Janet Yellen’s confirmation hearing, Biden’s economic agenda, new investment opportunities in the Blue Economy, and Connecticut’s response to the COVID-19 pandemic are among the key business news items this morning.
National
Treasury Secretary nominee Janet Yellen will reportedly call on lawmakers to “act big” on economic stimulus during her confirmation hearing today, according to remarks obtained by the Wall Street Journal. This position is in line with President-elect Joe Biden’s call for a $1.9 trillion stimulus package and with Yellen’s past advocacy for large stimulus spending.
An Associated Press-NORC Center for Public Affairs Research poll finds that the economy is the most pressing concern for Americans as Biden takes office, with 68 percent naming it as a top concerns. Jobs and unemployment were a major issue among respondents, and 53 percent considered the COVID-19 pandemic to remain a pressing issue.
Economic experts are suggesting that key provisions in Biden’s stimulus proposal, including support for paid family leave and support for child care providers, could help reverse an exodus of women workers from the labor force. And a comprehensive article by the Wall Street Journal looks at Biden’s economic goals.
Business trends
The increasing popularity of offshore wind farm is prompting new investments in ships. Investors are finding opportunities to finance vessels to assist in clearing the seabed, establishing foundations, and putting up turbines.
Connecticut
Connecticut has opened its largest COVID-19 vaccination site at the former Pratt & Whitney airfield in East Hartford. The goal is to have the site be capable of vaccinating at least 1,000 people a day.
