Morgan Stanley CEO Ted Pick expressed optimism about the U.S. economy and stock market for 2025 during an interview at the Morgan Stanley summit in Singapore. Pick highlighted robust corporate balance sheets, strong consumer spending, and growth-focused signals from the incoming administration as drivers of economic performance. Pick commended the Federal Reserve's cautious monetary policy approach, stating the central bank is unlikely to reverse course on rate cuts. Pick identified geopolitics and policy missteps as primary risks. He warned that President-elect Donald Trump’s proposed import tariffs could stifle growth by exacerbating inflation.