ReutersThe Fed has started cutting rates, but it's not likely to boost the economy much, Lisa Shalett says.The economy is less rate-sensitive than it was during previous rate cuts, Shalett argues.Investors should keep an eye on corporate earnings for clues of a soft landing.Rate cuts have long been seen as an integral part of the Federal Reserve's monetary policy toolbox to juice up the economy.However, don't expect rate cuts to save the economy this time around, according to Lisa Shalett, chief investment officer at Morgan Stanley Wealth Management.Investors may have reacted positively after the initial 50-basis-point cut, but Shalett believes rate cuts have already been largely priced in from here on out.