Jamie Dimon urges Congress to eliminate debt ceiling.
JPMorgan Chase CEO Jamie Dimon urged moderate House Democrats to abolish the debt ceiling during a closed-door lunch with the New Democrat Coalition, describing it as an "unmitigated disaster." Dimon also discussed immigration reform, housing, and the banking crisis. He expressed optimism about the US economy on the world stage and said the country should focus on reducing worker shortages by allowing more merit-based and seasonal immigration. Federal Reserve Chair Jerome Powell previously told the New Democrat Coalition he has ideas on how to reform the debt ceiling.
