Jamie Dimon just called inflation "the skunk at the party."

The CEO of the largest bank in America dropped his annual shareholder letter this week. 48 pages. I broke down what actually matters and why it should be on every investor's radar right now.

Oil is up since the war started. Wells Fargo just removed all Fed rate cuts from their 2026 forecast. And Dimon is warning that asset prices are "very high" heading into all of it.

This is not a trading article. This is for anyone with a portfolio, a retirement account, or a mortgage who wants to understand what is actually happening in the macro right now.

Free to read.

-Roy