What a Biden economy might look like

President-elect Joe Biden says the Trump administration’s refusal to concede the election will not affect the transition of power. But could this lack of cooperation be a harbinger of things to come? Unless Democrats can secure two Senate seats in Georgia in a January run-off, Republicans will retain control of the upper chamber, constraining Biden’s ability to push through his economic agenda and the Democrats' proposed fiscal stimulus, worth $3.4 trillion.

The ongoing political division in Washington comes as millions of Americans remain out of work, incomes are being squeezed and rising Covid-19 cases raise the spectre of tighter restrictions. In this podcast, ING’s Chief International Economist James Knightley discusses the outlook for the US economy, with Biden at the helm.