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Photo: Erin Schaff-Pool/Getty Images

Leading business groups condemned President Trump following the violence at the Capitol, with the National Association of Manufacturers urging Vice President Mike Pence to invoke the 25th Amendment to remove Trump and "preserve democracy."

Why it matters: Big business is usually friendly territory for President Trump, who falsely claims the election was "stolen" from him and encouraged protestors to march to the Capitol building. But folks are speaking out ahead of President-elect Joe Biden's tenure and insisting the violence cease.

  • NAM last year awarded Ivanka Trump with its Alexander Hamilton Award for Extraordinary Support of Manufacturing in America.
  • It now writes that the president has been "cheered on by members of his own party, adding fuel to the distrust that has enflamed violent anger."
  • Pence on Wednesday broke ranks with Trump by stating that he would not exercise unilateral authority over certifying the election results.

What they're saying: Other business leaders are making known their disgust with the scene on Capitol Hill.

  • Citi CEO Michael Corbat wrote that he's "disgusted by the actions of those who have stormed the U.S. Capitol" and that he "[prays] this situation can be resolved without further conflict."
  • Business Roundtable wrote: "The chaos unfolding in the nation's capital is the result of unlawful efforts to overturn the legitimate results of a democratic election. The country deserves better. Business Roundtable calls on the President and all relevant officials to put an end to the chaos and to facilitate the peaceful transition of power."
  • Salesforce CEO Marc Benioff wrote: "Our leaders must call for peace and unity now. There is no room for violence in our democracy. May the One who brings peace bring peace to our country."
  • Blackstone CEO Stephen Schwarzman: "The insurrection that followed the President’s remarks today is appalling and an affront to the democratic values we hold dear as Americans. I am shocked and horrified by this mob’s attempt to undermine our constitution. As I said in November, the outcome of the election is very clear and there must be a peaceful transition of power."
  • Goldman Sachs CEO David Soloman: "For years, our democracy has built a reservoir of goodwill around the world that brings important benefits for our citizens. Recently, we have squandered that goodwill at an alarming pace, and today’s attack on the U.S. Capitol does further damage. It’s time for all Americans to come together and move forward with a peaceful transition of power. We have to begin reinvesting in our democracy and rebuilding the institutions that have made America an exceptional nation."

Go deeper

Off the Rails

Episode 1: A premeditated lie lit the fire

Photo illustration: Sarah Grillo/Axios. Photo: Chip Somodevilla/Getty Images

Beginning on election night 2020 and continuing through his final days in office, Donald Trump unraveled and dragged America with him, to the point that his followers sacked the U.S. Capitol with two weeks left in his term. This Axios series takes you inside the collapse of a president.

Episode 1: Trump’s refusal to believe the election results was premeditated. He had heard about the “red mirage” — the likelihood that early vote counts would tip more Republican than the final tallies — and he decided to exploit it.

"Jared, you call the Murdochs! Jason, you call Sammon and Hemmer!”

Off the Rails

Episode 6: Last stand in Georgia

Photo illustration: Aïda Amer/Axios. Photo: Drew Angerer, Raymond Boyd/Getty Images

Beginning on election night 2020 and continuing through his final days in office, Donald Trump unraveled and dragged America with him, to the point that his followers sacked the U.S. Capitol with two weeks left in his term. Axios takes you inside the collapse of a president with a special series.

Episode 6: Georgia had not backed a Democratic presidential candidate since 1992 and Donald Trump's defeat in this Deep South stronghold, and his reaction to that loss, would help cost Republicans the U.S. Senate as well. Georgia was Trump's last stand.

On Air Force One, President Trump was in a mood. He had been clear he did not want to return to Georgia, and yet somehow he'd been conscripted into another rally on the night of Jan. 4.

Fed chair says low interest rates aren't driving stock market prices

Jerome Powell. Photo: ANDREW CABALLERO-REYNOLDS / Getty Images

Federal Reserve chairman Jerome Powell told reporters on Wednesday that rock-bottom interest rates aren't playing a role in driving stock prices higher, while noting that vulnerabilities to the financial system are "moderate."

Why it matters: The statement comes amid unshakeable stock prices and a Reddit-fueled market frenzy — prompting widespread fears of a bubble and the role monetary policy has played in that.