In this episode of J.P. Morgan’s Making Sense, Derek Chollet, head of the JPMorganChase Center for Geopolitics, sits down with Clare Kim, global head of Content Strategy and Production for the Commercial and Investment Bank, to discuss how the U.S.–Israel military operation against Iran could play out. What’s next in terms of leadership, and how might this change the balance of power in the Middle East? Longer term, could a resolution unlock opportunities for both the Iranian and the global economy?   This episode was recorded on March 4, 2026. The views or opinions expressed herein are solely those of the JPMorganChase Center for Geopolitics and may differ from the views and opinions expressed by J.P. Morgan Securities LLC Research Department or other departments or divisions of JPMorgan Chase & Co. or its affiliates.  Information has been obtained from sources believed to be reliable, but JPMorganChase does not warrant its completeness or accuracy. Opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice.  The opinions herein should not be construed as an individual recommendation for any particular client and is not intended as advice or recommendations of particular securities, financial instruments, or strategies for a particular client.  The information contained herein has been provided solely for informational purposes and does not constitute an offer, solicitation, advice or recommendation, to make any investment decisions or purchase any financial instruments, and may not be construed as such.

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