Gina Raimondo easily won Senate confirmation as Commerce secretary, placing the Rhode Island governor at the heart of President Joe Biden’s efforts to revive the U.S. economy and confront alleged unfair trade practices by China.

The U.S. trade deficit widened to the second-largest on record in November as merchandise imports reached a more than one-year high in the midst of the holiday shopping season, causing the shortfall in goods to climb to the highest yet.

The U.S. merchandise-trade deficit unexpectedly narrowed in September from the prior month’s record as imports declined for the first time in four months.

The U.S. economy will see a slightly deeper contraction this year but a bigger rebound in 2021 than previously forecast, according to updated estimates from the Congressional Budget Office.

The International Monetary Fund sees the world needing public investment of more than $20 trillion in the next two decades as nations spend on initiatives including improved healthcare systems, infrastructure and green technology.