JPMorgan Chase warned that the era of cheap borrowing is ending, driven by a global breakdown in fiscal discipline and aging demographics that will push interest rates higher for years. The bank's research team highlighted that global public debt has reached $100 trillion, while the IMF put total global debt at $251 trillion in 2025, and noted that the Social Security trust fund faces depletion in roughly seven years and ten months. Meanwhile, a Debt.com survey found that 48% of Americans still live paycheck to paycheck in 2026, down from 69% in 2025, but nearly half remain one missed paycheck from crisis. Against this backdrop, Bitcoin's price has surged from around $280 a decade ago to $64,111, turning a $1,000 investment into approximately $228,877, a return exceeding 22,700%, yet Pew Research shows 63% of U.S. adults still lack confidence in crypto's safety.
JPMorgan Chase & CoJPMorgan warns cheap-money era is over, predicting higher interest rates for years, which is negative for banks' borrowing costs and economic outlook.