Odaily News Cathie Wood, founder and CEO of investment management firm Ark Invest, warned that Trump's new tariffs could push the U.S. economy into a recession. "The market is in considerable turmoil," Wood said of the uncertainty caused by the measures. She warned that the policies could push the United States into a recession. "We know how he calculated the reciprocal tariffs, but it doesn't seem to make a lot of sense," she said. "We are in the eye of the storm," Wood said. "But if Trump cares about his political legacy - and we know he does - or cares about the midterm election campaign season that will begin this fall, then the last period of this rolling recession will give him and the Fed more freedom to adjust policy." (thestreet)