Implications for Fed Leadership and Markets

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.

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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.

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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.

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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.

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