Politics

White House to invite Wall Street executives to meet over coronavirus concerns

Key Points
  • The White House is inviting Wall Street executives to discuss the response to the new coronavirus outbreak, an administration official told CNBC.
  • President Donald Trump is expected to attend the meeting, which is scheduled to be held Wednesday.
  • White House aides are set to meet with Trump and present economic stimulus ideas to him after he returns to Washington, D.C., from Florida later Monday afternoon.
U.S. President Donald Trump speaks with Larry Kudlow, director of the U.S. National Economic Council, right, in the Roosevelt Room of the White House in Washington, D.C.
Alex Edelman | Bloomberg | Getty Images

The White House is inviting Wall Street executives to discuss the response to the new coronavirus outbreak, an administration official told CNBC.

President Donald Trump is expected to attend the meeting, which is scheduled to be held Wednesday. Invitations were being sent out as of Monday afternoon, the official told CNBC.

The Washington Post first reported the gathering.

The meeting was arranged amid a punishing market rout spurred by fears about the impact of the coronavirus. The plummeting S&P index forced a trading halt early in Monday's session, as coronavirus fears gripped global industries and plunging oil prices deepened the strain on the market.

The virus has infected more than 100,000 people around the world and killed at least 3,892, according to data compiled by Johns Hopkins University.

CNBC's Wilfred Frost reported later Monday that the meeting will take place at 3 p.m. ET on Wednesday, and that at least seven of the largest banks in the U.S. have been invited.

The Trump administration's coronavirus task force, led by Vice President Mike Pence, has scrambled to respond as more Americans test positive for the disease. White House aides are set to meet with Trump and present economic stimulus ideas to him after he returns to Washington, D.C., from Florida later Monday afternoon.

On Tuesday, Treasury Secretary Steven Mnuchin and National Economic Council Director Larry Kudlow are set to brief Senate Republicans at a lunch event on the administration's economic options, NBC News reported, citing a senior GOP leadership aide.

It was not immediately clear which Wall Street big wigs were invited to the Wednesday meeting. But one key figure in the world of finance is unlikely to attend: JPMorgan Chase CEO Jamie Dimon, who underwent an unplanned heart surgery late last week and is currently in recovery.

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White House invites Wall Street executives to discuss coronavirus impact