JPM - Government Shutdown Rate Hike Warnings And Jamie Dimon's Warning On Fed: This Week In Economics | Benzinga
As we wrap up another eventful week, let’s take a moment to revisit some of the most notable happenings. The week was rife with speculations around a potential government shutdown, predictions on Federal Reserve actions, and possible contenders for the 2024 general election.
From economists to venture capitalists, experts have been sharing their views on these issues. Here’s a look at the top stories that shaped the discourse.
Peter Schiff’s Take on Government Shutdown
Economist Peter Schiff gave an unusual twist to the impending government shutdown situation. He opined that if all federal taxes were suspended during a shutdown, it would gain widespread public support. Schiff added that any unpaid taxes during this period should be legally forfeited. His comments came amidst rising anxiety over a possible shutdown if lawmakers fail to agree on a funding deal. Read the full article here.
Jamie Dimon’s Warning on Federal Reserve Actions
CEO of JPMorgan Chase & Co, Jamie Dimon, issued a stark warning about the possible fallout if Federal Reserve benchmark interest rates were to soar to 7%. According to Dimon, such a scenario could lead to a financial stress test of epic ...