While the Democratic and Republican parties have routinely disagreed on economic policy throughout history, it has been customary for presidents to leave their successor with solid footing to promote economic change. This has been seen in every transition of power over the past 30 years, excluding the winning of consecutive terms by a single president, no party has held office over two consecutive presidencies. This does not seem to be the case with the upcoming transition of power between President Donald Trump's administration and President-elect Joe Biden's future administration. Steven Mnuchin, the Treasury Secretary for Trump's administration, is calling for the end of multiple lending programs between the Treasury and the Federal Reserve. This will leave President-elect Biden with much less ability to expand on possibly necessary federal relief for the extended economic downturn due to the COVID-19 pandemic. President Trump's nomination of Judy Shelton as a Fed Governor has caused disdain from the Democratic party, as she has shown tendencies to be a partisan actor, who will work to slow the economic progress of a Democratic administration. These steps should concern American citizens hoping for an economic comeback from the COVID-19 pandemic, and prove the ever-growing divide between the Republican and Democratic parties.
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