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Cathie Wood Says the Fed is Likely Making a Policy Error in Open Letter

October 10, 2022 11:39 AM EDT

In an open letter to the Federal Reserve on Monday, ARK's Cathie Wood said the central bank is making a policy error that will cause deflation.

"In the face of conflicting data, the unanimity of the Fed's last decision to increase the Fed funds rate by 75 basis points was surprising," wrote Wood.

She stated that the Fed is focused on employment and headline inflation, which Wood explained are both... More