What happened Investment-banking company Morgan Stanley (NYSE: MS) saw its stock price jump 6% today in afternoon trading. So what The October Consumer Price Index (CPI) was an extremely welcome development for the entire market, as it showed that the Federal Reserveʻs aggressive interest-rate hikes have finally started to have an impact on inflation. "In the upcoming months, in light of the cumulative tightening we have achieved, I expect we will slow the pace of our rate hikes as we approach a sufficiently restrictive stance," Harker said Thursday.