Is the US debt ceiling coming again? JPMorgan Chase warns that US debt may collapse, Bessant: The United States will never default

As the deadline for the U.S. debt ceiling approaches, JPMorgan CEO Jamie Dimon warns that the U.S. bond market may be "about to collapse," but Treasury Secretary Bessent firmly states that the United States will "never default".

Bessent: The United States will "never default"

U.S. Treasury Secretary Scott Bessent, in an interview with CBS's "Face the Nation" over the weekend, discussed the U.S. debt ceiling and firmly stated:

"We are on the alert line, but we will absolutely not hit the wall."

Republican congressional leaders have attached provisions to raise the debt ceiling to former President Trump's tax and spending bill, which could impact the debt default issue through complex negotiations, and the U.S. Senate will review the bill this week.

Bessent refused to disclose the final deadline during the interview, but he had previously stated last month that if the debt ceiling is not raised or suspended by August, the United States is likely to exhaust its borrowing limits.

According to Bloomberg, most Wall Street analysts and private forecasters believe the deadline will be between late August and mid-October.

Refuting JPMorgan CEO Dimon, the U.S. bond market is fine

Bessent also refuted JPMorgan CEO Jamie Dimon's warning that the bond market is "about to collapse". Dimon stated last Friday at the Reagan National Economic Forum that the bond market would collapse after the U.S. government and Federal Reserve's "excessive" spending and quantitative easing policies.

Bessent said:

"I've known Jamie for a long time, and throughout his entire career, he has made such predictions. Fortunately, these prophecies have not come true. That is why he is a great banker. He always strives to look ahead."

Bessent also promised:

"We will gradually reduce the deficit. This is a long process, so our goal is to reduce it over the next four years."