Newsy's Latest Politics Roundup

On December 1st, Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell testified before the Senate Banking Committee about the economic challenges due to the pandemic. Mnuchin warned that state and local lockdowns could hinder economic growth, while Powell emphasized that full recovery depends on controlling the virus and distributing a vaccine. President-elect Joe Biden introduced his economic team, including Janet Yellen as Treasury Secretary nominee, in Wilmington, Delaware.

What did Steven Mnuchin identify as a threat to economic growth and recovery?

• Increased federal taxes

• Decreasing consumer spending

• Continuing state and local lockdowns

• Rising inflation rates

According to Jerome Powell, what is necessary for a full economic recovery?

• Increased government spending

• Control of the coronavirus and widespread vaccine distribution

• Lower interest rates

• Higher employment rates

What did Powell suggest regarding the Federal Reserve's lending programs?

• They should be reduced

• They should be extended

• They should be privatized

• They should be terminated

Who did Joe Biden nominate as his Treasury Secretary?

• Jerome Powell

• Mira Tandon

• Steven Mnuchin

• Janet Yellen

What position is Mira Tandon nominated for by Joe Biden?

• Secretary of Commerce

• Secretary of State

• Director of the Office of Management and Budget

• Federal Reserve Chair