Russian invasion will have "enormous economic repercussions," says Treasury Secretary Janet Yellen
CBSN
Russia's invasion of Ukraine will have "enormous economic repercussions in Ukraine and beyond," Treasury Secretary Janet Yellen told lawmakers Wednesday. People around the world are seeing rising prices on energy, food and other commodities.
During a hearing before the House Financial Services Committee, Yellen said the invasion has disrupted the flow of food to millions of people around the world and caused prices to spike. Yellen also acknowledged the sanctions placed on Russia are driving up the price of energy.
"We think it's a price important to pay to punish Russia for what it's doing in Ukraine, but energy prices are going up," Yellen said. "The price of wheat and corn that Russia and Ukraine produce are going up and metals that play an important industrial role – nickel, titanium, palladium – that goes into catalytic converters – the costs of those things are going up."
Former heart surgeon and television host Dr. Mehmet Oz is set to face questions Friday from the Senate's finance committee over his nomination to head the Centers for Medicare and Medicaid Services under President Trump.
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A judge in Maryland has blocked for now the mass firings of probationary federal workers and ordered thousands of fired probationary workers to be reinstated, marking the second decision of its kind in a day.
In the past year, over 135 million passengers traveled to the U.S. from other countries. To infectious disease experts, that represents 135 million chances for an outbreak to begin. To identify and stop the next potential pandemic, government disease detectives have been discreetly searching for viral pathogens in wastewater from airplanes. Experts are worried that these efforts may not be enough.
Washington — Irish Taoiseach Micheál Martin said he hopes dialogue can resolve the trade war between the U.S. and the European Union after President Trump Thursday threatened to impose 200% retaliatory tariffs on European wines and alcohols.
A former local mafia boss died Wednesday after he was shot in his car in the middle of a busy highway near the French city of Grenoble, local authorities and sources close to the case told French news agency AFP.
The Social Security Administration could soon lose as many as 10,000 workers, according to former agency leaders who expect a large portion of federal workers to accept a buyout offer from the agency.
Defense Secretary Pete Hegseth has ordered a review of military standards, including physical fitness, body composition and grooming. It's a review Hegseth promised during his confirmation hearing when questioned about his statements he's made that military standards have eroded.
Washington — Democratic Rep. Raúl Grijalva of Arizona died Thursday morning after "a long and brave battle" against cancer, according to his office.
Dollar General has a particularly clear view into the pocketbooks of low-income Americans, given those shoppers are the discount retailer's core customer base. And some are so financially pinched they can no longer afford basic necessities, the chain relayed on Thursday.
President Trump has made a number of inaccurate claims about Canada in the past week as he imposed new tariff hikes on the country and touted his plans for more.
Those who glance up at the sky tonight will have an opportunity to catch the March 2025 "Blood Moon," a phenomenon that colors the full moon in shades of red, orange and yellow during a total lunar eclipse.
A 37-year-old man died after falling from a chairlift that was having a mechanical problem at a Montana ski area, according to local authorities and a spokesperson for Red Lodge Mountain.