A new story from WTOP 24 Hour News


Government says consumer prices rose last month, and they were up 6% over a year earlier. Mark Hamrick of bank rate dot com says the inflation information is a key ingredient for the fed. The Federal Reserve has a needle to thread. Consistent with its mandate for stable prices, it still needs to see inflation fall further while also ensuring the stability of the financial system. The bank failures of the past week have pushed financial stability issues to center stage, but inflation remains in the spotlight. A class action suit has been filed against the parent company of the bank that failed last week Silicon Valley alleging the company did not disclose the risks posed by fast rising interest rates. Facebook's parent company is cutting more jobs as we hear from CBS Jason Brooks, meta CEO Mark Zuckerberg announced in a blog post that the Silicon Valley company is cutting 10,000 jobs, as well as not filling 5000 open positions. The move comes only four months after meta laid off 11,000 workers with Zuckerberg blaming the heavy cuts on overspending by meta during the pandemic. Not a Washington, White House correspondent Stephen portnoy tells us there will be executive action on firearm background checks today from President Biden. Gun control advocates have long argued a loophole allows purchasers to skirt background checks by buying from small time sellers instead of licensed dealers. It's how a shooter and odes of Texas with a history of mental illness was able to buy an AR-15 that he used to kill 32 people in 2019. Last year's bipartisan gun safety law aims to tighten the loophole and today at the scene of the Monterey Park shooting, President Biden will sign an order further defining who profits from gun sales and must perform background checks. Much of the northeast is getting slammed with a late winter nor'easter. CBS lily Luciano is in Massachusetts watching the heavy snow fall and the wind blow. Power outages are the real concern. There are more than 75,000 customers in the region more than 20,000 in Massachusetts alone that have already lost power. And wind isn't even expected to pick up and really have that kind of impact on branches on power lines until the afternoon. Overseas, London correspondent Vicky Barker reports Britain's new monarch is putting his stamp on daily life there. The first postage stamps showing King Charles the third have gone on sale here. The new monarch silhouette appears on a set showing popular garden flowers. The new stamps replace a design showing the late queen silhouette which had been in use since 1968. On Wall Street, it's a better day for bank stocks and the Dow right now is up four ten and the S&P 500 is up 73. This is CBS News. Nobody should have to pay for one size fits all insurance coverage. Liberty mutual customizes your car and home insurance so you only pay for what you need. Liberty Mutual Insurance. 1203 on WTO on this windy and cold Tuesday, March 14. 36° now, as we try to get into the low 40s. Good afternoon, I'm Mark Lois. With the top local stories we're following this hour. The new advanced placement African American studies course was thrust into the national spotlight this year after it was rejected by Florida Republican governor Ron DeSantis administration. Next fall, some students in Montgomery county will be able to take that course. Superintendent monifa mcknight telling WTO, it should help those students understand how they see themselves in history. I am a big proponent of African American studies being supported and in our schools and in our school systems. That's superintendent monifa mcknight, who says their significant value in offering the AP class that's been scrutinized nationally. Educating our student is our primary responsibility and to honestly educate them, speaks to who we are. Ten Montgomery county schools are expected to offer the class next year, but a list is still being finalized. The course curriculum is still under review in Virginia to see if it includes any divisive concepts. Critics argue that course will indoctrinate kids, but for mcknight. We're not showing transparency in what we teach them. Then why should they believe in it? Scott gelman, WTO P news. Virginia's governor has ordered state education leaders to review the course's contents to see if they violate an executive order, which bans inherently divisive concepts in schools. Maryland's governor, Wes Moore is taking a big step toward requiring new cars sold in the state, the electric or plugin hybrid by 2035. The move comes after the state's former governor, delayed the rollout of a vehicle emissions program. The proposal got a unanimous vote from the state's air quality control advisory council. By ramping up electric vehicle sales, we can move and move fast to reduce greenhouse gases. State Republicans are not happy with the revised plan, introducing a bill to study how it will affect Maryland's economy and power grid. Minority leader Jason buckle issued a statement saying in part of the policy quote, it's based on California's economy, California's transportation needs and California's electrical grid. Meghan cloher, WTO P news. You've likely heard by now about that viral TikTok trend. It teaches people how to use a USB cord to steal Hyundai's and Kia's. It's caused a rash of car thefts across the country, and so now carmakers are working with local police departments to offer

Coming up next