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By DAVID KOENIG (AP Airlines Writer)

Boeing is telling airlines to inspect switches on pilots’ seats in its 787 Dreamliner jets after a published report said an accidental cockpit seat movement likely caused the sudden plunge of a LATAM Airlines plane flying to New Zealand.

Boeing said Friday it recommended that airlines inspect the motorized cockpit seats the next time they perform maintenance on their 787s. The aircraft manufacturer pointed to instructions that include how to disable motors that move the seats.

The company described its advisory as a “precautionary measure.” It did not link the memo to what happened this week on a LATAM Airlines flight between Australia and New Zealand.

The Federal Aviation Administration said, however, that the Boeing memo was issued “in response to the incident on LATAM Flight 800.” The FAA said it was convening a panel of experts to review Boeing’s message to airlines.

LATAM Airlines, based in Chile, initially said there was “a technical event during the flight which caused a strong movement.” In an update Tuesday, the airline said the plane “experienced a strong shake during flight, the cause of which is currently under investigation.” read more

Molly Smith | (TNS) Bloomberg News

Fresh data on inflation and unemployment filings gave Federal Reserve officials more reasons to hold off on cutting interest rates, even as retail sales suggested a slowdown in consumer spending.

Prices paid to U.S. producers topped forecasts in February, and fewer people applied for and received jobless benefits than previously thought, according to separate reports Thursday. That followed data earlier in the week that showed underlying consumer prices also rose at a brisk pace last month.

While another release indicated a weaker start to the year in consumer spending, the strength in the inflation and labor data support policymakers’ view that they need to see more progress before lowering borrowing costs. Fed officials, who have a dual mandate to maintain price stability and maximum employment, are widely expected to leave rates unchanged at a two-decade high for a fifth month at next week’s meeting.

“When the Fed is contemplating a series of rate cuts and is confronted by suddenly slower economic growth and suddenly brisker inflation, they will respond to the new news on the inflation side every time,” Chris Low and Mark Streiber of FHN Financial said in a note. “As long as wholesale inflation has stabilized or shifts higher and retail inflationary pressures continue, the Fed pause will stretch on.” read more

By JOSH BOAK (Associated Press)

WASHINGTON (AP) — Lori Shelton can’t fathom ever having the money to buy a home — and that’s a major reason why so many voters feel down on the economy ahead of this year’s presidential election.

Shelton, 67, drives an Uber to help pay rent in Aurora, Colorado. An advance on her pay covered her apartment’s security deposit. But it also cut into her next paycheck, leaving her bank account dangerously low when the rent was due — a cycle that never seems to end.

“I’m always one step behind,” said Shelton, her voice choking up. “It’s a nightmare, it’s a freaking nightmare right now.”

The United States is slogging through a housing affordability crisis that was decades in the making. At the root of this problem: America failed to build enough homes for its growing population. The shortage strikes at the heart of the American dream of homeownership — dampening President Joe Biden’s assurances that the U.S. economy is strong and underscoring the degree to which Republican Donald Trump, the former president and presumptive GOP nominee for 2024, has largely overlooked the shortage. read more