Jack Reed
U.S. Senate confirms Joe Biden nominee Lloyd Austin as defense secretary
The U.S. Senate on Friday confirmed President Joe Biden’s nominee, retired Army General Lloyd Austin, to serve as Secretary of Defense – the first Black American in the role. The vote was an overwhelming 90-2 in the 100-member chamber, far more than the simple majority needed. Lawmakers from both parties said they were pleased that Austin would be installed to lead the Pentagon just two days after Biden was sworn in as president on Wednesday. Senator Jack Reed, the incoming Democratic chairman of the Senate Armed Services Committee, noted the wide range of challenges facing the country – including the coronavirus pandemic and competition with China and Russia. “General Austin is an exceptionally qualified leader with a long and distinguished career in the U.S. military,” Reed said before t...
Gold rises on renewed US stimulus hope, dollar falls
Spot gold rose 0.3 percent to $1,910.56 an ounce at 3:37pm, New York time, after falling as much as 0.5 percent. Gold rose on renewed optimism for a preelection aid package in the U.S., while the dollar fell to a one-week low. House Speaker Nancy Pelosi said a bill for a compromise stimulus package is being written as she awaits a key phone call with Treasury Secretary Steven Mnuchin. Senate Majority Leader Mitch McConnell said his chamber would take up a comprehensive coronavirus package if an accord is struck. The Bloomberg Dollar Spot Index headed for the third straight decline. Pelosi said in a Bloomberg Television interview that while there are areas where more work is required to get a compromise, she was pleased with the Trump administration’s latest position on coronavirus testing ...
