RBC's Porcelli Says Fed Has Not Engaged in Policy Action

The transcript discusses reactions to Powell's press conference, focusing on Evans' unexpected balanced stance and its implications for Fed policy. It highlights the high threshold for further rate cuts, especially in an election year. The yield curve's steepness is analyzed, with the market embracing the Fed's pause in rate cuts, indicating a shift in expectations.

What is the significance of the steeper yield curve mentioned by Dallas Fed President Robert Kaplan?

How does the market's view on the Fed's pause in cuts reflect a shift in sentiment?