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.
Don't just listen to podcasts. Learn from them with transcripts, summaries, and chapters for every episode. Skim, search, and bookmark insights. Learn more
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 "...
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 regulato...
After a rough first quarter of 2026, April saw the best monthly gain in major indexes in more than five years. Is it a sign that investors are refocusing on fundamentals and not overreacting to every geopolitical headline? On the latest episode of WashingtonWise , Liz Ann Sonders, Schwab's chief investment strategist, joins host Mike Townsend for an engaging discussion about the market, the economy, and whether the latest rally can be sustainable. Liz Ann shares her perspective on the strong cor...
A rocky first quarter for the equities markets gave way to a surprisingly strong start to April, despite ongoing uncertainty from the Middle East conflict, stubborn gas prices, and supply chain disruptions. On this episode, host Mike Townsend is joined by Joe Mazzola, head trading and derivatives strategist at Charles Schwab, for a discussion about what's driving the market right now and whether the April rally is sustainable. Joe shares his insights on relief rallies, the start to earnings seas...
Mike Townsend analyzes the negative Q1 2026 market returns, attributing them to investor concerns about the war in Iran, which has disrupted global oil supplies and led to inflation fears. He delves into Washington's political landscape, covering the ongoing Homeland Security shutdown, congressional budget battles, and the uncertain leadership transition at the Federal Reserve amidst a criminal investigation. Additionally, Townsend highlights significant regulatory changes, including proposals for semi-annual earnings reports and allowing alternative assets in retirement plans, concluding with insights into the high number of congressional retirements and his forecast for a split Congress after the midterm elections.
The war in Iran has created uncertainty in both the equity markets and the bond markets, as even the Federal Reserve acknowledged in its recent decision to hold interest rates steady. In this episode of WashingtonWise , Collin Martin, head of fixed income research and strategy at Charles Schwab, joins host Mike Townsend to discuss how fixed income investors can navigate the unusual volatility in the bond market. Collin shares his perspective on next steps for the Fed, whether bonds are still the...
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 ...
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 ...
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 sugges...
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 buil...
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, gove...
Affordability is the political buzzword of the moment, contributing to a widening gap between what consumers and investors think about the economy versus how the economy is actually performing. In this episode, Kevin Gordon, head of macro research and strategy at the Schwab Center for Financial Research, joins host Mike Townsend to discuss how affordability, though difficult to define, is shaping consumer sentiment and policy debates, especially as economic data and public perception diverge. Ke...
The longest government shutdown in U.S. history may be over, but Washington now finds itself facing several tough issues that will have significant implications for the markets and the economy. In this episode of WashingtonWise , host Mike Townsend examines the fallout from the shutdown, including the risk of another shutdown in early 2026, how the lack of government economic data could impact the Fed's December decision on rate cuts, and how the ongoing debate over health care subsidies remains...
With the Fed cutting rates and the bull market in stocks continuing its run of more than three years, some investors are wondering whether bonds still play an important role in a portfolio. On this episode, host Mike Townsend and guest Collin Martin, managing director and head of fixed income research and strategy at Schwab, discuss why bonds still matter when it comes to providing stability in a diversified portfolio. Collin shares his perspective on how mortgage-backed securities, internationa...
We are living in highly emotional times. But how can investors make sure those emotions don't get in the way of good investing decisions? In this episode of WashingtonWise , host Mike Townsend welcomes Stephanie Shadel, senior wealth advisor at Charles Schwab, for a timely discussion on managing emotions during turbulent markets and the impact of Washington policy decisions on investing. Steph shares practical strategies for keeping emotions in check, building a financial plan, and consideration...
The bull market has been running since April, despite persistent economic and political headwinds, including tariffs, sticky inflation, a weakening jobs outlook, questions about the Fed's independence, and now a government shutdown. On this episode of WashingtonWise , Joe Mazzola, head trading and derivatives strategist at Charles Schwab, joins host Mike Townsend to discuss traders’ perspectives on whether this market can sustain its momentum amid policy and political uncertainty. Joe shares his...
At last week's remarkable Federal Reserve meeting, the Fed's decision to cut the baseline interest rate for the first time in 2025 took a backseat to questions over which members would get to vote at the meeting. On this episode, Kathy Jones, Schwab's chief fixed income strategist, joins host Mike Townsend to break down the Fed's struggle to balance inflation concerns with a softening job market—and what they might do if they get it wrong. They also look at the political drama surrounding Fed Go...
The coming weeks will see a series of major policy decisions in Washington that will play out in Congress and in the courts. On this episode, host Mike Townsend explores five key issues that are nearing resolution and discusses how the markets may react. He examines the Federal Reserve's plan to resume cutting interest rates and how the president's attempt to fire a Fed governor means the courts will have to resolve a fundamental question regarding the Fed's long-established independence. Mike a...
2025 has been the Year of the Tariff. Since he took office, President Trump has unveiled aggressive tariffs on imports from foreign countries, reshaping U.S. trade policy, sending the markets on a roller-coaster ride, and causing uncertainty for companies of all types. Now a new deadline of August 1 looms that could bring higher tariffs on imports from dozens of countries. On this episode, host Mike Townsend is joined by Michelle Gibley, director of international research at the Schwab Center fo...
As cryptocurrency makes its way into the investing mainstream, investors have lots of questions. In today's episode, Nate Peterson, director of derivatives analysis at the Schwab Center for Financial Research, joins host Mike Townsend for a timely discussion that covers cryptocurrency basics, how this technology could evolve, and how Washington is taking notice by moving forward on the first-ever crypto legislation. Nate explains cryptocurrency, stablecoins, the blockchain, and the opportunities...
The One Big Beautiful Bill, the Republicans’ massive tax and spending package, has passed the House of Representatives, but now the Senate is making significant changes to the legislation. In this episode, host Mike Townsend takes a closer look at what’s in the bill and how it may affect taxpayers, investors, and the markets. He examines the key differences between the House-passed bill and the Senate version, discusses the most contentious issues that are still unresolved, and looks at the timi...
Financial fraud is not new, but it evolves so quickly that it can be hard to keep track of the latest developments. Host Mike Townsend is joined on this episode by DJ Johnson, managing director of financial crimes risk management at Charles Schwab, for an informative discussion of what kinds of financial scams are proliferating now and how investors can protect themselves. DJ highlights how fraudsters are using new techniques with artificial intelligence and voice impersonation and describes som...
Jun 05, 2025•33 min•Ep. 120
For the best experience, listen in Metacast app for iOS or Android
