Key Wealth Matters

Key Wealth Matters

Key Wealth Matters, a podcast series hosted by the experts of the Key Wealth Institute, explores the biggest news of today to determine how these headlines can impact wealth plans, financial strategies, markets, and investments. Join our team of advisors for unbiased, proactive advice about individual and family finances, estate and legacy planning, family dynamics, investing, as well as trends for business owners, nonprofits, and institutions. To submit potential topics or questions to our experts, contact us via email at kpb_wealth_institute@keybank.com. For more information, articles, or other insights related to wealth management, visit key.com/ourinsights. _____________________________________________________ Key Wealth, Key Private Bank, Key Family Wealth, KeyBank Institutional Advisors and Key Private Client are marketing names for KeyBank National Association (KeyBank) and certain affiliates, such as Key Investment Services LLC (KIS) and KeyCorp Insurance Agency USA Inc. (KIA). We gather data and information from specialized sources and financial databases including but not limited to Bloomberg Finance L.P., Bureau of Economic Analysis, Bureau of Labor Statistics, Chicago Board of Exchange (CBOE) Volatility Index (VIX), Dow Jones / Dow Jones Newsplus, FactSet, Federal Reserve and corresponding 12 district banks / Federal Open Market Committee (FOMC), ICE BofA (Bank of America) MOVE Index, Morningstar / Morningstar.com, Standard & Poor’s and Wall Street Journal / WSJ.com. The Key Wealth Institute is comprised of financial professionals representing KeyBank National Association (KeyBank) and certain affiliates, such as Key Investment Services LLC (KIS) and KeyCorp Insurance Agency USA Inc. (KIA). Any opinions, projections, or recommendations contained herein are subject to change without notice, are those of the individual author(s), and may not necessarily represent the views of KeyBank or any of its subsidiaries or affiliates. This material presented is for informational purposes only and is not intended to be an offer, recommendation, or solicitation to purchase or sell any security or product or to employ a specific investment or tax planning strategy. KeyBank, nor its subsidiaries or affiliates, represent, warrant or guarantee that this material is accurate, complete or suitable for any purpose or any investor and it should not be used as a basis for investment or tax planning decisions. It is not to be relied upon or used in substitution for the exercise of independent judgment. It should not be construed as individual tax, legal or financial advice. Investment products, brokerage and investment advisory services are offered through KIS, member FINRA/SIPC and SEC-registered investment advisor. Insurance products are offered through KIA. Insurance products offered through KIA are underwritten by and the obligation of insurance companies that are not affiliated with KeyBank. Non-Deposit products are: NOT FDIC INSURED • NOT BANK GUARANTEED • MAY LOSE VALUE • NOT A DEPOSIT • NOT INSURED BY ANY FEDERAL OR STATE GOVERNMENT AGENCY ©2025 KeyCorp®. All rights reserved.

Episodes

December 5, 2025 24 mins

On this week’s episode, a busy week of mixed economic signals—initial jobless claims hit a very low 191,000 while ADP reported a -32,000 decline in private payrolls—and a split economy where ISM Manufacturing remains in contraction as Services continue to expand. With a delayed September PCE inflation (the Fed’s preferred inflation gauge) arriving today, just before next week’s FOMC meeting, markets are leaning toward a 25...

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With the historic government shutdown behind us, we dig back into key economic data captured over the duration of the shutdown: highlights include a modest improvement in housing activity, favorable labor market indicators despite data being somewhat stale, and mixed signals from the Federal Reserve amid uncertainty over December rate cuts. Equity markets showed heightened volatility, with strong earnings failing to sustai...

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This week, we cover the historic end of U.S. penny production resulting from high manufacturing costs and obsolescence. Market updates focused on lingering uncertainty due to delayed economic data from the recent government shutdown, while Federal Reserve policy remains unclear, with rate cuts seen as a toss up ahead of December’s meeting. With holiday shopping well underway, we discuss consumer trends, noting resilience d...

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This week, we explore the economic impact of the ongoing government shutdown, now in its 38th day, and its effect on labor market data and investor sentiment. Our experts discuss alternative employment indicators, strong Q3 earnings, and the influence of AI on market performance. They also examine the Federal Reserve’s cautious stance on inflation and interest rate cuts amid data uncertainty. Finally, the conversation touc...

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Cynthia Honcharenko, Director of Fixed Income Portfolio Management, joins the podcast to deliver a report on this week’s Federal Open Market Committee (FOMC) meeting; be sure to read her companion piece, “The Gentle Cut: Easing Without Euphoria” on our Weekly Investment Brief feed. Our discussion tracks how the equity and bond markets behaved leading up to, and following, the meeting, and what to expect going forward. We a...

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Amid the ongoing government shutdown, we look at alternate sources of data to draw a picture of what’s happening with inflation, the labor market, and home sales. Our experts provide insights on the market’s reaction to these reports, the anticipated Federal Open Market Committee (FOMC) meeting next week, and the performance of different sectors and asset classes. We also touch on some unusual market dynamics, with low-qua...

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The ongoing government shutdown delayed updates of the Consumer Price Index, Producer Price Index, weekly unemployment claims, and retail sales. Still, there was plenty to cover from this week, including the potential impact on the banking sector amid emerging credit concerns, the strength and state of the consumer, recent earnings reports, a dip in oil prices, and the outlook for the Federal Reserve's monetary policy for ...

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Speakers: 
Brian Pietrangelo, Managing Director of Investment Strategy 

George Mateyo, Chief Investment Officer 
Rajeev Sharma, Head of Fixed Income 
Stephen Hoedt, Head of Equities


01:58 – Our team of experts discusses the impact of the government shutdown on economic data releases, inflation concerns, and labor market trends.

04:35 –  Analysis of bond market movements, expectations for Federal Reserve rate cuts...

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Speakers:

Brian Pietrangelo, Managing Director of Investment Strategy

George Mateyo, Chief Investment Officer

Rajeev Sharma, Head of Fixed Income
 

00:54 – We review the key economic data and market activity from the past week, including the Job Openings and Labor Turnover Survey (JOLTS) report, the September ADP National Employment Report showing a significant decline in private sector employment, and the Institute for Sup...

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September 29, 2025 25 mins

Joel Redmond, Managing Director of Business Advisory Services at Key Private Bank, joins the podcast this week to provide some insights and advice for business owners. He also addresses recent legislation changes that might affect capital gains tax exclusions for certain C corporations. Brian and George break down the news and numbers of the week and discuss the overarching risk appetite of the economy, as evidenced by poc...

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Cynthia Honcharenko, Director of Fixed Income Portfolio Management, joins the podcast to deliver a report on this week’s Federal Open Market Committee (FOMC) meeting; be sure to read her companion piece, “The Fed Cut Rates, But Didn’t Cut Loose” on our Weekly Investment Brief feed. Our discussion tracks how the equity and bond markets behaved leading up to, and following, the meeting, and what we might expect in the future...

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In this week's episode, we break down the factors and trends shaping the economy, including new reports that shed some light on labor and inflation. Expected rate cuts from the Federal Reserve at next week’s Federal Open Market Committee Meeting (FOMC) appear to be the main driving force behind movements in fixed income and equities. Please join us on Thursday, September 18, where we’ll sit down with experts in Artificial ...

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In this week's episode, we discuss the Beige Book Report, and three employment reports including fresh numbers from a weaker-than-expected report from the Bureau of Labor Statistics (BLS). We also touch on the policies and politics bedeviling the Federal Reserve, and the likelihood of rate cuts later this month. As always, we analyze how all of these factors affect the equity and bond markets. Finally, happy National 401(k...

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In this week's episode, we discuss the latest economic and market news, including updates on unemployment claims, GDP growth, and inflation data. Our experts provide their insights and analysis on the implications of these and other economic developments, particularly the potential impact on the Federal Reserve's monetary policy decisions. We also touch on the potential political challenges facing the Fed and questions abo...

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In this week's episode, our experts review the now-stale minutes from July’s Federal Open Market Committee (FOMC) meeting, Fed Chairman Jerome Powell’s new dovishness from the Jackson Hole Economic Symposium, and what to look out for in the coming weeks as we near the end of a notable summer.

 

Speakers:

Brian Pietrangelo, Managing Director of Investment Strategy

George Mateyo, Chief Investment Officer

Rajeev Sharma, Managing D...

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This week was lighter on economic news and reporting—certainly when compared to the previous two action-packed weeks—so we’re shaking things up for this episode. Each expert brings to the table a news item that caught his eye this week, and one topic that might not be receiving enough attention. Topics include skyrocketing investment into artificial intelligence, the fractures at the Federal Reserve (see Additional Resourc...

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In this week's episode, we discuss eight reports and news items that are impacting the economy today, and which will likely have lingering effects into the future; these touch on the labor market in regard to unemployment and payrolls, housing, inflation, Gross Domestic Product (GDP), earnings season, and – the big news of the week – what came out of the Federal Open Market Committee (FOMC) meeting and the lower than expec...

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In this week's episode, we review the unemployment and home sales figures that were released this week, as well as the ongoing trade tensions and tariff negotiations between the United States and its trading partners. We also touch on the Federal Reserve’s policy decisions and President Trump’s visit to tour the renovations to the Federal Reserve headquarters in Washington, D.C. Lastly, we look into the performance of the ...

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July 18, 2025 25 mins

In this week's episode, we cover a wide range of reports that touch on inflation, consumer spending, manufacturing activity, and what might come out of the upcoming Federal Open Market Committee (FOMC) meeting on July 30. We also analyze the moves in both the bond markets and equities caused by the rumors of President Trump’s desire to remove Federal Reserve Chairman Jerome Powell. Lastly, we discuss the potential for anti...

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In this week's episode, our experts discuss the state of the economy, markets, and investment outlook for the second half of 2025. 


Speakers:
Brian Pietrangelo, Managing Director of Investment Strategy

George Mateyo, Chief Investment Officer
Rajeev Sharma, Managing Director of Fixed Income
Stephen Hoedt, Head of Equities

01:36 - Recap of employment data which shows stability with positive revisions and declining ...

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