JPMorgan/Dimon: Debt ceiling dispute could cause panic

JPMorgan Chase CEO Jamie Dimon has warned that the ongoing disagreement in Congress over the federal debt ceiling, the lack of a solution and the potential for a U.S. default could create a financial panic. JPMorgan Chase CEO Jamie Dimon has warned that the ongoing disagreement in Congress over the U.S. debt ceiling and a possible U.S. default could create a financial panic. “Panic is not necessarily a rational thing,” Dimon told Punchbowl News on its website. “People panic, and we saw people panic in 2008-2009. That’s really what you want to avoid.” Dimon said the political climate makes it likely that a mistake will be made that could have damaging economic consequences. “I hope we get out of this,” Dimon said, while reiterating his call for the complete repeal of the federal debt ceiling.