Is the US Recession Nearing End? Cathie Wood Says So

• ARK Invest CEO Cathie Wood forecasts 7.3% GDP growth. 
• Cathie Wood says the rolling recession is about to end in the US and AI-driven productivity increases. 

The crypto market started a steady recovery yesterday. Bitcoin is trading above the $80K range while altcoins also started to witness price gains. Even though the overall crypto market started to recover, the anticipated bull run is yet to begin. Despite the pro-crypto environment in the US, the crypto market is showing little to no signs of a bull run. 

ARK Invest CEO Cathie Wood recently made some intriguing forecasts in one of her podcasts. She believes that the US economy is about to witness the end of a rolling recession. Furthermore, emerging technologies such as AI will bring growth and productivity into the economy. In her words, 

“We’re coming to the end of the rolling recession. The bad news is we do have to go through this process. We’re probably on the threshold of some of the most important productivity gains in history.”

Cathie Wood Forecasts Drew in Serious Criticism

After the podcast, Cathie Wood also made a post on X stating that we are in the last leg of a rolling recession. Despite the current weakness in global markets, Wood is optimistic about the upcoming technological boom. 

Emerging technologies such as genomics, autonomous technology, crypto, and artificial intelligence hold the potential to improve productivity of the US economy. However, Wood’s optimistic forecasts attracted criticism across social channels. Some people even called her delusional for making such forecasts in the present market conditions. 

Cathie Wood also highlighted Trump’s favorable stance on crypto and its impact on the industry compared to Biden’s administration. Nonetheless, we are yet to witness a significant catalyst that could trigger a bull run in the crypto industry. 

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