Jobs & EconomyIncorrect
“Deflation will be a key theme in 2024 — driven by technology and the unwinding of supply-chain and inventory excesses — prompting the Federal Reserve to cut rates aggressively.”
Founder, CEO & CIO, ARK Investment Management
Said Dec 22, 2023Deadline Dec 31, 2024CNBC 'The Exchange' interview, reported by Benzinga, December 22, 2023
US consumer prices never turned negative in 2024 — headline CPI inflation stayed positive all year and ended around 2.9% year over year — and the Fed cut only 100 basis points, beginning in September, rather than cutting aggressively against deflation.