- JPMorgan strategists said Joe Biden may withdraw from this year’s presidential election.
- Michael Chamberrest said a Biden withdrawal could happen “sometime between Super Tuesday and the November election.”
- Biden’s candidacy has been plagued by concerns about his low approval ratings and his age.
JPMorgan Asset Management strategist Michael Chamberest says President Joe Biden may not be on the November ballot.
Chamberrest predicted that Biden would withdraw from the race “sometime between Super Tuesday and the November election, citing health reasons.”
Super Tuesday is set for March 5, when primaries and caucuses will be held in 16 states and territories.
Mr. Cembalest wrote that Mr. Biden would be replaced by “a candidate nominated by the Democratic National Committee.”
JPMorgan’s Chairman of Markets and Investment Strategy Chamberlain made this prediction in his list of “Top 10 Surprises of 2024.” Mr. Cembalest’s list was published in JPMorgan Asset Management’s Eye on the Market Outlook on January 1st.
“Biden has had low approval ratings as president with job creation of around 10% since taking office, but these numbers are a byproduct of his inauguration coinciding with the rollout of coronavirus vaccines and the reopening of the U.S. economy,” Cenbalest said. wrote.
Biden announced in April that he would seek re-election, urging voters to “get the job done.” The 81-year-old has cast himself as the best candidate to defeat former President Donald Trump and protect American democracy.
“Americans, as we enter this election year, let us be clear: Democracy is on the ballot. Your freedom is on the ballot,” Biden said Friday in a speech in Pennsylvania. ”.
But concerns about Biden’s low approval ratings and age are troubling his campaign. Recent polls suggest that 2024 will be a close race between Biden and Trump.
Biden dismissed comments about his age, saying it was an advantage to his candidacy.
“I’ve gained so much wisdom, I know so much more than most people, and I have more experience than anyone who’s ever run for president,” Biden said on MSNBC in May. Ta.
David Axelrod, who advised President Barack Obama on his presidential campaign, questioned Biden’s candidacy in November.
“If he continues to run, he will be the Democratic nominee. What he needs to decide is whether it’s wise, whether it’s in his interest or whether it’s in the country’s interest.” The question is, will it become?” Axelrod I have written At X.
Axelrod later told Politico that he was not asking Biden to withdraw from the race.
“He’s the only one who can make the decision, and if his decision is, ‘No, I’m the best person to take this on,’ then he’ll do it,” Axelrod said.
It is unclear who will replace Biden if he resigns.
Vice President Kamala Harris told 60 Minutes in October that she would “not engage in that theory” when asked.
“Joe Biden is really alive and running for re-election,” Harris told 60 Minutes’ Bill Whitaker.
California Gov. Gavin Newsom, another prominent Democratic figure, has repeatedly denied speculation that he might run.
“No, that’s not happening, no, no, that’s not happening at all,” Newsom said at the Texas Tribune Festival in September 2022.
Representatives for JPMorgan Asset Management and Biden did not immediately respond to requests for comment from Business Insider sent outside normal business hours.
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