US economy 'will break even more' in 2025 if rates stay high: strategist

US Federal Reserve Chairman Jerome Powell holds a press conference following the Federal Open Market Committee's two-day meeting on interest rate policy in Washington, USA on March 20, 2024.

Elizabeth Frantz | Reuters

State Street's head of investment strategy in EMEA said on Tuesday that the US economy could be heading for stormy waters in 2025 if the Federal Reserve doesn't act on interest rates soon.

Altaf Kassam told CNBC that classic monetary policy mechanisms are „broken,” meaning any changes made by the central bank will now take longer to trickle down to the real economy — potentially delaying any major shock.

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