Economist Edward Dowd, known for his time as a manager at BlackRock, warned of an upcoming financial crisis that he believes will favor President Donald Trump in the November election. Speaking on War Room, Dowd discussed alarming economic indicators and questioned the Biden administration’s handling of the economy.
Dowd took issue with recent remarks from Treasury Secretary Janet Yellen, who claimed there are no signs of financial trouble. He compared Yellen’s comments to reassurances given just before the 2008 financial collapse, warning that a “rug pull” is likely coming soon. He also pointed to fraudulent employment numbers, noting that a recent correction showed 850,000 fewer jobs than originally reported.
According to Dowd, the government has managed to delay a recession through massive spending and Federal Reserve interventions, but those measures are no longer enough. He predicted a major downturn in October as the economy slows and Wall Street investors hold off on making moves until after the election.
Dowd’s analysis suggests that Trump could benefit from the looming economic crisis. As businesses pull back investments and economic confidence weakens, voters may turn away from the Biden-Harris administration. Dowd believes the truth about the economy will soon become impossible to hide, leading to a shift in voter sentiment.
As the election nears, Dowd’s warnings of an economic collapse are raising concerns about the future direction of the country.
