The Biden White House reminded business leaders that capitalism relies on a stable political environment and democracy.
White House chief of staff Jeff Zients told The New Republic’s Greg Sargent:
“The most important thing for American economic growth, progress and good fortune,” Zients told me, describing his pitch to CEOs, “is to have a stable, predictable environment.” Zients said he thought “you might not agree with everything that was done,” but that there was “an opportunity to talk things through and not have any surprises.”
“This is not chaos,” Zients continued, further summarizing his argument. “This is in stark contrast to the previous administration.”
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“There are areas where we may disagree,” Zients said he told them. “But when you think about the pillars of American capitalism, independent institutions like the Federal Reserve, the rule of law, an independent judiciary, and the reputation of the United States and the role of the United States on the world stage, the president firmly believes that in all of this, I think it’s about your Beliefs are consistent.
Fortune 500 CEOs are not backing Trump because they fear his potentially disastrous plans for the U.S. economy.
Trump’s corruption, and his belief that all businesses are as corrupt as him, is backfiring on him. The Biden administration is making a rational argument to U.S. business leaders that the best thing for their future is not a return to Trump’s chaos and bad policies, but a stable and consistent political situation in a democratic society that they can rely on.
Donald Trump is beset by his own corruption and extremism. The Biden team knows what they are doing. Most importantly, business leaders despise instability, so while they may disagree with Joe Biden on some issues, they know their future depends on the United States having stable leadership committed to democracy.
