WASHINGTON — H. Lee Scott, president and chief executive officer of Wal-Mart Stores Inc., said Sunday he expects the recession to present challenges in the short term as consumers scale back purchases amidst intensifying job insecurity.
Participating in a roundtable discussion on NBC’s “Meet the Press” with new host David Gregory, Scott addressed a wide range of economic issues, ranging from changing consumer buying patterns, to government intervention in the home mortgage market, to a multibillion-dollar economic stimulus package that President-elect Barack Obama is preparing with Democratic leaders and is expected to include a massive job works program and tax relief for the middle class.
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