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jpmorgan

Agence France-Presse

<div><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/174881670224920250602.jpg" style="width:960px" class="fr-fic fr-dib"/>Photo by Precious Madubuike on Unsplash</div>SAN FRANCISCO, United States - JPMorgan Chase chief executive Jamie Dimon voiced concern Sunday at the risk of a looming US debt market crisis sparked by the Trump administration&#x27;s economic policies.&quot;It&#x27;s a big deal. It is a real problem,&quot; Dimon told Maria Bartiromo on FOX Business Network&#x27;s &quot;Mornings with Maria&quot; show, according to an excerpt of the interview that will air in full Monday.&quot;The bond market is going to have a tough time. I don&#x27;t know if it&#x27;s six months or six years,&quot; he said.Dimon cautioned that once investors become aware of the impact of rising debt levels, interest rates would skyrocket and markets would be disrupted -- a dangerous scenario for the world&#x27;s biggest economy.&quot;People vote with their feet,&quot; he stressed.Investors &quot;are going to be looking at the country, the rule of law, the inflation rates, the central bank policies,&quot; he said, warning that &quot;if people decide that the US dollar isn&#x27;t the place to be,&quot; financing US debt will become more expensive.Historically, the United States has been able to rely on market appetite for low-interest US Treasury bonds to support its economy.Yields briefly climbed last week, amid concerns about President Donald Trump&#x27;s divisive budget plan.The plan would among other things extend the gigantic tax breaks introduced during Trump&#x27;s first term, spurring fears of a ballooning federal deficit.In mid-May, for the first time ever, the United States lost its triple-A credit rating from Moody&#x27;s.When it announced the downgrade to Aa1, the ratings agency warned that it expects US federal deficits to widen dramatically over the next decade.The White House&#x27;s back-and-forth announcements of towering tariffs slapped on countries around the world are also creating considerable uncertainty and thus market volatility.Dimon already warned in April of &quot;considerable turbulence&quot; facing the American economy, pointing to the impact of tariffs, trade wars, inflation and budget deficits.US Treasury Secretary Scott Bessent on Sunday downplayed Dimon&#x27;s predictions of a debt market crisis.&quot;I&#x27;ve known Jamie a long time, and for his entire career he&#x27;s made predictions like this,&quot; Bessent said during an interview on CBS.&quot;Fortunately, not all of them have come true.&quot;Bessent acknowledged that he &quot;was concerned about the level of debt.&quot;But he said &quot;the deficit this year is going to be lower than the deficit last year, and in two years, it will be lower again.&quot;&quot;We are going to bring the deficit down slowly,&quot; Bessent added, insisting that addressing the deficit was a &quot;long process.&quot;&quot;The goal is to bring it down over the next four years, (and to) leave the country in great shape in 2028.&quot;juj/nl/mlm© Agence France-Presse

JPMorgan Chase chief executive Jamie Dimon voiced concern Sunday at the risk of a looming US debt market crisis sparked by the Trump administration's economic policies.

JPMorgan Chase chief executive Jamie Dimon voiced concern Sunday at the risk of a looming US debt market crisis sparked by the Trump administration's economic policies.

US debt market crisis looming, JPMorgan chief warns

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US debt market crisis looming, JPMorgan chief warns

Agence France-Presse

Published June 02, 2025 06:25 AM PHT

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