[Morgan Stanley: U.S. 'Jobless Productivity Boom' Will Spur Further Fed Rate Cuts] Odaily Planet Daily News - Morgan Stanley strategists point out that the U.S. economy may experience a 'jobless productivity boom,' which will curb inflation and open the door for more rate cuts by the Federal Reserve. Data from the U.S. Department of Labor shows that the hourly output of all nonfarm business workers increased by 3.3% year-on-year in the second quarter, a significant improvement from the 1.8% year-on-year decline in the previous quarter. Investors' expectations for the pace of Fed rate cuts next year are more aggressive than official forecasts. According to the CME FedWatch tool, Fed officials expect only one rate cut in 2026, but investors believe there is a 72% probability of a rate decrease by the end of the year. (Jin10)