JPMorgan CEO Predicts Panic As US Approaches Debt Default

Video Credit: Wibbitz Top Stories
Published on May 11, 2023 - Duration: 01:30s

JPMorgan CEO Predicts Panic As US Approaches Debt Default

JPMorgan CEO , Predicts Panic As US , Approaches Debt Default.

On May 11, Jamie Dimon, the CEO of JPMorgan Chase, said that markets will be affected by panic as the U.S. nears a potential default on its sovereign debt.

CNBC reports that Dimon called a default "potentially catastrophic" for the U.S. while speaking to 'Bloomberg.'.

The closer you get to it, you will have panic, Jamie Dimon, JPMorgan CEO, via CNBC.

He also predicted that lawmakers will be forced to take action in order to avoid the worst-case scenario.

CNBC reports that Dimon is just one of many business leaders and officials to predict dire consequences if the U.S. debt limit is not raised or suspended.

If it gets to that panic point, people have to react, weโ€™ve seen that before, Jamie Dimon, JPMorgan CEO, via CNBC.

Panic becomes something that is not good.

It could affect other markets around the world, Jamie Dimon, JPMorgan CEO, via CNBC.

Dimon stressed that a default would send shockwaves through the financial world, and urged politicians on both sides of the political divide to reach a compromise.

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In the wake of three financial firms' collapse, Dimon said that while regional banks remain "quite strong," bank runs are likely to worsen as the potential default looms closer.

In the wake of three financial firms' collapse, Dimon said that while regional banks remain "quite strong," bank runs are likely to worsen as the potential default looms closer.

I think we have to assume thereโ€™ll be a little bit more, Jamie Dimon, JPMorgan CEO, via CNBC


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