Apply the Inflate: Middle, Deflate: Top and Bottom Transform text effect (4th column, 7th row in the Warp section). [Mac hint - Deflate Inflate Deflate Transform text effect].

To apply the Inflate: Middle, Deflate: Top and Bottom Transform text effect using the Warp section in Adobe Photoshop, follow these steps:

1. Open Adobe Photoshop and create a new document or open an existing one.
2. Select the Text tool from the toolbar or press the "T" key.
3. Click on the canvas and type the desired text.
4. Select the text layer in the Layers panel.
5. Go to the menu at the top and click on "Edit", then hover over "Transform", and select "Warp" from the drop-down menu.
6. In the Warp Text dialog box, locate the "Style" drop-down menu in the options bar and select the 4th column, 7th row option (should be labeled as Inflate: Middle, Deflate: Top and Bottom).
7. Adjust the text size or positioning as needed by dragging the transform handles or using the options in the options bar.
8. Once you are satisfied with the effect, click the checkmark icon on the options bar or press the Enter/Return key to apply the transformation.
9. You can further modify the layer or apply additional effects if desired.

Note: The instructions provided are for Adobe Photoshop on Mac. The steps may vary slightly for different versions or operating systems.