On this episode of WashingtonWise, Liz Ann Sonders, chief investment strategist at Charles Schwab, joins host Mike Townsend for a wide-ranging discussion about what’s driven the wild swings in the market in 2025 and what’s on the horizon for the rest of the year. Liz Ann dives into the constantly evolving tariff and fiscal policies and how they are making it harder for companies to plan and for investors to know where things are headed. She shares her thoughts on the latest economic data, including jobs numbers, GDP, and inflation—and whether recession risk has eased in recent weeks. She also discusses the challenge facing the Federal Reserve as it tries to sort through conflicting signals. And she offers her thoughts on how investors can navigate this uncertain environment.

Mike also provides an update from Washington on the ongoing negotiations as the House of Representatives tries to approve the massive bill of tax cuts and spending cuts and the $4 trillion increase in the debt ceiling.

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

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Market Uncertainty Seems Like the Only Sure Thing