.By Mary Clare Jalonick and Eric Tucker
Sen. Richard Burr, R-N.C., stepped aside as chairman of the Senate Intelligence Committee on Thursday after the FBI served a search warrant for his phone as part of an ongoing insider-trading investigation tied to the coronavirus pandemic.
Senate Majority Leader Mitch McConnell announced the move, saying he and Burr had agreed it was in the Senate's best interests.
FBI officials showed up at Burr's home with the warrant on Wednesday, marking a significant escalation into the Justice Department's investigation into whether Burr broke the law with a well-timed sale of stocks before the coronavirus caused markets to plummet,
The Justice Department declined to comment. His attorney did not respond to phone and email messages, but said last month that the law is clear that any senator can participate in stock market trading based on public information "as Sen. Burr did."
The Congressional Budget Office expects the U.S. economy will grow at a 4.6% annual rate this year, but with employment not returning to pre-pandemic levels until 2024.
President Joe Biden is warning of a growing “cost of inaction” on his $1.9 trillion COVID relief plan.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
Event organizers and other unconventional logistics experts are using their skills to help the nation vaccinate as many people against COVID-19 as possible.
The wave of small investors who have ballooned the price of GameStop stock in an unprecedented short squeeze are calling on each other to hold their positions even as trading platforms freeze additional sales.
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Consumers slowed their spending for a second straight month in a worrisome sign for an economy struggling under the weight of a still out-of-control pandemic.
The independent senator says multiple groups will benefit from the proceeds, including Meals on Wheels and Vermont community action agencies. He also says Getty Images will donate proceeds as part of a licensing agreement.
New York may have undercounted COVID-19 deaths among nursing home residents by thousands.
Employers weigh the pros and cons of potentially mandating workers get the COVID vaccine or incentivizing them to get the shots, a conundrum complicated by legal considerations.
