Cathie Wooden: I Erred On Inflation, However Recession is Right here

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Hotshot investor Cathie Wooden, chief govt of Ark Funding Administration, has mentioned repeatedly in current weeks that we’re headed for disinflation soon.

However she acknowledges that she failed to appreciate simply how sturdy our present inflation could be. Client costs soared 8.6% within the 12 months by Might, a 40-year excessive.

“We had been improper on one factor and that was inflation being as sustained because it has been,” Wood told CNBC. “Provide chain, … can’t imagine it’s taking greater than two years. And Russia’s invasion of Ukraine, after all we couldn’t have seen that. Inflation has been a much bigger downside, nevertheless it has set us up for deflation.”



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