Katie Wood’s look gets Elon Musk’s approval

Katie Wood’s look gets Elon Musk’s approval

Cathie Wood and Elon Musk

The term ‘AI’ is becoming contagious. Now, though, it’s not just inundating every tech company in existence; it’s penetrating the investment landscape.

Cathie Wood, the CEO and investment manager of Ark Invest, chimed in on the powerful new technology Sunday night, saying that “AI is unlikely to fix the banking crisis.”

“But the crisis — which is not over — is another sign that the Fed has gone too far,” Wood added. “Many investors ask why we are optimistic. In our view, the equity and fixed income markets are discounting lower interest rates, a plus for innovation!”

Elon Musk — Twitter’s billionaire CEO — tweeted his approval of Wood’s stance on artificial intelligence as it relates to the banking crisis, as well as about her opinion on the way the Fed is handling the crisis, saying simply: “Absolutely.”

“Never has the Fed raised rates in the middle of a crisis,” Wood said on her latest episode of In The Know. “We have the tools to deal with a crisis and we need to fight inflation as, right now, a primary goal of monetary policy.”

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