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“You’d think we were in a recession.” Household employment fell roughly 500,000 and nonfarm payrolls came in at half of expectations, yet, ARK Invest CEO and CIO Cathie Wood, says the economy is not breaking. The data is.
In this month's "In The Know”, Cathie breaks down Kevin Warsh’s five task forces to overhaul the Fed, from quieting the daily chatter of Fed governors to cross-checking distorted government statistics against private data. She explains why Trueflation’s real-time reading of 1.75% headline inflation, less than half the official 4.2% CPI, suggests the 10-year Treasury yield could break down, and why the yield curve is behaving the way it did during the Industrial Revolution: sniffing out deflation.
Happy July 4th, and happy 250th birthday, America.
Key Points:
00:00:00 A Jobs Report That Screams Recession
00:02:45 Kevin Warsh Goes First Principles On The Fed
00:06:45 Bessent’s Deficit Target Is Beatable
00:08:30 Debt Is Over 100% Of GDP. Time To Panic?
00:09:55 This Is Not The 1970s
00:12:10 The De-Dollarization Myth
00:14:30 Why Cathie Wood Is A Dollar Bull
00:19:05 The Yield Curve Is Sniffing Out Deflation
00:23:50 Commodities Are Rising For The Right Reason
00:26:45 Inside The Crazy Jobs Number
00:32:30 Why Is The Consumer So Miserable?
00:35:45 Trapped In Their Own Homes
00:42:50 Will The 10-Year Yield Break Down?
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