Ark Investment Management CEO Cathie Wood said late Monday that Federal Reserve’s continued rate tightening will lead to deflation-induced rapid economic slowdown not only in the U.S. but also internationally.
“The Fed has precipitated and exacerbated the risk of a global deflationary bust,” said Wood in a post on X, formerly called Twitter. The central bank’s “record-breaking” 22-fold increase in the Fed funds rate will hit China first and spread to the rest of the world, she added.
