ASX LIVE: ASX flat; energy stocks rally

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Australian shares are set to edge lower. Megacap techs shift into reverse, energy shifts higher. Bitcoin still on defensive. Follow updates here.

Cathie Wood says the Federal Reserve will be forced into a total retreat because she believes inflation is transitory.

Wood was asked about the performance of her flagship ARKK Innovation Fund which is down 66 per cent over two years but year-to-date is up about 36 per cent. Inflation she said, was a function of supply chain disruptions due to a “pandemic and a war” and would abate.

 

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