Esteemed JPMorgan Chase strategist Michael Cembalest suggested this week that U.S. President Joe Biden might bow out of the 2024 presidential race before polling day. He indicated that plans might be underway for such an occurrence. Cembalest, the spearhead of the market and investment strategy division at JPMorgan Chase's asset management wing, theorizes Biden, aged 81, could exit the race 'between Super Tuesday and the November election, on grounds of health.'

The prominent Super Tuesday, scheduled for March 5, sees primaries being held in a diverse array of states, including the likes of California, Massachusetts, Texas, Vermont, and North Carolina. Historically, the candidate that bags the most Super Tuesday victories typically receives a significant boost, often emerging as the party's nominee. Cembalest underpinned his proposition by referring to Biden’s sagging approval ratings, despite boasting about 'roughly 10% job growth following his inauguration.'

However, it's worth noting that the job growth is majorly attributed to American citizens re-entering the job market post prolonged COVID shutdowns, a fact Cembalest touched upon in his investor warning. He avoided speculation on who might step into Biden's shoes but suggested that the Democratic National Committee would appoint a 'substitute candidate.'

Traditional thinking suggests Vice President Kamala Harris as the likely successor. However, she has encountered substantial disapproval, which raises doubts. According to the renowned political analysis platform, FiveThirtyEight, her disapproval rate is a staggering 55%, higher than even Biden’s. So, who else is in the frame for the Democrats?

Esteemed JPMorgan Chase strategist Michael Cembalest suggested this week that U.S. President Joe Biden might bow out of the 2024 presidential race before polling day. He indicated that plans might be underway for such an occurrence. Cembalest, the spearhead of the market and investment strategy division at JPMorgan Chase's asset management wing, theorizes Biden, aged 81, could exit the race 'between Super Tuesday and the November election, on grounds of health.'
The prominent Super Tuesday, scheduled for March 5, sees primaries being held in a diverse array of states, including the likes of California, Massachusetts, Texas, Vermont, and North Carolina. Historically, the candidate that bags the most Super Tuesday victories typically receives a significant boost, often emerging as the party's nominee. Cembalest underpinned his proposition by referring to Biden’s sagging approval ratings, despite boasting about 'roughly 10% job growth following his inauguration.'
However, it's worth noting that the job growth is majorly attributed to American citizens re-entering the job market post prolonged COVID shutdowns, a fact Cembalest touched upon in his investor warning. He avoided speculation on who might step into Biden's shoes but suggested that the Democratic National Committee would appoint a 'substitute candidate.'
Traditional thinking suggests Vice President Kamala Harris as the likely successor. However, she has encountered substantial disapproval, which raises doubts. According to the renowned political analysis platform, FiveThirtyEight, her disapproval rate is a staggering 55%, higher than even Biden’s. So, who else is in the frame for the Democrats?

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