Joe Biden inherits dual crises but few people a year ago would have put much money on him becoming president

No time to waste. That was the message from Joe Biden as he announced plans for a $1.9tn (£1.4tn) only days before his inauguration as US president next week. Combatting the health and economic crises he will inherit from Donald Trump will be top of the agenda for his administration.

The latest jobs figures highlight the problem. In the latest week, the number of rose by 181,000 to 965,000, the highest weekly figure since August. Record Covid-19 infection rates during the winter months have led to curbs on activity being strengthened, partly as a result of action by individual states and partly because individuals have become more cautious.