Fed is making a ‘mistake,’ Ark Invest’s Cathie Wood says

The U.S. Federal Reserve is ignoring signs of deflation as it continues its aggressive interest rate-hike plan to combat inflation and will soon be forced to make a dovish pivot, star stock picker Cathie Wood of Ark Invest said in a webinar on Tuesday.

Wood, whose ARK Innovation ETF was the top-performing fund of 2020 thanks to bets on companies like Zoom Video Communications Inc which soared during the early stages of the coronavirus pandemic, cited declines in copper, oil and gold prices as signs that fears of sustained inflation are overblown. ARK Innovation is up 11.6% over the last month, compared with a 1.9% increase in the benchmark S&P 500, as rising concerns over a possible U.S. recession have boosted growth stocks. The fund remains down nearly 53% year-to-date, which puts it in last place among the 605 U.S. mid-cap blend funds tracked by Morningstar.

Haha - addict wants more heroin. GTFO. The mistake was sewering interest rates. Raise them and flush the reckless parasites out.

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Silver price falls below $19 again and could continue to struggle as Fed raises ratesSilver price falls below $19 again and could continue to struggle as Fed raises rates kitconews gold silver investing mining finance metals economics Buy the dipp! Still above $30 here.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »