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 is the significance of the Federal Reserve chair's testimony on Capitol Hill?

Who were the key members introduced by Joe Biden as part of his economic team?