North America

WASHINGTON, Nov. 29 (Xinhua) -- The recent rise in COVID-19 cases and the emergence of the Omicron variant pose downside risks to U.S. employment and economic activity and increased uncertainty for inflation, Federal Reserve Chairman Jerome Powell said in a written testimony released Monday afternoon.

WASHINGTON (AP) — An experimental COVID-19 drug that could soon become the first U.S.-authorized pill to treat the coronavirus faces one final hurdle Tuesday: A panel of government experts will scrutinize data on the medication from drugmaker Merck.

The Food and Drug Administration is asking its outside experts whether the agency should authorize the pill, weighing new information that it is less effective than first reported and may cause birth defects. The panel’s recommendations aren’t binding but often guide FDA decisions.

WASHINGTON (AP) — Former President Donald Trump’s lawyers will try to persuade a federal appeals court to stop Congress from receiving call logs, drafts of speeches and other documents related to the Jan. 6 insurrection at the U.S. Capitol led by his supporters.

The U.S. Court of Appeals for the District of Columbia Circuit will hear arguments Tuesday from lawyers for Trump and the House committee seeking the records as part of its investigation into the riot.

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell says that the appearance of a new COVID-19 variant could slow the economy and hiring, while also raising uncertainty about inflation.

The recent increase in delta cases and the emergence of the omicron variant “pose downside risks to employment and economic activity and increased uncertainty for inflation,” Powell said Monday in prepared remarks to be delivered to the Senate Banking Committee on Tuesday. The new variant could also worsen supply chain disruptions, he said.

NEW YORK (AP) — Wall Street steadied itself Monday after last week’s stock market slide caused by the newest coronavirus variant, with investors now waiting for more clues about just how much damage it may do to the economy.

The S&P 500 rose 1.3% to recover more than half of its drop from Friday, which was its worst since February. Bond yields and crude oil also recovered chunks of what they lost in traders’ knee-jerk reaction to run toward safety and away from risky investments.

(AP) --- Newly named Twitter CEO Parag Agrawal has emerged from behind the scenes to take over one of Silicon Valley’s highest-profile and politically volatile jobs.

But his prior lack of name recognition coupled with a solid technical background appears to be what some big company backers were looking for to lead Twitter out of its current morass.

WASHINGTON (AP) — Days after firebrand conservative Rep. Lauren Boebert of Colorado was harshly criticized for making anti-Muslim comments about Rep. Ilhan Omar, a Minnesota Democrat whom she likened to a bomb-carrying terrorist, the two spoke by phone Monday.

By both lawmakers’ accounts, it did not go well.

WASHINGTON (AP) — A House committee investigating the Jan. 6 Capitol insurrection will vote Wednesday to hold a former Justice Department official in contempt, demanding criminal charges against a defiant witness for a second time as lawmakers seek answers about the violent attack.

JEFFERSON CITY, Mo. (AP) — A federal judge on Monday blocked President Joe Biden’s administration from enforcing a coronavirus vaccine mandate on thousands of health care workers in 10 states that had brought the first legal challenge against the requirement.

The court order said that the federal Centers for Medicare & Medicaid had no clear authority from Congress to enact the vaccine mandate for providers participating in the two government health care programs for the elderly, disabled and poor.

PHILADELPHIA (AP) — Prosecutors asked the U.S. Supreme Court on Monday to reinstate Bill Cosby’s sexual assault conviction, complaining the verdict was thrown out over a questionable agreement that the comic claimed gave him lifetime immunity.

They said the Pennsylvania Supreme Court decision in June to overturn Cosby’s conviction created a dangerous precedent by giving a press release the legal weight of an immunity agreement.