Biden’s new economic team is an outstretched hand to moderate Republicans

With a new Congress after the November elections, with a fractured Republican Party starting to put down the checkered flag for the 2024 presidential elections, and with a foreign policy focused these days on spy balloons flying over the United States, there is risk of forgetting the key mantra of politics: “The economy, stupid”. If there is a recession this year, the chances of a renewal of Joe Biden in the White House, or of his yet-to-be-selected Democratic successor, are greatly diminished. Inflation is going on too long, the Fed has lowered interest rates and prices continue to rise. Only the drop in the price of petrol has given us some respite. JP Morgan CEO Jamie Dimon has predicted that by the end of the year, a recession could be inevitable.
So President Biden must use every weapon he has to steer the economy.