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