As the White House and House Democrats try to reach an agreement on a new relief bill that could include a second stimulus check, the CEO of the American multinational retail corporation asked Congress to give more aid to struggling Americans.
According to CNBC, Doug McMillon called on Congress to work together and pass a stimulus deal to help American families and small businesses.
“For both sides, I think what they need to keep in mind is that there are Americans that need them, that doesn’t really care about politics, aren’t really tied up in this election and they just need some help,” he said, in an interview on CNBC’s “Squawk Box.”
He said lawmakers should finally reach an agreement, even if they need to modify it and improve upon it over time.
“Doing nothing is not the first and best option,” he said.
In August Walmart's CEO, said he believed the stimulus check represented the biggest boost in growth for the quarter and that the things that drove sales were: stimulus check first, eating at home second, and thirdly, being at home, and all the things that people wanted to do to make the inside and outside of their homes more pleasant.
Given the size and influence of Walmart, this statement could suggest that a possible economic slowdown is possible (at least in consumer-oriented sectors) if Congress does not plan to deliver another economic stimulus bill soon.
The deadlock over stimulus has created even more uncertainty as retailers prepare for a very different holiday shopping season, as more people shop online and stores seek to avoid crowds and long lines.
Among the changes, Walmart is breaking up its Black Friday deals into three separate events in November, which begin on its website and continue in stores.