J.P. Morgan Asset Management strategist Michael Cembalest recently presented his list of “top ten possible surprises for 2024,” including a prediction that President Joe Biden might drop out of the 2024 election citing health reasons. The list, published in J.P. Morgan Asset Management’s “Eye on the Market Outlook” on Jan. 1, encompasses a range of speculations, from economic to political.

At J.P. Morgan Cembalest is responsible for leading the strategic market and investment insights across the firm’s Institutional, Funds and Private Banking businesses. He is also a member of the J.P. Morgan Asset Management Investment Committee and a member of the Investment Committee for the J.P. Morgan Retirement Plan for the firm’s more than 256,000 employees.

Cembalest’s most startling prediction is that Biden, facing election challenges such as low approval ratings, might exit the presidential race between Super Tuesday and the November election, blaming it on health reasons. This prediction suggests there could be a potential shake-up in the Democratic candidacy, with the president being replaced by a candidate named by the Democratic National Committee, Business Insider reported.

While Biden has framed himself as the best candidate to defeat former President Donald Trump and safeguard American democracy, concerns about his age and approval ratings have fueled speculation about the competitiveness of the 2024 race.

Cembalest predicted Biden would drop out from the race “sometime between Super Tuesday and the November election, citing health reasons.” Super Tuesday will take place March 5, with 16 states and territories holding their primaries and caucuses on that day.

In April, Biden, 81, announced his reelection bid to “finish the job.”

Cembalest’s list doesn’t stop at political predictions. It also includes forecasts about potential rolling blackouts hitting major U.S. cities due to natural gas shortages and a backlash against self-driving electric vehicles amid safety concerns. These predictions, while speculative, contribute to the strategist’s broader effort to stimulate unconventional thinking about potential future developments, The Daily Mail reported.

President Joe Biden on April 4, 2023, in Washington. (AP/Patrick Semansky)/Photo by Jordan Benton: https://www.pexels.com/photo/shallow-focus-of-clear-hourglass-1095601/