Biden to Meet With CEOs of Walmart, CVS on Holiday Supply-Chain Issues
(Bloomberg) — President Joe Biden plans to meet Monday with the CEOs of Walmart Inc, CVS Health Corp and other retailers as part of his efforts to tackle supply chain bottlenecks and inflation ahead of Christmas.
The session, which coincides with this weekend’s start to the holiday shopping season, will include executives from the grocery, electronics, and pharmacy sectors, and address efforts to make sure shelves are stocked during the busy holiday shopping season, according to a White House official.
The CEOs of Best Buy, Food Lion, Samsung North America, Qurate Retail Group, Todos Supermarket, Etsy, Mattel and Kroger are scheduled to attend in person, while Walmart CEO Doug McMillon and CVS CEO Karen Lynch are among those planning to attend remotely, the official said.
Following the meeting, Biden is scheduled to deliver remarks on White House efforts to curb supply chain disruptions and lower the cost of goods, according to a White House statement.
With his approval ratings flagging, the White House has been trying to show both empathy and action on Biden’s part with regard to inflation and its impact on American pocketbooks as the U.S. enters its holiday season.
The U.S. consumer price index, a broad survey of inflation, increased 6.2% last month from October 2020, the fastest annual pace since 1990. While many economists believe the abnormal inflation is due to unprecedented consumer demand following the pandemic shutdowns, Republicans have blamed Biden and his economic policies.
Read more: How Supply Chains Broke, Sparking Global Shortages
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