The transition of presidential power finally began this week — for America, and for the world. Donald Trump has yet to accept defeat. But markets cheered the go-ahead for co-ordination between his administration and Joe Biden’s team, and a string of reassuring nominations from the president-elect. For US allies the Biden slate marks a return to more traditional US engagement — and a welcome sign the “grown-ups” are back in control. Yet there will be a tension between the incoming team’s desire to restore US leadership, and what large portions of the American people may be ready to accept.
With Janet Yellen poised to be named Treasury secretary, John Kerry as climate envoy, and Antony Blinken at State, Mr Biden’s choices project experience, competence and predictability, with a dash of youthful talent in Jake Sullivan as national security adviser. Add in Avril Haines as director of national intelligence — like Ms Yellen, the first woman in that role…