Cathy Wood: Deflation risk is higher than inflation, bitcoin versus stabilization currency or benefit from smart business development

ARK Invest stated that, despite the apparent weakness of the latest United States employment data, the overall economic situation was not as pessimistic as it appeared. According to Cathy Wood, the federal deficit in the United States is currently 5.6 per cent of gross domestic product (GDP) and, if productivity and technology use continues to rise, it will end the year or close to 5 per cent. In terms of inflation, ARK Invest considers that recent data continue to weaken, with the consumer price index (CPI) ring ratio of -0.4 per cent in June, the producer price index (PPI) ring of -0.3 per cent, and the core personal consumption expenditure (PCE) depression index of 0.1 per cent. In addition, ARK Invest predicts that the United States dollar index may rise to 102.6, and points out that there is a discrepancy in the market narrative about overseas government sales of United States debt. With regard to energy, ARK Invest argues that oil markets are becoming oversupply and that there is a further downward trend in oil prices, which will be a deflationary driver for most economies around the world. Cathy Wood also stated that AI-related capital spending has passed the last 30 years and is not the peak of the bubble, but the early stages of the technological revolution. In terms of encrypted assets, she believed that Bitcoin's performance relative to gold was stable, and that, with the commercial development of intelligent bodies, Bitcoin and the Stabilisation Currency could be the main beneficiaries。