The Senate confirmation hearing of Janet Yellen as Treasury secretary begins on Tuesday, with a focus on reviving the pandemic-stricken economy, recovering lost jobs and regulating Wall Street. On economic stimulus, “right now, with interest rates at historic lows, the smartest thing we can do is act big,” Ms. Yellen is set to say in her opening remarks.
Corporate earnings season is ramping up, with more of America’s big banks releasing fourth-quarter earnings. Bank of America and Goldman Sachs reported on Tuesday, while Morgan Stanley steps up on Wednesday.
Netflix also reports its latest earnings on Tuesday, followed by Procter & Gamble and United Airlines on Wednesday, and IBM and Intel on Thursday.
Joseph R. Biden Jr. is expected to issue dozens of executive orders on Thursday, his first full day in office as president. He will also present legislative proposals for a $1.9 trillion stimulus bill, changes to immigration laws and other priorities of his administration.