Cathie Wood Predicts Deflation to Take Hold in US Next Year
- Reiterates deflationary outlook as CPI comes in soft
- Says Federal Reserve will need to cut rates ‘significantly’
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Cathie Wood said that deflation is already underway in the US across industries and will force the Federal Reserve to kick off a big interest-rate cutting cycle.
“The Federal Reserve has overdone it, we’re going to see a lot more deflation going forward,” the head of ARK Investment Management told Bloomberg TV Tuesday. “If we’re right, and they’ve gone way too far, they’ll have to cut fairly significantly.”