Cathie Wood: Recession Is Already Here; Deflation, Too


Investor Cathie Wood, chief executive of Ark Investment Management, on July 12 reiterated her view that we’re suffering from deflation, not inflation.

And she said we’ve already entered recession.

The Fed is making a mistake in continuing to raise interest rates, she said in an Ark webinar.

Wood cited multiple indicators that she said support her view about deflation.

The consumer price index is a lagging indicator, she said. The CPI soared 8.6% in the 12 months through May, and economists surveyed by Bloomberg anticipate an 8.8% increase in the 12 months through June.





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