Sentinel Colorado

President-elect Joe Biden on Tuesday introduced top advisers he says will help his administration rebuild an economy hammered by the coronavirus pandemic, declaring, "I know times are tough but I want you to know that help is on the way."

Federal Reserve Chairman Jerome Powell says that the pace of improvement in the economy has moderated in recent months with future prospects remaining "extraordinarily uncertain."

"After all they've been through, we think there's going to be a psychological factor that they owe it to themselves and their families to have a better-than-normal holiday," said NRF Chief Economist Jack Kleinhenz in a statement. "There are risks to the economy if the virus continues to spread, but as long as consumers remain confident and upbeat, they will spend for the holiday season."