FT News Briefing Biden inauguration, Yellen urges Congress to ‘act big’ on stimulus, top EU official on tech regulation goals
Jan 20, 2021
Joe Biden is inaugurated amidst significant challenges, including a global pandemic and economic turmoil. Janet Yellen urges Congress to implement an ambitious stimulus plan during her confirmation as Treasury Secretary. Meanwhile, a U.S. court eliminates previous pro-coal regulations, paving the way for possible emissions reforms. The EU's Margrethe Vestager discusses the future of tech regulation, warning major companies to cooperate or face a fragmented legal landscape. Plus, Netflix celebrates hitting 200 million subscribers.
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Biden's Immediate Challenges
- Joe Biden faces a challenging presidency with a pandemic, economic crisis, and political division.
- His first acts will likely include executive orders reversing Trump's policies and a $1.9 trillion stimulus package.
Reversing Trump's Policies
- Biden's initial priorities will be to roll back some of Trump's policies.
- This includes rejoining the Paris Climate Accord and reversing immigration bans.
Yellen's Treasury Goals
- Janet Yellen's main goal is to get Congress to pass Biden's stimulus plan.
- She aims to tackle economic inequality, climate change, and racial injustice.