If the U.S. economy tanks in the next year, President Donald Trump might not even bother running for re-election, “Bond King” Jeffrey Gundlach said Wednesday.
“I am not even sure he’s going to really run,” the DoubleLine Capital chief executive told Fox Business’s Neil Cavuto during an interview Wednesday.
“If the economy goes into recession and he can’t pull out by removing the tariffs, there’s very little for him to run on.”
Citing historical precedent, Gundlach noted: “Lyndon Johnson ran for a while too and then pulled out because of the war problems. . . . Things can change”
Gundlach said Trump’s re-election chances depend almost entirely on the economy. And just last week, he predicted a 40% to 50% chance of a U.S. recession within the next six months, and a 65% chance of a recession in the next 12 months.
But if the economy remains healthy, he said Trump will win a second term.
Trump kicked off his re-election campaign with a rally Tuesday night in Orlando, Fla.
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