Shelter inflation is still way above target but they stopped talking about it recently because everyone could see the writing on the wall that rate cuts were needed if there was any hope to avoid a serious recession.

Even the CPI that basically no honest economist believes anymore as you state is 2.6 when their stated target was 2%. This big of a rate cut doesn't jive with what they are saying. The economy sucks worse than anybody in a position of power wants to admit. Even the banks are talking about it.