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The chief global strategist at JPMorgan Asset Management lays out 3 reasons why the Fed’s recent rate cuts could hold the economy back for 10 years — even as investors celebrate

“The expectation of low rates forever more is telling people there’s no need to borrow money now,” he said” writes Marley Jay for Next, he added that the promise of low rates has been eroding demand and spending for years, slowing growth.The first is that low rates don’t really help the US economy as a whole.But David Kelly — the chief global strategist at JPMorgan’s $1.9 trillion asset-management business — said those investors should hold off on sending a thank-you card.

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