Core Viewpoint - The Federal Reserve is currently in a passive response mode rather than a proactive one, with no immediate need for action or supporting data to justify any measures [1] Summary by Relevant Categories Federal Reserve Actions - Powell indicated that there is no necessity for the Federal Reserve to take action at this time [1] - The current situation suggests that the Federal Reserve is not in a position to initiate preemptive measures [1] Market Implications - From a market perspective, there is still a considerable distance before the "put option" scenario, where the Federal Reserve would take action to support the market, is triggered [1]