In a sobering interview on NBC’s Meet the Press this past Sunday, billionaire investor Ray Dalio issued a stark warning: The U.S. and global economy may be heading into a period of unprecedented instability — one potentially “worse than a recession.

During an interview on NBC's Meet the Press, Dalio warned that Trump's tariff policies and current global tensions could lead to a crisis "worse than a recession." The hedge fund manager compared the current situation to the 1930s, highlighting risks like internal political conflict, shifting global power dynamics, and economic instability.

Ray Dalio, billionaire investor and founder of one of the world’s largest hedge funds, warned that US President Donald Trump’s tariff war has put the country near a recession and said he’s worried “something worse” than a recession could come.