Core Viewpoint - The Federal Reserve is expected to maintain the current benchmark interest rate during Chairman Powell's remaining term, which ends on May 15, 2026 [1] Group 1 - Market expectations suggest that the next Federal Reserve Chairman will adopt a more dovish stance, potentially leading to a more accommodative policy path than current official forecasts [1] - This expectation is contributing to a steepening of the U.S. Treasury yield curve [1] - The global interest rate environment is likely to support higher long-term interest rates [1]