According to ChainCatcher, Ark Invest CEO Cathie Wood stated that the United States has fallen into a "rolling recession" (recession rotating across different industries).
In an interview with Bloomberg, she said: "We believe we have entered a rolling recession, and we will actually see some quarters of negative growth, which is due to the collapse of money velocity." She predicted that the collapse of money velocity would trigger 1-2 quarters of negative growth in the US economy, which would prepare for tax cuts under the Trump administration and interest rate cuts by the Federal Reserve.
Despite her pessimistic view of the US economic short-term prospects, Wood revealed that Ark Invest has recently gone against the trend to buy the dips in Tesla, Coinbase, and Robinhood, and other crypto-related assets, firmly believing that "technological disruption will bring about benign deflation".
It is worth mentioning that in early March, Wood had stated at the Bloomberg Investment Conference in New York that the US economy was at the end of a "three-year rolling recession", after which US stocks would take off. However, she now seems to have changed this view.
