Ray Dalio, a multi -million dollar founder of one of the largest coverage funds in the world, said Sunday that President Trump’s trade war has led the United States to the recession.
He was asked in NBC’s “Meet The Press” if he thought that the world’s largest economy could immerse himself in the recession, generally understood as a significant decrease in production, as results of a commercial war that has rute global markets in recent weeks.
Bridgewater Associates founder said: “I think we are at a decision -making point and very close to a recession.”
The tariff plan includes duties in dozen countries, but the planned start dates for many of them changed abruptly last week, with a 90 -day break for goods from many places, except China.
Dalio said this had been “very harmful” and that the impact of tariffs “was” how to throw rocks into the production system. “
Hey, also expressed concern about the combined potential impact of US debt, the United States budget deficit and global political tension.
“We have deep changes in the world order … if you take tariffs, if debt, if you take the growing power that defies existing power … how it manages that could produce something that is much worse than a recession.”
He invoked the market crises of 1971 and 2008 and said that the current situation “could be more severe than the other issues simultaneously,” he said.
Dalio founded Bridgewater, based in Connecticut, approximately 50 years ago and has 175 investors, including pension funds, foundations and central banks.