Cathie Wood: Forecasting U.S. GDP growth rate to reach 7.3%, cryptocurrency and other technologies will drive global economic change
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According to Golden Finance, ARK Invest CEO Cathie Wood said 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 that the U.S. GDP will grow at 7.3%, and believes that 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 cryptocurrencies will drive global economic change and form a positive cycle with the Trump administration's tax cuts and regulatory relaxation. In addition, she pointed out that since SEC Chairman Gary Gensler stepped down, the US 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 turn to a wider range of innovative stocks in the future, and specifically mentioned that ChatGPT still dominates, but Elon Musk's Grok grows faster, and open source AI models (such as DeepSeek, Meta's Llama, and possible Grok open source versions in the future) will become important trends. However, the market reacted negatively to her view, with many investors questioning her investment strategy and believing she was too optimistic about the Trump administration’s economic policy, especially tariff policies and tax cuts that could lead to a widening fiscal deficit, while the ARK Innovation ETF still lags behind the S&P 500 since its 2022 sharp drop. Despite this, Wood is firmly convinced that the U.S. economy will enter one of the strongest bull markets in history and said that the U.S. will usher in unprecedented economic growth if new technologies such as AI drive deflation.