JP Morgan’s senior analyst predicted that US President Joe Biden will withdraw from the 2024 election due to his declining health and approval ratings. Michael Cembalest, president of market and investment strategy at JP Morgan Asset & Wealth Management, made a series of predictions in the firm’s “Eye on the Market Outlook 2024” report. Cembalest expects Biden to drop out of the race between Super Tuesday, the day many U.S. states hold primary elections, and the November election. President Biden’s approval rating currently sits at 38.8%, according to FiveThirtyEight, lower than Donald Trump’s rating during his most difficult period as president. Cembalest also predicts that the US dollar will remain the currency of choice, that the war between Russia and Ukraine will continue until 2024, and that a new COVID-19 vaccine will be rolled out.
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Joe Biden should withdraw from the 2024 presidential election
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