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FT: Janet Yellen calls for action to prevent US economic ‘devastation’

  
Analysis, Economy

Yellen is ex-Chair of the Federal Reserve System and incoming US Treasury Secretary once President-elect Biden takes the helm.

Via the Financial Times:
  • warned of “more devastation” in the economy if the US failed to address the fallout from the pandemic
  • disproportionate toll on low-income families
  • an “American tragedy” that needed to be quickly tackled.
Link is here for more (may be gated) .
Yellen is ex-Chair of the Federal Reserve System and incoming US Treasury Secretary once President-elect Biden takes the helm.Yellen was replaced as Fed Chair by Trump.

Major indices close higher but come off highs in the last hour or so of trading

  
Analysis, US Market
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S&P and NASDAQ index is still close at record highs

The major indices close higher but come off the highs and last hour so trading. Nevertheless both the NASDAQ and S&P closed at record high levels. The NASDAQ closed at record highs for the 46th time this year.

A snapshot of the close shows:
  • S&P index up 40.81 points or 1.13% at 3662.44.  The new all time high price comes in at 3678.45
  • the NASDAQ index close up 156.36 points or 1.28% at 12355.10. The new all-time intraday high price reached 12405.70
  • the Dow industrial average rose 185.28 points or 29823.92. The high price did extend back above the 30,000 level to a high price of 30083.31
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