First, heat the oil in a dutch oven or saucepan over medium heat. Meanwhile, add the onion and red bell pepper and cook until translucent, about 5 minutes. Then, stir in the chili powder, cumin, oregano, cinnamon, nutmeg and garlic cloves and cook another minute or two until the spices are fragrant, stirring often.
Next, add in the fire roasted and diced tomatoes with juice along with the pumpkin puree and whisk to combine.
Then, stir in the black beans, water and salt and pepper. Reduce heat to low, partially cover and let simmer for at least 30 minutes, stirring often. Note, the longer this cooks, the more flavor develops so feel free to make this one in the afternoon to let simmer for hours.