Cathie Wood predicts deflation in US next year

“The Fed has overdone it, we’re going to see a lot more deflation going forward,” Wood says. — Bloomberg

NEW YORK: Cathie Wood says that deflation is already underway in the United States across industries and will force the Federal Reserve (Fed) to kick off a big interest-rate cutting cycle.

“The Fed has overdone it, we’re going to see a lot more deflation going forward,” the head of ARK Investment Management told Bloomberg TV. “If we’re right, and they’ve gone way too far, they’ll have to cut fairly significantly.”