White House officials reject the corporate complaints and say the administration has strong working relationships with the business world
Corporate America, especially Wall Street, remains a juicy target for Democrats given the progressive trend in the party and dim public views on things like massive CEO pay packages and stock buy-back programs. | Michael M. Santiago/Getty ImagesNEW YORK — Wall Street is in chaos, with the plunge in stocks vaporizing trillions in investor wealth this year. Gas prices are surging.
Corporate executives and business groups blame Biden for — among other things — pumping too much stimulus into the system at the wrong time, not moving fast enough on supply chain fixes or eliminating more Trump-era tariffs. And some top executives, especially in the banking sector, are now complaining that while Biden pays lip service to caring about their views on how to fix things, he doesn’t actually listen to them or solicit their input. The finance industry is especially alarmed at the moment given the big losses in stocks and the impact of changing interest rates on their businesses.
in areas including supply chain fixes, fighting Covid and developing infrastructure projects. They’ve also cooperated significantly on Russia sanctions and cybersecurity threats — something the CEOs themselves readily say is the case.
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