Yield Rise Is Knee-Jerk Reaction to Fed: JPM's Michele

The transcript discusses the market's reaction to the reappointment of Powell and the appointment of Brainerd as vice chair, suggesting a moderate Fed approach with potential rate hikes. It examines whether there is mispricing in bond yields and concludes that the market expected these leadership decisions. The discussion highlights the positive impact on risk assets and equities, with a focus on the Fed's patient approach to normalizing policies.

What are the implications of having a dovish package in the Federal Reserve?

In what way does the speaker describe the Federal Reserve's approach to normalizing?