The U.S. economy could be headed for stormy waters in 2025 if the Federal Reserve does not take action soon on interest rates, State Street’s head of investment strategy in EMEA said Tuesday. Altaf Kassam told CNBC that classic monetary policy mechanisms had “broken,” meaning that any changes made by the Fed will now take longer to trickle down into the real economy — potentially delaying any major shocks. “The traditional transmission policy mechanism has broken, or doesn’t work as well,” Kassam told “Squawk Box Europe.” The research chief attributed that shift to two things. Firstly, U.S. consumers, whose largest ... (full story)