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WashingtonWise

WashingtonWise

By: Charles Schwab
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Our finances, portfolios and the markets are affected daily by the policies and politics coming out of Washington. In each episode of WashingtonWise, host Mike Townsend, Charles Schwab’s Vice President for Legislative and Regulatory Affairs, focuses a non-partisan eye on the stories that matter most to investors, and his guests offer actionable suggestions for what to do--and what not to do--with your portfolio. Podcasts are for informational purposes only. This channel is not monitored by Charles Schwab. Please visit schwab.com/contactus for contact options.2026 Charles Schwab & Co., Inc. All rights reserved. Member SIPC. Unauthorized access is prohibited. Usage will be monitored. Economics Personal Finance Political Science Politics & Government
Episodes
  • Strong Bond Market Catching Investors' Attention

    Strong Bond Market Catching Investors' Attention
    Jun 18 2026
    With high-profile IPOs generating investor excitement but also increasing volatility in the stock market, it's a good time to remember that bonds can help smooth volatility in your portfolio. In this episode, host Mike Townsend is joined by Collin Martin, head of fixed income research and strategy at the Schwab Center for Financial Research, for a timely discussion on the state of the bond market. Collin dives into what the latest inflation and jobs numbers are telling us about the economy and how the Federal Reserve is likely to stay cautious rather than rush into more rate moves. He examines how the arrival of new Chair Kevin Warsh at the Fed could change the way the central bank communicates and the implications of that for the markets. And he surveys where opportunities may exist across the fixed income landscape—from ultra-short bond funds to investment-grade corporates, high-yield bonds, preferred securities, and municipal bonds. Mike also shares the latest from Washington, including the latest evidence that the government funding process is breaking down, worrisome news about Social Security, and an under-the-radar confirmation hearing that goes to the heart of the debate about the integrity of economic data. 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 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. You can request a prospectus via 800-435-4000. Please read the prospectus carefully before investing. ​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. 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. High-yield securities are considered predominately speculative with respect to the issuer’s continuing ability to make principal and interest payments. 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. International investments involve additional risks, which include differences in financial accounting ...
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    40 mins
  • Bad Vibes Appear No Match for This Bull Market

    Bad Vibes Appear No Match for This Bull Market
    Jun 4 2026
    After a negative performance during the first quarter, the market has surged, with April and May producing one of the best two-month performances on record. But can the bull market keep going? On this episode, host Mike Townsend welcomes Kasey McCurdy, chief portfolio strategist with Schwab Wealth Advisory™, for an engaging discussion about why the market's powerful recent rally may be more durable than it appears, but also why caution is still warranted. They discuss how momentum and investor "FOMO" have played a role in the recent run, but it is strong corporate earnings that have been the primary driver. They dig into the evolution of AI investing as the focus shifts from infrastructure builders to companies that can effectively monetize and apply AI, with future returns hinging on proving real return on investment rather than just hype. Kasey and Mike also discuss the disconnect between strong markets and weak consumer sentiment, how investors should be thinking about the upcoming mega-IPOs and why it’s an important time for investors to consider rebalancing their portfolios. Mike also shares his perspective on some of the latest headlines coming out of Washington, including how an increasing number of "free agent" Republicans could derail the president’s policy agenda and the launch of the new Trump Accounts for children. 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. 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. Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data. 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. Hyperscalers are large-scale cloud-service providers with vast, global networks of data centers. 0626-T7CC Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
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    34 mins
  • Ready or Not, the Digital Stock Market Is Coming

    Ready or Not, the Digital Stock Market Is Coming
    May 21 2026
    Show Notes: One of the hottest buzzwords on Wall Street is "tokenization." While the term has long been used in the context of cryptocurrency, exchanges and companies are moving quickly to create digital stocks. On this episode, host Mike Townsend is joined by Jim Ferraioli, director of digital currencies research and strategy at the Schwab Center for Financial Research, for a timely discussion on the implications of tokenization for investors, exchanges, and companies. They discuss how regulators and Congress are moving quickly to make digital stock trading a reality in the United States, the potential cost savings for companies of tokenization, and how investors are driving demand for digital stocks that offer all investors the ability to trade 24 hours a day, seven days a week, and settle almost instantly. Jim offers his thoughts on how and why this evolving development using blockchain technology could impact the markets. Mike also provides updates on the latest developments in Washington, including the arrival of Kevin Warsh as the new chair of the Federal Reserve, the debate on Capitol Hill over a federal gas tax holiday, and the progress of a bipartisan housing reform bill in Congress. 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. 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. 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 strategies do not ensure a profit and do not protect against losses in declining markets. 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. Alternative investments cover a wide array of strategies, including real estate, private equity, private credit, and hedge funds. Risks will vary based on each unique strategy and can include investments in highly illiquid assets or securities, use of leverage, higher fees, lower transparency, tax risks, and limited ability to redeem or limited transferability. Investing in cryptocurrencies involves risk, including the risk of total loss of principal invested. Cryptocurrencies [such as bitcoin and ethereum] are highly volatile, are not backed or guaranteed by the bank, any central bank or government; are not deposits; are not FDIC insured; are not SIPC protected; and lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. 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. 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 ...
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    30 mins
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