.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 U.S. and Canada have agreed to temporarily close their shared border to nonessential travel. President Donald Trump made that announcement Wednesday on Twitter as the two nations work to stem the spread of the coronavirus pandemic.
Despite the impact of the COVID-19 outbreak on the airline industry, even as momentum for an enormous bailout package builds in the White House and on Capitol Hill, ia growing backlash has been sparked among Democratic lawmakers, consumer advocates, and antitrust experts.
Senator Cory Gardner (R-Colo.) told Cheddar’s J.D. Durkin on Tuesday,“[An airline bailout] is going to have to be a part of this immediate package
Stocks are closing solidly higher after President Donald Trump promised he's “going big” with plans to blunt the economic pain caused by the coronavirus outbreak.
New York City Mayor Bill de Blasio said Tuesday that New Yorkers should prepare for the possibility of a “shelter-in-place” order within the next 48 hours.
Stocks are adding sharply to their gains on Wall Street after President Donald Trump and his team announced more measures to combat the coronavirus outbreak.
Stacey Cunningham, president of the New York Stock Exchange, told Cheddar on Tuesday that the markets remaining open is important during the COVID-19 pandemic.
The White House announced major moves in coordination with the Federal Reserve to mitigate economic damage from the coronavirus pandemic which has brought some industries to a near halt.
Andrew Cuomo said this morning that the expected peak of infection is 45 days out, based on a hospitalization rate of between 15 to 19 percent.
These are the headlines you Need 2 Know for Tuesday, March 17, 2020.
