In this episode, Kathy and Liz Ann open by discussing the implications of the recent rate cut by the Federal Reserve, focusing on the labor market and upcoming economic indicators. They explore how the rate cut may affect various economic sectors, including borrowing rates and consumer spending. They also highlight the importance of under-the-surface labor market data in predicting future Fed actions.

Liz Ann Sonders, Schwab's Chief Investment Strategist, interviews Doug Ramsey, Chief Investment Officer of the Leuthold Group. They discuss the implications of the Federal Reserve's easing cycle on the economy, focusing on labor market dynamics, employment indicators, and the current state of the equity market. They analyze the recent bull market, its origins, and the potential for emerging leadership in various sectors, while also addressing the significance of the yield curve and market valuations.

Finally, Kathy and Liz Ann offer their outlook for next week's economic data and indicators.

On Investing is an original podcast from Charles Schwab. For more on the show, visit schwab.com/OnInvesting.

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Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.

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All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.

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

Tens/Twos or 10s/2s refers to the spread between the 10-Year Treasury maturity rate minus the 2-Year Treasury maturity rate. The rates are comprised of Market Matrix U.S. Generic spread rates (USYC2Y10). This spread is a calculated Bloomberg yield spread that replicates selling the current 2-year U.S. Treasury Note and buying the current 10-year U.S. Treasury Note, then factoring the differences by 100.

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