Cathie Wood

The US CPI inflation rate will turn negative at some point in 2024.

“The Federal Reserve has overdone it, we’re going to see a lot more deflation going forward”

Said on

14 November 2023 · Bloomberg TV interview; in the same interview she said the CPI inflation rate could turn negative "at some point next year" (2024).

Source

Cathie Wood Says Inflation Rate To Turn Negative In 2024 · Financial Advisor (Bloomberg News)

Should come true

2024

How sure they sounded

we're going to see; could turn negative

Categories

Economy

Importance

3 of 5 · A call on US deflation, central to Fed policy and markets.

Outcome

Inaccurate

The year-over-year US CPI inflation rate never turned negative in 2024; its lowest reading was 2.4% in September 2024. The only negative print was a single -0.1% month-over-month change in June 2024, which is not what an "inflation rate turning negative" normally means.

Evidence:

• https://www.bls.gov/news.release/archives/cpi_10102024.htm
• https://fred.stlouisfed.org/series/CPIAUCSL