Ex-CEO Warns US May Be in ‘World of Hurt’ If Federal Government Doesn’t Act Soon

Ex-CEO Warns US May Be in ‘World of Hurt’ If Federal Government Doesn’t Act Soon
Employees work at the checkout counters of a Walmart store in Secaucus, N.J., on Nov. 11, 2015. Lucas Jackson/Reuters
Jack Phillips
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Former Walmart CEO Bill Simon warned that corporate layoffs might have a significant impact on the U.S. economy in the near future.

“It’s crazy right now. We’re stuck in this loop of wage inflation, product inflation, and cost inflation. And it’s just that cycle keeps going. And I think, unfortunately, an inevitable byproduct of some of the Fed’s moves and as the necessary medicine we have to take to kind of cool things down and get the inflation back under control on some of these layoffs that are coming,” Bill Simon told Fox News on Jan. 29.
Jack Phillips
Jack Phillips
Breaking News Reporter
Jack Phillips is a breaking news reporter who covers a range of topics, including politics, U.S., and health news. A father of two, Jack grew up in California's Central Valley. Follow him on X: https://twitter.com/jackphillips5
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