Europe

Biden unveils diverse economic team as challenges to economy grow

4th December 2020

And as director of the Office of Management and Budget, Biden plans to nominate Neera Tanden, president of the liberal think tank Center for American Progress and a former senior policy adviser to both Barack Obama and Hillary Clinton’s presidential campaigns. Tanden is Indian American. Biden also plans to name longtime economic aides Heather Boushey […]

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Biden top economic adviser facing accusations of mismanagement, verbal abuse

3rd December 2020

The Biden transition team declined to comment or make Boushey available. But Dinetta Parrott, who reported directly to Boushey as Equitable Growth’s director of development from 2017 to 2020 before leaving for the Brookings Institution, said the criticisms of Boushey don’t match her experience. “I just don’t think it’s an accurate depiction,” she told POLITICO. […]

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Biden backs up Tanden as Republicans attack her tweets

2nd December 2020

You can’t please everyone … especially when you’re putting together a team to run the federal government. POLITICO’s Megan Cassella looks at why Biden’s promise to have a cabinet that “looks like America” hasn’t turned out the way advocates had hoped. Sen. John Cornyn (R-Texas), one of Tanden’s more outspoken Republican opponents, described her this […]

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Deese to be Biden’s top White House economic adviser

1st December 2020

Some progressive groups have warned against hiring Deese, 42, to a White House post, given his current job in the financial sector. “We are concerned, as our name suggests, with revolving door hires,” Jeff Hauser, who founded the Revolving Door Project to scrutinize executive branch appointees, told POLITICO last week. “And Brian Deese’s [relationship] to […]

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How climate change could spark the next home mortgage disaster

30th November 2020

“Anybody who believes in science knows that global warming is only going to cause increases in future risks for major storms,” said Stevens, the former Freddie Mac official, who also was president of the Mortgage Bankers Association trade organization. “I think the key is, what’s predictive here?” Making those decisions would put the mortgage giants […]

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What the Yellen choice means for Biden and the economy

26th November 2020

Covid cases are soaring, businesses are staring at a gloomy winter, millions of Americans are struggling and Congress … well, they’re on recess. POLITICO’s Sarah Ferris breaks down why there’s still no deal on another round of coronavirus relief. “It is remarkable to think of the depth and breadth of the respect she commands nationally […]

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Trump strips Biden’s options to boost the economy

25th November 2020

Covid cases are soaring, businesses are staring at a gloomy winter, millions of Americans are struggling and Congress … well, they’re on recess. POLITICO’s Sarah Ferris breaks down why there’s still no deal on another round of coronavirus relief. Mnuchin, for his part, defended the move as adhering to congressional intent that the programs stop […]

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U.S. consumer confidence tumbles as virus spreads

24th November 2020

Consumer confidence is closely watched for signals it can provide of how willing households are to spend. Consumer spending accounts for 70 percent of economic activity in the U.S. “We think the sharp rise in positive coronavirus cases nationwide, which has prompted new restrictions and shutdowns in many states, has led consumers to be more […]

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Biden’s big challenge: A growing racial wealth gap

18th November 2020

Black Lives Matter leaders turned out the vote and helped secure President-elect Joe Biden’s victory. Now they want a piece of the political action. POLITICO’s Maya King reports on why that might be tough — especially under a Republican-controlled Senate. “Had it not been for Black people it would have been difficult for [Biden] to […]

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The hangover awaiting Biden: Deep wounds from Covid-19

11th November 2020

The environment could force the Biden team to wait for the Federal Reserve to lead the way just as the central bank did in the past decade — an approach that could again make investors richer, but only slowly help the types of workers Biden wants to support most. The Biden win and vaccine news […]

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