# UBS On-Air: Paul Donovan Daily Audio 'Fed fun'

Page: https://stenobird.com/podcast/ubs-on-air-market-moves-2992243/ubs-on-air-paul-donovan-daily-audio-fed-fun
Text version: https://stenobird.com/podcast/ubs-on-air-market-moves-2992243/ubs-on-air-paul-donovan-daily-audio-fed-fun.md
Podcast: [UBS On-Air: Market Moves](https://stenobird.com/podcast/ubs-on-air-market-moves-2992243)
Published: 2026-06-17T07:00:00+00:00
Episode link: https://www.ubs.com/content/dam/podcasts/wma/260617-fed-fun.mp3
Audio file: https://www.ubs.com/content/dam/podcasts/wma/260617-fed-fun.mp3
Processing state: not_requested
JSON: https://stenobird.com/v1/public/podcasts/ubs-on-air-market-moves-2992243/episodes/ubs-on-air-paul-donovan-daily-audio-fed-fun
Duration seconds: 165

## Resource

The Federal Reserve is expected to leave rates unchanged today. The Bank of Japan started with an accommodative stance, and has moved toward neutral. The European Central Bank started with a neutral stance, and unnecessarily moved toward a restrictive policy. The Fed started the year with a mildly restrictive policy, and there is no necessity for change.

## Actions

- request_transcript: `POST https://stenobird.com/v1/public/podcasts/ubs-on-air-market-moves-2992243/episodes/ubs-on-air-paul-donovan-daily-audio-fed-fun/transcription-requests` — Idempotently request low-priority transcript generation for this episode.
- read_markdown: `GET https://stenobird.com/podcast/ubs-on-air-market-moves-2992243/ubs-on-air-paul-donovan-daily-audio-fed-fun.md` — Read the agent-friendly Markdown representation of this episode resource.

A page view does not enqueue transcription. Agents should invoke `request_transcript` explicitly when they need this episode processed.

## Transcript

Full transcripts are not published on public pages unless there is a clear rights basis.