This week on the Payne Points of Wealth, Bob, Ryan, Chris, and Courtney are joined by Washington Examiner columnist and sharp political commentator Tiana Lowe-Doescher for a deep dive into the complex intersection of politics and financial markets.

We explore the Trump administration’s push to lower interest rates — and why the Federal Reserve no longer dictates long-term yields like mortgage rates. Instead, it’s the bond market calling the shots, driven by the sheer scale of our national debt. With 31% of the $29.7 trillion in marketable debt maturing within the next year, every 1% rise in interest rates could cost taxpayers nearly $100 billion — roughly the annual budget of the entire Department of Homeland Security. So, who really holds the reins on our national debt? Investor confidence has been shaken by the Trump administration’s attempts to remove Fed Chair Jerome Powell. Meanwhile, we are headed to unknown territory as the government attempts to manage the US’s $2 trillion annual deficit.

We also break down how markets are responding to the Trump administration’s aggressive tariff strategy. Despite implementing the steepest tariff regime in nearly a century, President Trump has defied economists’ dire expectations — inflation hasn’t surged, and economic growth remains resilient. Why? In part, thanks to tens of billions in savings from sweeping deregulation.

Tiana helps us unpack the nuanced market reactions: investors are increasingly distinguishing between tariffs used to offset new debt issuance — which markets favor — and those aimed at shrinking trade deficits, which can disrupt the current account surplus and push Treasury yields higher. It’s never easy!

It’s a timely, thought-provoking conversation on monetary policy, fiscal discipline, and the political forces shaping America’s economic future. Don’t miss it.

This week on Payne Points of Wealth, Bob, Ryan, Chris, and Courtney dive into the evolving dynamics of the U.S. labor market. Despite predictions of a slowdown, companies are hesitant to lay off workers—even as hiring remains sluggish. Is this a sign of economic weakness, or are deeper demographic shifts like an aging population and reduced immigration reshaping the workforce?

We also unpack Wall Street’s push to make alternative investments more accessible to everyday investors—a movement often branded as “democratization.” While financial firms tout the benefits of private equity and other alternatives, few are talking about the risks. In fact, as retail investors are being encouraged to buy in, institutional giants are quietly heading for the exits. Yale’s $41.4 billion endowment is unwinding nearly $3 billion in alternative holdings.

Meanwhile, private credit—a market that barely existed a decade ago—is surging toward $2 trillion. Firms like Apollo and Blackstone are now lending directly to businesses, consumers, and real estate investors, giving regular investors unprecedented access. But is this truly a golden opportunity, or a hidden risk to your retirement? We break down the opaque, illiquid nature of these investments and what they could mean for your long-term financial future.

Tune in for our take on what’s really happening in the job market and whether Wall Street’s latest pitch is worth your hard-earned dollars.

In this week’s episode, Bob, Ryan & Chris dive into the Federal Reserve’s latest interest rate cut. Was it a necessary move to support a slowing economy—or is Jerome Powell just spiking the punch bowl? With all major U.S. stock markets sitting at all-time highs, the trio debates whether investors are too focused on the “AI trade,” pouring into names like Nvidia, Tesla, Palantir, and meme stock Opendoor, while overlooking new bull markets hiding in plain sight.

Meanwhile, money market fund assets have ballooned to $7.28 trillion, but yields are falling fast as inflation ticks up. That means real returns on short-term instruments are collapsing—so where will all that cash go next?

As economic growth picks up, the dollar weakens, and short-term rates fall, Bob, Ryan & Chris break down the smartest strategies to grow and protect your wealth. Whether you're planning for retirement or just trying to stay ahead of the curve, this episode is packed with insights to help you navigate the shifting financial landscape.