Business leaders speaking with Pres. Biden as he interviews them:
- No doubt that we expect see gross lower compared to last year
- applaud the desire to get the CHIPS act to his desk
Brian Moynihan of Bank of America says
- consumers are continuing to spend money
- balances are moving higher and have money. Balances much higher than in the pandemic
- consumers are traveling vs. buying goods
- consumers are worried about inflation
- consumers are concerned about rent increases
Marriott CEO:
- Seeing improvement in business travel
- Seeing higher savings rate
- Opening of borders and easing on travel restrictions
- Eliminating inbound testing requirements
- Demand for in-person training is rising
One of the issues for the President, is people don't listen to him. So he is reversing the tables, and interviewing the business leaders in the hopes the people will listen to them.