WASHINGTON (TN) — Target CEO Brian Cornell on Thursday rejected Vice President Kamala Harris’s notion that major retailers are “taking advantage” of American wallets.
Harris announced last week that her economic program would revolve around combating “price gouging,” a general term that refers to price increases for consumers following a supply disruption, such as the result of a natural disaster.
During an appearance on CNBC, Cornell said his company is more focused on value than ever before.
“We’ve cut prices on 5,000 items,” Cornell said. “Value is in our blood.”
Cornell went on to say that retail is a very competitive industry, which is why many large companies operate on thin margins.
“We’re in a penny business,” he said. “It’s a very competitive space and we offer the value that consumers are looking for.”
This stance comes as other leading Democrats are also voicing their opinions on Harris’ proposed economic policies. New York Governor Kathy Hochul on Wednesday praised President Joe Biden and Vice President Kamala Harris for creating a “strong economy” and encouraged the latter to continue to push her economic policies in the White House.
“I would say continue the strong actions that the Biden-Harris administration has already taken,” she said. “All indicators suggest that we have a strong economy that is recovering, inflation is falling, interest rates are falling and jobs will continue to grow.”
Then she changed her mind and encouraged Harris to also tell Americans who are “struggling with economic problems” that “help is on the way.”
“We know what we are doing, we have experience, we can do this,” said Governor Hochul.
In a non-scientific poll of National Desk readers, only 18 percent said they would trust Harris to manage the economy and the southern border, while former President Donald Trump received 82 percent of the vote.
Follow Jackson Walker on X at @_jlwalker_ for the latest national news. Have a news tip? Send it to [email protected].
