The Week in Business: This Is Getting Awkward

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Welcome to the weirdest Thanksgiving week ever. Whether you’re staying home — an excellent choice — or taking your chances by traveling, be safe, and keep your gathering small. (Remember, that means more pie for you.) — Charlotte CowlesImageCredit…Giacomo BagnaraWhat’s Up? (Nov. 15-21)Recovery on the RocksDespite more promising vaccine news, the economy’s recovery is looking shakier by the day. New claims for unemployment rose last week for the first time in over a month, and coronavirus outbreaks continue to shatter records and prompt new lockdowns. Despite these alarming developments, the Trump administration is actually ending some current pandemic relief programs. Treasury Secretary Steven Mnuchin asked the Federal Reserve to return unused funds earmarked for virus-related emergency loans by the end of the year. (The Fed said that it “would prefer” that the funding stay in place to support “our still-strained and vulnerable economy.”) In reclaiming the money, Mr. Mnuchin makes it harder for President-elect Joseph R. Biden Jr.’s incoming administration to restart the Fed’s aid efforts next year.Speaking of 2021 …In his first major policy speech since he won the election, Mr. Biden called on Congress to pass a large stimulus package immediately, even as lawmakers …

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