Technological Convergence and Its Economic Impact: Insights from ARK’s Big Ideas 2024
In the latest episode of ‘In the Know,’ ARK CEO/CIO, Cathie Wood, and ARK Chief Futurist, Brett Winton, discuss the convergence of technology, artificial intelligence, and the potential impact on the global economy.
The conversation also covers the implications of the latest employment numbers, the state of the banking system, and the role of Bitcoin in the current economic scenario.
Risks in the banking system
The banking system is facing risks such as defaults and deposit outflows, with inflation expected to decrease and potentially turn negative.
The rise in inflation was caused by COVID-19 and two wars rather than monetary policy.
In technology, this decade is going to feel like the second half of the chessboard…it just totally overwhelms the equation. – Brett Winton
Real interest rates and yield curve
Real interest rates have increased significantly, and if prices continue to fall on a yearly basis, real interest rates could reach as high as 5% to 7.5%.
The yield curve remains inverted, indicating tight monetary policy.
