Cathie Wood supports Trump in the 2024 elections

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Cathie Woodthe CEO of ARK Investhas expressed his support for the former US president donald trump in the upcoming US presidential election, citing his economic policies as the main reason for his preference in the 2024 elections.

Cathie Wood will vote for Trump

Wood, a prominent figure in the world of investments, made his position clear in an interview with the financial analyst and YouTuber Kevin Paffrath. When asked who he would choose between Trump and the current president Joe BidenWood stated that he would vote for the person he believes would best serve the country’s economy.

“Look, I’m going to vote for the person who’s going to do the best job for our economy,” Wood told his children, as reported by Fox Business.

“I’m a voter when it comes to the economy, and on that basis, Trump.”

Wood also referenced the praise given to Trump’s economic policies by Art Lafferthe founder and president of Laffer Associates, who described the first three years of the Trump presidency as the best in US economic history.

Wood’s endorsement comes at a time when several billionaires are supporting Trump’s re-election campaign. This includes Stephen Schwarzmanthe CEO and co-founder of blackstonewho has reportedly supported Trump in the 2024 race.

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Trump’s economic policies

Trump’s economic policies have been the subject of debate and scrutiny. A May survey found that even though the Biden administration oversaw strong economic growth and a robust job market, 51% of respondents believed they were better off financially during the Trump presidency.

However, Trump’s economic policies have also faced criticism. Former US Secretary of the Treasury, Larry Summers, warned that Trump’s fiscal policy could lead to the “mother of all stagflations.” Summers called Trump’s tariff proposals the biggest supply shock that could raise prices not just for imported goods, but for all goods that compete with those imported goods.

A recent poll last week indicated that 32% of independent voters are less likely to support Trump following his conviction on 34 counts of falsifying business records. This legal problem could affect his campaign.

Trump has also been vocal about his economic strategies, emphasizing the importance of regulations and taxes. On a recent episode of the All-In podcast, Trump highlighted his focus on “regulation, regulation and taxes,” pointing to the significant tax cuts for businesses made by his administration.

Photo via Ark Invest

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