Anatomy of a Recession

Tuesday, July 14, 2026

9:00 AM Pacific Time

30 minutes

Navigating today’s economic headlines demands discerning critical signals from mere noise. Understanding these distinctions is vital for comprehending the forces shaping capital markets. Jeff Schulze, Head of Economic and Market Strategy at ClearBridge Investments, offers his perspective.

In this exclusive live webinar, Jeff will conduct an in-depth analysis of the US economy through the lens of the Recession Risk Dashboard, offering commentary on significant trends and possible turning points.

Key topics:

US economy: energy crisis impact, consumer health, the tariff outlook, labor market strength and implications for the Fed’s path forward.
US capital markets: an updated analysis on the current valuation and earnings backdrop and equity leadership in the second half of 2026.
Global landscape: a discussion on the necessary catalysts for durable non-US equity outperformance ahead.

US | NON - US

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About the Program: The Anatomy of a Recession (AOR) program provides practical, actionable insight on the U.S. economy and critical market trends. ClearBridge Investments, a specialist investment manager of Franklin Templeton, has offered the program since 2016, based on proprietary dashboards that track multiple indicators of recession and recovery. Monthly commentary, dashboard updates and presentations are available on the Anatomy of Recession page on Franklintempleton.com.

Featured speakers

Jeff Schulze, CFA^®

Managing Director, Head of Economic and Market Strategy
ClearBridge Investments

Jeffrey is a Managing Director, Head of Economic and Market Strategy and oversees capital market and economic research, contributing thought leadership on these topics that is frequently quoted in the financial media, including the Wall Street Journal, CNBC and CNN. He joined ClearBridge Investments in 2014 and has 18 years of investment industry experience. Prior to joining Clear Bridge, Jeffrey was a Portfolio Specialist at Lord Abbett & Co., LLC. He received a BS in Finance from Rutgers University. He is a member of the CFA Institute.

Heather Lenseth

Senior Vice President
Division Sales Manager, Northeast Region
Franklin Templeton

Heather Lenseth is a Senior Vice President and Divisional Sales Manager for Retail Sales with Franklin Templeton. She is responsible for the field sales team in the Northeast Region, focused on the distribution of Franklin Templeton's investment solutions to regional, bank, and independent financial advisors. The sales efforts of this team cover Franklin Templeton's suite of products including mutual funds, separately managed accounts, ETFs, 529s and 401(k)s.

Prior to joining Franklin Templeton in 2020, Heather held a variety of sales positions at Legg Mason to include: Divisional Manager for the Central Region, Head of Cross Channel Sales, Internal Desk Manager, Regional Director, and Internal Wholesaler. Prior to Legg Mason, Heather began her career as a Financial Advisor at Ameriprise Financial.

She holds an MBA from the Stern School of Business at New York University and a BS in Financial Economics from Binghamton University. She currently holds FINRA series 7, 66, and 24 licenses.

Outside of the office, you can find Heather volunteering for the youth lacrosse program in Yorktown Heights, NY where she resides with her husband and three children.