Snap Chart: Yield Curve Steepening

With a slowing global economy and potentially some political pressure, the Federal Reserve (Fed) cut the fed funds rate three times since July causing the shape of the treasury yield curve to improve after having been inverted in various portions.  Fed Chairman Jay Powell signaled he is willing to help support a recovery.  Don’t expect any rate hikes any time soon but a pause in cuts is also likely unless there is meaningful deterioration in the economy.