Cathie Wood: "The Recession Is ALREADY HERE" | Summary and Q&A

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August 15, 2022
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Minority Mindset
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Cathie Wood: "The Recession Is ALREADY HERE"

TL;DR

Kathy Wood predicts a mild recession in the United States that will be completed by the end of 2023.

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Questions & Answers

Q: Who is Kathy Wood and what is her stance on the current economic situation?

Kathy Wood is a celebrity investor known for her investments in technology innovation. She believes that the United States is currently in a mild recession, but it will be completed by the end of 2023.

Q: How does Wood describe the current recession compared to the 2008-2009 recession?

Wood refers to the current recession as a "garden variety" recession, which is characterized by supply chain issues and inventory crises. She believes it is different from the systemic recession and financial crisis of 2008-2009.

Q: What is Wood's perspective on inflation?

Wood is not concerned about inflation. She believes that technology and innovation companies can reduce the cost of products, leading to deflation. She sees inflation as an opportunity for technology to bring prices down.

Q: What factors will determine if the United States is officially in a recession?

Traditionally, a recession is determined by two consecutive quarters of GDP decline. However, there is now a focus on broader-based declines. The official start date of a recession is backdated to when the economic decline began.

Summary & Key Takeaways

  • Kathy Wood, a celebrity investor known for her involvement with technology innovation, believes that the United States is currently in a recession.

  • Unlike the 2008-2009 recession, Wood describes the current situation as a "garden variety" recession, characterized by supply chain issues and inventory crises.

  • She predicts that it will take another year to 18 months for the economy to recover fully.

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