Question

Who or what is “J.P. Morgan” and why are they concerned with studying the global economy?

Answer 1

J.P. Morgan was one of the most powerful bankers of his era, J.P. (John Pierpont) Morgan (1837-1913) financed railroads and helped organize U.S. Steel, General Electric and other major corporations. The Connecticut native followed his wealthy father into the banking business in the late 1850s, and in 1871 formed a partnership with Philadelphia banker Anthony Drexel. In 1895, their firm was reorganized as J.P. Morgan & Company, a predecessor of the modern-day financial giant JPMorgan Chase. Morgan used his influence to help stabilize American financial markets during several economic crises, including the panic of 1907.

JPMorgan chase is an investment bank, and they invest in various companies and various countries. Hence to understand the patterns and to understand the real need, they study the global economy as research would be a key criteria in this business