Inside the ICE House

With markets noisier and more uncertain than ever, Dimensional Fund Advisors founder David Booth goes Inside the ICE House to make the case that staying calm is not just good advice — it's backed by a century of data. He discusses his new book, Stay Calm, and why the same principles that help people navigate life's uncertainties are the ones that lead to long-term investing success. Booth challenges the allure of market timing and prediction, arguing instead for planning, patience, and trusting in human ingenuity as the engine behind decades of 10% annual stock returns. He also reflects on Dimensional's milestone crossing of $1 trillion in assets under management and why personalization may be the next major wave in investing.

Inceptive CEO Jakob Uszkoreit goes Inside the ICE House to challenge the foundational assumptions of modern drug discovery, arguing that AI will enable medicines that work with the body's natural complexity rather than against it. He discusses Inceptive's partnership with Alnylam Pharmaceuticals and why their RNA interference platform and rich data history make them a uniquely powerful AI collaborator. Uszkoreit explains why partnerships are essential for a small company with broadly applicable technology, and why the long-term prize is therapies that are gentler, earlier, and truly personalized.

Formation Bio is rewriting the rules of drug development at a time when AI is accelerating drug discovery far faster than the industry can bring new therapies to patients. CEO Ben Liu goes Inside the ICE House to explain why the real bottleneck in pharma isn't finding promising drug candidates, it's developing them efficiently and at scale. He unpacks Formation Bio's AI-native model, which acquires already-discovered drugs and deploys proprietary tools to optimize trial design, predict clinical outcomes, and identify overlooked disease indications.

Clark Allen, Head of Product at Horizon Investments, joins Bilal Little on ETF Central to discuss the firm's rapid growth to more than $4 billion in ETF assets and its advisor-first approach to product development. Allen shares his journey from CPA and quantitative researcher to leading Horizon's expanding ETF platform, highlighting the firm's use of systematic, options-based strategies to help advisors manage risk and client expectations. He also discusses recent acquisitions in equity and fixed income, the evolving role of financial advisors, and his outlook for continued innovation across the ETF industry.

Third Coast Bancshares Founder and CEO Bart Caraway joins Inside the ICE House to discuss building a Texas-based community bank from a vision into a publicly traded company now listed on the New York Stock Exchange. He reflects on launching the bank in 2008 at the onset of the Great Recession and how a commitment to servant leadership and community impact has driven the bank's growth. He also highlights the bank's dual listing on NYSE Texas, sharing his enthusiasm for the listing and the exchange as a symbol of the state's expanding economic influence and entrepreneurial spirit.

Finance of America SVP of Finance Michael Fant joins Inside the ICE House to discuss how the company has grown into the largest originator and servicer of reverse mortgages in the United States, helping seniors tap into their home equity to fund retirement. He shares how Finance of America has shifted the perception of reverse mortgages from a product of last resort to a sophisticated financial planning tool, expanding its offerings to include jumbo and second-lien products. He explains the company's deep commitment to consumer education and how technology is being carefully integrated to improve efficiency while preserving the human touch points seniors rely on.

Ginkgo Bioworks CEO Jason Kelly joins Inside the ICE House to explain how Ginkgo is building the infrastructure to make biology programmable at scale — automating the lab work that has long bottlenecked scientific progress and offering experimentation as a cloud-based service to pharma, agriculture, and academic researchers. Kelly also details how a landmark collaboration with OpenAI demonstrated that AI can now autonomously design and iterate on biological experiments, pointing toward a future where the $120 billion spent annually on manual research gets dramatically more productive.

The United States has not operated a single tungsten mine in over a decade, leaving the nation dangerously dependent on foreign countries for a metal critical to defense, semiconductors, and manufacturing. CEO Oliver Friesen goes Inside the ICE House to detail how Guardian Metal Resources is racing to bring two Nevada tungsten mines into commercial production before the end of 2028. He discusses China's sweeping export ban, the national security stakes of domestic supply chains, and how partnerships with the Department of War and Montana Mining Association are accelerating progress.

Carlos Diez, CEO and founder of MarketGrader, joins Bilal Little on ETF Central to discuss his firm's fundamentals-driven approach to index investing and how it bridges the gap between active and passive strategies. Diez shares his journey from Colombia to founding MarketGrader in 1999, built around a 24-factor rating system that historically designates only 15% of covered companies as a buy. He highlights the Barron's 400 ETF as a core equity holding designed to reduce concentration risk through equal weighting across high-quality U.S. companies, and closes by framing AI as a broad economic enabler rather than a narrow market trade.

Takeda is entering one of the most pivotal moments in its 245-year history, with a late-stage pipeline poised to transform patient outcomes across three therapeutic areas. Chief Scientific Officer Chris Arendt goes Inside the ICE House to discuss the science behind drug candidates targeting narcolepsy, polycythemia vera, and psoriasis. He explores how AI and computational technologies are reshaping drug discovery and why building the right data foundation is critical to supercharging Takeda's R&D engine.

Longtime New York Stock Exchange member and former Director James Rutledge goes Inside the ICE House to reflect on a remarkable career that began with a help wanted sign on Wall Street in 1968. He shares firsthand stories from the paperwork crisis, the transition from pneumatic tubes and paper tickets to electronic trading, and the NYSE's evolution through decades of technological change.

Rubrik Principal Technologist Cal Al-Dhubaib joins Inside the ICE House to discuss how enterprises can securely adopt AI as autonomous agents gain greater access to data, systems, and code. He explains how Rubrik Agent Cloud helps organizations monitor AI activity, govern agent behavior, and recover from unintended actions. Al-Dhubaib also shares how Rubrik is using AI internally while balancing innovation with security, oversight, and trust.

In July, Inside the ICE House aired six new episodes. Episode 544: New York Giants' Kayvon Thibodeaux on Money, Mentorship, and the 2026 Season Episode 545: Bayern Munich CMO Rouven Kasper on Soccer Fandom, U.S. Growth, and Global Reach NYSE Texas: Buda Juice CEO Horatio Lonsdale-Hands on Ultra Fresh Growth Episode 546: Jeeves CEO Dileep Thazhmon on Scaling a Borderless Banking Platform Episode 547: Offerpad CFO Peter Knag on Transforming How Americans Sell Homes NYSE Texas: Globe Life Co-CEOs on Building a Resilient Insurance Giant

From Lake Las Vegas, Nevada, Nancy Paton, award-winning filmmaker and founder of Desert Rose Films, goes Inside the ICE House to discuss why authentic storytelling is becoming essential for companies looking to connect with audiences. She explains how long-term trust, consistency, and meaningful engagement matter more than short-term marketing wins in today's crowded media environment. Paton also reflects on building Desert Rose Films, advocating for female filmmakers, and using film as a tool for cultural understanding.

Matt Camuso, Head of ETF Solutions at Baron Capital, joins Bilal Little on ETF Central to discuss Baron's entry into the active ETF market and the firm's long-standing active growth investing philosophy. Camuso shares his career journey in ETFs, explains how client demand has shaped Baron's ETF lineup, and highlights key industry trends including active management, tokenization, and ETF innovation. He also discusses Baron's long-term investment approach, opportunities in technology and AI, and the importance of investor education as the ETF market continues to expand.

Phil Rosen joins Inside The ICE House to explain why Alphabet's negative free cash flow quarter reflects aggressive AI investment rather than business weakness. He discusses how chipmakers continue to lead the AI trade while hyperscalers are building the infrastructure for longer-term gains. Rosen also argues that broader earnings strength beyond the Mag 7 is a healthy sign for the bull market. Looking ahead, he highlights financials as a sector poised to benefit from strong earnings, elevated rates, and increased deal activity.

Globe Life Co-CEOs Frank Svoboda and Matthew Darden join Inside the ICE House to discuss the company's focus on providing affordable life and supplemental health insurance to working-class families across America. They explain how Globe Life's disciplined business model, exclusive agent network, and customer-first approach have driven consistent growth and resilience through changing economic cycles. The conversation also explores the company's Texas roots, investments in AI and technology, and opportunities to expand in a large underserved market.

Offerpad CFO Peter Knag joins Inside the ICE House to discuss the company's mission to modernize the home-selling process through a marketplace-driven model designed to make real estate transactions faster, simpler, and more predictable. He explains how Offerpad's data-centric approach, AI-powered tools, and expanding product suite are helping transform the traditional home sale experience while improving operational efficiency.

Jeeves Founder and CEO Dileep Thazhmon joins Inside the ICE House to discuss how a firsthand experience managing international operations inspired him to build a platform that simplifies global corporate banking. He explains how Jeeves helps enterprises manage payments, cards, and financial workflows across multiple countries through a unified infrastructure tailored to global businesses. Thazhmon shares how stablecoins, AI, and modular financial systems are accelerating the company's expansion.

Eric Criscuolo, Market Strategist at the NYSE, reviews a market increasingly defined by sharp sector rotations as AI-related semiconductor and memory stocks pulled back after massive gains earlier this year. Weakness in semis contrasted with renewed strength in hyperscalers, improving performance from software, and catch-up rallies across Healthcare and Financials. Meanwhile, escalating tensions involving Iran pushed oil prices higher and helped keep longer-term Treasury yields elevated despite cooler inflation data.

Buda Juice Co-Founder and CEO Horatio Lonsdale-Hands joins Inside the ICE House to discuss the company's growth from a Texas startup to a publicly listed business focused on fresh, clean beverages. He shares how Buda Juice evolved from operating retail stores to building an “ultra fresh” category through partnerships with major retailers. He explains the company's proprietary cold-chain process, commitment to affordability, and expansion plans designed to bring fresh products to more consumers nationwide. He also reflects on Texas' entrepreneurial culture, highlighting its pro-business environment, investor support, and tradition of helping founders turn bold ideas into successful companies.

Bayern Munich CMO Rouven Kasper goes Inside the ICE House to discuss the club's evolution from a German powerhouse into one of the world's most recognizable sports brands. He explains how Bayern balances its traditional “Mia San Mia” identity with a localized approach to engaging fans across the U.S., Asia and other growth markets. Kasper also shares insights on player branding, long-term sponsorship strategy and the role authenticity plays in building lasting global relationships. He discusses how digital platforms, content creation and AI are transforming the fan experience and helping clubs connect with new generations of supporters.

Michael Reinking, Senior Market Strategist at the NYSE, reviews the strong Q2 rally that carried major indices to record highs, fueled by earnings and investor repositioning following Middle East developments. Leadership remained concentrated in AI-related semiconductor and memory stocks, though concerns around overcapacity, model efficiency, and the sustainability of spending sparked sharp rotations beneath the surface. A weaker-than-expected June jobs report raised questions about labor market momentum. Attention now shifts to inflation data, Fed testimony, the start of earnings season, and whether renewed AI investment announcements can sustain technology leadership.

From Lake Las Vegas, Nevada, Dr. Vin Menon, CEO of MindWave Innovations, goes Inside the ICE House to discuss the growing adoption of digital asset treasury strategies by public companies. He explains how MindWave helps institutions establish Bitcoin-focused treasuries, generate yield, and navigate security and governance requirements. Menon also highlights the company's merger with Apimeds Pharmaceuticals as a model for integrating digital assets into corporate balance sheets. He outlines how blockchain infrastructure and AI may converge to improve security, privacy, and operational efficiency across industries.

New York Giants linebacker Kayvon Thibodeaux goes Inside the ICE House to discuss his NIL tour and efforts to help student-athletes navigate money, opportunities and life beyond sports. He shares lessons from his own experience, emphasizing financial literacy, leadership and the importance of long-term thinking. Thibodeaux also reflects on his role with the J.P. Morgan Chase Athlete Council and the responsibility athletes have to create lasting impact. He discusses the Giants' new culture, process-driven approach and the talent across the team's defense. Thibodeaux highlights discipline, consistency and growth as the foundation for success on and off the field.

In June, Inside the ICE House aired nine new episodes. Episode 535: Markel Insurance CEO Simon Wilson on AI, Specialty Risk, and Scaling Expertise Episode 536: Otter AI CEO Sam Liang on Connecting Conversations into Enterprise Knowledge Episode 537: Fundrise CEO Ben Miller on Democratizing Private Markets, AI, and VC Investing Episode 538: Link Logistics CEO Luke Petherbridge on Supply Chains, Speed, and Last-Mile Demand Episode 539: Flutter CEO Peter Jackson on World Cup Betting, Global Impact, and U.S. Growth Episode 540: Infleqtion CEO Matt Kinsella on Quantum Sensing, Computing, and Race to Scale Inside the ICE House x Las Vegas: M2i Global President & CEO Alberto Rosende Episode 541: Via CEO Daniel Ramot on Reimagining Public Transit Beyond Fixed Routes Episode 542: Axiom Space CEO Jonathan Cirtain in Building the Future of Low Earth Orbit Episode 543: America250 Chair Rosie Rios on Unity, Storytelling, and America's 250 Years

Reggie Brown, principal at GTS Securities and a pioneer of the ETF industry, joins Bilal Little on ETF Central to discuss the evolution of ETFs from their early beginnings to today's rapidly expanding global marketplace. Brown reflects on his role as one of the first ETF market makers, explains how GTS helps launch and support ETF products, and outlines the key considerations issuers face when bringing new funds to market. He also shares his views on ETF innovation, investor education, and the growing role ETFs play in expanding access to investing and wealth creation.

Phil Rosen goes Inside The ICE House to explain how Micron's blockbuster earnings are reinforcing the strength of the AI-driven memory trade and broader tech rally. He breaks down why investors remain bullish even as rising chip costs begin to pressure consumer-facing companies and create uneven outcomes across the market. Rosen also frames the recent tech sell-off as a healthy rotation into defensive sectors rather than a broader market breakdown. He discusses Fed Chair Kevin Warsh's uncertain policy stance, with markets still searching for clarity on rates.

America250 Chair Rosie Rios joins Inside the ICE House to discuss plans for the nation's 250th anniversary and the effort to engage all Americans in the celebration. She outlines how the initiative blends storytelling, innovation, and community-driven programming to inspire the next generation. Rios highlights major efforts like America's Field Trip, America Innovates, and America's Startup, all designed to connect history with future opportunity. She also emphasizes the importance of unity, bipartisan collaboration, and shared national experiences across states and communities.

Eric Criscuolo, NYSE Market Strategist, recaps a volatile week as the S&P 500 declined amid weakness across mega-cap and AI-linked names. A growing divide within the AI trade emerged, with hyperscalers and software under pressure while memory and chip suppliers saw sharp swings. Despite index weakness, market internals held firm, with eight sectors higher and small caps outperforming. Rotation into Healthcare and Financials accelerated alongside falling oil prices, easing yields, and shifting Fed expectations. Focus now turns to quarter-end flows, key data including payrolls, and evolving AI spending trends.

Axiom Space CEO Jonathan Cirtain goes Inside the ICE House to discuss how the company is building infrastructure for sustained human activity in low Earth orbit. He explains Axiom's integrated approach across astronaut missions, payloads, spacesuits and its planned commercial space station. Cirtain highlights the role of partnerships and innovation in enabling new research, manufacturing and exploration opportunities while advancing benefits for life on Earth.

Via CEO Daniel Ramot goes Inside the ICE House to discuss how the company is modernizing public transit with dynamic routing and data-driven technology. He explains how Via's platform improves efficiency by matching real-time demand with flexible transit options across cities. Ramot highlights the push to integrate all modes of transportation into a single system while expanding into AI-driven solutions. He also outlines a long-term vision of reducing car dependence through seamless, accessible mobility networks.

Michael Reinking, NYSE Senior Market Strategist, recaps a pivotal week marked by a major Fed leadership transition and evolving policy tone. The FOMC held rates steady, but Chair Kevin Warsh signaled a more hawkish shift, removing forward guidance and emphasizing a renewed focus on price stability. Markets reacted with a flatter yield curve and increased volatility, while futures began pricing in potential rate hikes later this year. Meanwhile, an Iran agreement and declining oil prices helped support equities, with tech and AI stocks rebounding strongly into week's end. Attention now turns to incoming economic data, liquidity events, and how investors adapt to a more uncertain and less accommodative Fed backdrop.

From Lake Las Vegas, Nevada, Alberto Rosende, CEO of M2i Global, goes Inside the ICE House to explain why critical minerals underpin everything from consumer technology to national defense systems. He highlights the growing need for a resilient, transparent supply chain as global demand rises and geopolitical risks threaten access. Rosende outlines how disruptions—from chip shortages to adversarial control—can ripple across economies and security. He also details M2i's work in traceability technology to ensure responsible sourcing and strengthen supply chain visibility.

Infleqtion CEO Matt Kinsella goes Inside the ICE House to discuss the company's dual focus on quantum sensing and quantum computing and how that is driving early revenue growth. He explains how Infleqtion's core technology enables a range of products, from sensors already deployed today to future quantum computers with massive potential. Kinsella highlights the importance of balancing near-term commercialization with long-term R&D to accelerate real-world quantum applications. He also explores how advances in quantum could reshape industries, from communications to defense to financial markets.

Flutter CEO Peter Jackson goes Inside the ICE House to discuss the massive global opportunity around the World Cup and its impact on sports betting. He highlights the scale of the tournament, with billions of viewers and expectations for record handle driven by a fully regulated U.S. market. Jackson explains how Flutter is leveraging its global brands, technology infrastructure, and innovative features to enhance fan engagement. He also outlines how the company is preparing for unprecedented betting volume while maintaining a strong focus on customer protection and integrity.

Eric Criscuolo, NYSE Market Strategist, breaks down a choppy week as the S&P 500 slips modestly while underlying market breadth remains firm. Ongoing Iran headlines continued to drive intraday volatility, though reactions appeared more muted as investors priced in a path toward de-escalation. Tech came under pressure, with notable weakness across semis, software, and mega-caps fueling a broader rotation into Financials, Healthcare, and small caps. Economic data, including a closely watched CPI report, kept yields elevated and added to the shifting sector dynamics. Focus now shifts to the Fed's upcoming meeting, key economic releases, and continued positioning ahead of major IPO activity.

Adam Schenck, Principal and Managing Director at Milliman, joins Bilal Little on ETF Central to discuss how the firm is applying its actuarial expertise to tackle rising healthcare costs through new ETF offerings. Schenck explains how Milliman's Healthcare Inflation Guard and Healthcare Inflation Plus ETFs are designed to track or exceed healthcare inflation using data-driven, multi-asset strategies. He highlights how the firm's deep experience in health analytics and risk management informs portfolio construction and ongoing adjustments.

Link Logistics CEO Luke Petherbridge goes Inside the ICE House to discuss the resilience and evolution of industrial real estate in a rapidly changing economy. He highlights the rise of last-mile logistics and e-commerce demand as key drivers shaping the sector's growth. Petherbridge explains how Link leverages scale, data, and customer service to support tenants ranging from global enterprises to small businesses. He also outlines how AI and technology are enhancing operations, insights, and tenant experiences across the portfolio.

Michael Reinking, NYSE Senior Market Strategist, recaps a dynamic week as tech strength and AI momentum continued to lead markets higher. Iran headlines remained volatile, with shifting ceasefire expectations driving swings in oil and Treasury yields. Economic data broadly surprised to the upside, though mixed labor signals kept attention on the upcoming jobs report. Crypto faced renewed pressure, with steep declines and ETF outflows contrasting sharply with strong equity performance. Focus now shifts to labor data, inflation, and evolving geopolitical risks as investors assess sustainability of the rally.

In May Inside the ICE House aired nine new episodes. Inside the ICE House x Las Vegas: Former Acting U.S. Secretary of Veterans Affairs Peter O'Rourke Inside the ICE House x Las Vegas: SHRM Chief Brand and Marketing Officer Tina Beaty Inside the ICE House x Las Vegas: Former NFL Executive & Founder of the 33rd Team Mike Tannenbaum Inside the ICE House x Las Vegas: C-Suite Network Co-Founder & Chairman Jeffrey Hayzlett Episode 530: Viking CEO Tor Hagen on Brand Clarity, Destination Travel and Defining Luxury Episode 531: AllianceBernstein's Noel Archard on ETF Growth, Marketing and Client Solutions Episode 532: TGR Haas F1 Team Principal ayao Komatsu on Toyota Partnership and F1 Growth Episode 533: Charles Schwab CEO Rick Wurster on The Power of Investing and Expanding Access Episode 534: Apex CEO Ian Cinnamon on the Space Race, Satellite Buses, and Orbital Platforms

Fundrise CEO Ben Miller goes Inside the ICE House to discuss democratizing access to private markets and venture capital. He explains how staying private longer has concentrated wealth and why opening these markets to everyday investors is critical. Miller outlines Fundrise's push into venture through its Innovation Fund and its index-like approach to VC investing. He also explores how AI is reshaping investor education, decision-making, and the broader financial system.

Otter AI CEO Sam Liang goes Inside the ICE House to discuss the company's evolution from an AI note taker into a conversational knowledge engine. He explains how capturing and connecting millions of meetings creates a system of record for conversational data across organizations. Liang outlines the shift from passive transcription to enabling real-time knowledge sharing and AI-driven workflows. He also highlights the power of longitudinal data to improve productivity and provide context for both humans and AI agents. Liang emphasizes enterprise adoption, trust and security, and Otter's vision to scale globally as AI reshapes how work gets done.

Markel Insurance CEO Simon Wilson goes Inside the ICE House to discuss the company's century-long evolution from insuring jitney buses to becoming a global specialty insurer. He explains Markel's model and its long-term approach to underwriting, investing, and compounding value. Wilson outlines his vision to refocus the business on customer obsession, deep expertise, operational speed, and trust. He also shares how AI is transforming underwriting, operations, and the broader specialty insurance landscape.

Eric Criscuolo, NYSE Market Strategist, recaps a strong week as the S&P 500 extends its winning streak and climbs toward fresh record highs. Markets responded to a steady stream of conflicting Iran ceasefire headlines, ultimately pricing in progress toward a near-term resolution. Tech led the way, with semiconductors and AI-linked names driving outsized gains alongside strength in higher-risk sectors. Falling oil prices and lower yields supported equity performance, while Energy and Financials lagged amid shifting macro dynamics. Attention now turns to labor market data, upcoming earnings, and month-end flows as investors assess the durability of the rally.

The line between public and private markets has never been blurrier — and Scott Voss, Managing Director at HarbourVest Partners, has a view on both sides. In this episode of Inside the ICE House, Voss joins NYSE Vice Chair Michael Harris to map the forces reshaping capital markets in 2026: record buyouts, the rise of the secondary market as a mainstream liquidity path, and a handful of AI companies that could collectively raise as much equity as the entire global IPO market did last year. They cover what AI disruption really means for software valuations and private credit, why infrastructure and defense have become the new growth trade, and how the push for national self-sufficiency is redrawing the global investment playbook. Voss also previews HarbourVest's latest research on the redefinition of sovereignty — from geographic borders to data, compute, and the "pseudo sovereigns" who control them. The conversation closes with a warning: in a world of dispersion and consensus risk traps, the fundamentals have never mattered more. HarbourVest Partners, LLC (“HarbourVest”) is a registered investment adviser under the Investment Advisers Act of 1940. This material is solely for informational purposes; the information should not be viewed as a current or past recommendation or an offer to sell or the solicitation to buy securities or adopt any investment strategy. In addition, the information contained in this document (i) may not be relied upon by any current or prospective investor and (ii) has not been prepared for marketing purposes. In all cases, interested parties should conduct their own investigation and analysis of any information set forth herein and consult with their own advisors. HarbourVest has not acted in any investment advisory, brokerage or similar capacity by virtue of supplying this information. The opinions expressed herein represent the current, good faith views of the author(s) at the time of publication, are not definitive investment advice, and should not be relied upon as such. This material has been developed internally and/or obtained from sources believed to be reliable; however, HarbourVest does not guarantee the accuracy, adequacy or completeness of such information. The information is subject to change without notice and HarbourVest has no obligation to update you. There is no assurance that any events or projections will occur, and outcomes may be significantly different than the opinions shown here. This information, including any projections concerning financial market performance, is based on current market conditions, which will fluctuate and may be superseded by subsequent market events or for other reasons. The information contained herein must be kept strictly confidential and may not be reproduced or redistributed in any format without the express written approval of HarbourVest.

Brian Moran, Founder and CEO of FLX Networks, joins Bilal Little on ETF Central to discuss how his platform is modernizing the connection between asset managers and wealth managers through digitization and workflow automation. Moran explains how FLX has evolved into a two-sided network that helps both sides operate more efficiently in an increasingly complex, fiduciary-driven environment. He highlights how technology, partnerships, and AI are reshaping distribution, client engagement, and growth strategies across the industry.

Apex CEO Ian Cinnamon goes Inside the ICE House to discuss how he identified a critical bottleneck in satellite production and built Apex to solve it. He explains the company's focus on productizing satellite buses to enable faster, scalable access to space. Cinnamon outlines Apex's strategy of partnering with legacy defense and aerospace players rather than competing with them. He also highlights Project Shadow and the role Apex aims to play in advancing space-based defense and national security.

Phil Rosen goes Inside The ICE House to explain how the Kevin Warsh era as Fed Chair is beginning to take shape and what it signals for monetary policy and market expectations. He breaks down how investors are parsing early cues on rates, inflation, and credibility as a new leadership tone emerges at the central bank. Rosen also explores the market's evolving response to the AI trade, including where enthusiasm remains strong and where skepticism is creeping in.

Michael Reinking, NYSE Senior Market Strategist, recaps a volatile week as rising yields and shifting Iran headlines pressured markets. Despite late-week weakness, the S&P 500 remains near highs, with its winning streak still in question. Mega-cap tech leadership showed cracks, even as strong earnings—particularly from Nvidia—highlight continued AI-driven growth. Retail results were solid overall, though companies flagged pressure on lower-income consumers from inflation and higher gas prices. Focus now shifts to geopolitical developments, yields, and upcoming inflation data as markets head into the holiday weekend.

Brooke McManus, BNY's archivist, and Jordan Romanoff, senior managing counsel, go Inside the ICE House to explore how the firm's Revolutionary-era founding still shapes its role in global finance today. They explain how BNY helped stabilize early American markets and build trust during times of crisis. The conversation connects those origins to BNY's modern role powering global markets through custody, payments, and infrastructure. They also highlight how AI, blockchain, and digital assets are extending that legacy through greater efficiency, transparency, and connectivity.