In what Neil Cavuto described as the 17th such meeting, “more than Barack Obama had in his eight years, more than George Bush,” President Trump invited CEOs and and business leaders to the White House to discuss various issues important to the American economy, including taxes, infrastructure, and reducing regulations.
Among those who attended was New York Stock Exchange President Thomas Farley, who was later a guest on Cavuto’s Fox Business show “Coast to Coast.”
Calling the meeting “productive” and the president “on-message,” Farley said any concerns he had involving the various distractions surrounding the Trump Administration had been subdued “quite a bit” after the town hall-style event.
“He focused on reducing regulation, his quest to reduce regulation and to have smarter taxes. There wasn’t a lot of specifics around timing. He did give a few examples, and he talked about now and some of the permitting processes for complicated federal projects that can take 10 years, and he wants to see regulation reduced smartly,” Farley told Cavuto. “And, he was very clear to say he still wants to protect investors, consumers, the everyday public, but see 10-year projects reduced down to a one year permitting process.”
“In this day and age,” Farley added, “where it’s a very competitive global market place, we need to see smarter, sensible taxes, and we need to see smarter, sensible regulation that still protects, in my case, investors, you know investors who use the New York Stock Exchange, and in general the investing public, and the general public. But we can do that without the labyrinth of regulations we put on our businesses, many of whom were here today in the White House.”
When asked if he believed the recent gains in the NYSE had anything t do with Trump’s agenda, Farley answered with a “yes!”
“Yes, unquestionably,” Farley said. “I think that manifests business confidence has improved, consumer confidence has improved since the election. The Dow Jones was all the way down near 17,000 on the night of the election, if you remember the futures really diving, and now it’s up what? 15 percent.”