Ark Investments CEO Cathie Wood sees a bright future ahead for President-elect Trump back in the White House, and his policy agenda is unlike anything seen in decades. It was predicted over the weekend that it was likely to bring about economic growth.
In a post-election message to investors released on Sunday, Mr. Wood described the current state of the American economy as a combination of President Reagan's tax cuts and Federal Reserve interest rate cuts that led to explosive growth. He likened it to the early 1980s, when the United States emerged from an economic crisis. It was in the red during the Clinton era, but ended up in the black.
She added to X after her video message that President Trump's policies are “likely to provoke the United States more powerfully than during the Reagan revolution.”
In his claims, Wood touted Trump's promise to cut taxes and regulations again, as he did in his first term, and that he also promised that Tesla's CEO ( He also mentioned his commitment to working with CEO Elon Musk.
“We think the deficit will go down because of growth, but we also think government inefficiency is extremely high, and Elon Musk…will find ways to do it in terms of layoffs and technology. “We believe that increasing productivity — actually shrinking government as a percentage of GDP and taking a lot of waste out of government,” Wood said.
Wood announced in June that he would vote for Trump over Vice President Kamala Harris because he believes the former president is best for the economy.
“Look, I'm going to vote for the person who's going to do the best job for the economy,” Wood said in a “Meet Kevin” interview with financial analyst and YouTuber Kevin Paffras. “I’m a voter when it comes to the economy, and I agree with Trump on that.”
She also said that Art Laffer, founder and chairman of Laffer Associates, said the first three years of Trump's presidency were the best in U.S. economic history, not the last three years because of the coronavirus. and I agree.''
FOX Business' Greg Wehner contributed to this report.
