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The new US President and his Treasury Secretary Janet Yellen do everything for an upswing: the Biden boom

2021-01-18T10:43:44.815Z


The new president mobilizes all means for a strong upswing. Wall Street is expecting a super comeback - and the days of super profits are over. Biden's team wants to rebuild America's economy and make it fairer.


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Photo: Mark Peterson / Redux / laif

The Golden Ballroom of the "Hotel Du Pont" served as an infection-proof meeting room.

A stage with two desks and a large screen wall replaced the seating area.

Surrounded by imitation Louis Seize splendor,

Joe Biden

(78) and

Kamala Harris

(56)

agreed on

the basic concept with which they want to lead the US economy out of the corona catastrophe.

If they were elected.

The round with the presidential candidate and his vice-president in mid-August was attended by five economists whose theories will now shape American economic policy.

The coup: Connected to Wilmington, Delaware, was also

Janet Yellen

(74), the highly respected ex-head of the US Federal Reserve and the US Advisory Council, a staunch supporter of massive state support programs, which has always been politically with the Democrats, but also appreciated by many Republicans.

About half a year after the secret round in the ballroom and in the midst of the turbulence surrounding the change of power, Yellen is the economic mastermind of the new government, the front woman on whom the hopes of the business world now rest.

As finance minister-designate, she determines the macroeconomic course.

Huge fiscal packages for the future president's “Build back better” plans are pending.

Because it is clear to everyone involved: It has to be different than after the global financial crisis, which the then new team of Barack Obama and his Vice Biden had to overcome.

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Source: spiegel

All news articles on 2021-01-18

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