Tony Drake breaks down the tax implications of the ‘One Big Beautiful Bill’ as a slowing economy puts the Fed on a “razor’s edge.” We “haven’t had a fundamental shift in spending in Washington,” he adds, “We really have to figure out what to do about this debt…short of raising taxes.” He advises retiree investors not to chase the rallies too far and “balance between growth and stability.” He likes utilities and healthcare for “peace of mind” in this “dual-personality market.”