Bond markets are signaling a resilient economy and higher expected inflation.Most of the recent move higher in bond yields reflects a higher expected neutral rate.Wanted to remove the Fed’s “easing bias.”Reducing the banking system’s demand for reserves would provide a smoother path toward a smaller Fed balance sheet than shrinking reserve supply.Overall tone: More hawkish. The comments emphasized resilient growth, rising inflation expectations, and a preference to remove easing bias, all of which lean toward keeping policy restrictive for longer. This article was written by Greg Michalowski at investinglive.com.