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”Inflation Will Come Down SIGNIFICANTLY” | Cathie Wood
In an interview with CNBC, CEO and CIO of Ark Invest Cathie Wood shared her views on what’s going on with the economy. Cathie has been saying that we are in a recession long before news broke that the GDP fell for the second consecutive quarter. Cathie believes the fed is looking at all the wrong indicators, such as unemployment, which she believes lags behind what’s really going on in the economy. Although it has been announced that the GDP fell for two consecutive quarters, the Fed’s announcement of interest rates seems to have led to a rally in both the stock and crypto markets. At the time of writing, Bitcoin is currently trading at $23,800, which is up 4% in the past 24 hours. Earlier in the day, Bitcoin did break the $24,000 resistance. Ethereum is up 11.1% in the past 7 days, trading at $1,706 with many analysts believing it will rally to $2,000 soon. The market has been difficult to navigate, but Cathie believes we are in an inventory-led recession, which is quite different.
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