WASHINGTON - JPMorgan Chase & Co’s Chief Executive Jamie Dimon told Reuters on Tuesday that if the U.S.
reaches its debt limit, a "potentially catastrophic" event could occur. The nation’s largest lender says it’s preparing for a worst-case scenario if a possible default with the U.S.
credit system impacts the nation’s economy. "This is like the third time we’ve had to do this, it is a potentially catastrophic event," Dimon said.Dimon’s warning comes as congressional members scramble to raise the government's borrowing limit, a day after Senate Republicans blocked consideration of a bill that would have done so.Treasury Secretary Janet Yellen also warned that if the debt limit isn’t raised by Oct.