The former president and CEO of Walmart U.S., Bill Simon, argued inflation is driving “The Great Resignation,” and workers leaving their jobs is “unsettling” for businesses.
“While we’re struggling with inflation and supply chain issues…our leaders are meeting on things like voting rights bills, things that are not relevant to the day-to-day lives of Americans,” Simon said on “Cavuto: Coast to Coast,” Thursday.
Simon’s comments come as a new survey from The Conference Board shows 55 percent of U.S. CEOs expect inflation to continue until at least mid-2023. Most CEOs say labor issues are their biggest concerns, according to the survey.
“It is a perfect storm,” Simon told FOX Business. “[U.S. leaders] need to sort of push all those other things aside and understand the pain that’s happening in America today.”
Meanwhile, the former Walmart CEO noted business leaders are faced with “very difficult decisions” when attempting to operate their company’s day-to-day. Simon added CEOs are faced with “uncertainties” such as coronavirus guidelines and vaccine mandates.
“The federal government…is placing the burden on businesses, and that’s making it even more difficult,” he remarked.
Simon predicted Americans will experience inflation throughout 2022 and said the federal government needs to “focus” on finding a solution to the supply chain issue.
He suggested the federal government work with the Defense Logistics Agency to potentially help “untangle” the supply chain issues in the “short run.”
“It’s sort of like a tangled wire. You’re not going to solve inflation until you solve the supply chain issues,” he concluded. “You’re not going to solve [the] supply chain [issues] until we finally get enough people to work through COVID or figure out how to detangle COVID.”