Kevin Warsh’s second Fed meeting left investors questioning whether the new Fed chair is willing to back up his inflation talk with action.

Chuck Zodda and Mike Armstrong break down why markets initially held up after the Fed left rates unchanged, how Warsh’s press conference lost credibility with investors, and why the bond market reaction matters for mortgage rates, inflation expectations, and the broader financial system. They also discuss the weaker-than-expected GDP headline, why the underlying economic data looked stronger than the top-line number, and what Microsoft and Meta revealed about the AI spending boom. Plus, they explain why investors rewarded Microsoft’s cost discipline, punished Meta’s rising expenses, and what the blowup of the AI-focused hedge fund Situational Awareness says about leverage, risk, and the volatility behind the semiconductor trade.

Microsoft and Meta head into earnings with investors asking whether the massive spending behind artificial intelligence can actually produce the returns needed to justify the cost.

Chuck Zodda and Paul Lane break down why hyperscaler CapEx is becoming a bigger concern for markets, how depreciation from trillions in AI infrastructure spending could pressure future profits, and why companies may need enormous new AI revenue just to break even on the buildout. They also discuss Mark Zuckerberg’s pushback against AI regulation, the risks of increasingly powerful AI agents, Ford’s outlook as buyers keep favoring trucks and SUVs, FIFA’s reported effort to attract outside investors, Nike’s struggles in China, and why DoorDash’s FAA approval for drone delivery raises new questions about technology, jobs, and public safety.

Kevin Warsh is facing one of the most uncertain Fed meetings in years as markets split over whether the central bank will hold rates steady or send a stronger inflation signal with a hike.

Chuck Zodda and Paul Lane break down why today’s Fed decision matters, how Warsh could build credibility with the bond market, and why even a small rate hike could carry major signaling power. They also discuss the renewed jump in oil prices, the unstable path of the conflict involving Iran, Iraq, Saudi Arabia, and the Strait of Hormuz, and why energy markets remain difficult to predict. Plus, Todd Lutsky joins for Ask Todd to explain when irrevocable trusts make sense, why a revocable trust may not be the right first step for Medicaid planning, and how long-term care insurance can fit into a broader estate plan.

As investors rotate out of chip stocks and question the AI spending boom, Apple is suddenly standing out for what it has not done.

Mike Armstrong and Paul Lane discuss the continued selloff in tech and semiconductor stocks, Apple reclaiming the title of the world’s most valuable company, and why its slower approach to artificial intelligence may be helping the stock even as valuation and input-cost concerns remain. They also break down the retirement math many people miss, including rising housing, insurance, healthcare, dental, and long-term care costs. Plus, they look at whether AI customer service is ready to replace human workers, why Starbucks is still struggling to revive growth, and why companies like Cracker Barrel keep turning to older executives when a turnaround gets messy.

The AI trade is facing a tougher test as chip stocks sell off, Korean markets tumble, and investors question whether the massive spending behind artificial intelligence can keep delivering returns.

Mike Armstrong and Paul Lane break down why semiconductor stocks are under pressure, how Nvidia’s potential financing backstop for OpenAI is raising concerns about circular funding, and why China’s CXMT debut could threaten profit margins across the memory chip industry. They also discuss the sharp drop in Samsung and SK Hynix, the leverage risks building in Korea’s retail trading market, Apple crossing a $5 trillion valuation, and why Kevin Warsh’s upcoming Fed decision could be one of the most uncertain meetings investors have faced in years. Plus, they look at falling oil prices, stubborn gasoline costs, and why the starter home has become increasingly difficult to find in New England.

Kevin Warsh is heading into his second Fed meeting with markets unusually divided over whether the Fed will hold steady or raise rates.

Mike Armstrong and Chuck Zodda break down why this week’s Fed meeting matters, how Warsh could build credibility on inflation, and why markets are less certain about the Fed’s next move than they have been in years. They also discuss the packed earnings calendar for Microsoft, Meta, Apple, and Amazon, what investors want to hear about AI spending, why grocery prices rise quickly but rarely fall, and why lower prices across the economy are usually a warning sign rather than a benefit. Plus, they look at hiring trends, Gen X investors approaching retirement, shrinking child populations in major cities, and the debate over whether companies should still be required to report earnings every quarter.

One of the busiest market weeks of the year is arriving with a Fed meeting, major inflation data, and huge tech earnings all landing as investors question whether the AI trade can keep carrying stocks.

Chuck Zodda and Mike Armstrong break down the packed economic calendar, the latest pause in U.S. and Iran hostilities, and why oil markets remain vulnerable despite crude prices pulling back. They also discuss China’s surging memory chip maker CXMT and the pressure it could put on semiconductor profits, why investors are rotating out of chip stocks and into software, and how Nvidia’s reported financing backstop for OpenAI raises new concerns about circular funding inside the AI boom. Plus, they explain the return of single-stock futures and why more leverage could create new risks for retail traders.

Americans are wealthier than ever on paper, but consumer frustration, high prices, and constant online negativity are still shaping how people feel about the economy.

Chuck Zodda and Mike Armstrong discuss why economic sentiment remains so weak despite rising wealth, why phones and social media may be making Americans feel worse, and how populist policies like price controls, rent control, and tariffs could create more problems than they solve. They also break down why wage gains for lower-income workers are an encouraging sign, what early retirement can really cost when health insurance and missed savings years are included, why Tesla’s volatility is not new, and how JetBlue’s bond troubles reflect pressure across the airline industry.

Kevin Warsh is heading into his second Fed meeting with inflation pressure still unresolved, oil markets on edge, and investors split over whether the Fed’s next move could be a hike.

Chuck Zodda and Mike Armstrong break down why new tariffs may be less important for the broader economy than the expanding conflict in the Middle East, how oil routes through Hormuz and the Red Sea could affect energy prices, and why higher long-term Treasury yields may be the real threat to stocks. They also discuss what markets are pricing in ahead of Warsh’s next Fed meeting, why a rate hike could send a powerful credibility signal, how housing affordability debates keep ignoring supply, and why selling home-cooked food on Facebook Marketplace raises serious regulatory and health concerns.