Emily Sullivan

Former Baltimore Mayor Catherine Pugh pleaded guilty to corruption charges on Thursday, a day after federal prosecutors unsealed an indictment accusing her of using a fraudulent children's book business to enrich herself and fuel her political career.

Pugh, 69, a Democrat who took office in 2016, acknowledged her guilt to conspiracy to commit wire fraud and conspiracy to defraud the government and two counts of tax evasion.

Anonymous hackers breached the city of Baltimore's servers two weeks ago. Since then, those servers' digital content has been locked away — and the online aspects of running the city are at an impasse.

Government emails are down, payments to city departments can't be made online and real estate transactions can't be processed.

By law, only you and the U.S. Postal Service are allowed to put things in your mailbox. But what if companies like FedEx and UPS could do it too?

That could happen under a recommendation by the Trump administration.

A White House task force said in December that USPS should "explore franchising the mailbox as a means of generating revenue."

The Postal Service could use the cash.

The partial government shutdown is inflicting far greater damage on the U.S. economy than the Trump administration previously estimated, the White House acknowledged.

President Trump's economists have now doubled projections of how much economic growth is being lost each week.

Updated at 4:03 p.m. ET

Despite enormous pressure from President Trump, the U.S. Federal Reserve announced Wednesday it is increasing interest rates by a quarter point.

The Fed said in a statement it is raising the key borrowing rate to a range of 2.25 percent to 2.50 percent — the highest level in a decade, when the economy was in the early stages of the financial crisis and the beginning of the Great Recession. The Dow ended the day down 352 points, or 1.5 percent, after the Fed announcement. The index was up nearly 300 points earlier.

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