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Dimon Jabs at Trump on Debt Ceiling, Says JPMorgan Has War Room

  • Trump urged Republicans to dig in on debt ceiling fight
  • Dimon warns of panic as US gets closer to running out of cash
Bloomberg business news
WATCH: “The closer you get to (a US default) you will have panic,” JPMorgan Chase Chair and CEO Jamie Dimon says during an interview with Francine Lacqua.Source: Bloomberg
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JPMorgan Chase & Co.’s Jamie Dimon took a jab at Donald Trump for encouraging Republican lawmakers to dig in over raising the debt limit even if it means default — an outcome his bank is prepping for by convening a weekly war room. 

“It’s one more thing he doesn’t know very much about,” Dimon said in an interview with Bloomberg Television Thursday, when asked about the former president’s comments. “Anyone who’s anyone knows that is potentially catastrophic,” he said.