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They’ve also cooperated significantly on Russia sanctions and cybersecurity threats - something the CEOs themselves readily say is the case. White House officials reject the corporate complaints and say the administration has strong working relationships with the business world in areas including supply chain fixes, fighting Covid and developing infrastructure projects. And they deserve to get slaughtered because they haven’t really accomplished anything except maybe increasing inflation.” This CEO, like nine other executives and business group officials interviewed for this story, spoke on condition they not be named in order to not anger the White House. “Now they are going to get slaughtered in the midterms. “They said everything was going to be different under Biden and they would be more engaged with us, and they weren’t,” said the CEO of one of the country’s largest banks. The finance industry is especially alarmed at the moment given the big losses in stocks and the impact of changing interest rates on their businesses.

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The finger pointing will only grow more intense as the midterm elections get closer, financial markets continue to gyrate on every bit of news on inflation and consumers continue to spend down their Covid-era savings to keep up with higher prices.Īnd some top executives, especially in the banking sector, are now complaining that while Biden pays lip service to caring about their views on how to fix things, he doesn’t actually listen to them or solicit their input. Corporate executives and business groups blame Biden for - among other things - pumping too much stimulus into the system at the wrong time, not moving fast enough on supply chain fixes or eliminating more Trump-era tariffs.