ALBAWABA - Paul Tudor Jones, the American billionaire hedge fund manager, conservationist, and philanthropist, expects US inflation to continue rising, regardless of whether Donald Trump or Kamala Harris wins the upcoming elections.
US inflation will keep increasing
According to Jones, the US inflation rate will continue to rise, prompting him to hold gold, bitcoins, and commodities as a hedge against inflation. He stated that neither Trump nor Harris plans to address the US debt crisis or rising inflation rates.
Jones further expects the inflation rate to rise after the US elections finishes in November, as both candidates promised tax cuts and increased spending proposals.
Jones warned of a potential major debt crisis and high inflation rates if these issues remain unaddressed in the country.
US debt was recorded at approximately $35.7 trillion. (Shutterstock)
“I think all roads lead to inflation. I’m long gold, I’m long Bitcoin. I think commodities are so ridiculously underowned—so I’m long commodities,” Jones stated according to CNBC.
Economists expects inflation to rise significantly if Trump wins the upcoming elections, as his administration plans to impose custom taxes and extend the 2017 Tax Cuts law.
It is worth mentioning that US debt was recorded at approximately $35.7 trillion, according to International Monetary Fund data from April 2024.
