Impact of Inflation Expectations on Yield Curve Steepening

Consider the term structure of interest rates, which describes the relationship between interest rates and the maturity of debt securities. In a generally upward-sloping yield curve, longer-term rates will typically be higher than shorter-term rates, reflecting the increased risks and time value associated with longer maturities. However, shifts in this curve can indicate market expectations regarding future interest rates, inflation, and economic conditions.

Which of the following scenarios would most likely cause a steepening of the yield curve in a standard upward-sloping environment?