Jan 13 U.S. expected to hit debt limit Thursday, Yellen tells Congress By Fatima Hussein, Associated Press Treasury Secretary Janet Yellen notified Congress on Friday that the U.S. is projected to reach its debt limit on Thursday and will then resort to “extraordinary measures” to avoid default. Continue reading
Jan 12 Watch 4:47 Rising prices push many Americans further into credit card debt By Geoff Bennett, Dorothy Hastings Inflation rates fell for the sixth consecutive month, but Americans are still feeling the pinch from higher than usual prices. Many have been forced to pull out their credit cards, even while interest rates on those cards are soaring. Michelle… Continue watching
Jan 12 Inflation eases across U.S., may need less action from Fed to control it By Christopher Rugaber, Associated Press Rising U.S. consumer prices moderated again last month, bolstering hopes that inflation's grip on the economy will continue to ease this year and possibly require less drastic action by the Federal Reserve to control it. Continue reading
Jan 12 Bank to pay $31M for avoiding mortgages to minorities, largest such settlement in U.S. history By Ken Sweet, Associated Press The Justice Department accused Los Angeles-based City National Bank on Thursday of discriminating against Black and Latino residents, requiring the bank to pay more than $31 million in what is the largest redlining settlement in history. Continue reading
Jan 12 Few airline delays or cancellations a day after FAA outage grounds planes By Michelle Chapman, David Koenig, Associated Press Delays and cancellations among flights across the United States were minimal on Thursday, a day after a system that offers safety information to pilots failed, grounding some planes for hours. Continue reading
Jan 12 WATCH: Biden addresses new inflation report, classified documents found at home By Zeke Miller, Mike Balsamo, Associated Press The president told reporters at the White House that he is “cooperating fully and completely” with a Justice Department investigation into how classified information and government records made their way to his home and the office of his former institute… Continue reading
Jan 11 Watch 6:14 What may have caused the FAA computer outage that grounded flights for hours By Amna Nawaz, Alexis Cox, Dorothy Hastings The nation's air travel system had another long, difficult day Wednesday. More than 1,100 flights were canceled and 7,700 were delayed when a critical system failed at the Federal Aviation Administration. The outage forced the FAA to call a nationwide… Continue watching
Jan 11 Watch 8:22 More homes using heat pumps as cheaper, greener alternative to fossil fuels By Miles O'Brien, Will Toubman U.S. emissions fell during the height of the pandemic as people were stuck at home, but that changed as the pandemic eased. Many researchers, scientists and lawmakers argue that Americans need to reduce their use of fossil fuels much sooner… Continue watching
Jan 11 WATCH: Transportation Secretary Pete Buttigieg speaks on FAA computer outage By Associated Press Transportation Secretary Pete Buttigieg says "safety is going to be our North Star, as always," following the outage of the Federal Aviation Administration system on Wednesday. Continue reading
Jan 11 Report warns the cost-of-living crisis may overshadow climate change By Kelvin Chan, Associated Press A report by the World Economic Forum says climate change is the global economy's biggest long-term challenge but one the world is least prepared to tackle because of short-term problems led by a cost-of-living crisis. Continue reading