In this year-end episode of WashingtonWise, Mike Townsend takes a hard look at three big issues facing Congress and the president: raising the debt ceiling to keep the U.S. from defaulting on its debts, decisions on the Build Back Better Act with far-reaching implications for climate change and the social safety net, and major changes ahead for the makeup of the Federal Reserve that could impact the direction of the economy for years to come.WashingtonWise Investor is an original podcast 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. 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.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market 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. Supporting documentation for any claims or statistical information is available upon request.The information provided here is for general informational purposes only and is not intended to be a substitute for specific individualized tax, legal or investment planning advice. Where specific advice is necessary or appropriate, consult with a qualified tax advisor, CPA, financial planner or investment manager.Investing involves risk, including loss of principal.

WashingtonWise Investor

Three Unresolved Issues Congress Must Address

Those looking to invest in companies whose values align with theirs when it comes to environmental, social, and governance factors, known as ESG, are working toward a dual bottom line: They are seeking positive results for the causes they support and positive returns for their portfolios. Michael Iachini, managing director and head of manager research at the Charles Schwab Investment Advisory, joins Mike Townsend to discuss the state of ESG investing, whether investors can make a profit while also supporting causes they believe in, how to determine whether a company truly shares your values, and what steps Washington is taking to develop standards and ensure they are met.Mike also recaps the passage of the infrastructure bill, considers the timing for passing the Build Back Better bill, and looks at the growth of stablecoins, their risks, and Congress’s interest in taking the first steps toward a cohesive regulatory environment for cryptocurrencies.WashingtonWise Investor is an original podcast 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.Important Disclosures:Investors should consider carefully information contained in the prospectus or, if available, the summary prospectus, including investment objectives, risks, charges, and expenses. Please read it 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.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market 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. Supporting documentation for any claims or statistical information is available upon request.Because environmental, social and governance (ESG) strategies exclude some securities, ESG-focused products may not be able to take advantage of the same opportunities or market trends as products that do not use such strategies. Additionally, the criteria used to select companies for investment may result in investing in securities, industries or sectors that underperform the market as a whole.Digital currencies, such as bitcoin, are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view Bitcoin as a purely speculative instrumentInvesting involves risk, including loss of principal.Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.(1121-15FB)

Can Your Portfolio Make an Impact and a Profit?

In this episode of WashingtonWise Investor, Mike Townsend continues his discussion with Liz Ann Sonders, Schwab’s chief investment strategist. They dive into the myriad changes currently buffeting the economy, including reductions in the labor market, bottlenecks in the supply chain, evolving views on work/life balance, and new policies coming out of Washington. Liz Ann shares her perspective on what it all means for the markets, where investors might find opportunities, and what investors should be watching for in the months ahead.Mike provides updates on the latest developments in the fast-moving debate over economic legislation on Capitol Hill and the potential for a very different approach to tax increases. He also discusses the prospects for the long-delayed infrastructure bill, a new report from the SEC on the "meme stock" trading frenzy, and why the new head of the Consumer Financial Protection Bureau is someone to watch.WashingtonWise Investor is an original podcast 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.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.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.All expressions of opinion are subject to change without notice in reaction to shifting market 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.This information does not constitute and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager.Investing involves risk, including loss of principal.All corporate names are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.Currencies are speculative, very volatile and are not suitable for all investors.Indexes are unmanaged, do not incur management fees, costs and expenses and cannot be invested in directly. For more information on indexes please see www.schwab.com/indexdefinitions.Correlation is a statistical measure of how two investments have historically moved in relation to each other, and ranges from -1 to +1. A correlation of 1 indicates a perfect positive correlation, while a correlation of -1 indicates a perfect negative correlation. A correlation of zero means the assets are not correlated. 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 nonretirement account is rebalanced, taxable events may be created that may affect your tax liability.(1021-1L2H)

Reading the Signs of Change and Finding Opportunity

While the markets continue to keep a wary eye on the slowly unfolding dramas in Washington, there is plenty more threatening to roil the markets in the fourth quarter and beyond. Liz Ann Sonders, Schwab’s chief investment strategist, joins the podcast for the first of a two-part conversation with host Mike Townsend to break it all down. They discuss how the market is reacting to the ongoing debates in Washington, including the decision to put off the debt ceiling fight until December, as well as bigger picture challenges the market is facing, from inflation to the rising national debt to a potential change in leadership at the Federal Reserve. Mike also provides his perspective on the latest developments with key issues on Capitol Hill, a breakthrough international tax agreement, and the SEC chairman’s latest comments on cryptocurrency.WashingtonWise Investor is an original podcast 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. 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.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market 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. Investing involves risk, including loss of principal. Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.This information does not constitute and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager.Digital currencies, such as bitcoin, are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view Bitcoin as a purely speculative instrument.Indexes are unmanaged, do not incur management fees, costs and expenses and cannot be invested in directly. For more information on indexes please see www.schwab.com/indexdefinitions1021-1L20

Anxious Markets Eye Speed Bumps Ahead

As Congress continues to struggle with a quartet of complex policy issues, it’s no exaggeration to say that the bull market and the economy are at risk. On this episode of WashingtonWise Investor, Randy Frederick, Schwab’s managing director of trading and derivatives, joins host Mike Townsend to discuss how the market might react, how investors could prepare for potential market disruptions, and how there might be opportunities for investors even as the risks to the market grow. They also talk about the rising popularity of cryptocurrencies, the role of crypto in the economy of the future, and whether greater government scrutiny of digital currencies will eventually help increase the confidence of ordinary investors.Mike also offers updates on the SEC chairman confronting the reality that his ambitious regulatory agenda may take longer than he hoped, and how two surprise resignations could reshape the Federal Reserve as the central bank heads into a critically important year. WashingtonWise Investor is an original podcast 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.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.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market 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.Investing involves risk, including loss of principal. Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.Indexes are unmanaged, do not incur management fees, costs and expenses and cannot be invested in directly. For more information on indexes please see www.schwab.com/indexdefinitionsDiversification and asset allocation strategies do not ensure a profit and cannot protect against losses in a declining market.There is no guarantee that execution of a stop order will be at or near the stop price.Correlation is a statistical measure of how two investments have historically moved in relation to each other, and ranges from -1 to +1. A correlation of 1 indicates a perfect positive correlation, while a correlation of -1 indicates a perfect negative correlation. A correlation of zero means the assets are not correlated.Digital currencies, such as bitcoin, are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view Bitcoin as a purely speculative instrument.All corporate names are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.Currencies are speculative, very volatile and are not suitable for all investors.Supporting documentation for any claims or statistical information is available upon request.(0921-1L1G)

Can D.C. Chaos Halt the Bull Market?

After a long stretch of inaction, things are busy in Washington as deadlines approach for funding the government for the next fiscal year and raising the debt ceiling. Mike Townsend dives into each of the issues and considers the likelihood of either a government shutdown or worse—the U.S. defaulting on its debts should Congress fail to act. He also looks at the two key spending issues that Congress is facing, the bipartisan infrastructure bill and the Democrats’ framework for a $3.5 trillion spending package, including the proposed tax changes within the plan that are designed to offset the spending. Mike offers his thoughts on the timing and likely outcome for all four of these issues. Finally, he updates what’s happening at the SEC and its efforts to address the “gamification” of securities trading.WashingtonWise Investor is an original podcast 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. 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.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market 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. Investing involves risk, including loss of principal. Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.(0921-1SN9)

Big Issues, Tight Deadlines May Rattle the Markets

On this episode of WashingtonWise Investor, Kathy Jones, Schwab’s chief fixed income strategist, joins Mike Townsend to decipher the economy’s mixed signals. While the S&P is up around 17% for the year, many investors can’t help being concerned about slow job growth, the quick rise of inflation, and what repercussions the surge of the Delta variant may have. Kathy and Mike discuss what investors should be watching for.Mike also looks into the daunting task before Congress as lawmakers struggle to finalize an infrastructure bill and lay the groundwork for another economic package that could include tax increases. And he assesses the potential for the U.S. to default on its debts if the debt ceiling isn’t raised, all while a government shutdown is looming if funding for federal agencies is not approved by October 1.WashingtonWise Investor is an original podcast 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. 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.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market 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. Investing involves risk, including loss of principal. Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications and other factors. Lower rated securities are subject to greater credit risk, default risk, and liquidity risk.Indexes are unmanaged, do not incur management fees, costs and expenses and cannot be invested in directly. For more information on indexes please see www.schwab.com/indexdefinitions.0712-1L12

Confusing Economic Signals: What’s Going On?

The two-year suspension of the debt ceiling expires on July 31. To avoid the U.S. defaulting on its debts, Congress must act to either extend the suspension or raise the debt limit. Mike Townsend looks at the history of the debt ceiling, the challenges Congress faces in addressing it, and why procrastination could spark market volatility in the weeks ahead.Mike also offers an update on the Senate’s two-pronged approach to infrastructure and other spending priorities and the aggressive timeline Senate Majority Leader Schumer has set for getting the bills finished. He also looks at Fed Chair Jerome Powell’s testimony before Congress this week and the growing divide at the Fed over when to begin easing its support for the economy, as well as the SEC’s focus on what constitutes a “green” fund. And he considers what President Biden’s recent executive order on competition means, what industries it impacts, and the timeline for change. WashingtonWise Investor is an original podcast 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. Important DisclosuresThe policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market 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. Investing involves risk, including loss of principal. Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.Socially screened or Environmental, Social, and Governance (ESG) strategies exclude certain investments and therefore may not be able to take advantage of the same opportunities or market trends as strategies that do not use social screens.0721-1UJE

Debt Ceiling Disruption: Volatility Ahead?

Investors can’t shake their concerns about major issues that Congress continues to wrestle with—especially when it comes to the volatility they can bring to the markets. In this episode of WashingtonWise Investor Mike Townsend offers updates on questions that continue to plague investors, including the slow progress of an infrastructure bill, what’s happening with proposed new taxes and whom they would hit hardest, why the massive deficits and debt are still growing, the outlook for action on the looming debt ceiling, and the progress of bills targeting anti-competitive practices and their impact on key tech stocks that virtually every U.S. investor has in their portfolio, whether they know it or not. WashingtonWise Investor is an original podcast 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. Important Disclosures:The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market 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. 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.Investing involves risk, including loss of principal. Indexes are unmanaged, do not incur management fees, costs and expenses and cannot be invested in directly. For more information on indexes please see www.schwab.com/indexdefinitions.Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.All corporate names are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.0721-1UYR

On Your Mind: Investors’ Top Mid-Year Questions

On this episode of WashingtonWise Investor, Mike and Liz Ann Sonders, Schwab’s chief investment strategist, dig into where we are with inflation, including the root causes of the current spike in prices, where things are starting to ease, and what may lie ahead. They focus on the potential impact of job and wage growth on the economy and inflation as small businesses begin to reopen, bonus unemployment insurance ends, and more women return to the workforce. And they also look for areas of opportunity for investors in the markets, exploring the factors of growth and value.Mike also discusses the latest efforts to wrangle an infrastructure bill through Congress, an ambitious plan to overhaul the equity markets outlined by SEC Chairman Gary Gensler, and stepped-up efforts in the House of Representatives to crack down on big tech companies over anti-trust issues. WashingtonWise Investor is an original podcast 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. Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market 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. 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.Investing involves risk, including loss of principal. Indexes are unmanaged, do not incur management fees, costs and expenses and cannot be invested in directly. For more information on indexes please see www.schwab.com/indexdefinitions.Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.All corporate names are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications and other factors. Lower rated securities are subject to greater credit risk, default risk, and liquidity risk.Small cap investments are subject to greater volatility than those in other asset categories.Commodity-related products carry a high level of risk and are not suitable for all investors. Commodity-related products may be extremely volatile, illiquid and can be significantly affected by underlying commodity prices, world events, import controls, worldwide competition, government regulations, and economic conditions.Since a sector fund is typically not diversified and focuses its investments on companies involved in a specific sector, the fund may involve a greater degree of risk than an investment in other mutual funds with greater diversification.0621-16H4

Putting Inflation in Perspective

Until recently, the administration’s approach to foreign policy has been low key, but now President Biden is headed out on his first international trip—attending the G7 summit and a NATO meeting. Jeff Kleintop, Schwab’s chief global investment strategist, joins host Mike Townsend to discuss the president’s efforts to build multilateral support for a global minimum tax and combat climate change. They also share insights on the global economic expansion, progress with China on intellectual property, and rising tensions over Taiwan, as well as the global semiconductor shortage and how it is impacting U.S. production.Mike also shares his thoughts on the improving outlook for a bipartisan infrastructure plan; the new bipartisan retirement savings bill in the Senate; the SEC’s focus on cryptocurrency, SPACs, and the use of social media to spark retail investing; and an overview of the bumpy road ahead for Biden’s 2022 budget proposal.WashingtonWise Investor is an original podcast 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. Important DisclosuresInvestors should consider carefully information contained in the prospectus or, if available, the summary prospectus, including investment objectives, risks, charges, and expenses. Please read it 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.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.All expressions of opinion are subject to change without notice in reaction to shifting market 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 and the opinions presented cannot be viewed as an indicator of future performance.Investing involves risk including loss of principal.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. Investing in emerging markets may accentuate these risks.Digital currencies, such as bitcoin, are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view Bitcoin as a purely speculative instrument.(0621-138B)

Global Investing During Economic Expansion

The new SEC Chair, Gary Gensler, is known for getting things done. But he is faced with an ambitious agenda, including protecting small investors who are increasingly trading through apps on their phones, regulating the exploding cryptocurrency world, encouraging corporate transparency as socially responsible investing grows in popularity, and overseeing the proliferation of SPACs. Host Mike Townsend explores whether Gensler can strike the proper balance to ensure a safe environment for individual investors while keeping the markets running efficiently and promoting transparency from corporations. Also in this episode, Mike covers the latest on the negotiations on Capitol Hill over infrastructure spending and tax increases and the growing support for retirement savings legislation in Congress.WashingtonWise Investor_ is an original podcast 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. Important DisclosuresThe policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market 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. Investing involves risk, including loss of principal. Digital currencies, such as bitcoin, are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view Bitcoin as a purely speculative instrument.Whether you are investing in a SPAC by participating in its IPO or by purchasing its securities on the open market following an IPO, you should carefully read the SPAC’s IPO prospectus as well as its periodic and current reports filed with the SEC pursuant to its ongoing reporting obligations.All corporate names are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. (0521-13K9)

What Does a Busy SEC Agenda Mean for Investors?

The administration’s new tax proposals cover a lot of ground, but it’s up to Congress to turn the proposals into actual legislation. There is zero guarantee that they will make it into a bill at all, and if they do, the proposals are likely to look a lot different. Hayden Adams, director of tax and financial planning at the Schwab Center for Financial Research, joins Mike to look at what’s driving the proposals and what elements are up for debate—and to address investors’ concerns about their potential impact. Mike also discusses the prospects for a new bipartisan retirement savings bill on Capitol Hill, the SEC’s announcement that it will delay a key decision on cryptocurrency, and the long road ahead on drawing new Congressional districts before the 2022 election.WashingtonWise Investor is an original podcast 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. 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.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market 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. Investing involves risk, including loss of principal. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.This information does not constitute and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager.Digital currencies, such as bitcoin, are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view Bitcoin as a purely speculative instrument.0521-1Y69 

New Tax Proposals: Can They Get Through Congress?

When it comes to what’s going on in D.C., investors have a lot on their minds. In this episode of WashingtonWise Investor,Mike Townsend addresses seven of the top questions he most frequently hears from investors these days. He offers deep insights on China, the outlook for a bipartisan approach to an infrastructure bill, inflation concerns, Congress’s attitude toward the growing debt and deficit, the future for cryptocurrency, and the possibility of ending the filibuster. WashingtonWise Investor is an original podcast 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 PodcastsImportant DisclosuresThe policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market 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. Investing involves risk, including loss of principal. Treasury Inflation Protected Securities (TIPS) are inflation-linked securities issued by the US Government whose principal value is adjusted periodically in accordance with the rise and fall in the inflation rate. Thus, the dividend amount payable is also impacted by variations in the inflation rate, as it is based upon the principal value of the bond. It may fluctuate up or down. Repayment at maturity is guaranteed by the US Government and may be adjusted for inflation to become the greater of the original face amount at issuance or that face amount plus an adjustment for inflation.Digital currencies, such as bitcoin, are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view Bitcoin as a purely speculative instrument.0421-19HE

7 Questions at the Top of Investors’ Minds

In this episode of WashingtonWise Investor, Randy Frederick, Schwab’s vice president for trading and derivatives, joins host Mike Townsend to reflect on a stellar market that broke trading volume records in Q1 and offer insight on the key issues for investors to watch in Q2. They discuss whether the forward momentum is likely to continue or if the market is headed for a pullback, as well as the outlook for the new infrastructure plan, whether the retail trading frenzy around “meme stocks” is over, the rise of SPACs, and the future of cryptocurrency.Mike also offers his insights on the prospects for the White House’s infrastructure plan on Capitol Hill and how the Federal Trade Commission is positioned to take on a major role in the battle between Washington and Big Tech.WashingtonWise Investor is an original podcast 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. 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. The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market 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. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance. Investing involves risk, including loss of principal. All corporate names are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.Correlation is a statistical measure of how two investments have historically moved in relation to each other, and ranges from -1 to +1. A correlation of 1 indicates a perfect positive correlation, while a correlation of -1 indicates a perfect negative correlation. A correlation of zero means the assets are not correlated.Indexes are unmanaged, do not incur management fees, costs and expenses and cannot be invested in directly. For more information on indexes please see www.schwab.com/indexdefinitions. When considering a margin loan, you should determine how the use of margin fits your own investment philosophy. Because of the risks involved, it is important that you fully understand the rules and requirements involved in trading securities on margin.Digital currencies, such as bitcoin, are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view Bitcoin as a purely speculative instrument.(0421-1U9D)

Key Market Drivers to Watch in Q2

Our finances, portfolios and the markets are affected daily by the policies and politics coming out of Washington. In each episode of WashingtonWise Investor, 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.

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