U.S. Economic News
November 24, 2020
U.S. Economic Indicators
The Conference Board Consumer Confidence Index fell from 101.4 (revised) in October to 96.1 in November. Consumers’ assessment of current business and labor market conditions and near-term expectations for jobs, business conditions, and financial prospects declined. Conference Board Report
U.S. News
The Wall Street Journal reports that former Fed chair Janet Yellen, chosen by President-elect Joe Biden to be the next Treasury Secretary, will face the challenge of building broad consensus on economic policy as the economic recovery loses momentum and additional stimulus from Congress remains uncertain. Yellen has said that pulling back on spending too abruptly could lead to a sluggish recovery like the one that followed the financial crisis, and has argued that risks associated with borrowing to support the recovery remain low so long as interest rates and inflation stay muted. WSJ