Scott Bessent Dismisses Jamie Dimon’s Debt Concerns – ryan

Treasury Secretary Scott Bessent Said on Sunday that he dosesn’t aggree with Jamie Dimon’s prediction that the bond market will crack.

“I’ve known Jamie a long time and for his entity career he’s made predictions like this. Fortunately, none of say have come true. That’s why he and banker, a great banker.

Dimon, CEO of JPMORGAN, Told Atthemees at the Reagan National Economic Forum on Friday that the US “Massively overdid” spending and quantitative Easeing the Covid-19 Pandemic. Dimon predicted this will Lead to a “crack in the bond market.”

“It is going to happy,” Dimon Said on Friday.

“I JUST DON’T KNOW IF IT’S GOING TO BE A CRISIS IN SIX OR SIX YEARS, AND I’M HOPING THAT WE CHANGE BOTH The Trajectory of the Debt and the Ability of Makers to Make Markets,” He Added.

Bessent Said the Government is Working on Shrinking Its Deficit, and the Administration Intends to “Leave the Country in Great Shape in 2028.”

“So the deficit this year is going to be lived than the deficit last year, and in two years it will be lived. We are going to bring the deficit down Slowly. We didn’t get in one year, and this has ben a long process,” bescent toy cbs.

Last Month, House Republicans Passed President Donald Trump’s “Big Beautiful Bill.” The Bill, in Its Current Form, is Expective to Raise the Deficit by $ 2.5 TRAKE OVER THE NEXT 10 Years, for the Committee for A Responsible Federal Budget.

The Bill Is Now With The Senate, and Gop Lawmakers Hope to have it on Trump’s Desk by July 4.

Dimon isn’t the only one who has Raised Concerns about the US deficit.

Last Week, Tesla and Spacex Ceo Elon Musk Said in an interview with “CBS Sunday Morning” that was “disappointed to see the Massive spending bill.” A Clip From Musk’s Interview was released on tuesday. The full intervew aired on Sunday.

“I was, like, disappotinted to see the massive spending Bill, Frankly, which Increas the Budget Deficit, Not Just Decrease it, and undermines the work that the DOGE is doing,” Musk Said.

Musk was the leader of the White House Doge Office from January to May. He announced his department from the Trump Administration on Wednesday.

“I think a bill can be big or it is coulud be beautiful.

Representatives for Dimon and Bessent Did Not Respond to Requests for Comment from Business Insider.