America Moves on From Trump, Biden's Picks Praised & General Motors Embraces a Clean Energy Future
We all might be pleasantly surprised by how quickly the nation moves on from Donald Trump and his administration's most disquieting policies. There were some signs of that yesterday.
A chorus of Republicans in Congress, conservative activists like Laura Ingraham, and 160 CEOs called for Trump to allow for an orderly transition to the Biden administration. And, former NJ Gov. Chris Christie, a close Trump ally, called the conduct of Trump’s legal team, led by Rudy Giuliani, “a national embarrassment.” The whole "stolen election" conspiracy thing was becoming a bit too distasteful, even for Trump's most reliable allies.
And, you could hear and feel a collective sigh of relief in Washington, on Wall Street, and across the globe when President-elect Joe Biden announced his foreign policy team yesterday. Antony Blinken and Biden's other selections have decades of experience in international relations and are widely respected in the State Department and foreign capitals. Biden has promised that they will move quickly to repair America's image abroad and undo Trump's failed foreign policy.
Biden is also preparing to nominate economist and former Fed chair Janet Yellen to be Treasury secretary, the first woman to head the department and one of the most experienced monetary policy experts in America. Moreover, she has the respect of many progressives because of her work to reduce income inequality, while also garnering praise from business leaders and Wall Street. It's an inspired choice and stocks rallied yesterday as news leaked of her appointment.
And yesterday General Motors abandoned the Trump administration’s legal fight to overturn California’s strict fuel economy standards, signaling that it was ready to embrace Joe Biden's plan to reduce greenhouse gas emissions from cars and trucks. GM was probably just acknowledging the inevitable, but it shows how quickly America can recover from its four lost years.
By: Don Lam