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US money market funds hit all-time high of $6.67tn

Donald Trump has nominated vocal vaccine sceptic and former Democrat Robert Kennedy Jr as head of the US Department of Health and Human Services, the latest in a series of controversial picks for top cabinet jobs.

The appointment will put Kennedy, who sowed doubts about Covid-19 vaccines and has been critical of the pharmaceutical industry, in charge of a department with a $1.6tn budget with wide-ranging influence over drug regulation and public health.

“For too long, Americans have been crushed by the industrial food complex and drug companies who have engaged in deception, misinformation, and disinformation when it comes to public health,” the president-elect wrote on social media platform Truth Social.

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