"Sister Wood" claims that Trump's tariffs could potentially lead the United States into recession

The founder and CEO of Ark Investment Management, Cathie Wood, warned on Friday that Trump's new tariffs could plunge the US economy into recession. Speaking about the uncertainty these measures bring, Wood said: "The market is in quite a bit of turmoil." She warned that these policies could lead to a recession in the United States. She said: "We know how he calculates reciprocal tariffs, but it doesn't seem to make much sense." Wood added: "We are in the eye of the storm. However, if Trump cares about his political legacy - which we know he does - or cares about the midterm election campaign season starting this fall, then this final period of rolling recession will give him and the Federal Reserve more freedom to adjust policy."