Congressional Report Slams Boeing, FAA for Deadly Crashes.
VAUSE: Official interest rates look set to be held at zero, or near zero, in the United States until the labor market recovers. That could be 2023. The Federal Reserve says the pandemic continues to weigh heavily on the economy, losing 11 and a half million jobs since February. Wall Street ended mostly lower following the Fed's cautious outlook. You can see the numbers there. Now, a U.S. House report found two fatal Boeing 737 Max crashes were, quote, "a horrific culmination of failures by Boeing and the Federal Aviation Administration. Lawmakers are calling for urgent reforms to improve how airplanes are certified. CNN's Pete Muntean has details.</s>PETE MUNTEAN, CNN CORRESPONDENT: So many new damning new details in the report, and what's so interesting is that it is not focused on the actions of the pilots leading up to these two 737 Max disasters but rather, years before at Boeing and the FAA. This quote from the 250-page report really sums this up perfectly. It says, it shows a disturbing pattern of technical miscalculations and troubling management misjudgments made by Boeing. It also enumerates numerous oversight lapses and accountability gaps by the FDA. The report highlights two such instances where Boeing engineers tried to downplay the significance of the MCAT system, the Maneuvering, Control and Augmentation System that's been at the heart of these two Max investigations. One instance, a Boeing test pilot, in a simulator encountered a 10- second physical struggle caused by the MCAT system that the report says ended in a catastrophic result. The report also details emails between Boeing engineers where they tried to give MCAT system considered as part of an existing system rather than a new one to avoid additional FAA scrutiny. Samya Stumo was 24 when she died on one of these crashes, and her father tells me Boeing and the FAA failed.</s>MICHAEL STUMO, DAUGHTER KILLED ON ETHIOPIAN AIRLINES FLIGHT: They're still hiding the ball like they did before and like they did through the crashes when they kept the plane in the air when they knew the thing was a killer plane, between the Lion Air crash and the Ethiopian crash that killed my daughter.</s>MUNTEAN: Recertification of the Max is taking place right now, and Boeing continues to stand by its design and says that, when that certification processes finishes, that the Max will be one of the most scrutinized aircraft in the history of aviation. There are meetings taking place right now in London between Boeing and regulators. The FAA says its process will not be rushed, and it has implemented numerous mandates to the 737 Max design. Not good enough for House Transportation chair Peter DeFazio. He says the entire FAA certification process needs to be completely revamped. Pied Muntean, CNN, Washington.</s>VAUSE: I'm John Vause. I'll be back at the top of the hour with a lot more of CNN NEWSROOM. In the meantime, WORLD SPORT is up next.