While most investors are thrilled with 2024's market performance, many are also anxious about the future, particularly with the uncertainty of how the incoming administration's policies could impact the markets. On the final WashingtonWise episode of the year, host Mike Townsend is joined by Kevin Gordon, Schwab's senior investment strategist, to discuss why the markets are more attuned than usual to the policy and political environment, and how investors should position themselves for a potential increase in market volatility in 2025. Mike and Kevin break down five major policy issues—immigration, tariffs, taxes, the budget deficit, and deregulation—and how the markets are thinking about the potential changes that could emerge from President-elect Trump and the Republican-controlled Congress. Kevin also offers his thoughts on how investors should approach 2025. Check out the 2025 outlook article from Kevin and Liz Ann: "U.S. Stocks and Economy 2025 Outlook."WashingtonWise is an original podcast for investors 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 DISCLOSURES:Investors should consider carefully information contained in the prospectus, or if available, the summary prospectus, including investment objectives, risks, charges, and expenses. You can request a prospectus by calling 800-435-4000. Please read the prospectus 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. All expressions of opinion are subject to changes without notice in reaction to shifting market, economic, and geopolitical conditions. Data herein 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.Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.Investing involves risk, including loss of principal.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.The information and content provided herein is general in nature and is for informational purposes only. It is not intended, and should not be construed, as a specific recommendation, individualized tax, legal, or investment advice. Tax laws are subject to change, either prospectively or retroactively. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager) to help answer questions about specific situations or needs prior to taking any action based upon this information.Diversification and asset allocation strategies do not ensure a profit and cannot protect against losses in a declining market.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, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.Rebalancing does not protect against losses or guarantee that an investor's goal will be met. Rebalancing may cause investors to incur transaction costs and, when a non-retirement account is rebalanced, taxable events may be created that may affect your tax liability.Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. For more information on indexes, please see Schwab.com/IndexDefinitions.Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.1224-B65R
