George Soros, and former President Donald Trump.
George Soros expects a economic crisis if Donald Trump regains the White House.
He told Project Syndicate the US would face both a constitutional, and economic, crisis.
Some commentators fear a recession following the Federal Reserve’s rapid rate rises.
Billionaire investor George Soros warned of a constitutional and economic crisis if Donald Trump is elected as president for a second time.
The Soros Fund Management founder made his remarks in a Project Syndicate article as the 2024 election cycle gets underway and Trump faces a host of legal battles.
Just three weeks ago, the 45 th President got indicted for trying to turn the result of the 2020 election. It’s the fourth time this year Trump’s been indicted.
That’s not stopped Trump from seeking the Republican nomination for a third time – something that’s not sitting well with Soros.
“I expect that Trump will be found guilty at least in some cases, and will be in jail by election day in November 2024, though that is not the general expectation today,” Soros told Project Syndicate.
“If I am right, he is unlikely to win the election. But if I am wrong, the US will face a constitutional crisis that is likely to bring on an economic crisis as well,” he added.
Soros’ comments come at a time of heightened concern about the US economy falling into recession following the Federal Reserve’s aggressive interest rate rises over the past year.
The central bank has increased borrowing costs from near-zero levels to more than 5% in a bid to cool inflation.