The S&P 500 index gained 2.91% to just short of the 6000 mark, its best percentage gain since the week of Election Day ended on Nov. 8.
A top economic adviser to President Joe Biden warned that Donald Trump’s incoming administration risks reigniting inflation if it interferes with the Federal Reserve’s policymaking on interest rates.
President Biden’s inauguration was clouded by a once in a century pandemic and a predecessor trying to cling to power. The 46th president’s entire term was a constant test of crisis management.
Biden will depart office with the lowest end-of-term unemployment since Bill Clinton, but high inflation and the COVID-19 recovery complicated any evaluation of Biden’s labor market.