Democrats Bring Back Great Depression
This is not good.
Ark Invest Founder and investor Cathie Wood has just issued a critical warning and said that the United States is on the edge of another Great Depression and President Biden’s Federal Reserve will be solely to blame if it does happen.
According to Fortune, Wood explained, “If the Fed does not pivot, the set-up will be more like 1929” which is when the Great Depression started.
“Unfortunately, today has some echoes of the same. The Fed is ignoring deflationary signals,” she added.
Wood also pointed out the fact that the Fed has hiked 16-fold from 25 basis points to 4%.
She said that the Fed is ignoring some very important deflationary signals however along with that the passing of the Chips Act which will likely harm trade more than anyone can understand.
This along with a number of other important issues will become a serious problem if President Biden and the Federal Reserve don’t step up to do something.
A number of economists were hoping that Republicans would begin to get things back in order if they took control of both the House and Senate however it doesn’t looks like that is the case anymore.
