J.P. Morgan's Dimon: U.S. Default Would Cause 'Catastrophe'

NEW YORK—The head of J.P. Morgan Chase & Co. issued the loudest warning yet from Wall Street to U.S. politicians about the economic impact of the stalemate over raising the U.S. debt ceiling.

"It's imperative that that debt ceiling be fixed and it's imperative the United States shows fiscal discipline," James Dimon, the chairman and chief executive of the nation's largest bank by stock-market value, said. "They're both important not just for the health of the ...

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