Why the Fed needs to cut interest rates to lower inflation, according to a JPMorgan strategist

• If the Federal Reserve wants to lower inflation, they need to cut interest rates, according to JPMorgan.
• JPMorgan strategist Jack Manley said lower interest rates would help lower shelter costs.
• "You're not going to see meaningful downward pressure on shelter costs until the Fed lowers interest rates," Manley said. 

If the Federal Reserve wants to lower inflation back to its long-term target of 2%, it needs to start cutting interest rates, according to JPMorgan strategist Jack Manley.