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Billionaire Ray Dalio says Trump's halting of stimulus negotiations will be a 'significant negative' for the economy

Billionaire Ray Dalio says Trump's halting of stimulus negotiations will be a 'significant negative' for the economy

FILE PHOTO: China Development Forum in Beijing
Thomas Peter/Reuters



Legendary investor Ray Dalio told CNBC on Wednesday that Trump's halting of stimulus talks will be a "significant negative" for the economy.



The absence of what could have been nearly $2 trillion of stimulus will cause "a lot of stress" on "those who are not going to get the money," he said.A A 



The founder of Bridgewater Associates also said that he agreed with Fed Chair Powell's statements that the failure to pass an adequate and timely stimulus could give way to a "weak recovery" in the economy.



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Legendary investor Ray Dalio said the delayed stimulus will be a "significant negative on the economy," following President Trump's decision to halt negotiations for a deal until after the election.A "That's a lot of money, whatever it would have been," Dalio said in a Wednesday interview with CNBC. Lawmakers were negotiating a plan that could have provided between $1.6 trillion and $2.4 trillion of aid. Dalio said the absence of stimulus will cause "a lot of stress" on "those who are not going to get the money."The founder of Bridgewater Associates also said that he agreed with Federal Reserve Chairman Jerome Powell, who said Tuesday morning that that failure to pass an adequate and timely stimulus could give way to a "weak recovery" in the economy.Read more: Goldman Sachs says buy these 21 stocks poised to deliver the strongest possible sales growth through year-end
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