ARK Invest founder Cathie Wood endorsed the President Donald Trump administration’s economic policies Sunday, comparing them to “Reaganomics on steroids” as Treasury Secretary Scott Bessent defended the government’s ability to outgrow mounting debt obligations.
What Happened: Wood posted on X that current policies mirror the former President Ronald Reagan-era playbook of deregulation, tax cuts, and lower interest rates that initially faced market skepticism.
“Early in my career, financial markets doubted that Reaganomics would accelerate GDP [Gross Domestic Product] growth and lower inflation, cutting the deficit. Reaganomics worked,” Wood wrote.
Her comments responded to Bessent’s assertion that “we can both grow the economy and control the debt” by ensuring economic growth outpaces debt accumulation. “If we change the growth trajectory of the country, then we …