Federal Reserve Chairman Ben Bernanke speaks during a news conference in Washington on Dec. 12. Some economists worry the Fed has set the stage for inflation as well as stock and housing bubbles by keeping interest rates low.
The Federal Reserve continued to keep its foot on the accelerator in 2012, using unusual tactics to try to boost economic growth. But there's disagreement among economists about whether the Fed's policies were effective or whether the risks to the economy outweighed the rewards.
Originally published on Thu December 27, 2012 7:27 am
Owners of Toyota vehicles that experienced sudden and unintended acceleration have reached a settlement that could require the carmaker to pay as much as $1.4 billion in claims, according to the auto maker and the law firm representing Toyota customers.
U.S. District Court Judge James Selna, at whose direction the many lawsuits over the "runaway car" fears were consolidated in 2010, will review the proposed settlement Friday.
Katie Alonzo was stunned when doctors told her they couldn't get a drug her 10-year-old daughter, Abby, was taking to fight lymphoma.
"When a doctor says, 'This is what you need to take.' And then all of a sudden somebody tells you, 'Well, that is what you need to take but this isn't available so we're going to try this instead,' it's very scary," say Alonzo, who lives in Port St. Lucie, Fla.
Starting next summer, aspiring commercial pilots will need 1,500 hours of flight training before they can be hired. This dramatic increase, among other factors, is making airlines worry that there will not be enough pilots to maintain current service.
Some airlines — especially the smaller ones — worry they won't have enough pilots. They're a number of factors in play, but they point to new federal safety rules as a big part of the problem.
In February 2009, a Colgan Air commuter jet crashed, killing 50 people. Investigators cited inadequate pilot training; Congress responded with new legislation. Beginning next summer, those who want to pilot commercial jets will need dramatically more hours of flight training before they can be hired.