Jamie Dimon, CEO of JPMorgan Chase & Co. (NYSE:JPM) did not predict when America’s $39 trillion debt issue might reach its peak, but stressed that the country’s fiscal trajectory cannot be ignored indefinitely.
Speaking at the NPR’s Newsmakers podcast on Wednesday, Dimon warned that the debt issue could lead to volatile markets, increased rates, and a reluctance to buy U.S. Treasuries. The billionaire banker called for the problem to be addressed sooner rather than later, to avoid crisis management.
“The best way to deal with the problem is to actually deal with the problem—to acknowledge it, to work on it,” he said.
Dimon urged the problem to be recognized and addressed, citing the Obama-era Simpson-Bowles Commission’s solution, which was never implemented. ” I wish it had gotten done. It would have …Full story available on Benzinga.com
