Why Executives Are Losing Confidence: Deloitte CEO
Joe Echevarria, CEO of professional-services firm Deloitte, told CNBC he’s optimistic about the outlook for the country but said Washington must do more to remove uncertainty.
“We’re pretty positive about the outlook for this country,” Echevarria said. “We’re positive about the outlook for demand. And we added about 17,000 jobs last year.” Net job creation was about half that.
So few executives feel confident, Echevarria said, because of the global economic situation and the stalemate in Washington.
Although the economy has added about 4 million jobsover the past few years, “we’re about 5 million jobs away from full employment,” Echevarria said. “Washington, for starters, is going to have to move away from a stalemate, eliminate uncertainty, deal with regulation and create some certainty for us in business so we can invest and lend.”
That will require both political parties to work more closely together on solutions, Echevarria said. "Until we move from ideology to bipartisan, we won't get forward in America. Job creation and the economy are bipartisan issues. There should be some solutions for those."