"There's a higher chance of a mistake here because of the politics of the situation" with damaging economic consequences, Dimon said. "I hope, one day, we get rid of it," he said, restating a call to scrap the debt limit permanently. The so-called "X-date" - when the government runs short of cash to pay its obligations - could come as early as June 1. (Reporting by Tatiana Bautzer; Editing by Lananh Nguyen; Editing by Sandra Maler)
Messaging: tatiana.bautzer.thomsonreuters.com@reuters.net)) NEW YORK, May 10 (Reuters) - JPMorgan Chase & Co's CEO Jamie Dimon said the congressional standoff over the
U.S. debt ceiling, and a potential U.S. default, could create a
financial panic, according to an interview with Punchbowl News
published on Wednesday.
"Panic isn't necessarily a rational thing," the website
quoted Dimon as saying. "People panic. And (when) you see people
panic -- that's '08, '09 again, and that's really what you want
to avoid."
JPMorgan declined to comment beyond the interview.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.