US Predicted to Face Critical Financial Crisis in 2024: JP Morgan CEO
TEHRAN (Tasnim) – Amid the US economy’s public debt exceeding the $34 trillion mark, the chief executive of JP Morgan has predicted a major financial crisis in 2024.
Specifically, Dimon noted that the country is facing a global market “rebellion” amid its growing debt numbers.
Moreover, he is not alone. Bank of America CEO Brian Moynihan also has noted the need to take control of what is an undeniable problem. The unsettling growth in US debt has continued amid the growing BRICS economic alliance, watcher.guru.com reported.
Indeed, the collective has continually professed its desire to lessen the international prevalence of the greenback and utilize other currencies for global trade. According to the warning put forth by Dimon and others, the US could be facing the real risk of that reality.
Across both sides of the political aisle, the US government spending has gotten out of control in a way that it faced a government shutdown in 2023 after reaching a $33 trillion debt ceiling. With 2024 firmly upon us, that number has already grown more than $1 trillion, and many financial experts are starting to sound the alarms.
This concern is not native to Dimon alone, as many others have expressed worry regarding the very real issue that US Debt has become. Similarly, Brian Moynihan, the CEO of Bank of America says that the issue must be addressed. “You can either admire the problem or do something about it,” he said.
