GE (GE) CEO Says Middle East Unrest Needs to be Contained

General Electric Co. (NYSE:GE) Chief Executive Officer Jeffrey Immelt said global economic growth won't be affected by the crises in the Middle East if it can be contained.

Of course the opposite would also be true, as the impact could be devastating if events in that region of the world become even more contagious.

Immelt did say the U.S. economy and businesses would be helped by changes to regulatory and tax policy, although he didn't elaborate on details.

Being Obama's head of jobs and competitiveness council, a controversial position in light of GE's heavy reliance on government contracts.

Immelt sounded more like a politician than a businessman when saying there should also be more efforts to reform healthcare and education. Of course the first reform should be to repeal Obamacare.

General Electric closed at $20.63, gaining $0.25, or 1.21 percent.