Cathie Wood, CEO of Ark Invest The president-elect sees a bright future with Trump’s return to the White House and predicted over the weekend that his policy agenda will likely deliver economic growth not seen in decades.
In a message to investors released Sunday after the election, Wood compared America’s current economic situation to that of the early 1980s, when President Reagan’s tax cuts and interest rate cuts by the Federal Reserve resulted in explosive growth, Due to which ultimately America had to come out of it. deficit and ended with a surplus in the Clinton era.
He said on Twitter after his video message that Trump’s policies are “likely to impact America in a more powerful way than during the Reagan revolution.”
Presenting his case, Wood said Trump vows to cut taxes And again cut regulations, as he did during his first term, and also pointed to his resolve to partner with Tesla CEO Elon Musk. Cut government spending in his second term,
“Now the deficit will come down, we think, because of growth, but we also think that inefficiencies in government are extreme, and we believe Elon Musk … will find a way – in terms of headcount and technology “In – productivity gains through job attrition – actually reducing government as a percentage of GDP, taking a lot of the waste out of government,” Wood said.
Wood revealed in June that she would vote for Trump for president rather than Vice President Kamala Harris, because she believes the former president would be best for the economy.
“Look, I’m going to vote for the person who will do the best thing for our economy,” Wood said in an interview with “Meet Kevin” financial analyst and YouTuber Kevin Paffrath. “When it comes to economics I’m a voter, and on that basis, Trump.”
He further explained that Art Laffer, founder and chairman of Laffer Associates, “describes the first three years of the Trump presidency as the best in American economic history, not the last because of COVID, and I would agree.”
Fox Business’ Greg Weiner contributed to this report.
