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President Joe Biden will ship remarks on the U.S. financial system Thursday and meet with a small group of CEOs to “receive an update on economic conditions across key sectors and industries,” based on the White House.
Two chief executives are scheduled to attend in particular person: Corning CEO Wendell Weeks and Marriott International CEO Anthony Capuano.
Three different company leaders will be part of the assembly by video name: Bank of American CEO Brian Moynihan, Thasunda Brown Duckett, who leads the retirement fund large TIAA, and Punit Renjen, the chief govt of Deloitte.
Several administration officers will even be on the occasion: Treasury Secretary Janet Yellen, Commerce Secretary Gina Raimondo, National Economic Council Director Brian Deese and Cecelia Rouse, chair of the White House Council of Economic Advisers.
The assembly comes because the Biden White House is making an attempt very onerous to persuade Americans that the U.S. financial system is just not sliding right into a recession.
As increasingly more financial knowledge emerges that factors to a slowdown, Biden is happening the offensive to argue that the U.S. financial system is wholesome.
Earlier within the day Thursday, Biden addressed the query of a recession by pointing to the low unemployment price and the robust progress of producing jobs over the previous few years.
“That doesn’t sound like a recession to me,” he mentioned in a short speech on the White House.