{"id":44450,"date":"2023-01-20T04:05:10","date_gmt":"2023-01-20T04:05:10","guid":{"rendered":"http:\/\/www.brandon.ddtest.info\/multisite-test\/jamie-dimon-on-debt-ceiling-not-something-we-should-be-playing-around-with\/"},"modified":"2023-01-20T04:05:10","modified_gmt":"2023-01-20T04:05:10","slug":"jamie-dimon-on-debt-ceiling-not-something-we-should-be-playing-around-with","status":"publish","type":"post","link":"http:\/\/www.brandon.ddtest.info\/multisite-test\/jamie-dimon-on-debt-ceiling-not-something-we-should-be-playing-around-with\/","title":{"rendered":"Jamie Dimon on debt ceiling: ‘Not something we should be playing around with’"},"content":{"rendered":"

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RealClear Markets editor John Tamny discusses if Biden and Republicans can reach a debt limit deal on “Cavuto: Coast to Coast.”<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

JPMorgan Chase CEO Jamie Dimon<\/a> on Thursday weighed in on the debt ceiling, saying it is “not something we should be playing around with.”<\/p>\n

He said during a CNBC interview that people “should never question the credit worthiness<\/a>” of the U.S. government and described it as “sacrosanct.”<\/p>\n

“Now, of course Democrats are going to blame the Republicans, and Republicans are going to blame the Democrats. I don\u2019t care who blames who,” Dimon went on to say. “Even questioning it is the wrong thing to do.”<\/p>\n

JPMORGAN’S JAMIE DIMON MORE OPTIMISTIC ON US CONSUMER<\/strong><\/a><\/p>\n

“That is just a part of the financial structure of the world, and this is not something we should be playing games with at all,” he added regarding the debt ceiling.<\/p>\n

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Jamie Dimon, chairman and chief executive officer of JPMorgan Chase, speaks during the Institute of International Finance annual membership meeting in Washington, on Oct. 13, 2022.<\/span> (Ting Shen \/ Bloomberg via Getty Images \/ AP Newsroom)<\/span><\/p>\n<\/div>\n<\/div>\n

The federal government<\/a> hit its debt limit of around $31.4 trillion on Thursday. Roughly $24.5 trillion of America\u2019s total public debt outstanding consists of debt held by the public, while about $6.9 trillion is intragovernmental holdings, according to the latest data<\/a> from the Treasury Department.\u00a0<\/p>\n

US HITS DEBT CEILING, THREATENING ECONOMIC OUTLOOK<\/strong><\/a><\/p>\n

On the same day, Treasury Secretary Janet Yellen notified Congress in a letter of the “extraordinary measures<\/a>” the department “began using today” to avoid a default, calling on lawmakers to “act promptly to protect the full faith and credit of the United States.”<\/p>\n

There have been 78 separate instances of Congress moving to “permanently raise, temporarily extend, or revise the definition” of the debt limit in the last 63 years, according to<\/a> the Treasury Department. The last time it was raised was in December 2021, when lawmakers voted to do so.<\/p>\n

Dimon previously discussed the “potentially disaster outcomes” that could occur “on the day that America can\u2019t pay its debt” last week during an interview with “Mornings with Maria<\/a>” host Maria Bartiromo.<\/p>\n

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JPMorgan Chase CEO Jamie Dimon looks on during the inauguration of the new French headquarters of JPMorgan bank, June 29, 2021, in Paris.<\/span> (AP Photo \/ Michel Euler \/ Pool \/ AP Newsroom)<\/span><\/p>\n<\/div>\n<\/div>\n

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Jamie Dimon<\/span> (Al Drago \/ Bloomberg via Getty Images \/ File \/ Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n

JAMIE DIMON SOUNDS ALARM ON RISING US DEBT HAVING \u2018POTENTIALLY DISASTROUS OUTCOMES\u2019<\/strong><\/a><\/p>\n

“Once American debt goes into default, a lot of people can\u2019t own it anymore, and American debt doesn\u2019t cross-default, but it\u2019s cumulative,” he said. “The [Treasury bill] defaults, and the next week T-bill defaults, the next week T-bill defaults, pension plans have to sell.”<\/p>\n

Kristen Altus and Megan Henney contributed to this report.<\/i><\/p>\n<\/div>\n\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

RealClear Markets editor John Tamny discusses if Biden and Republicans can reach a debt limit deal on “Cavuto: Coast to Coast.” JPMorgan Chase CEO Jamie Dimon on Thursday weighed in on the debt ceiling, saying it is “not something we should be playing around with.” He said during a CNBC interview that people “should never …<\/p>\n","protected":false},"author":1,"featured_media":44451,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[161],"tags":[],"_links":{"self":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/posts\/44450"}],"collection":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/comments?post=44450"}],"version-history":[{"count":0,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/posts\/44450\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/media\/44451"}],"wp:attachment":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/media?parent=44450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/categories?post=44450"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/tags?post=44450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}