World News – USA – Biden reveals economic team at a critical moment for recovery

WILMINGTON, Del. (AP) â ???? President-elect Joe Biden revealed his economic team on Tuesday amid growing concerns over the pace of the country’s economic recovery as governments reinstate restrictions to contain the growing coronavirus pandemic.

Biden appeared at a theater in downtown Wilmington, Delaware, walking cautiously in a black walking shoe he has been wearing since breaking his right foot playing with one of his dogs over the weekend. The president-elect broke two small bones in the middle of his right foot, according to Biden’s doctor Kevin O’Connor.

While the breach is not severe, it does re-tighten the review of Biden’s age as he recently turned 78 and will be the oldest president to ever take office when inaugurated. When asked about his foot when he arrived at the theater, Biden simply said, “Well, thank you for asking. â ????

Biden has assembled a team of liberal advisors who have long made the country’s workers and government a priority to eradicate economic inequality as unemployment remains high and the COVID-19 outbreak bridges the gap between average Americans and Americans enlarged nation are doing best. The virus that infected more than 268. Killed 000 Americans has resurfaced across the country amid vacation travel and colder weather sending people indoors.

Janet Yellen, announced Monday as Biden’s candidate for the Treasury Department, served as chair of the Federal Reserve from 2014 to 2018, when she placed more emphasis on maximizing employment and less on price than past Fed chairmen on inflation. Biden also appointed Cecilia Rouse to chair his Council of Economic Advisers, and Heather Boushey and Jared Bernstein to serve on the council.

Everyone is very much in favor of more government spending to stimulate growth. what Biden hugged on the campaign? although their proposals would be difficult to take up in Congress, leading to a new round of economic relief for months.

The prospects for a large-scale deal could depend on the outcome of the runoff elections for both seats in the Georgia Senate. Victories in either case would put the Democrats in control of the Chamber. and his agenda – by the slightest margin, but Republican victories will quickly put Biden and his team to the test of negotiating the aisle to fulfill their promised relief to Americans.

The event comes a day after Federal Reserve Chairman Jerome Powell said the pace of improvement in the economy has slowed in recent months and the future outlook remains extremely uncertain. â ????

We have no time to lose to overcome the economic crisis and to rebuild our economy better. This team will be. . .

In remarks released by the Fed on Monday, Powell said the spike in new COVID-19 cases in both the US and overseas was worrying and could prove challenging for the next several months. A full economic recovery is unlikely until people are confident that it is safe to re-engage in a wide range of activities. â ????

Steven Mnuchin, Treasury Secretary of President Donald Trump, announced last month that beyond the Fed’s objections, he would not extend any five loan programs jointly operated by the Fed and the Treasury Department, which are expected in December expires. 31, including stopovers on corporate and municipal debt and buying loans for small business and nonprofits.

If Yellen is approved by the Senate, she will be the first woman to serve as Treasury Secretary after becoming the first woman to preside over the Fed. Rouse would be the first black woman to lead the CEA in its 74th anniversary. And Neera Tanden, Biden’s election as director of the Office of Management and Budget, would be the first South Asian American in the job.

Biden also selected Wally Adeyemo to be Yellen’s deputy, which would make him the black’s first deputy finance minister. Rouse, Tanden and Adeyemo all have to be ratified by the Senate, and Tanden in particular is already heavily criticized by Republicans.

Some Republicans have postponed Tanden’s announcement after years of attacking GOP lawmakers on social media. and some doubted that she would be able to get confirmation.

Joe Biden, Neera Tanden, Janet Yellen, United States Senate