.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."
U.S. consumers increased their spending by a sluggish 0.5% in October, the weakest gain since April when the pandemic first erupted and a sign that Americans remain wary with the virus resurging across the country and threatening the economy.
Bob Pinnegar, president of the National Apartment Association, discusses the impending housing crisis should a stimulus bill fail to materialize quickly.
Here are the headlines you Need2Know for Tuesday, November 25, 2020:
Scottish lawmakers have unanimously passed legislation that will make period products freely available to anyone who needs them.
The General Services Administration has ascertained that President-elect Joe Biden is the “apparent winner” of the Nov. 3 election.
President-elect Joe Biden has chosen former Federal Reserve Chair Janet Yellen to serve as treasury secretary, a pivotal role in which she would help shape and direct his economic policies.
Jennifer Horn, a co-founder of the Lincoln Project and former New Hampshire GOP chair, had sharp words for Republicans for sticking with President Trump.
AstraZeneca reported that its vaccine is 90% effective and cheaper to distribute than vaccines from its competitors. Meanwhile, the U.S. is averaging 1,500 deaths per day according to Johns Hopkins.
Joe Biden expressed concern Thursday that President Donald Trump's unprecedented attempt to block the peaceful transition of power at the White House has hindered the flow of information about programs to fast-track a coronavirus vaccine.
With both of Georgia's Senate races moving on to runoff elections, Democrat Jon Ossoff has another six weeks to make his case to voters.
