Joe Biden, the US president-elect, and his transition team are expected to move quickly to fill positions in his cabinet, although he may be forced to make more moderate selections if Republicans retain control of the Senate.

The Democratic party’s lacklustre performance in Senate races during the 2020 election means that Senate Republicans, led by Mitch McConnell, could pose a challenge to Mr Biden’s chances of winning approval for his nominees to top jobs in the administration, including Treasury secretary and secretary of state.

Policy analysts in Washington said this political reality will make Mr Biden lean towards more centrist, less progressive candidates for those positions, While that could please many in business and markets, it risks alienating the more left-leaning wing of the Democratic party.