JPMorgan Chase CEO Jamie Dimon expressed his concerns about the rising US national debt on Monday, saying it is a “significant issue” and could lead to serious challenges in the bond market. Speaking on Fox Business’s “Mornings with Maria,” Dimon warned that rising government spending could cause volatility in the markets. “If people lose confidence in the American dollar, we could see a serious widening of credit spreads, and that would be a serious problem,” Dimon said. “This would affect everyone trying to raise money, from small businesses to high-yield debt, leveraged loans, and even real estate finance. So volatility in the bond market is something to be taken seriously.” Dimon’s remarks come amidst recent bond market volatility caused by shifting US economic policies. A prominent figure in corporate America, Dimon has frequently been consulted by US administrations during times of crisis. Although his name was mentioned for top economic roles such as Treasury Secretary during the 2024 presidential elections, he chose to stay at JPMorgan.
Dimon, who has been at the helm of JPMorgan for over 19 years, has surpassed many of his colleagues. Responding to questions about his potential successor, Dimon stated that he would hand over the reins “in the next few years,” adding that he could remain in a leadership position afterward. “The right time for a change of leadership will come, and then I could remain as chairman or CEO for a few more years… I love what I do,” he said.
