[Macquarie: The Fed Needs More Hawkish Rhetoric to Alleviate Inflation Concerns] Jin10 News, May 19 – Thierry Wizman, global foreign exchange and interest rate strategist at Macquarie Group, stated in a report that even if the Federal Reserve signals a shift to a neutral stance in June, it may not be sufficient to stabilize inflation expectations and long-term U.S. Treasury yields. He pointed out that the slightly upward-sloping overnight index swap forward curve currently only reflects one rate hike in 2026. To alleviate inflation concerns, the Fed's rhetoric must be more hawkish than what is already priced into the curve. He noted that between now and June 6, the Fed will have a series of smaller speeches, providing opportunities to decisively shift its rhetoric to a 'hawkish' stance.