Cathie Wood Calls Fed's 2022 Rate Hikes A 'Massive Mistake,' Says Kevin Warsh Will Fix It

Ark Invest CEO Cathie Wood criticized the Federal Reserve's 2022 interest rate hikes as a 'massive mistake' that worsened supply shocks, arguing the central bank should have used a supply-side framework instead. Wood expressed confidence that new Fed Chairman Kevin Warsh will correct these errors with his supply-side policy approach. She characterized May's employment report showing 172,000 nonfarm payrolls as a 'barnburner,' indicating the economy is moving into boom territory driven by productivity gains and AI, rather than inflation.