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President Joe Biden meets with CEOs on virus, economy

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CNBC's Kayla Tausche reports that President Biden met with CEOs today to discuss what could be done about the coronavirus pandemic and, at the same time, shore up the economy. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi

President Joe Biden on Tuesday met with the chief executives of some of the country’s largest businesses in the Oval Office to discuss his $1.9 trillion Covid stimulus plan and the outlook for the American economy.

Among those who met with Biden and Treasury Secretary Janet Yellen were JPMorgan’s Jamie Dimon, Walmart’s Doug McMillon, Gap’s Sonia Syngal, Lowe’s Marvin Ellison and Tom Donohue of the U.S. Chamber of Commerce.

The discussion began with a 15-minute speech from Biden, who stressed the need to combat virus and help economy at same time, a meeting attendee told CNBC’s Kayla Tausche.

The president also hammered home his focus on jobs and his commitment to work on a bipartisan basis, signaling he wasn’t just going to push a stimulus plan through that wasn’t supported.

Each CEO had a chance to speak.

Gap’s Syngal said that since retail is 60% to 70% women, 60% to 70% minority, she sees up close those proportionally being hurt most. Walmart’s McMillon talked about how wage growth is good for America, and how Walmart is working on that.

Lowe’s CEO Ellison also spoke about the importance of jobs with JPMorgan chief Dimon talked about good policy that brings about healthy economic growth.

Biden, shortly before the meeting, said that the group would talk about “the state of the economy, our recovery package. We’re going to talk a little bit — God willing — about infrastructure down the road and also about the minimum wage.”

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