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Happy Wednesday and welcome back to On The Money. Im Sylvan Lane, and heres your nightly guide to everything affecting your bills, bank account and bottom line.

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THE BIG DEALBiden wins America's economic engines: President-elect Joe BidenJoe BidenBrewery launches new Biden beer described as 'inoffensive and not too bitter' Deb Haaland says 'of course' she would serve as Interior secretary under Biden State Department won't give Biden messages from foreign leaders: report MOREs victory last week came on the strength of his performance in the strongest parts of Americas economy, the latest sign of a growing economic and cultural divide thats increasingly shaping the nations political debate.

That chasm will make reconciliation between bitter partisans all the more difficult in the years ahead. The Hills Reid Wilson tells us why here.

The growing divide: The partisan gap between the nations economic powerhouses and its laggards has widened dramatically over the last two decades.

Why its happening: The growing Democratic advantage is a reflection of the evolution of an economy that was once based on agriculture and manufacturing but is now dominated by services and information.

That shift has concentrated economic power in big cities and among younger, more diverse and better-educated workers all groups that favor Democrats over Republicans.

LEADING THE DAY

Progressives praise Biden's picks for economic transition team: President-elect Joe Biden is earning praise from progressives for tapping a wide range of government veterans and academics to help form an economic team that will be tasked with trying to advance Democratic policies in a deeply divided Washington.

While Biden has not announced any Cabinet nominees, the scholars and economists he picked to lead agency review teams included familiar names in progressive circles. I explain why here.

The transition team:

Biden has also enlisted leading experts on racial economic disparities and discrimination within the financial system, such as University of California Irvine law professor Mehrsa Baradaran and Michigan State University economics professor Lisa Cook.

I think some of this reflects that this administration, for the next two years, will likely rely heavily on administrative reform to help redirect the priorities of the nation and push more fairness and more economic reach for working families and families of color, said Michael Calhoun, president of the Center for Responsible Lending.

Restaurants go seasonal with winter shutdowns during pandemic: Congressional inaction on COVID-19 relief combined with rising coronavirus cases is prompting more restaurants to close up shop for the winter and go into hibernation until warmer weather returns.

Shutting down a restaurant temporarily is never going to be a perfect or elegant solution. There is still going to be workers or suppliers that rely on that restaurants operations that are going to be left short, said Sean Kennedy, executive vice president of public affairs at the National Restaurant Association.

The Hills Alex Gangitano has more here.

GOOD TO KNOW

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On The Money: Biden wins America's economic engines | Progressives praise Biden's picks for economic transition team | Restaurants go seasonal with...