Current Events in May 2021

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2021

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    Consumer prices jump 0.8% in April from March

    An economist says rising prices may be with us for a while

    As many consumers have noticed recently, the cost of living took a sharp move higher last month amid shortages of goods and supply chain issues.

    The Labor Department reports that the Consumer Price Index (CPI), which measures the cost of things in the consumer economy, jumped 0.8% from March -- four times what economists projected.

    On a year-over-year basis, inflation measured 4.2%, the highest level since 2008. The year-over-year number is not as dramatic as it might seem because prices are being compared to April 2020, when the economy was mostly shut down because of the pandemic.

    “It looks like inflation pressures are not only building but are likely to be here at least through the rest of the year,” economist Joel Naroff, of Naroff Economics, told ConsumerAffairs.  “With growth robust, firms have a measure of pricing power that they haven’t had in decades and they appear to be using it. That is why we are seeing price increases spread more widely across the economy.”

    Gas, food, and used cars

    Consumers have already felt the effect of rising prices. Even before the closing of the Colonial Pipeline shut off gasoline supplies to the Southeastern U.S., gas prices had been increasing. The national average price is about 14 cents a gallon higher than a month ago.

    Consumers shopping for a used car or truck have probably also noticed the price rise. The index for used cars and trucks rose 10% in April. It was the fastest one-month rise since the government began tracking this sector in 1953.

    Food prices also rose, with the food index rising 0.4% as grocery and restaurant prices rose in tandem.

    While food and energy costs were sharply higher, the report shows that price increases were broad-cased. In fact, when you remove food and energy from the calculation, the April CPI was up 0.9% from March.

    Will it last?

    The Federal Reserve has kept interest rates low in hopes of drawing inflation back over 2% per year. Naroff says it’s clear that inflation is rising, but it’s less clear that the pace can be sustained.

    “If growth in 2022 is again well above trend, and it is looking as if that is possible, then we could experience inflation closer to 3%, rather than the Fed’s desired average 2% rate, for an extended period,” he said.

    As many consumers have noticed recently, the cost of living took a sharp move higher last month amid shortages of goods and supply chain issues.The Lab...

    Volvo recalls model year 2016-2020 XC90 Excellence vehicles

    Front seat movement may trap a rear seat passenger

    Volvo Car USA is recalling 162 model year 2016-2020 XC90 Excellence vehicles.

    Liquid or condensation on the rear seat control display may cause the front passenger seat to move back as far as possible.

    A passenger in the rear seat may become trapped by the front seat without the ability to cancel the seat's movement, increasing the risk of injury.

    What to do

    Volvo will notify owners, and dealers will update the rear seat control display software free of charge.

    The recall is expected to begin June 18, 2021.

    Owners may contact Volvo customer service at (800) 458-1552. Volvo's number for this recall is R10093.

    Volvo Car USA is recalling 162 model year 2016-2020 XC90 Excellence vehicles. Liquid or condensation on the rear seat control display may cause the fron...

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      Coronavirus update: FDA approves adolescent vaccination, Americans were on the move during the pandemic

      CDC officials say you didn’t need all those disinfectant wipes after all

      Coronavirus (COVID-19) tally as compiled by Johns Hopkins University. (Previous numbers in parentheses.)

      Total U.S. confirmed cases: 32,745,835 (32,709,612)

      Total U.S. deaths: 582,183 (581,775)

      Total global cases: 159,073,559 (158,434,226)

      Total global deaths: 3,306,550 (3,295,077)

      FDA approves Pfizer vaccine for adolescents

      The U.S. Food and Drug Administration (FDA) has amended its emergency use authorization (EUA) for the Pfizer/BioNTech coronavirus (COVID-19) vaccine to include adolescents between the ages of 12 and 15.

      “Today’s action allows for a younger population to be protected from COVID-19, bringing us closer to returning to a sense of normalcy and to ending the pandemic,” said Acting FDA Commissioner Dr. Janet Woodcock. “Parents and guardians can rest assured that the agency undertook a rigorous and thorough review of all available data, as we have with all of our COVID-19 vaccine emergency use authorizations.”

      The two pharmaceutical companies reported last week that a clinical trial involving that age group showed that the vaccine is highly effective at preventing the virus and produced very few side effects.

      Americans were on the move during the pandemic

      Anecdotal evidence suggests a larger-than-usual number of Americans moved last year. An analysis by the Wall Street Journal confirms it, showing that permanent change-of-address forms filed with the U.S. Postal Service in 2020 exceeded 2019’s total by nearly 500,000.

      The migration out of large cities was a dominant theme. New York County, which covers Manhattan, lost big numbers to the New Jersey suburbs and Florida. San Francisco’s net loss nearly doubled, while the migration from Los Angeles County rose by 58%.

      The pattern created housing booms in major city suburbs, as well as in smaller cities like Austin, Texas; Charlotte, North Carolina; Nashville, Tennessee; and Boise, Idaho.

      CDC revises how COVID-19 spreads

      Besides toilet paper, there was a run at this time last year on disinfectant wipes as consumers scrubbed down surfaces to eliminate the spread of the coronavirus. It turns out that it wasn’t really necessary.

      In new guidance, the Centers for Disease Control and Prevention (CDC) says the virus has been found to spread through airborne droplets from an infected person, not from touching a contaminated surface.

      “Inhalation of air carrying very small fine droplets and aerosol particles that contain infectious virus,” the CDC said. “Risk of transmission is greatest within three to six feet of an infectious source where the concentration of these very fine droplets and particles is greatest.”

      New York to give shots in subway stations

      In an effort to get more New Yorkers vaccinated, state health officials will give shots of the Johnson & Johnson vaccine in New York City subway stations, as well Long Island Railroad and Metro North stations.

      As an added incentive, subway riders who get vaccinated in the stations will receive a seven-day subway pass. LIRR and Metro North riders will get at least two free rides.

      “Get a shot, and take a free ride on the MTA,’’ said Gov. Andrew Cuomo. “You are walking into the subway station anyway. You are walking past the vaccination site. It’s a one-shot vaccination.” 

      Scientists to study vaccine effect on long-haulers

      A number of people with prolonged and continuing symptoms of COVID-19 -- so-called “long-haulers” -- have reported a rapid improvement following an initial COVID-19 vaccination. Coincidence? A team of researchers at Yale University plans to find out.

      “I have wanted to understand what is driving Long COVID disease for a while,” said Akiko Iwasaki, a Yale professor and the project lead. “After seeing the survey done by Survivor Corps showing that 40% of long haulers experience improvement in their symptoms after the vaccines, I got so excited.”

      The Survivor Corps is a grassroots COVID-19 patient group. In a poll they posted to their patient community about the effects of vaccination on Long COVID, they found that about 40% of people reported mild to full resolution of their symptoms after they were vaccinated.

      Around the nation

      • Pennsylvania: New cases of the coronavirus have dropped sharply across the state as vaccination efforts increase. The state department of health reports that new cases are down by more than 25% from the week before. Fifty counties are reporting fewer infections.

      • California: Cases are down sharply and businesses have begun to reopen, but the requirement to wear a mask while at work hasn’t changed. Employment attorneys are telling California employers that they shouldn’t relax mask requirements just yet.

      • Virginia: State health officials are expressing concern about a slowdown in the pace of vaccinations across the state. Virginia’s vaccine leader, Dr. Danny Avula, says increasing the number of vaccinated residents will speed up a “return to normal.”

      Coronavirus (COVID-19) tally as compiled by Johns Hopkins University. (Previous numbers in parentheses.)Total U.S. confirmed cases: 32,745,835 (32,709,...

      Gas prices begin to rise as major pipeline remains shut down

      Hackers who targeted the pipeline say they didn’t mean to disrupt U.S. fuel supplies

      Motorists on the East Coast have already begun to see rising gasoline prices as the shutdown of the Colonial Pipeline stretches into a fourth day.

      Prices are likely to rise even more in the coming days as less fuel makes its way from Texas to the New York area through the pipeline. Operators say it will be the end of the week before the flow of gasoline resumes.

      The company shut down the pipeline late Friday after hackers breached Colonial’s system with ransomware. No vital systems were apparently compromised, but operations were shut down out of an abundance of caution.

      The 5,500-mile pipeline supplies fuel to the New York City metro and dozens of markets in several states in between the Gulf Coast and depots in New Jersey. The FBI says an Eastern European criminal gang known as Darkside was responsible for the hack.

      Hacker group apologizes

      In an odd turn of events, the group issued a statement Monday saying it did not intend to cause a disruption in the movement of vital fuel supplies. The group reportedly developed the software and sold it to other criminal operators, and it denies being connected to any foreign government.

      “We are apolitical, we do not participate in geopolitics,” the group said in the statement.

      That’s small consolation for consumers who will likely face rising gas prices until the pipeline returns to normal operations. The AAA Fuel Gauge Survey shows that the national average price of regular gas is $2.98 a gallon, rising two cents a gallon in the last 24 hours. It’s up seven cents a gallon in the last seven days.

      “This shutdown will have implications on both gasoline supply and prices, but the impact will vary regionally,” said Jeanette McGee, a AAA spokesperson. “Areas including Mississippi, Tennessee, and the East Coast from Georgia into Delaware are most likely to experience limited fuel availability and price increases, as early as this week.”  

      Hard-hit states

      The average gas price in Georgia surged 11 cents a gallon in the last 24 hours. Mississippi and Tennessee have seen prices rise three cents a gallon over the same time period. 

      Shortages could be another problem. Patrick DeHaan, head of petroleum analysis at GasBuddy, reports that 5% of Virginia stations had run out of fuel by late Monday.

      Most of the price impact will likely fall along the pipeline’s route. AAA says foreign gasoline imports and other pipelines can supplement Northeastern supply. Other areas of the country should see little impact. However, the national average price of gasoline is poised to go over $3 a gallon this week for the first time in years.

      Motorists on the East Coast have already begun to see rising gasoline prices as the shutdown of the Colonial Pipeline stretches into a fourth day.Price...

      NTSB releases report on fatal Tesla crash in Texas

      Officials say there was a driver behind the wheel and Autopilot isn’t to blame

      The National Transportation Safety Board (NTSB) has released its preliminary report on the recent fatal crash of a 2019 Tesla Model S in the Houston area. 

      On April 17, two men in Texas were killed after a Tesla Model S left the road on a curve and eventually crashed into a tree. The impact damaged the car’s lithium-ion battery, which started a fire. 

      Shortly after the crash, police told reporters that they were “100 percent certain that no one was in the driver seat driving that vehicle at the time of impact.” However, the NTSB said in its report that the car’s owner was seated in the driver’s seat and his companion was in the front passenger seat. 

      “Footage from the owner’s home security camera shows the owner entering the car’s driver’s seat and the passenger entering the front passenger seat,” the report said. 

      The agency said the car traveled "about 550 feet" from the owner’s home before leaving the road at the curb, going over the curve, hitting a drainage culvert, a raised manhole, and then a tree. A fire ensued when the vehicle crashed into the tree. 

      The agency also said in the report that Tesla’s Autopilot driver-assist technology couldn’t have been engaged at the time of the crash because it couldn’t be enabled in that location. 

      Tesla CEO Elon Musk previously insisted that Autopilot couldn’t have been active at the time of the crash, tweeting out data logs indicating that Autopilot was not enabled and that the car in question didn’t purchase the full self-driving feature. 

      Investigation ongoing

      The NTSB described the road being traveled prior to the accident as "a concrete two-lane road with one westbound and one eastbound lane and mountable concrete curbs on either side.” The road was level with no line markings, and the speed limit was 30 mph. There was a curve to the south where the Tesla crashed, the agency said. 

      Although the infotainment system in the car was destroyed by the fire, the "restraint control module" was recovered (albeit in damaged condition) and handed over to the NTSB to evaluate. The component stores data that includes how fast the car was going, acceleration details, whether seatbelts were in use, and more. 

      The NTSB’s investigation is ongoing, and it hasn’t yet decided on the probable cause of the accident. The agency is still looking to glean insights on several issues, including seatbelt use, crash dynamics, and whether the passengers were intoxicated at the time. 

      Once a probable cause is determined, the NTSB plans to issue safety recommendations to prevent future crashes.

      The National Transportation Safety Board (NTSB) has released its preliminary report on the recent fatal crash of a 2019 Tesla Model S in the Houston area....

      FCC announces new program to provide funding to schools and libraries

      The agency is looking to close the ‘homework gap’ by expanding broadband access

      The Federal Communications Commission (FCC) has announced two new developments that will help more consumers get connected to the internet. 

      First, the agency has reminded consumers that it will begin taking applications for its $3.2 billion Emergency Broadband Benefit program starting Wednesday, May 12. The program gives low-income consumers discounts of up to $50 a month for broadband service and up to $75 a month if the household is on tribal lands. A one-time discount of up to $100 on a computer or tablet will also be given to eligible households. 

      Next, the FCC has announced its unanimous adoption of a $7.17 billion program that aims to get more Americans high-speed internet at home. The program was established to enable schools and libraries to purchase computers, tablets, Wi-Fi hotspots, and broadband connectivity during the COVID-19 pandemic. 

      “Far too often, students, teachers, and library patrons lack the access they need to broadband

      and connected devices. This need has become even more apparent during these unprecedented times,” said Jessica Rosenworcel, Acting Chairwoman of the FCC. “Between this Emergency Connectivity Fund Program and the Emergency Broadband Benefit Program, we are investing more than $10 billion in American students and households.” 

      The FCC noted that as many as 17 million children in the U.S. -- particularly those from communities of color and low-income households -- don't have access to broadband, which stands in the way of remote learning during the pandemic. 

      Rosenworcel noted that these investments will help close the “Homework Gap” for students across the country and give “so many more households the ability to connect, communicate, and more fully participate in modern life.”

      The Federal Communications Commission (FCC) has announced two new developments that will help more consumers get connected to the internet. First, the...

      Mattel wants consumers to send back their old Barbies and other toys

      The company wants to use material in previously played with toys to make new toys

      Mattel has announced the launch of a new takeback program called “Mattel PlayBack.” The initiative urges consumers to donate their old Mattel toys for recycling purposes. 

      The company is kicking off the program by calling for toy donations from three brands: Barbie, Matchbox, and MEGA toys. Mattel says it will be accepting other brands in the future. 

      “Mattel toys are made to last and be passed on from generation to generation,” said Richard Dickson, Mattel’s President and COO, in a statement. “A key part of our product design process is a relentless focus on innovation, and finding sustainable solutions is one significant way we are innovating.” 

      Focusing on sustainability 

      Mattel says the program will enable it to divert valuable materials from landfills and turn those materials into new products. In the longer-term, the company said it’s committed to advancing a “circular economy.” 

      “Programs like Mattel PlayBack are an integral part of Mattel’s broader sustainability strategy and efforts to teach children about the importance of protecting the planet,” the company said. 

      Mattel previously committed to using 100% recycled, recyclable, or bio-based plastic materials across all of its products and packaging by 2030. Consumers can participate in Mattel’s new toy takeback program by visiting the company’s website, printing a free shipping label, and packing and mailing back previously played with toys. 

      Once Mattel receives the toys, they will be sorted and separated by material type and then processed and recycled. Materials that cannot be repurposed as recycled content in new toys will either be downcycled into other plastic products or converted from waste to energy, according to the company. 

      Mattel has announced the launch of a new takeback program called “Mattel PlayBack.” The initiative urges consumers to donate their old Mattel toys for recy...

      Larger markets take hit on apartment rents as people shift to smaller towns

      However, rents are going up in some of the places people are moving to

      The COVID-19 pandemic has pushed many people out of larger cities, some for their own well-being and others because working remotely has allowed them to move to a more affordable area. But all that moving has left a glut of empty spaces in some of the nation’s largest metro areas.

      With many apartments being left open, rent prices are spiraling downward in some of America's most eminent rental hotspots.

      The Bay Area collapse

      Before the pandemic, San Francisco Bay Area apartments were teeming with renters thanks to the technology industry. Overall, the region boasted 831,700 technology jobs, with Big Tech giants like Google and Facebook employing tens of thousands of local workers. 

      Fast forward a year and things have certainly changed. ApartmentGuide's latest Rent Report found that the Bay Area experienced the largest decrease -- 45% -- in its average rental price for a one-bedroom apartment over the past year. At the same time, the average rent for a two-bedroom apartment fell by 24%.

      According to a recent Harvard study, many renters lost their jobs or had their hours cut and simply couldn’t afford the average $3,458/mo. rent in the Bay Area. Even though that monthly average has dipped by 20% to $2,879, the ability to pack up your laptop and move to far less expensive places like Tulsa or Baltimore proved to be a welcome relief to renters. 

      Rounding out the Top 5 metropolitan areas where rent prices took the biggest hit are Chesapeake, Virginia, which had the second-largest year-over-year decline in rent at 29.4%. That was followed by Long Beach, California (-27.0%), Seattle (-18.9%), and Los Angeles (-16.0%).

      Markets where rent is going up

      While rents are going down in some big-name areas, apartment renters aren’t lucky across the board. There are several places where rents are accelerating significantly. 

      Of those markets, the ApartmentGuide survey shows that Kansas City, Missouri -- where house prices and employment are also growing -- experienced the largest rise in rent for a one-bedroom apartment over the past year at 33.5%. 

      Gilbert, Arizona -- the Phoenix suburb that has seen the job market increase by 3.3% over the last year and an area where the median household income is nearly $30,000 above the U.S. median -- is also plumping up apartment rents. It came in second in that category with a 26% increase. Las Vegas was on its heels at a growth of 25.3%. Rounding out the Top 5 rent increases were Riverside, California (+24.9%) and Buffalo, New York (+23.3%).

      The COVID-19 pandemic has pushed many people out of larger cities, some for their own well-being and others because working remotely has allowed them to mo...

      Study shows how consumers with obesity can maintain healthy weight loss

      Experts point to an appetite-suppressing drug and consistent exercise

      Losing weight and keeping it off can be a difficult process for many consumers, but researchers from the University of Copenhagen are exploring ways to maintain a healthy weight loss. 

      Their study focused on obese participants who first changed their diets to lose weight. The team found that consistently engaging in moderate to intense physical activity and taking an appetite-suppressing drug helped people maintain weight loss while staying healthy.

      “The problem is that people are fighting against biological forces when losing weight,” said researcher Signe Torekov. “The appetite increases simultaneously with decreased energy consumption, and this counteracts weight loss maintenance. We have an appetite-stimulating hormone, which increases dramatically when we lose weight, and simultaneously the level of the appetite-suppressing hormone drops dramatically. 

      “In addition, a weight loss can provoke loss of muscle mass, while the body reduces energy consumption. Thus, when the focus in obesity treatment has been on how to obtain a weight loss -- rather than how to maintain a weight loss -- it is really difficult to do something about your situation,” Torekov said. 

      The keys to maintaining weight loss

      The researchers analyzed 215 participants with obesity who had lost roughly 30 pounds before the study began but had no exercise routine in place. 

      To see what methods worked best to maintain a healthy weight loss, the team created four groups: two received an appetite-suppressing drug and two were given a placebo. The groups were divided even further based on exercise; one group in each of the drug and placebo subgroups was given a moderate to intense workout routine, while the other was told to carry on with their existing physical activity regimen. 

      Ultimately, the researchers learned that the combination of an exercise routine and the appetite-suppressing drug yielded the best health outcomes. Participants in this group saw improvements to key health measures, such as blood sugar, fat mass, and overall quality of life. They also lost more weight over the course of the one-year study by adhering to both treatments. 

      However, not all of the groups had such positive responses to their interventions. Those who were given the placebo pill and didn’t adopt an exercise routine had a higher risk of heart disease and type 2 diabetes; they also gained back half the weight they had lost. Participants who had either just received the drug or had just started exercising maintained their weight loss, but they didn’t gain any additional health benefits.

      Having support is important

      The researchers believe a key component of this study was the support services that were available to the participants over the course of the year. Having these resources in place helped guide participants through their weight loss and health goals, and the team believes this should be adopted more widely. 

      “Without a follow-up on whether people actually have support to perform exercise, the treatment will not be enough,” Torekov said. “Therefore, we also followed up with the participants on an ongoing basis to ensure that they received the support they needed in order to exercise. That is necessary, because maintaining weight loss is extremely hard. People need to understand this. Once you have lost weight, you are not ‘cured.’ The ongoing exercise and effort will likely need to continue for many years.” 

      Losing weight and keeping it off can be a difficult process for many consumers, but researchers from the University of Copenhagen are exploring ways to mai...

      Obesity and bullying negatively impact teens’ mental health

      Experts say these factors are contributing to rising depression rates among young people

      A new study conducted by researchers from Uppsala University explored the relationship between teens’ mental health, bullying, and obesity. 

      The researchers learned that bullying was a bigger risk factor for teens to develop depression than obesity; however, they did notice differences between teen boys and girls. While girls were more likely to struggle with depression regardless of any outside influences, boys experienced greater mental health struggles when they were also dealing with obesity

      “The purpose of our study was to investigate the connection between body mass index (BMI) and depressive symptoms, and to take a close look at whether being subjected to bullying affects this relationship over time,” said researcher Sofia Kanders. “We also wanted to investigate whether any gender differences existed.” 

      What factors influence depression?

      To determine which factors are most likely to affect teens’ mental health, the researchers analyzed responses to the Survey of Adolescent Life in Vastmanland (SALVe) study. This report looked at more than 1,100 survey responses from 2012, 2015, and 2018. In each year, the participants answered questions about their general interests, hobbies, physical and mental health, and height and weight. 

      The researchers learned that teen boys and girls had different mental health outcomes. Teen girls were more likely to experience depression-related symptoms than teen boys regardless of any other potentially influential factors, including weight. 

      Over the course of the study, the percentage of teen girls with depression symptoms steadily increased; in 2012, 17% of teen girls had depression symptoms, but that number skyrocketed to 34% by 2018. Conversely, the percentage of teen boys that experienced depression symptoms never reached 20% over the entirety of the study. 

      Obesity and bullying had a big impact on overall depression rates. Teen boys who had higher BMIs were more likely to experience depressive symptoms than their peers with normal BMIs. Those who were bullied for any reason also had an increased risk of depression-related symptoms at each survey check-in. 

      “One key conclusion and take-home message from our study is that bullying can affect mental illness for a long time to come, which therefore makes preventative measures against bullying in schools extremely important,” Kanders said. 

      A new study conducted by researchers from Uppsala University explored the relationship between teens’ mental health, bullying, and obesity. The researc...

      Midway through the spring homebuying season, the market is still red-hot

      Homes are selling faster and for higher prices than ever before

      Spring is typically the busiest time for home-buying, but realtors say there doesn’t appear to be a prime season anymore. Since last year, demand for housing has been off the charts.

      At the midpoint of what is typically the spring homebuying season, real estate broker Redfin reports previous records are falling by the wayside. The median home sale price over the last four weeks increased a record 21% year-over-year to $348,500. Asking prices set another record, rising to $360,975.

      Those numbers may not be indicative of overall home prices, however. It’s just that there aren’t that many lower-priced, entry-level homes being sold these days. The homes that are selling are among the most expensive and they’re pushing up the averages.

      In the last four weeks, homes have spent an average of just 19 days on the market before going under contract. That’s 16 days faster than the same period last year.

      Over the asking price

      A record-high 48% of homes sold for more than their list price, up 20% from the same period a year earlier. In fact, the average sale-to-list price ratio is 101.4%, suggesting the average seller is getting more than the asking price.

      If you’ve driven past a house with a new for sale sign in the yard and find a “sold” sign the next time you drive by, it’s not an illusion. Forty-five percent of homes had a contract within one week of hitting the market.

      For Redfin Chief Economist Daryl Fairweather, the housing market is emerging as a warning signal for the overall economy and there seems to be no end to rising prices.

      "Right now we are seeing a substantial increase in home prices, which could be a precursor to more widespread inflation throughout the economy," Fairweather said. "Lumber prices are surging, which has driven up prices of new homes and indirectly drives up prices of existing homes. As states lift their pandemic restrictions, we will likely see more shortages and price increases on everything from gasoline to hotel stays and food.”

      Mortgage rates are falling

      Despite rising prices, mortgage rates may draw still more buyers to the highly competitive housing market. After rising over the last few weeks, mortgage rates have dropped below 3% again.

      Freddie Mac reports the average 30-year fixed-rate mortgage has fallen to 2.96%, two basis points lower than the week before. A year ago, the rate was 3.26%.

      For current homeowners, that could pose an opportunity to save some money by refinancing. Sam Khater, Freddie Mac’s chief economist, says the lower rates are likely to keep drawing buyers to compete for the dwindling number of homes for sale.

      The combination of low and stable rates, coupled with an improving economy, is good for homebuyers,” Khater said. “It’s also good for homeowners.”

      Spring is typically the busiest time for home-buying, but realtors say there doesn’t appear to be a prime season anymore. Since last year, demand for housi...

      U.S. opens investigation into steering issues in Honda Accords

      Regulators are probing the issue now to see how widespread it is

      Regulators are sending a safety notice to Honda Accord owners -- the U.S. has opened an investigation into potential steering issues in over 1.1 million of the sedans produced between 2013 and 2015. Officials say the probe stems from more than 100 reports about vehicles that lost steering control. 

      The original report alleged that the loss of control occurs without warning or driver input while operating the vehicle under normal driving conditions. Only two crashes and two injuries have been reported so far, but the National Highway Traffic Safety Administration (NHTSA) is opting to inspect the issue now in case the problem is more widespread.

      The number, frequency, and consequences of the issue are the factors that will determine if the NHTSA will demand a total recall. As of press time, Honda had not issued any public comment regarding the situation. However, a Honda spokesperson told Car and Driver that the automaker “takes all safety-related concerns seriously and will continue to cooperate with NHTSA through the investigation process, as we also continue our own internal review of the available information."

      Accord issues continue to mount

      Owners of a 2013-2015 model Accord have a right to be concerned about the safety of their car. Earlier this year, American Honda Motor Co. recalled 220,000 of its 2013-2015 Accords. 

      The reason behind that recall was a problem with the vehicles’ drive shaft corroding and causing a sudden loss of drive power. The cars could also roll away if the parking brake was not applied before the driver exited the vehicle, which increased the risk of a crash or injury.

      Regulators are sending a safety notice to Honda Accord owners -- the U.S. has opened an investigation into potential steering issues in over 1.1 million of...

      Coronavirus update: New infections fall, mask rules may soon be loosened

      However, consumers shouldn't throw away their masks just yet

      Coronavirus (COVID-19) tally as compiled by Johns Hopkins University. (Previous numbers in parentheses.)

      Total U.S. confirmed cases: 32,709,612 (32,684,808)

      Total U.S. deaths: 581,775 (581,756)

      Total global cases: 158,434,226 (153,969,379)

      Total global deaths: 3,295,077 (3,280,336)

      New infections fall sharply over the weekend

      The U.S. continues to make strides in getting the coronavirus (COVID-19) pandemic under control. An analysis of data compiled by the COVID-19 Tracking Project at Johns Hopkins University shows that the growth rate of new cases fell below 41,000 during the weekend, hitting its lowest rate since September.

      The Centers for Disease Control and Prevention (CDC) credits the steady pace of vaccinations with dramatically reducing the rate of infections. While new cases are falling, vaccinations are occurring at a rate of about 2 million a day, which is about two-thirds of what it once was.

      The emphasis is now on vaccinating younger adults, who have been slower to roll up their sleeves. Despite that, the CDC reports that 58% of the population over the age of 18 has now had at least one dose of the vaccine.

      Biden edges toward relaxing mask guidelines

      As more Americans get vaccinated, many are asking why they have to keep wearing a face mask. In Florida, Gov. Ron DeSantis has dropped the statewide mask mandate, asking why a vaccinated person needs to wear one if the public trusts the vaccine.

      The Biden administration isn’t prepared to take that step just yet, but it appears to be edging in that direction. Top officials say the key is getting more people vaccinated.

      “I would say we are turning the corner,” Jeff Zients, President Biden’s Covid-19 coordinator, said on CNN’s “State of the Union.” 

      Don’t throw your mask away just yet

      Millions of vaccinated Americans are looking forward to taking off their face masks as state after state relaxes mitigation rules. But Dr. Anthony Fauci, head of the National Institute for Allergy and Infectious Diseases (NIAID) says you should hang onto your face covering.

      On NBC’s Meet the Press on Sunday, Fauci raised the possibility that Americans would be asked to wear masks on “a seasonal basis,” not to combat COVID-19 necessarily, but to limit cases of the flu.

      “It is conceivable that as we go on a year or two or more from now that during certain seasonal periods when you have respiratory borne viruses like the flu, people might actually elect to wear masks to diminish the likelihood that you’ll spread these respiratory borne diseases,” Fauci said.

      Novovax reports COVID/flu vaccine shows positive results

      While the U.S. appears to have plenty of vaccines to combat COVID-19, Novovax reports positive results on its vaccine that is designed to prevent both the coronavirus and the flu. In a preliminary analysis, the combination vaccine demonstrated positive immune responses to both influenza and SARS-CoV-2. 

      A write-up on the results noted that the vaccine elicited robust responses to both influenza A and B and protected against the SARS-CoV-2 virus. Clinical studies of the combination vaccine are expected to begin by the end of the year.

      "We believe that this novel combination vaccine candidate, which leverages Novavax's technology platform and Matrix-M adjuvant, could be an important future tool in the long-term fight against both of these harmful respiratory viruses," said Dr. Gregory Glenn, president of Research and Development at Novavax.

      Survey: Millennials lead post-pandemic travel surge

      Airline and cruise bookings are already off the charts. The hospitality industry projects huge gains in 2021 as Americans shake off the pandemic blues and travel again.

      A new survey from TripAdvisor shows that it’s millennials leading the charge, especially when it comes to luxury travel. Respondents earning $100,000 or more are most likely to travel in 2021 - with over a third (34%) having already booked a trip for 2021, compared to less than one in five (19%) of the remaining population.

      Millennials earning above $50,000 are the most eager to travel by air. Three out of five of those surveyed are considering domestic air compared to 41% among other age groups.

      Around the nation

      • New Jersey: State health officials, who greenlighted the state’s reopening later this month, report that more than 3.5 million people have been vaccinated so far -- 52% of the state’s adult population. On Sunday, there were 673 confirmed new cases and 13 deaths.

      • Michigan: Gov. Gretchen Whitmer, who faced backlash from small businesses for her tough COVID-19 restrictions, has now tied reopening plans to the state’s vaccination rate. Whitner says she will begin easing restrictions once the state achieves a 55% vaccination rate.

      • Arkansas: State health officials have expressed concern that most prison workers in the state have not yet been vaccinated. Statistics show that the vaccination rate among guards and other workers in the state’s correctional institutions remains below 50%.

      Coronavirus (COVID-19) tally as compiled by Johns Hopkins University. (Previous numbers in parentheses.)Total U.S. confirmed cases: 32,709,612 (32,684,...

      Cyberattack shuts down major gasoline pipeline

      The Colonial Pipeline moves fuel from Texas to New Jersey

      Gas prices could move higher, at least temporarily, after a major pipeline supplying fuel to the East Coast of the U.S. was closed over the weekend due to a cyberattack.

      The Colonial Pipeline, which stretches from the Gulf Coast to New Jersey and moves millions of gallons of fuel, had to be shut down when hackers launched a ransomware attack against the company that operates it. 

      The company said it has not yet been able to uncover any evidence that the attackers were able to penetrate the pipeline’s vital systems. The company shut down the pipeline out of an abundance of caution.

      “In response, we proactively took certain systems offline to contain the threat, which has temporarily halted all pipeline operations and affected some of our IT systems,” Colonial said in a statement

      FBI investigating

      The company said it acted immediately to engage a cybersecurity firm to investigate. At the same time, it notified the FBI. A spokesman for the agency told the Wall Street Journal that the agency is working closely with Colonial to make sure its systems remain secure from attack.

      “Colonial Pipeline is taking steps to understand and resolve this issue,” the company said. “At this time, our primary focus is the safe and efficient restoration of our service and our efforts to return to normal operation. This process is already underway, and we are working diligently to address this matter and to minimize disruption to our customers and those who rely on Colonial Pipeline.”

      But closing the 5,500 mile-long pipeline has cut off a major artery of fuel across the Southeast and up the Atlantic Coast. Depending on how long the shutdown continues, fuel supplies could begin running low and prices could begin to rise. 

      Advice for consumers

      Patrick DeHaan, head of petroleum analysis at GasBuddy, advised motorists served by the pipeline on Sunday not to panic.

      “Rushing out and filling your tank will make the problem much much more acute and likely double or triple the length of any supply event if it comes to that,” he tweeted.

      The Colonial Pipeline moves 100 million gallons of gasoline, diesel fuel, and other products each day, so a lengthy shutdown would be noticeable at the gas pump in a highly populated area of the country. The company noted that it moves nearly half the region’s fuel on a daily basis.

      In 2017, Hurricane Harvey forced a shutdown of the Colonial Pipeline, resulting in a temporary price surge at the gas pump. Months earlier, Colonial suffered a break in its Line 1 in Georgia, interrupting fuel supplies to the East Coast. It resulted not only in rising prices but caused lines at gas stations in Tennessee when some stations' tanks ran dry. It took several weeks for prices to return to normal.

      Gas prices could move higher, at least temporarily, after a major pipeline supplying fuel to the East Coast of the U.S. was closed over the weekend by a cy...

      Chipotle to raise pay rate to $15 per hour in bid to attract more workers

      Wage increases will be rolled out over the next few weeks

      Chipotle has announced that it’s raising pay for employees as it looks to grow its workforce by 20,000.

      On Monday, the company said it will pay new and existing hourly and salaried employees an average of $15 an hour by the end of June. The wage increases will be rolled out throughout the next few weeks. Hourly crew members’ starting wages will range from $11 to $18 per hour.

      The restaurant chain said employees will also have opportunities to advance to a “restaurateur” position (the highest general manager position in the system) within a three-and-a-half year timeframe, with an average compensation of $100,000 a year. The company has also introduced employee referral bonuses of $200 for crew members and $750 for apprentices or general managers. 

      A virtual career fair for prospective employees will be held this Thursday, May 13, from 10 a.m. to 1 p.m. PT on Discord, a social platform. The event will include live sessions with Chipotle employees that highlight benefits, career paths, cooking demos, and more.

      "Chipotle is committed to providing industry-leading benefits and accelerated growth opportunities, and we hope to attract even more talent by showcasing the potential income that can be achieved in a few short years," said Marissa Andrada, chief diversity, inclusion, and people officer, in a statement. "We're looking for people who are authentic, passionate and want to help cultivate a better world through real food and real personal development."

      Restaurants vying for workers 

      Chipotle and other restaurant chains are in the midst of a labor shortage brought on by the pandemic. Major chains including IHOP, Applebee’s, Taco Bell, and KFC have all announced their intention to bring on more workers, and smaller businesses are struggling as well.

      “Finding new hires is a skillset that it was not 16 months ago,” Matt Glassman, co-owner of The Greyhound Bar & Grill in Los Angeles, told CNBC last week. “We have had an unbelievable amount of people schedule an interview and not show up. We have never had this problem before.”

      Although first-time claims for unemployment benefits are declining, many people remain unemployed for different reasons. Many parents have cited the need to balance a household budget while considering child care costs and schooling needs; other people may be remaining unemployed due to better unemployment benefits. 

      Chipotle has announced that it’s raising pay for employees as it looks to grow its workforce by 20,000.On Monday, the company said it will pay new and...

      Face masks could eventually be worn seasonally, Fauci predicts

      The use of face masks led to a sharp drop in the number of other common viruses this year

      Dr. Anthony Fauci, the nation’s top infectious disease expert, believes face masks could eventually be worn on a seasonal basis after the COVID-19 pandemic draws to a close. 

      On NBC’s “Meet the Press” on Sunday, Fauci noted that the public has more or less gotten used to wearing masks and that their increased use led to a steep decline in the spread of other viruses, like the flu. He said there’s a possibility that people could decide to continue wearing masks in public to reduce their risk of catching seasonal illnesses that spread through the air. 

      “We’ve had practically a nonexistent flu season this year merely because people were doing the kinds of public health things that were directed predominantly against covid-19,” Fauci said. "So it is conceivable that as we go on a year or two or more from now that during certain seasonal periods when you have respiratory borne viruses like the flu, people might actually elect to wear masks to diminish the likelihood that you’ll spread these respiratory borne diseases." 

      Contingent on rising vaccination rate

      The Centers for Disease Control and Prevention (CDC) recently updated its guidance regarding masks to say that fully vaccinated people can go mask-free while exercising and taking part in small outdoor gatherings. 

      The agency still recommends that fully vaccinated people wear a mask in crowded areas, such as stadiums and concert venues, where unvaccinated people could be present. Fauci said Sunday that he predicts next Mother’s Day will be much more normal if “an overwhelming proportion” of the population gets vaccinated. 

      “I hope that next Mother’s Day, we’re going to see a dramatic difference than what we’re seeing right now. I believe that we will be about as close to back to normal as we can,” Fauci told ABC’s “This Week.”

      President Biden has set a goal of getting at least one COVID-19 shot into the arms of 70% of U.S. adults by the Fourth of July. To help boost vaccination rates, the White House recently called for states to make vaccines available on a walk-in basis and directed many pharmacies to do the same. 

      If 70% of the nation is at least partially vaccinated, health officials say there would be a dramatic reduction in COVID-19 cases over the summer. This could ultimately result in a feeling of being close to pre-pandemic normalcy.

      Dr. Anthony Fauci, the nation’s top infectious disease expert, believes face masks could eventually be worn on a seasonal basis after the COVID-19 pandemic...

      Ethereum hits $4,000 value for the first time

      The cryptocurrency may be hot right now, but it’s been on roller coaster rides before

      If cryptocurrency investors were looking for a way to balance their Bitcoin holdings, they may have found the answer. Ethereum, the world’s second-most held cryptocurrency, shot up 7.43% in the last 24 hours -- taking it past the $4,000 value mark for the first time.

      Bitcoin’s not going away, mind you. It currently holds 43.86% of the crypto market value, a decrease of 0.83% since yesterday, according to Coinmarketcap. However, the overall global crypto market cap saw a 2.63% increase since yesterday, sitting now at $2.46 trillion.

      What’s the difference between Ethereum and bitcoin?

      Unless you really get into the weeds of the cryptocurrency world, there isn’t much of a difference between Ethereum and Bitcoin for the common investor. The biggest differentiator comes from Ethereum’s use of “decentralized finance” (often referred to as DeFi). DeFi is a blockchain-based method of finance that doesn’t rely on central financial middlemen such as brokers or banks. Instead, it utilizes smart contracts on blockchains, the distributed computer system that underpins many cryptocurrencies. And guess what is the most common among those DeFi’ers? Ethereum.

      Ethereum is also reaping rewards as non-fungible tokens, or NFTs. NFTs have become a digital darling in the past year, allowing digital files like art and sports memorabilia to be sold and auctioned online. 

      Think before you leap

      Ethereum may be at $4,000 now, but it’s had some serious roller coaster rides in the past and could again. In early 2018, the cryptocurrency’s price ballooned to nearly $1,500 but wound up under $100 by December 2018.

      If all the Ethereum action has you thinking about buying some, make sure you do your homework. Whether it’s Bitcoin, Ethereum, or Dogecoin, there is still a high amount of volatility when it comes to holding cryptocurrency assets. Consider checking out ConsumerAffairs’ list of  Bitcoin IRA companies to connect with experts that can put you on the right path.

      If cryptocurrency investors were looking for a way to balance their Bitcoin holdings, they may have found the answer. Ethereum, the world’s second-most hel...