Joe Biden sat in stunned silence after a hedge fund titan made one devastating prediction

The Biden economy is teetering on the brink of total disaster.

It could be getting worse than anyone could have ever imagined.

And Joe Biden sat in stunned silence after a hedge fund titan made one devastating prediction.

Former President Donald Trump gift-wrapped an economy on the way to a complete recovery from the disastrous effects of COVID lockdowns for his successor, President Joe Biden.

But in less than two years, President Biden, and the Democrat-controlled Congress, has managed to run the American economy into the ground.

Inflation is running rampant, the stock market and housing market are crashing, and economic growth is cratering.

Despite Biden’s best efforts to redefine the word, the United States is officially in the Biden recession.

The biggest economic crisis of the Biden Presidency is on the way, according to one of the top minds on Wall Street.

Billionaire Ray Dalio founded one of the largest hedge funds in the world, Bridgewater Associates.

He sounded the alarm on the direction of the Biden economy, as the Federal Reserve is poised to continue hiking interest rates to bring down inflation.

Dalio predicted that inflation would stay elevated in the medium term, with the possibility of shocks to the economic system causing a jump.

He thought that the Fed would hike interest rates from nearly double the current range to 4.5% by 2023, which would lead to the stock market plummeting by 20% and bring “the economy down with it.”

“It looks like interest rates will have to rise a lot (toward the higher end of the 4.5% to 6% range),” Dalio said, reacting to the latest devastating inflation report. “This will bring private sector credit growth down, which will bring private sector spending and, hence, the economy down with it.”

The Fed is moving ahead with hiking interest rates to combat inflation, even with the potential risk of crashing the economy.

The Biden economy has already slipped into a recession after two consecutive quarters of negative economic growth.

Even more economic pain is on the way with another round of interest rate hikes.

Nearly doubling the current interest rate by the Fed would lead to “a significant fall in private credit that will curtail spending,” according Dalio.

With the cost to borrow money skyrocketing, an already beleaguered Biden economy is going to take another hit as economic growth continues to slow.

The market is already bracing for another interest rate hike from the Fed’s next policy setting that could range from a .75-basis-point rate hike to potentially a full point.

After unleashing the worst inflation in a generation, Joe Biden will have to live with the devastating consequences of trying to get it under control, while the Fed continues with aggressive interest rate hikes.

Stay tuned to Conservative Underground News for any updates to this ongoing story.