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June 19, 2019, 8:22 p.m. EDT

Here’s why Jeffrey Gundlach thinks Trump might drop out of 2020 presidential race

‘Bond King’ says Trump’s chances depend on the economy’s health

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By Mike Murphy

Bloomberg News
Jeffrey Gundlach, chief executive and chief investment officer of DoubleLine Capital LP, speaks in 2015.

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.”

Jeffrey Gundlach

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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