A top JP Morgan strategist predicted in January that Biden would drop out. Here’s what else was in that analyst’s list of top 10 ‘surprises’ to look out for in 2024. [Video]

JPMorgan Asset Management strategist Michael Cembalest was right on the money when he predicted that President Joe Biden would drop out from the 2024 presidential race.

Cembalest, who chairs the company’s market and investment strategy, made the prediction in his list of “top 10 possible surprises for 2024.” The list was published in JPMorgan Asset Management’s January 1 “Eye on the Market Outlook.”

“President Biden withdraws sometime between Super Tuesday and the November election, citing health reasons. Biden passes the torch to a replacement candidate named by the Democratic National Committee,” Cembalest wrote.

In his prediction, Cembalest didn’t specify the reasons for Biden’s withdrawal. However, he did note that the president “has a low approval rating for a President with ~10% job creation since his inauguration.”

On Sunday, Biden dropped out of the race and endorsed Vice President Kamala Harris as his successor.

It remains unclear how the Democratic Party will pick Biden’s replacement. Some have called for an open conventionwhere potential …