ARK Invest CEO Cathie Wood believes the White House is underestimating the recession risk facing the US economy stemming from US President Donald Trump’s tariff policies — an oversight that will eventually force the president and Federal Reserve to enact pro-growth policies.
Speaking virtually at the Digital Asset Summit in New York on March 18, Wood said US Treasury Secretary Scott Bessent isn’t worried about a recession.
However, Wood said, “We are worried about a recession,” adding, “We think the velocity of money is slowing down dramatically.”
Cathie Wood speaks virtually at the Digital Asset Summit. Source: Cointelegraph
A slowdown in the velocity of money means capital is changing hands less frequently, which is typically associated with a recession, as consumers and businesses spend and invest less money.
“I think what’s happening, though, is that if we do have a recession, declining GDP, that this is going to give the president and the Fed many