Why Wall Street’s Spooked About Debt Default Risk

  • While the chances of the U.S. defaulting on its debt are shrinking, risks remain for the banking system and global financial markets.
  • “An actual default would be a disaster,” JPMorgan CEO Jamie Dimon told FOX Business’ Grady Trimble on Capitol Hill Wednesday.
  • While Dimon added a default is unlikely, others say the U.S. markets and the economy are still facing uncertainty.
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