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HUD prioritizes climate change mitigation, economic equity in block grants

By Ashraf Khalil, Associated Press

The Department of Housing and Urban Development has laid out new guidelines for the disbursal of $2 billion in disaster-relief bloc grants, with an emphasis on climate-change mitigation and equity for underserved communities.

WATCH: Biden issues an infrastructure ‘roadmap’ in meeting with U.S. governors

By Josh Boak, Associated Press

President Joe Biden is urging U.S. governors to ramp up their construction plans as his administration rolls out a guidebook for accessing the nearly $1 trillion made available by the bipartisan infrastructure deal.

IMF urges El Salvador to scale back its push for Bitcoin as legal tender

By Claudia Torrens, Associated Press

The International Monetary Fund says that El Salvador should dissolve the $150 million trust fund it created when it made the cryptocurrency Bitcoin legal tender and return any of those unused funds to its treasury.

Burkina Faso at risk for more unrest after coup

By Sam Mednick, Associated Press

Already there appear to be tensions between the military and gendarme security forces. There is also the risk that some elements within the military could stage a counter-coup against the junta now leading the West African country.

State and local governments see rebound after billions of dollars in losses during pandemic

By David A. Lieb, Camille Fasset, Associated Press

State and local governments lost at least $117 billion of expected revenue early in the pandemic, according to an Associated Press analysis, but many are now awash in record amounts of money, boosted partly by federal aid.

A key inflation gauge rose 5.8 percent in 2021, most in 39 years

By Associated Press

At the same time, incomes rose 0.3% last month, providing fuel for future spending.

The Fed aims to clamp down on inflation with rate hikes. Will it work?

By PBS NewsHour

The Federal Reserve is shifting its approach to the economy and monetary policy. It's a major change after holding interest rates at near zero levels. Given the pandemic, it's not without its own risks. But the Fed chairman said the…

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Biden cancels Trump-era lease renewals for proposed Minnesota mine

By Dave Kolpack, Associated Press

The reversal ordered Wednesday follows an October decision to move forward with a study that could lead to a 20-year ban on mining upstream from the Boundary Waters Canoe Area Wilderness.

WATCH: Federal Reserve plans to raise rates as soon as March to cool down inflation

By Christopher Rugaber, Associated Press

The Federal Reserve signaled Wednesday that it plans to begin raising its benchmark interest rate as soon as March, a key step in reversing its pandemic-era low-rate policies that have fueled hiring and growth but also escalated inflation.

U.S. warns that computer chip shortage could shut down factories

By Associated Press

The chips used in the production of automobiles and medical devices are especially scarce. The department said demand for chips was up 17 percent last year from 2019.