WashingtonWise

The military conflict in Iran is roiling markets around the globe. In this episode, host Mike Townsend is joined by Kevin Gordon, head of macro research and strategy at the Schwab Center for Financial Research, to unpack what the war means for investors amid volatile markets. Kevin shares his perspective on how geopolitical uncertainty is driving sharp swings in oil and gas prices; why markets in the U.S. have so far been more resilient than those in Europe and Asia; and how rising energy costs could affect inflation, consumer spending, and the labor market. He also discusses how the war could impact the ongoing sector rotation toward energy and why bond yields are rising. And he shares some practical takeaways for investors—from why reacting to headlines can be dangerous to which economic indicators are most important to watch as the conflict evolves.

Mike also provides updates from Washington, including the possibility of companies receiving tariff refunds this spring, the ongoing stalemate over funding for the Department of Homeland Security, and how the Senate primaries in Texas have kicked off the busy midterm election cycle. 

WashingtonWise is an original podcast for investors from Charles Schwab. For more on the series, visit schwab.com/WashingtonWise.

If you enjoy the show, please leave a ★★★★★ rating or review on Apple Podcasts

IMPORTANT DISCLOSURES

The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.

This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions.

All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.

Past performance is no guarantee of future results.

Investing involves risk, including loss of principal.

All names and market data shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.

Diversification and asset allocation strategies do not ensure a profit and do not protect against losses in declining markets.

Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.

Commodity-related products carry a high level of risk and are not suitable for all investors. Commodity-related products may be extremely volatile, may be illiquid, and can be significantly affected by underlying commodity prices, world events, import controls, worldwide competition, government regulations, and economic conditions.

International investments involve additional risks, which include differences in financial accounting standards, currency fluctuations, geopolitical risk, foreign taxes and regulations, and the potential for illiquid markets.

Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.

Currency trading is speculative, very volatile and not suitable for all investors

Indexes are unmanaged, do not incur management fees, costs, and expenses (and/or "transaction fees or other related expenses"), and cannot be invested in directly. For more information on indexes, please see ​schwab.com/indexdefinitions

The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.

0326-P71L 

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Just as investors were getting comfortable increasing their artificial intelligence holdings, the "AI trade" has been shifting, affecting a wide range of companies across a variety of sectors. Nathan Peterson, director of derivatives research and strategy at Schwab, joins host Mike Townsend to discuss the power of AI as well as its ability to disrupt. They dig into what AI can deliver now, where it is headed, the types of businesses that are being disrupted, and the risks to companies, the jobs market, and the broader economy. Nate shares his perspective on how investors should be thinking about including AI in their portfolios amidst a notable sector rotation. 

Mike also dives into the Supreme Court’s ruling to invalidate the bulk of President Trump’s tariffs. He lays out the options for new tariffs, discusses the uncertainties for U.S. companies and global trade partners, and considers the case for tariff refunds.

WashingtonWise is an original podcast for investors from Charles Schwab. For more on the series, visit schwab.com/WashingtonWise.

If you enjoy the show, please leave a ★★★★★ rating or review on Apple Podcasts

DISCLOSURES

The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.

Investors in mutual funds and/or ETFs should consider carefully information contained in the prospectus, or if available, the summary prospectus, including investment objectives, risks, charges, and expenses. Please read the prospectus carefully before investing.

This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions.

All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.

​Past performance is no guarantee of future results.

Investing involves risk, including loss of principal.

All names and market data shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.

Diversification, asset allocation and rebalancing strategies do not ensure a profit and do not protect against losses in declining markets.

Rebalancing may cause investors to incur transaction costs and, when a non-retirement account is rebalanced, taxable events may be created that may affect your tax liability.

Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.

Cryptocurrency-related products carry a substantial level of risk and are not suitable for all investors. Investments in cryptocurrencies are relatively new, highly speculative, and may be subject to extreme price volatility, illiquidity, and increased risk of loss, including your entire investment in the fund. Spot markets on which cryptocurrencies trade are relatively new and largely unregulated, and therefore, may be more exposed to fraud and security breaches than established, regulated exchanges for other financial assets or instruments. Some cryptocurrency-related products use futures contracts to attempt to duplicate the performance of an investment in cryptocurrency, which may result in unpredictable pricing, higher transaction costs, and performance that fails to track the price of the reference cryptocurrency as intended.

Indexes are unmanaged, do not incur management fees, costs, and expenses (and/or "transaction fees or other related expenses"), and cannot be invested in directly. For more information on indexes, please see ​schwab.com/indexdefinitions

The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.

The Charles Schwab Corporation provides a full range of brokerage and financial advisory services through its operating subsidiaries. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (Member SIPC [link to: https://www.sipc.org/] offers investment services and products, including Schwab brokerage accounts.

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As the markets get off to a slow start to 2026, investors have a lot on their minds. Daniel Stein, manager of two Charles Schwab branches in Virginia, joins host Mike Townsend for a wide-ranging discussion about the key concerns of individual investors, including market volatility, the potential for an AI bubble, the challenges of diversification in a top-heavy market, and international stocks, along with the roles of precious metals and cryptocurrency in a portfolio. Dan offers practical suggestions for assessing whether a portfolio is properly diversified, considerations when rebalancing portfolios, and making disciplined decisions about when to sell assets. 
Mike also shares updates from Washington on the nomination of Kevin Warsh to succeed Jerome Powell as Federal Reserve chair, a lower profile but critically important nomination to head the Bureau of Labor Statistics, and the GOP’s shrinking majority in the House of Representatives.
WashingtonWise is an original podcast for investors from Charles Schwab. For more on the series, visit schwab.com/WashingtonWise.
If you enjoy the show, please leave a ★★★★★ rating or review on Apple Podcasts
 
IMPORTANT DISCLOSURE
The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.
Investors in mutual funds and/or ETFs should consider carefully information contained in the prospectus, or if available, the summary prospectus, including investment objectives, risks, charges, and expenses. Please read the prospectus carefully before investing.
This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions.
All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.
​Past performance is no guarantee of future results.
Investing involves risk, including loss of principal.
All names and market data shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.
Diversification, asset allocation and rebalancing strategies do not ensure a profit and do not protect against losses in declining markets.
Rebalancing may cause investors to incur transaction costs and, when a non-retirement account is rebalanced, taxable events may be created that may affect your tax liability.
Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.
International investments involve additional risks, which include differences in financial accounting standards, currency fluctuations, geopolitical risk, foreign taxes and regulations, and the potential for illiquid markets.
Digital currencies [such as bitcoin] are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view digital currencies as a purely speculative instrument.
Cryptocurrency-related products carry a substantial level of risk and are not suitable for all investors. Investments in cryptocurrencies are relatively new, highly speculative, and may be subject to extreme price volatility, illiquidity, and increased risk of loss, including your entire investment in the fund. Spot markets on which cryptocurrencies trade are relatively new and largely unregulated, and therefore, may be more exposed to fraud and security breaches than established, regulated exchanges for other financial assets or instruments. Some cryptocurrency-related products use futures contracts to attempt to duplicate the performance of an investment in cryptocurrency, which may result in unpredictable pricing, higher transaction costs, and performance that fails to track the price of the reference cryptocurrency as intended.
Money market funds are neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the fund seeks to preserve the value of an investment at $1.00 per share, it is possible to lose money by investing in the fund.
Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.
Currency trading is speculative, very volatile and not suitable for all investors
Indexes are unmanaged, do not incur management fees, costs, and expenses (and/or "transaction fees or other related expenses"), and cannot be invested in directly. For more information on indexes, please see ​schwab.com/indexdefinitions
The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.
The Charles Schwab Corporation provides a full range of brokerage and financial advisory services through its operating subsidiaries. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (Member SIPC [link to: https://www.sipc.org/] offers investment services and products, including Schwab brokerage accounts.
0226-BLA0 

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The barrage of unsettling headlines has investors wondering how to manage their investments amid ongoing changes and disruptions coming from Washington. On this episode of WashingtonWise, Kasey McCurdy, chief portfolio strategist at Schwab Wealth Advisory, joins host Mike Townsend to tackle the turbulent start to the year. Kasey shares insights on how investors can tune out the noise when making investment decisions, even when there are few historical comparisons, and offers strategies for building resilient portfolios amidst uncertainty, both geopolitical and domestic. Mike also provides insights on what's happening in Washington right now, including the risk of a second government shutdown, the latest from the Federal Reserve, and the challenges the White House is facing on affordability issues.
WashingtonWise is an original podcast for investors from Charles Schwab. For more on the series, visit schwab.com/WashingtonWise.
If you enjoy the show, please leave a ★★★★★ rating or review on Apple Podcasts
IMPORTANT DISCLOSURES
The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.
This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions.
All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.
​Past performance is no guarantee of future results.
Investing involves risk, including loss of principal.
All names and market data shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.
Diversification, asset allocation and rebalancing strategies do not ensure a profit and do not protect against losses in declining markets.
Rebalancing may cause investors to incur transaction costs and, when a non-retirement account is rebalanced, taxable events may be created that may affect your tax liability.
Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.
International investments involve additional risks, which include differences in financial accounting standards, currency fluctuations, geopolitical risk, foreign taxes and regulations, and the potential for illiquid markets.
High-yield securities and unrated securities of similar credit quality (junk bonds) are subject to greater levels of credit and liquidity risks and may be more volatile than higher-rated securities
Preferred securities are a type of hybrid investment that share characteristics of both stock and bonds. They are often callable, meaning the issuing company may redeem the security at a certain price after a certain date. Such call features, and the timing of a call, may affect the security’s yield. Preferred securities generally have lower credit ratings and a lower claim to assets than the issuer's individual bonds. Like bonds, prices of preferred securities tend to move inversely with interest rates, so their prices may fall during periods of rising interest rates. Investment value will fluctuate, and preferred securities, when sold before maturity, may be worth more or less than original cost. Preferred securities are subject to various other risks including changes in interest rates and credit quality, default risks, market valuations, liquidity, prepayments, early redemption, deferral risk, corporate events, tax ramifications, and other factors.
Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.
Currency trading is speculative, very volatile and not suitable for all investors
Indexes are unmanaged, do not incur management fees, costs, and expenses (and/or "transaction fees or other related expenses"), and cannot be invested in directly. For more information on indexes, please see ​schwab.com/indexdefinitions
The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.
The Charles Schwab Corporation provides a full range of brokerage and financial advisory services through its operating subsidiaries. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (Member SIPC [link to: https://www.sipc.org/] offers investment services and products, including Schwab brokerage accounts.
0126-4SFT 

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Policy and politics are likely to have an outsized impact on the markets in 2026 as the administration, Congress, and the courts seek to shape the policy landscape in advance of the midterm elections. In this episode of WashingtonWise, host Mike Townsend focuses on six issues that could directly impact investors in the year ahead, including Federal Reserve independence, geopolitical events like the U.S. military operation in Venezuela, and key debates in Congress around health care policy, government funding, and cryptocurrency regulation. And he discusses the impact to investors' portfolios and the markets in general that proposed rules from regulatory agencies like the SEC, CFTC, and Labor Department could bring. With additional insights on pivotal Supreme Court cases and the implications of the upcoming midterm elections, Mike emphasizes the podcast's mission to help investors cut through political and economic noise, providing clear, fact-based analysis to better understand what truly matters for markets and your investments.
WashingtonWise is an original podcast for investors from Charles Schwab. For more on the series, visit schwab.com/WashingtonWise.
If you enjoy the show, please leave a ★★★★★ rating or review on Apple Podcasts.
IMPORTANT DISCLOSURES
The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.
This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions.
All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.
Past performance is no guarantee of future results.
Investing involves risk, including loss of principal.
All names and market data shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.
Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.
Currency trading is speculative, very volatile and not suitable for all investors
Cryptocurrency-related products carry a substantial level of risk and are not suitable for all investors. Investments in cryptocurrencies are relatively new, highly speculative, and may be subject to extreme price volatility, illiquidity, and increased risk of loss, including your entire investment in the fund. Spot markets on which cryptocurrencies trade are relatively new and largely unregulated, and therefore, may be more exposed to fraud and security breaches than established, regulated exchanges for other financial assets or instruments. Some cryptocurrency-related products use futures contracts to attempt to duplicate the performance of an investment in cryptocurrency, which may result in unpredictable pricing, higher transaction costs, and performance that fails to track the price of the reference cryptocurrency as intended.
Futures and futures options trading involves substantial risk and is not suitable for all investors. Please read the Risk Disclosure Statement for Futures and Options, https://www.schwab.com/Futures_RiskDisclosure] prior to trading futures products.
The Charles Schwab Corporation provides a full range of brokerage and financial advisory services through its operating subsidiaries. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (Member SIPC [link to: https://www.sipc.org/] offers investment services and products, including Schwab brokerage accounts.
0126-UFXB

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.