Monday 23rd February 2026

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Phil sits down with NAB’s Rodrigo Catril to break down a chaotic weekend in US trade policy following the Supreme Court's ruling against previous tariff structures and the administration's subsequent pivot to a global 15% tariff. They discuss the ripple effects across global markets—including a surprisingly resilient Aussie dollar—while analysing a significant miss in US Q4 GDP and the implications of rising core PCE on future Fed easing. They also touch on the latest global PMI data, showing unexpected strength in the UK and Germany, and preview a busy week ahead featuring Australian CPI and insights from Fed officials on the economic impact of AI.

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Friday 21st February 2026

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In this weekend’s podcast, Dr. Blair Chapman, Senior Economist at SEEK, previews the upcoming SEEK AI Gauge Report, highlighting that while overall job ad volumes have recently declined, demand for AI-specific skills is surging. Chapman notes a "broadening" of AI demand beyond the technical IT sector into fields like marketing and content creation, where approximately one in 20 ads now request AI proficiency. While the podcast addresses common fears of job displacement, particularly in entry-level white-collar roles, Chapman emphasizes that AI is currently augmenting rather than replacing most positions and creating new specialized roles such as AI ethics officers and AI content trainers. Ultimately, the discussion suggests that "AI fluency" is becoming a baseline requirement across the Australian workforce to drive productivity and navigate the evolving labour market.

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Friday 20th February 2026

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Australia’s unemployment rate held steady at 4.1%, reinforcing the case for a potential RBA rate hike in May as the labour market remains tighter than expected. Meanwhile, oil prices have surged above $71.80 a barrel as the U.S. bolsters its air power in the Middle East to levels not seen since 2003, creating a volatile backdrop of geopolitical risk. While the U.S. continues to show economic resilience with a strong labor market, a record-high trade deficit and cautious outlooks from major retailers like Walmart are tempering global market optimism. NAB’s Skye Masters joins Phil to talk through the overnight market news.

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