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Jamie Dimon, CEO of JPMorgan Chase & Co., issued a strong warning on Friday, May 30, 2025, stating that a “crack in the bond market” is inevitable and that regulators will “panic” when it occurs.
Speaking at the Reagan National Economic Forum, Dimon attributed this impending “crack” to what he views as excessive spending by the U.S. government and quantitative easing by the Federal Reserve. He emphasized that while he doesn’t know if the crisis will manifest in “six months or six years,” he is certain it will happen.
Dimon has been a vocal critic of current fiscal and monetary policies, suggesting that the “government and Fed have massively overdid” stimulus, creating unsustainable imbalances in the market. He also pointed to what he considers “deep flaws” in current banking regulations, such as the supplementary leverage ratio, which he believes limit banks’ ability to effectively intermediate in bond markets.
Despite his dire warning to regulators, Dimon stated that JPMorgan Chase will be prepared. “I’m not going to panic,” he said, “We’ll be fine. We’ll probably make more money.” This is not the first time Dimon has expressed concerns about the bond market; he made similar predictions last month about a “kerfuffle” in the Treasury market that would prompt Fed intervention.

Video courtesy of Interactive Brokershome

Video courtesy of Interactive Brokers