Morgan Stanley Just Cut Its U.S. Growth Forecast Because Gas Prices Are “More Than Enough” to Wipe Out Bigger Tax Refunds

AI summary

Morgan Stanley’s U.S. economics team has trimmed its growth forecast for the year, and the reasoning is refreshingly specific: the pump is going to swallow the refund. On the firm’s Thoughts on the Market podcast, the team cut its U.S. growth outlook by roughly 0.3 to 0.4 percentage points, with elevated energy prices doing most ... Morgan Stanley Just Cut Its U.S. Growth Forecast Because Gas Prices Are “More Than Enough” to Wipe Out Bigger Tax Refunds