Cathie Wood: Predicting U.S. GDP growth to reach 7.3%, technologies such as cryptocurrency will drive global economic transformation
According to online reports, ARK Invest CEO Cathie Wood said that the U.S. economy is approaching the end of a "rolling recession" and is about to usher in unprecedented productivity growth driven by artificial intelligence (AI) and emerging technologies. She predicts U.S. GDP growth of 7.3%, and believes the largest productivity growth in history is coming despite weak short-term economic data. She believes that technologies such as AI, genetic technology, automation and cryptocurrency will drive global economic transformation and form a positive cycle with the Trump administration's tax cuts and deregulatory policies. In addition, she pointed out that since SEC Chairman Gary Gensler stepped down, the U.S. government's attitude towards the crypto industry is changing, and Washington is ushering in a "digital asset revolution." Wood believes that the current market funds are mainly concentrated in "MAG7"(the seven major technology giants), but will shift to a wider range of innovative stocks in the future, and specifically mentioned that ChatGPT still dominates, but Elon Musk's Grok is growing faster, and open source AI models (such as DeepSeek, Meta's Llama, and possible future open source versions of Grok) will become important trends. However, the market reacted negatively to her views, with many investors questioning her investment strategy and believing that she was too optimistic about the Trump administration's economic policies, especially tariff policies and tax cuts that may lead to a widening of fiscal deficits, while the ARK Innovation ETF still lags behind the S & P 500 after a sharp fall in 2022. Still, Wood remains firmly convinced that the U.S. economy will enter one of the strongest bull markets in history and said that if new technologies such as AI drive deflation, the U.S. will experience unprecedented economic growth.
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