Uploaded September 2026 | Updated September 2026, 1 week ago
Fed Chair Kevin Warsh's Jackson Hole speech struck a more hawkish tone than investors expected, increasing the likelihood of another rate hike as the Fed remains focused on persistent inflation. Collin Martin and Liz Ann Sonders discuss what that means for markets, why the speed and purpose of rate hikes matter more than any specific interest-rate level, and how investors may be entering a new era of higher inflation volatility, shifting stock-bond relationships, and increased market sensitivity to economic data. Finally, they look ahead to the indicators and data that could matter most to investors in the coming week.
On Investing is an original podcast from Charles Schwab (https://schwab.com) . For more on the show, visit schwab.com/OnInvesting (schwab.com/OnInvesting) .
If you enjoy the show, please leave a rating or review on Apple Podcasts (http://getpodcast.reviews/id/1711806955) .
Important Disclosures
This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The securities, investment products and 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.
Past performance is no guarantee of future results.
Investing involves risk, including loss of principal.
Diversification and asset allocation strategies do not ensure a profit and do not protect against losses in declining markets.
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.
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.
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.
Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.
The policy analysis provided by Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.
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
A hyperscaler is a large-scale cloud service provider that offers vast computing, storage, and networking resources through a distributed infrastructure of interconnected servers and software.
Negative correlation refers to investments that tend to move in opposite directions: when one rises, the other falls.
(0926-41YN)
Fed Chair Kevin Warsh's Jackson Hole speech struck a more hawkish tone than investors expected, increasing the likelihood of another rate hike as the Fed remains focused on persistent inflation. Collin Martin and Liz Ann Sonders discuss what that means for markets, why the speed and purpose of rate hikes matter more than any specific interest-rate level, and how investors may be entering a new era of higher inflation volatility, shifting stock-bond relationships, and increased market sensitivity to economic data. Finally, they look ahead to the indicators and data that could matter most to investors in the coming week.
On Investing is an original podcast from Charles Schwab (https://schwab.com) . For more on the show, visit schwab.com/OnInvesting (schwab.com/OnInvesting) .
If you enjoy the show, please leave a rating or review on Apple Podcasts (http://getpodcast.reviews/id/1711806955) .
Important Disclosures
This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The securities, investment products and 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.
Past performance is no guarantee of future results.
Investing involves risk, including loss of principal.
Diversification and asset allocation strategies do not ensure a profit and do not protect against losses in declining markets.
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.
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.
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.
Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.
The policy analysis provided by Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.
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
A hyperscaler is a large-scale cloud service provider that offers vast computing, storage, and networking resources through a distributed infrastructure of interconnected servers and software.
Negative correlation refers to investments that tend to move in opposite directions: when one rises, the other falls.
(0926-41YN)
