Facts vs Feelings with Ryan Detrick & Sonu Varghese

This podcast takes a deep dive into the market-moving events to cut through the noise and help you identify what really matters. Facts vs Feelings is hosted by Chief Market Strategist, Ryan Detrick and VP, Global Macro Strategist, Sonu Varghese, and is a product of the Carson Investment Research Team.

The information included herein is for informational purposes and is intended for use by advisors only, and should not be copied, reproduced, or re-distributed without the consent of CWM, LLC. Carson Partners offers investment advisory services through CWM, LLC, an SEC Registered Investment Advisor. Carson Coaching and CWM, LLC are separate but affiliated companies and wholly-owned subsidiaries of Carson Group Holdings, LLC. Carson Coaching does not provide advisory services.

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Facts vs Feelings with Ryan Detrick & Sonu Varghese

Rumble in Washington (Ep. 170)

January 14, 2026 • Carson Investment Research

After a strong start to the year and renewed highs across global markets, Ryan Detrick, Chief Market Strategist, and Sonu Varghese, VP, Global Macro Strategist at Carson Group, step into the growing tension between Washington and the Federal Reserve, and what it could mean for markets, confidence, and policy credibility. They react to Jamie Dimon’s latest comments on economic resilience, unpack the unusual legal pressure facing Fed Chair Jerome Powell, and explain why markets appear far more focused on earnings and growth than political noise.

Key Takeaways:

Markets are prioritizing fundamentals: Earnings growth, productivity gains, and consumer resilience are outweighing the political headlines
Fed independence is being tested: The legal and political pressure on the Fed raises long-term questions, but the markets remain focused on outcomes, not noise
Metals are sending a signal: The strength in gold, silver, and industrial metals reflects both global demand and policy uncertainty
Labor markets are cooling, not breaking: Hiring is slower, but the layoffs remain low and prime-age employment stays historically strong
Breadth continues to improve: The leadership is expanding beyond mega-cap tech, reinforcing the durability of the current bull market

Jump to:

0:00 — Economic Resilience, Consumers, And Bank Signals

6:00 — Powell, Politics, And Central Bank Independence

12:15 — Gold, Metals, And Washington Crosscurrents

19:00 — Credit Cards, Housing Policy, And Affordability Risks

28:20 — Market Breadth, Diversification, And January Signals

31:10 — Labor Market Cooling, Youth Hiring, And Revisions

41:00 — Productivity, Margins, And Revenue Per Worker

Connect with Ryan:

• LinkedIn: https://www.linkedin.com/in/ryandetrick/

• X: https://x.com/RyanDetrick

Connect with Sonu: