.

Melita: JP Morgan Chase was just ranked the number one employer for people with disabilities by Careers & the DisABLED magazine. To talk about how the firm got here, plus to hear a firsthand experience about disability inclusion here at JPMorgan Chase, we're joined by head of the Global Office of Disability Inclusion, Jim Sinocchi, and Consumer and Community Banking's Product Manager for Business Banking, Betsy Mattimoe. Thank you both for being here today.

Betsy: Thank you.

Jim: Thank you.

Melita: Jim, let's start off with you. This year the firm was awarded the number one employer for people with disabilities. But just five years ago on that same list, we were ranked number 41. What has the firm done in the past five years to improve disability inclusion?

Jim: Well, we've been very intentional about our strategy. That was number one. The second point is that we did have a strategy, and we worked the strategy. We also promoted what we were doing in the outside world. Our communications team has been fantastic and the marketing team has been fantastic. And we got the world out that Chase was in the business of doing this strategy. The Careers & the DisABLED magazine is my Time Magazine or Newsweek Magazine, because it's read by people with disabilities who are interested in working, interested in being a part of the community. And we just joined the list as a challenge to ourselves to see how far we could go at this thing. And I was surprised when I found out that we were number one this year. It's a proud achievement for a bank like us to be number one in this space for people with disabilities.

Melita: Betsy, in 2014 you suffered a ruptured brain aneurysm, leaving you with minor short-term memory loss, a blind spot on your right side, and balance issues. And just four months later you returned to work. Can you talk about your experience returning to work, what the firm did to help you and how your experience changed you?

Betsy: When I woke up in the neuro ICU after my first brain surgery and was able to grasp my situation, you know, listening to the patients and the families around me I realized that I did not have a lot of choices here. But I did choose to be positive. I did absolutely understand what I had to lose. And I realized attitude was everything, And I believe this to this day. So returning to work, number one my head was ready to work before my body was ready to come back. Given the firm’s decision to bring people back and move away from work from home, I’m a little concerned about highlighting this fact.  If we deny a WFH accommodation, this could invite questions as to why this employee was approved.  Can we just focus on the accommodations we put into place once the employee returned to the workplace?. I needed to work. Number two so working with Chase and my doctor, we were able to set up a medical accommodation. And for me, that translated into a flexible work arrangement. I needed to work to avoid heavier commute scenarios because of my blind spot. So that's really, really helpful for me. And then third when we were setting up the medical accommodation, the Chase nurse asked all kinds of questions of me. And what happened is they redid my cube ergonomically. The folks from facilities dimmed the lights above my cube. And it has been more helpful than I could ever have thought of. And really, for everything that I needed, every accommodation, Chase has really gone above and beyond what I could've ever imagined. It's been great.

Melita: Thank you for sharing your experience Betsy. Speaking of an inclusive work environment, Jim, what is the firm doing to make sure they stay as the number one employer for people with disabilities?

Jim: We ran under a guidance regarding attitude, accommodations, assimilation, and accessibility. The idea is under those four A’s are all the things that we do for the firm. And the four A’s have been the mainstay of our strategy here. So we have an accommodations program run by HR, where accommodations are delivered around the world for people with disabilities. Our attitude is basically our approach to disability inclusion. Assimilation talks about how we take people who come in as associates, VPs, et cetera, and how do we move them through the business? And finally, how we really develop our culture to help people with disabilities work here, earn their living, and aspire to be leaders. And finally the ability to assimilate people with disabilities into the business, to executive positions, I have put that at the top because a lot of people with disabilities just look for a job. Able-bodied people think about hiring people with disabilities for a job, but they rarely talk about aspirational goals, like becoming a VP, an ED, or an MD. And we changed that paradigm here to say there are people here that can aspire to different goals, even though they have disabilities.

Melita: Betsy, you were working at JPMorgan Chase before your brain aneurysm. And in 2019, you faced a new obstacle after being diagnosed with breast cancer. In each instance you had supportive managers. What advice do you have for managers to help employees navigate through similar situations and get the resources they need?

Betsy: I would tell managers to simply listen, to find out what your employees need, and really what they're facing. You know, I work with Accessibility, a BRG here at Chase. Similar to above, just a little cautious about highlighting concerns raised by employees. And there are many. When I was diagnosed with breast cancer, I shared with my manager that I was absolutely exhausted, falling asleep almost at the wheel driving home from work. And my manager, of course, picked up on that and my really great HR partner came to me and let me know that there was a counselor available in my building. I had no idea. And I saw him for three sessions. Apparently I was dealing with emotional exhaustion. I had no idea. But very soon I was feeling top of my game again, was able to deal with my diagnosis, get back to work, and life became a little bit more shiny.

Melita: Lastly, Jim, what is the firm doing to get out the word that JPMorgan Chase is a great place to work for people with disabilities?

Jim: We're selling our programs, basically. Because of the brand, I've been a speaker at the United Nations for the last four or five years. They invite me every year since I got here. And what we do is highlight people with disabilities that are doing the work. We have people talking about their disability openly, and it's made the firm feel smaller. I had a story that impacted me that I'd like to end with. A mother called me when she read a story about myself and my service dog, Veronique, who passed away about four years ago. And she showed the story to her young son that had a disability. And she told me that he was about seven years old. And when she read this story to him, the young boy looked back at his mother and says, "Mom, I see that man in the wheelchair with his dog. Does that mean I can go to work someday?" That, like, I'll never forget. That happened over three years ago. But it just shows what we're doing to not only help our adult community, but what we're doing to help our children who have disability and we have many parents at the firm that have children with disabilities. And it's a heart breaker every day. But that's what inspired me to keep doing what I'm doing.

Melita: Head of the Global Office of Disability Inclusion, Jim Sinocchi, and Consumer and Community Banking's Product Manager for Business Banking, Betsy Mattimoe, thank you so much for joining us today.

Jackie : In January, inflation rates hit a 40-year high, rising at an annual rate of 7.5%. To discuss more about what we're seeing, and to provide insight on when we can expect inflation to normalize, we're joined by Global Market Strategist for J.P. Morgan's Private Bank, Elyse Ausenbaugh. Thank you so much for joining us today.

Elyse: Thank you for having me.

Jackie: So to start off, can you tell us why we're seeing high inflation rates, and what items are experiencing the highest price increases?

Elyse: Sure. So the inflation we're experiencing today is really a byproduct of the strength of the economic recovery and demand that we've seen since the start of the pandemic era. In 2021, consumers who find themselves on very solid financial footing, helped drive the U.S. economy to grow at the fastest rate that we've seen in 40 years. That, combined with these pandemic related supply issues, is really what's been driving inflation higher. Now, as for where we're seeing the most acute price pressures, over the course of the past year, it's really been a story about the good sector. Even today, Americans are still spending 15% more on goods than they were before the pandemic. And if we zoom in on an area like used cars, for example, we see that prices have increased more than 40% for that particular component. The one thing I would mention, though, is that while goods have been the predominant driver up to this point, the most recent data is starting to suggest that inflation is broadening out into other categories, like those that are more oriented towards the services sectors of the economy.

Jackie: And experts say that tensions between Russia and Ukraine could have an impact on inflation. Can you talk about what we could potentially see?

Elyse: Well, Russia is one of the world's largest producers of oil and natural gas, so the concern with this conflict is that it could potentially create more inflation by pushing energy prices higher. This one all comes back to basic supply and demand. Right now, demand for oil is high because the world is reopening, and people are starting to travel more. So that's already pushed oil prices higher. But if, in addition, we end up seeing an escalation of the conflict that causes a supply disruption, that could potentially create another surge in oil prices.

Jackie: And there has been talk about the Fed raising interest rates. Can we expect that to happen any time soon? And if so, what impact would that have on inflation?

Elyse: Yes, we do think that the Fed is going to start a series of rate hikes coming out of its March FOMC meeting. And we should also expect more rate hikes to come thereafter. So by the end of this year, we think that interest rates are going to be notably higher than they were at the end of 2021.The Fed raises interest rates, though, in order to cool off the economic activity that generates inflation in the first place. So that should, to some extent, help moderate some of these inflationary pressures. But I would also note that it's not necessarily going to cause growth to come screeching to a halt. We're coming off of a level of interest rates that are extremely low and very stimulative. So while we expect growth will moderate, we still think it can continue to carry along at a very healthy clip.

Jackie: And now you just mentioned that increasing interest rates can help manipulate inflation. But how would increasing rates impact other aspects of the economy, such as buying a home?

Elyse: Well, interest rates influence the pricing in all financial markets, including the cost of taking out a loan. So already, as the Fed has kind of signaled to us that they intend to raise interest rates, mortgage rates have already risen to the highest levels we've seen since 2019. I think it'll be really interesting to watch what happens in an area like the housing market. Because despite that increased cost of borrowing, you still have this supply/demand imbalance, you've got really strong consumer balance sheets, and you have wage growth that could potentially more than compensate for that increased cost of borrowing, and keep the housing market really robust.

Jackie: Lastly, does it look like inflation will normalize any time soon?

Elyse: We do think that normalization is going to get underway in 2022, and that's really for two primary reasons. So one of them being the Fed's newfound focus on combatting inflation, and the other being that those pandemic restrictions that created this lopsided composition of consumer demand in the first place are starting to fade. I would flag, though, that the new normal level of inflation might be higher than what we got used to over the course of the past ten years in the cycle ahead. And there are risks that could conspire to keep inflation elevated, like the tensions in Russia and the Ukraine, and rising wages, which contribute to increased costs for businesses. But the bottom line is that we do think inflationary pressures are going to moderate in the year ahead.

Jackie: Global Market Strategist for J.P. Morgan's Private Bank, Elyse Ausenbaugh, thank you so much for all of that great insight, and for being here today.

Elyse: Thank you for having me, Jackie.

MELITA: According to the Financial Health Network, over 50% of Americans don't have enough money saved on hand for a $500 emergency. And worldwide, more than one billion adults struggle to manage their financial lives. We're joined now by Nichol King, first ever CCB Community Manager, located in the Harlem, New York branch, to share how we can improve our financial health and build good money habits. Thank you for being here today.

NICHOL: Thank you so much for having me, Melita. I'm excited.

MELITA: Nichol, it's not just low-income households or certain geographies that are struggling with poor financial health. Can you talk about what we're seeing and how we got here?

NICHOL: You know, Melita, when I think about that number, 50%, it's absolutely staggering. It makes me really understand that me and my team still have a lot of work to do as it relates to getting out into communities and teaching financial education. But what we're seeing is that households have not really got up and personal with their money. They don't know where their money is going. So what we like to always talk about with communities is the importance of having a sound budget, which is really the foundation of any financial plan.

MELITA: And how has the pandemic impacted people's savings accounts and their financial habits?

NICHOL: Yeah, the pandemic has really wreaked havoc on communities globally. So if we learned nothing from the pandemic, we learned the importance of really saving for the unexpected. And when I think about the pandemic, I've really seen how people weren't prepared. They didn't have the recommended three to six months of living expenses set aside for emergencies, so they were really in a dire situation. I think it was an awakening for a lot of people. A lot of people really understood that, you know what, I have to do better with my money. I really have to understand how to manage my expenses.

MELITA: And what tips do you have for people to help improve their financial health? Is there a certain amount of money we should all be putting into our savings each month?

NICHOL: Yeah, so experts typically say that one should have between three to six months of expenses set aside for the unexpected. Now whether it's three months or six months depends on the household, right? So if it's a two-income household, experts say that you can get away with three months, but if it's a single-earning household, six months is really the safety net. I always like to err on the side of caution, to say to have six months so you can be comfortable.

MELITA: And what about people who after paying all their bills each month, don't have extra money to put into their savings? How can they start to build good money habits?

NICHOL: You know, that's a great question, and I always challenge clients and members of the community when they say to me, "I don't have enough money to save." I ask them to take a look at their bank statement. Okay, how often are you using rideshare companies?

How often are you making breakfast or lunch and bringing it to work, right? So those things, if you start small, instead of eating out or buying lunch five times a week, cut back maybe to three times a week. And the money that you save on those two days, you put it into a savings account. Start small. Make sure that the goal is SMART. Make sure that it's specific, measurable, actionable, relevant, and time-bound. And I use that acronym because it helps you stay on course. Because so often we have so many competing financial priorities, but when you rely on your SMART goal, it's usually you stay the course when things get challenging. So that's the first thing I would say. The next thing that I would say is use your resources. So here at Chase we have amazing resources to help communities improve their financial health. One of them is Autosave, right. With our Autosave feature, you can save as little as a dollar a week, right. And again, start small because I always say that it is the systematic behaviors that's going to help improve your financial health. Most people are not born wealthy. They acquire wealth over time.

MELITA: First ever CCB Community Manager Nichol King, thank you so much for being here and sharing all of that information with us.

NICHOL: Thank you so much for having me. I really enjoyed this.

Jackie: For nearly two years COVID-19 has impacted many aspects of our day-to-day life including, the global supply chain. To talk more about the disruption that we're seeing plus how it could impact this upcoming holiday season, we're joined by JPMorgan's Private Bank Senior Markets Economist, Stephanie Roth. Thanks so much for being here, Stephanie.

Stephanie: Thanks for having me.

Jackie: To start things off, could you tell us about some of the complications that we're currently seeing within the global supply chain?

Stephanie: Sure. First and foremost, the issues are related to autos. Auto prices are up almost 40% since the start of the pandemic. And that's related to the semiconductors issue that we're seeing. But it's not just autos. The issues are ranging broad from a lot of types of goods. And a lot of that has to do because goods demand really increased in a big way as a result of the pandemic. And much of those goods came from Asia. So that's a lot of goods coming from a really small garden hose. So what we're seeing is issues at the ports, lots of goods that are waiting to be unloaded. We think they eventually will. But at the end of the day this is creating challenges, but it's because goods demand is really strong. It's for good economic reasons.

Jackie: And so what impact will that have on this upcoming holiday season?

Stephanie: We should see a really strong spending season. Even if the shelves are a little bit bare, people will buy what they can. A lot of companies have told us they're going to meet demands for customers. That said, if we do end up running out of some goods, you might see some services spending as a result. Instead of buying purses and shoes, you might see some restaurant gift certificates and spa gift certificates. But at the end of the day, consumers want to spend. They have healthy balance sheets. And we expect the holiday season to be really solid this year.

Jackie: And what are some of the products in short supply that may surprise our viewers?

Stephanie: Sure. Well, first of all, there is limited turkeys, hams, and other types of meat products. Also cooking oils. And then the good shortages range anything from golf clubs to furniture. So it's fairly widespread. And it's a little bit complicated, but these things will eventually resolve themselves. Also keep in mind electronics are related to the that semiconductor shortage. So electronics, broadly speaking, are fairly much in short supply. Goods are pretty broadly having issues, but I have to say you also see that within workers. So workers are in short supply when it comes to fast food restaurants and shipping as well.

Jackie:  What tips do you have for holiday shoppers this year?

Stephanie: Get started early. Shelves are most stocked today. So get started as soon as you can just because you have the best chance of getting the goods that you need. Keep in mind, you're unlikely to see the discounting that you typically have, so don't wait for the big discounts to hit just because they're unlikely to be as significant as usual.

Jackie: Are there any indicators on when the supply chain might go back to normal?

Stephanie: That's a great question. It depends a little bit on the good. So we're likely to see goods come back on line sort of over the course of the next six months. And they're not all going to come back on line at the same time. So it depends whether it's related to the semi shortage. Certainly autos might take a little bit longer than some of the other goods. But we what we seeing is some of the pricing related to shipping has started to come down. And the port backlogs are getting a little bit better. So at the margin things are improving but it might take some time. And it might take until at least after the holiday season just because that goods demand is really strong right now. But I would imagine at some point in the first quarter we should start to see a much better situation when it comes to good issues.

Jackie: JPMorgan's Private Bank Senior Markets Economist, Stephanie Roth. Thank you so much for being here.

Stephanie: Thank you for having me

JUSTIN PAGE:

It was a tight race, but the Saturday after Election Day, the Associated Press named Joe Biden president-elect. With a Biden administration and a possibly divided Congress, what effect could this have on the markets?

Joining us today is Meera Pandit, market analyst on J.P. Morgan Asset Management's Global Market Insights Strategy Team. Meera, before a winner was even announced, markets were up. What does this say to investors?

MEERA PANDIT:

That's right. The week of the election, markets ended the week up 7.3%, which would have been a good return in an entire year. And I think that what that says to us about the nature of markets in general, and specifically with regards to this election, is that markets don't like uncertainty. And in this case, the election results did reduce it even if we didn't have final, final results by the end of that week.

And I also think that given the fact that the outcome was pointing to a divided government, markets reacted positively for two main policy reasons. I think that divided government does temper the potential for massive policy changes. So it does take things like major tax reform off the table. And certainly from a fiscal perspective, even with the divided government, we are still expecting some sort of fiscal stimulus to follow.

JUSTIN PAGE:

We are still in the middle of a pandemic. Fiscal package discussions are on the table but at an impasse. Under a Biden administration, what could we see in terms of new aid?

MEERA PANDIT:

I think that although discussions have been at an impasse over the last couple of months, a lot of that does have to do with the election. So without the spotlight of the election looming, I do think that both parties will come to some sort of compromise based on some of the areas they agree upon.

So I think some of the things you potentially could see in a fiscal package would be expanded and enhanced unemployment benefits — maybe not that full $600 we saw from the CARES Act, but certainly some sort of supplement — small and medium-sized business loans, potentially a little bit more support for state and local governments.

And I do think that even if the fiscal package is a bit more modest, it should still be a huge help to households and businesses. Because essentially what we've done is we've built about half of a bridge here. And we need to build that other half of the bridge, in terms of fiscal support, to get households and businesses to the other side. And I do think if you find that fiscal support starts to fall a little bit short, you may see the Federal Reserve step in and be even more accommodative from a monetary policy perspective.

JUSTIN PAGE:

Health care, climate change and taxes were all major discussion points during the campaign. If Congress stays split after the runoffs in January, what changes could people expect to see?

MEERA PANDIT:

Well, major legislative change is going to be tough without some bipartisan support. So in the absence of that, I think that there is a limited scope for major tax reform, for major changes to the Affordable Care Act, and perhaps less scope for some of the clean energy initiatives that Biden had proposed on the campaign trail.

That being said, I do think that Biden can still achieve a number of things through executive orders. And a lot of that, in terms of scope, will rely on regulation and foreign policy. So from a regulatory standpoint, I think you could see some more reregulation of the energy sector. I also think you could see us potentially rejoining the Paris climate accord.

JUSTIN PAGE:

Let's shift to foreign policy. How might U.S.-China relations change under a Biden administration?

MEERA PANDIT:

I think Biden will still be tough on China. We've seen a lot of bipartisan support for having a "tough on China" stance. But I do think that the policy outlook will be a little bit more predictable. And I think that's important from a market perspective because — just to bring it full circle — markets do not like uncertainty.

And we did see a lot of uncertainty in 2018, 2019 around U.S.-China trade tensions and the headlines. And that did foment some market volatility. We also saw that it was an uncertain time for businesses. I mean, it makes it hard for businesses to make investment decisions, spending decisions, hiring decisions if the rules of the game are subject to change. And that makes it difficult for them to interact with suppliers and subsidiaries. So I do think that with Biden, you'll potentially see a more predictable approach from that perspective and probably a more multilateral approach with some of our key allies.

JUSTIN PAGE:

A lot to watch. Meera, thank you so much for joining us.

MEERA PANDIT:

Thank you for having me.