Politics

Cramer: Government is 'only one big enough' to fix racial inequality, so CEOs must talk to Trump

Key Points
  • CNBC's Jim Cramer said Wednesday it's "extraordinary" that CEOs looking to fix racial inequality in the U.S. are not talking to the White House.
  • "The federal government is the only one big enough to solve this problem," Cramer said.
  • Cramer said it goes both ways and the White House should also be reaching out to corporate America.
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Jim Cramer: CEOs must work with the federal government to tackle racial inequality

CNBC's Jim Cramer said Wednesday it's "extraordinary" that CEOs looking to fix racial inequality in the U.S. are not talking to the White House.

"The federal government is the only one big enough to solve this problem," Cramer said, questioning how business leaders can think they can go it alone without getting President Donald Trump on board.

"Trump is not uniquely in any of these discussions," Cramer said on "Squawk on the Street." "I struggle to figure out whether that is because he's dangerous to talk about or whether people just feel like they've given up."

Cramer praised the CEOs who have appeared on CNBC in recent days with ideas and programs to address the systemic injustices and opportunity gaps that are facing black Americans and being highlighted by the peaceful protests over the death of George Floyd during an arrest in Minneapolis on May 25.

Mentioning Merck CEO Ken Frazier and Bank of America CEO Brian Moynihan by name, Cramer said business leaders across the nation are saying to themselves: "'I have to change the way I do business.'"

However, American companies don't have the money or the resources to effect real change, Cramer said. "They are just not as big as the federal government. There's a lot of pretend here. And the pretend here is, 'We can solve the problem ourselves.'"

"It would be fantastic if the federal government were to join the effort," Cramer said, but added, "No one seems to say, 'I am ready to meet with the president to get the job done.'"

Cramer said it goes both ways and the White House should also be reaching out to corporate America like it has to try to solve some of the nation's biggest economic and trade challenges.

The "Mad Money" host said that if he were president, he would get CEOs and other thought leaders into a room and say, "Let's do something big" to address the problems creating the racial divide in America.