Inside Littoral, the Navy's Most Controversial Ship

July 22 (Bloomberg) -- The U.S. Navy's USS Independence Littoral Combat Ship, one of two of the first vessels completed under a $34 billion program to build a 52-ship fleet, will be under pressure this week as a House Armed Services Committee holds a hearing July 25 on production. The projected cost of each vessel has more than doubled to $440 million. The USS Independence, seen in San Diego and designed for agile maneuvers in shallow waters, was built by General Dynamics Corp. and Austal Ltd. (Source: Bloomberg)

Former Yellen Adviser Says Recession a ‘Live Possibility’
51:07 - Chair Janet Yellen said the Federal Reserve still expects to raise interest rates gradually while making it clear that continued market turmoil could throw the central bank off course from the multiple increases that policy makers have forecast for 2016. Andrew Levin, an economics professor at Dartmouth College in Hanover, New Hampshire, and a former policy adviser to Yellen when she was the Fed vice chair, speaks to Bloomberg’s Manus Cranny and Anna Edwards on “Countdown.”
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