Cathie Wood: Trump's tariffs could plunge the U.S. into recession

ChainCatcher news, according to Jin Shi reports, Ark Investment Management founder and CEO Cathie Wood warned on Friday that Trump's new tariffs could push the U.S. economy into recession. Wood said regarding the uncertainty brought by these measures, "The market is in quite a bit of turmoil."

She warned that these policies could lead the U.S. into recession. She said, "We know how he calculates reciprocal tariffs, but it doesn't seem to make much sense." Wood stated, "We are at the eye of the storm. However, if Trump cares about his political legacy— and we know he does— or about the midterm election campaign season starting this fall, then the final stretch of this rolling recession will give him and the Federal Reserve more leeway to adjust policies."