High Rates Driving Inflation, Rate Cuts Needed to Ease Prices: JPMorgan
- High interest rates now driving inflation, says J.P. Morgan strategist
- Much of current inflation linked to high rate environment
- Need rate cuts to ease shelter costs and bring down inflation
- Markets have mixed inflation outlooks, some see no rate cuts in 2023
- Being "overly" data-dependent could result in no rate cuts, warns Mohamed El-Erian
