.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."
Fed Chair Jerome Powell confirmed interest rates remaining near zero and continuation of asset purchases but declined to speak to the ongoing GameStop drama.
Stuck in the grip of a viral pandemic, the U.S. economy grew at a 4% annual rate in the final three months of 2020 and shrank last year by the largest amount in 74 years.
Stock Swings, Climate Change & Young Tony Soprano
President Joe Biden is undertaking what would be the most ambitious effort to cut America’s oil, gas and coal emissions and stave off the worst effects of climate change.
The Doomsday Clock remains as close to midnight as it has ever been – just 100 seconds to midnight.
The Federal Reserve pledged on Wednesday to keep its low interest rate policies in place even well after the economy has sustained a recovery from the viral pandemic.
New York Lt. Gov. Kathy Hochul spoke with Cheddar about why the time is right to pass marijuana legalization in light of COVID and budget shortfalls.
Rallies, celebrations, and marches all over Brooklyn on Friday to celebrate the actual end of slavery 155 years ago, took on added significance in the wake of high profile police killings of Black Americans.
In New York City, residents are lining up for the vaccine even as the distribution chain becomes strained. Cheddar's Chloe Aiello follows the reservation process and how the state will manage its supply of vaccines.
For many homeless people, in NYC, the overnight subway shutdown is leaving them with nowhere to go especially as coronavirus infections spread throughout shelters.
