One chart shows why a September rate hike is a 'hard sell'

The Federal Reserve's latest interest-rate increase has come despite evidence that inflation is actually moving further below the central bank's 2% target rather than toward it.
One chart from Morgan Stanley offers some insight into why market participants are attaching such a low probability of another rate increase in September and even doubting another move in December. Chances are, says Ellen Zentner, an economist at Morgan Stanley, in a research note to clients, the inflation rate will