Futures fall after Fed's sobering outlook, fears of second virus wave
Thursday, 11 June 2020 U.S. stock futures extended declines on Thursday, a day after the Federal Reserve's economic forecast confirmed that the pain from the coronavirus outbreak will be felt for years, with investors also nervous about a second wave of infections.
Governors of U.S. states that are COVID-19 hotspots are pressing ahead to reopen businesses and ease restrictions despite mounting fears over a second wave of infections. This report produced by Zachary Goelman.
Massachusetts senator and failed Presidential candidate Elizabeth Warren lobbied Joe Biden to become his treasury secretary. In a humiliating snub heard around the political world Biden chose former FED chair Janet Yellen over Warren as his Treasury Secretary. Chris Cillizza of CNN said there are several reasons Warren will never be America's Treasury Secretary. Warren in the Cabinet would allow Mass. GOP Gov. Charlie Baker to appoint a temporary replacement for her in the Senate.
On Tuesday, global stocks jumped after Donald Trump authorized President-elect Joe Biden's presidential transition process to begin. On Monday, Trump took a significant step toward acknowledging the election result. However, Business Insider reports, he is still convinced he and his allies can continue to contest the outcome. Another key factor driving the boost is Biden's planned nomination for former Federal Reserve chair Janet Yellen as Treasury Secretary.
U.S. stocks started the week on an upswing after another drug company posted positive clinical trial results for a COVID-19 vaccine and reports surfaced that President-Elect Joe Biden plans to nominate former Federal Reserve Chairman Janet Yellen to be the next Treasury secretary. Conway G. Gittens reports.
President-elect Joe Biden is planning to nominate Janet Yellen to head the Treasury Department. Business Insider reports if the US Senate confirms Yellen, she will be the first woman to hold the job. Yellen served as Fed Chair during President Barack Obama's second term, from 2014 to 2017. President Donald Trump replaced her with Jerome Powell as head of the Fed.
Six in ten Americans would consider moving to a less populated area in order to better protect themselves against the second wave of COVID-19 or another pandemic. The study of 2,000 Americans examined..