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Major airlines cancel, change flights to US over 5G dispute

It was not clear how disruptive the cancellations would be. Several airlines said they would try to merely use different planes to maintain their service.

US inflation soared 7% in past year, the most since 1982

Inflation jumped in December at its fastest year-over-year pace in nearly four decades, surging 7% and raising costs for consumers, offsetting recent wage gains and heightening pressure on President Joe Biden and the Federal Reserve to address what is increasingly Americans' central economic concern.

Question for Fed: Has it waited too long to fight inflation?

"There is a substantial risk that the Fed is sufficiently behind the curve that it will need to face the challenge of letting inflation remain persistently high or risk a recession," said Tim Duy, chief U.S. economist at SGH Macro Advisors.

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