JPMorgan Chase CEO Jamie Dimon warned of an impending "crack" in the US bond market due to rising government debt, fueled by Trump's budget bill. This follows Moody's downgrade of the US credit rating. Dimon urged the administration to address the unsustainable debt trajectory and suggested regulatory changes to bolster bank capacity for bond trading. His concerns mirror those of Goldman Sachs, highlighting growing Wall Street unease about the increasing federal deficit and its impact on long-term interest rates and economic growth. Dimon also advocated for increasing taxes on carried interest.

Prepared by Christopher Adams and reviewed by editorial team.