“The US economy is already in recession,” said Cassie Wood, CEO of Arc Investment Management, who is called the “money tree sister” in Korea. He appeared on CNBC’s popular program ‘Squawk Box’ on the 28th (local time) and argued that “the inventory increase is serious.”
“The United States underestimated the seriousness and enduring power of inflation,” she admitted. “Inflation was much hotter than expected due to the disruption of the supply chain caused by the coronavirus and geopolitical risks such as the Ukraine crisis,” he said.
Inflation in the US was the biggest increase since December 1981, when the consumer price index (CPI) rose 8.6% in May compared to the previous year. As a result, the consumer sentiment index surveyed by the University of Michigan fell to 50 in June, the lowest level since the University of Michigan began the related survey. 0
People who invest heavily in technology stocks, are having the most difficult time this year as a sell-off in technology stocks has emerged. His flagship fund, the Ark Innovation ETF, has fallen 52% this year and 66% from its 52-week high.