Biden taps Janet Yellen as Treasury secretary

in #news3 years ago

US President-elect Joe Biden on Monday formally tapped ex-Federal Reserve chair Janet Yellen to lead the Treasury, as he named officials to try to revitalize the world's largest economy.

The United States is struggling with a massive Covid-19 outbreak that's caused tens of millions of layoffs while sharply slowing annualized growth, and with cases surging again and Congress deadlocked over more aid.

If confirmed by the Senate, Yellen, 74, will be the first female Treasury head in its history, and likely be tasked with breaking the deadlock over aid in Washington, should lawmakers not come to an agreement before Biden's January inauguration.

Brazil's biggest cities, Sao Paulo and Rio de Janeiro, both elected experienced centre-right mayors -- incumbent Bruno Covas and returning veteran Eduardo Paes, respectively -- as the candidates endorsed by Bolsonaro were roundly defeated, according to full official results.

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The Brazilian left meanwhile continued to struggle to bounce back from the damaging impeachment of president Dilma Rousseff in 2016 and the jailing of her predecessor, Luiz Inacio Lula da Silva, on corruption charges -- the events that paved the way for Bolsonaro's "conservative wave."

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The runoff elections "confirmed what we'd already seen in the first-round vote (on November 15): a defeat for Bolsonaro's camp," said political scientist Leonardo Avritzer of the Federal University of Minas Gerais.

"The left meanwhile continues to have enormous difficulties."

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For the first time in its history, Lula's and Rousseff's Workers' Party (PT) failed to win a single mayoral race in Brazil's 26 state capitals.

Traditional parties to the center and right meanwhile consolidated the comeback they made in the first round, including Sao Paulo Mayor Covas's Brazilian Social Democracy Party (PSDB) and Rio mayor-elect Paes's Democrats (DEM).

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Bolsonaro, the politician known as the "Tropical Trump," will for his part have to work to bolster his position before his expected reelection bid, analysts said.

"Bolsonaro showed little political capacity as a leader," said political scientist Flavia Biroli of the University of Brasilia.

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"The center-right and right came out as winners, but that is not the same as the Bolsonaro right," she told AFP.

Against 'politics of hate'

Covas and Paes both took aim at Bolsonaro in their victory speeches.

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Covas, a 40-year-old cancer survivor tasked with handling one of the world's biggest coronavirus outbreaks, called his win a victory for "science and moderation."

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That was seen as a veiled jab at Bolsonaro's polarizing style and controversial handling of Covid-19, which the president has downplayed as a "little flu" even as it has killed more than 172,000 people in Brazil, the second-highest death toll worldwide, after the United States.

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Covas had to fend off what looked at times to be a tough challenge from leftist activist turned politician Guilherme Boulos, hailed by progressives as the new face of the Brazilian left.

However, the result was not close in the end: Covas won 59 percent of the vote in Latin America's biggest city, to 41 percent for Boulos.

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The incumbent received warm congratulations from his predecessor and mentor, Sao Paulo state Governor Joao Doria, a top contender to challenge Bolsonaro for the presidency.

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In Rio, Paes condemned the "politics of hate" associated with both Bolsonaro and the candidate the president backed, Evangelical pastor and incumbent Mayor Marcelo Crivella.

"The results of extremism, hate and division have been good for no one," said Paes, who was previously Rio mayor from 2009 to 2016.

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Paes won with 64 percent of the vote to 36 percent for Crivella.

The other runoff candidate backed by Bolsonaro, police reserve captain Wagner Sousa Gomes, also lost in the northeastern city of Fortaleza.

"We face great challenges as a country right now. To recover, we must restore the American dream -- a society where each person can rise to their potential and dream even bigger for their children," Yellen tweeted.

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"As Treasury Secretary, I will work every day towards rebuilding that dream for all."

Other officials announced on Monday include veterans of former president Barack Obama's administration, several of which the Biden transition team noted would break racial barriers in their positions.

site>> https://www.guest-articles.com/business/french-parliament-drops-draft-law-curtailing-right-to-film-police-30-11-2020

"As we get to work to control the virus, this is the team that will deliver immediate economic relief for the American people during this economic crisis and help us build our economy back better than ever," Biden said in a statement.

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