U.S. President Joe Biden speaks about his Investing in America agenda at the Wilmington Convention Center in Wilmington, North Carolina, on May 2, 2024.
Almond Ngan | AFP | Getty Images
President Joe Biden met on Tuesday with a number of top executives from various industries, some of whom were targets of his regulatory agenda.
The guest list included Scott Kirby, CEO of United Airlines, Jane Fraser, CEO of Citi, Roger Altman, Founder and Senior Chairman of Evercore, Anthony Capuano, CEO of Marriott International, Revathi Advaithi, CEO of Flex, Brendan Bechtel, CEO of Bechtel Group, Corning CEO Wendell Weeks, and former Xerox CEO Ursula Burns, who is currently chairwoman of consulting firm Teneo, according to a White House official.
Biden was joined by Treasury Secretary Janet Yellen, Commerce Secretary Gina Raimondo, National Economic Adviser Lael Brainard, Chief of Staff Jeff Zients and several other Cabinet members, the official added.
According to a summary of the White House meeting, Biden and leaders discussed the president’s investment agenda, international alliances and creating “strong and stable conditions for businesses and workers.”
It’s not the first time the president has called for a meeting with influential business leaders, as both the White House and the private sector have had to navigate the economy’s shaky post-pandemic recovery in recent years. Biden also hosted a group of senior leaders in October.
Tuesday’s meeting offered Biden a chance to meet with executives from some of the industries he has tried to crack down on during his time in office.
Months into his first term, Biden issued an executive order that laid out an aggressive antitrust approach targeting large companies in industries such as airlines, banking, cable, food, pharmaceuticals and technology.
The Federal Trade Commission and the Justice Department’s Antitrust Division have been at the forefront of implementing this agenda with a series of lawsuits challenging proposed mergers and other regulatory actions.
And as part of a broader attack on what Biden calls “junk fees,” the White House has issued rules banning certain fees from airlines and credit card companies.
Beyond politics, Biden has ratcheted up his rhetoric against companies, particularly to blame them for stubborn inflation and other persistent economic woes that have dimmed consumers’ prospects for the economy’s recovery.
“For any company that has not lowered prices again, even as inflation has fallen and supply chains have been rebuilt, it is time to stop the price gouging,” Biden said in November. “Give the American consumer a break.”
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2024-05-07 23:51:10
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