JPMorgan/ Dimon: Debt ceiling dispute could cause panic

JPMorgan Chase CEO Jamie Dimon said the congressional dispute over the US debt ceiling and a possible US default could create a financial panic.

“Panic doesn’t necessarily make sense. People panic, and we saw people panic in 2008-2009. That’s really what you want to avoid,” Dimon told Punchbowl News on his website.

Dimon stated that due to the current political situation, there is a high probability of making a mistake that will have damaging economic consequences. “I hope we will get out of this situation,” said Dimon, while repeating his call for the federal debt ceiling to be lifted altogether.