Read previewThe economy is bound to enter a downturn if the Federal Reserve delays cutting interest rates, according to Marija Veitmane, the head of equity research at State Street Global Markets.
The Wall Street vet warned of an impending economic crash if the Fed doesn't ease monetary policy soon.
Higher interest rates are already taking a toll on economic strength, she noted, even if growth numbers looked fine last quarter.
But the economy is already showing signs of strain from the burden of elevated interest rates, Veitmane warned.
Markets are largely expecting the Fed to keep interest rates level at its next policy meeting.
Persons:
—, Marija Veitmane, Veitmane
Organizations:
Service, Federal, Street Global Markets, Business, CNBC, AAA