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Cathie Wood, chief executive officer of ARK Investment Management. Photo: Eva Marie Uzcategui/Bloomberg Cathie Wood, chief executive officer of Ark Investment Management. Photo: Eva Marie Uzcategui/Bloomberg

Cathie Wood says the massive inventories now held by U.S. companies suggest that inflation will die down. “I’ve never seen inventory surges like this in my career, and I’ve been around for a long time,” the head of Ark Investment Management said in an interview with Bloomberg Television Wednesday. “This inventory issue highlights the cyclical reason we’ve been saying we think inflation will unravel.”

Major retailers that amassed stockpiles last year amid soaring consumer demand and supply-chain bottlenecks are now struggling with bloated inventories. On Tuesday, Target Corp. cut its profit outlook for the second time in three weeks on an inventory surge.

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