Morning Brew Daily

Private Equity Weasels Into Your 401(k)? & Coal Is Making a Comeback

The episode covers two major financial and energy trends: a proposed Labor Department rule that would let private equity and private credit funds flow into 401(k) retirement accounts, and a surprising resurgence of coal use driven by geopolitical shocks from the Iran war. Hosts discuss the risks of exposing retirees to volatile, high-fee alternative assets amid a shaky private credit market, citing warnings from industry veterans and politicians like Elizabeth Warren. They then shift to the global energy crunch, explaining how disrupted natural‑gas supplies are prompting countries in Asia and the U.S. to revive coal plants, with investors seeing a sharp rally in coal stocks. Throughout, the hosts weave in cultural notes about the decline of Allbirds and the rise of concert residencies in Vegas.