Cathie Wood Forecasts Deflation Next Year, Sees Fed Cutting Rates As Prices Fall
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Cathie Wood predicts deflation will take hold in the US next year and force the Fed to cut interest rates significantly.
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Wood says the CPI inflation rate could turn negative in 2023.
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Wood believes a deflationary trend that started in commodities is extending to airlines and autos.
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Wood has long expected a period of falling prices backed by new technologies like AI and robotics.
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Despite gains this year, Wood's ARKK fund still trails the Nasdaq 100, missing big tech stocks like Nvidia and Microsoft.