Index Investing News
Friday, May 30, 2025
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

Dimon says Congress shouldn’t play games with U.S. creditworthiness

by Index Investing News
January 19, 2023
in Markets
Reading Time: 2 mins read
A A
0
Home Markets
Share on FacebookShare on Twitter


Jamie Dimon, President, CEO & Chairman of JP Morgan Chase, speaking on Squawk Box at the WEF in Davos, Switzerland on Jan. 19th, 2023. 

Adam Galica | CNBC

JPMorgan Chase CEO Jamie Dimon said Thursday that politicians should be serious about the debt ceiling as Congress remains locked in a political fight to increase the U.S. borrowing limit.

“We should never question the creditworthiness of the United States government. That is sacrosanct. It should never happen,” Dimon said Thursday on CNBC’s “Squawk Box” from the World Economic Forum in Davos, Switzerland.

His comments come as Congress remains in a standoff over the debt ceiling, the amount of money the U.S. is authorized to borrow to pay its bills. Treasury Secretary Janet Yellen said last week that a U.S. debt default would “cause irreparable harm to the U.S. economy, the livelihoods of all Americans, and global financial stability.”

Today, Dimon said, “Of course Democrats will blame the Republicans and Republicans will blame the Democrats. I don’t care who blames who. Even questioning it is the wrong thing to do. … That is just a part of the financial structure of the world. This is not something you should be playing games with at all.”

The current ceiling is about $31.4 trillion. Since the cost of government operations exceeds federal tax revenues, the U.S. must raise money by selling Treasury bonds, but can’t do so beyond the mandated debt ceiling.

A U.S. default would send shock waves throughout the U.S. and global economies, including market volatility and frozen federal benefits.

On the broader economy, Dimon said inflation will likely remain stubbornly elevated, forcing the Federal Reserve to raise interest rates higher than 5%.

— CNBC’s Greg Iacurci contributed reporting.



Source link

Tags: CongresscreditworthinessDimonGamesplayShouldnt
ShareTweetShareShare
Previous Post

Six Benefits Of Exchanging Into Delaware Statutory Trust Properties

Next Post

World Bank delays $1.1 billion loan to cash-starved Pakistan until next FY

Related Posts

What a federal commerce courtroom block on Trump tariffs means for shoppers

What a federal commerce courtroom block on Trump tariffs means for shoppers

by Index Investing News
May 30, 2025
0

President Donald Trump holds a chart as he proclaims a plan for tariffs on imported items throughout an occasion April...

U.S.-China talks ‘stalled’ and want Trump and Xi to weigh in, Bessent says

U.S.-China talks ‘stalled’ and want Trump and Xi to weigh in, Bessent says

by Index Investing News
May 30, 2025
0

The U.S. and Chinese language flags are seen on the day of a bilateral assembly between the U.S. and China,...

Costco (COST) Q3 2025 earnings beat estimates; gross sales up 8%

Costco (COST) Q3 2025 earnings beat estimates; gross sales up 8%

by Index Investing News
May 29, 2025
0

Warehouse large Costco Wholesale Company (NASDAQ: COST) reported a rise in revenue for the third quarter of 2025, pushed by...

Kohl’s Company stories narrower web loss for Q1 2025; gross sales down 4%

Kohl’s Company stories narrower web loss for Q1 2025; gross sales down 4%

by Index Investing News
May 30, 2025
0

Kohl’s Company (NYSE: KSS) reported a narrower web loss for the primary quarter of 2025. The division retailer chain’s web...

FL Infographic: Foot Locker slips to loss in Q1 2025; income down 5%

FL Infographic: Foot Locker slips to loss in Q1 2025; income down 5%

by Index Investing News
May 29, 2025
0

Foot Locker, Inc. (NYSE: FL), a number one footwear and attire retailer, reported a web loss for the primary quarter of...

Next Post
World Bank delays .1 billion loan to cash-starved Pakistan until next FY

World Bank delays $1.1 billion loan to cash-starved Pakistan until next FY

What Does China Recovery Mean For Semis And The Global Economy?

What Does China Recovery Mean For Semis And The Global Economy?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

Sysco Stock: Reasonably Valued (NYSE:SYY)

Sysco Stock: Reasonably Valued (NYSE:SYY)

February 1, 2024
Uganda protest organisers taking part in with fireplace, president says

Uganda protest organisers taking part in with fireplace, president says

July 21, 2024
Red Sea crisis raises fears for global trade

Red Sea crisis raises fears for global trade

January 13, 2024
India’s food price inflation raises risks for Narendra Modi’s government

India’s food price inflation raises risks for Narendra Modi’s government

July 30, 2023
FTC to block Amgen’s .8 billion deal for Horizon Therapeutics

FTC to block Amgen’s $27.8 billion deal for Horizon Therapeutics

May 16, 2023
Shopify Launches Comprehensive Blockchain Suite For Merchants

Shopify Launches Comprehensive Blockchain Suite For Merchants

February 12, 2023
NeoGames Acquisition Deal By Aristocrat Makes For A Nice Fit (NASDAQ:NGMS)

NeoGames Acquisition Deal By Aristocrat Makes For A Nice Fit (NASDAQ:NGMS)

May 16, 2023
Alphabet (GOOG, GOOGL) Q1 2025 Earnings: Key financials and quarterly highlights

Alphabet (GOOG, GOOGL) Q1 2025 Earnings: Key financials and quarterly highlights

April 25, 2025
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In