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,
we’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. .
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
there’ll be a little bit more, Jamie Dimon, JPMorgan CEO, via CNBC