Cathie Wood: I Erred On Inflation, But Recession is Here

Hotshot investor Cathie Wood, chief executive of Ark Investment Management, has said repeatedly in recent weeks that we’re headed for disinflation soon.

But she acknowledges that she failed to realize just how strong our current inflation would be. Consumer prices soared 8.6% in the 12 months through May, a 40-year high.

“We were wrong on one thing and that was inflation being as sustained as it has been,” Wood told CNBC. “Supply chain, … can’t believe it’s taking more than two years. And Russia’s invasion of Ukraine, of course we couldn’t have seen that. Inflation has been a bigger problem, but it has set us up for deflation.”

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