Billionaire hedge fund manager Ray Dalio isn't just worried about a recession in the United States, he told "Meet the Press" host Kristen Welker Sunday, he's worried about "something worse than a recession if this isn't handled well.

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.