Morgan Stanley: Inflation has not heated up but remains above target, making it difficult to support interest rate cuts

According to Jin Shi reports, Morgan Stanley Wealth Management Chief Economic Strategist Ellen Zentner commented on U.S. inflation, stating that inflation has not re-accelerated but remains above target levels. The cost transmission from tariffs is limited, and housing affordability has not improved. Today's inflation report is insufficient to support the Federal Reserve's decision to cut interest rates later this month.