The Major Honda Recall Video

The Major Honda Recall

Tags: The Major Honda Recall,financial news,Honda pedal problems,Honda Recall,Honda recalling cars,Honda technical problems,Money Watch,MoneyWatchThe Major Honda Recall

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The automaker is recalling more than 400,000 cars due to brake pedal problems. Plus: Feds keep interest rates steady at almost zero percent.

Transcript

Honda is recalling more than 400,000 cars because of a problem with the break pedal. Air con entered the unit that controls breaking. That can cause the break pedal to feel soft. Drivers complain that they have to push the break pedal lower and lower over time. Honda says there have been no accidents reported. Recalled models include 2007 and 2008 Odyssey minivans and Element light trucks. As expected, the Federal Reserve kept rates steady at near zero percent. Policymakers promise to hold rates at record lows for an extended period. They also said the job market is stabilizing. The news gave the markets a small lift, the Dow finished today at 43 points and the NASDAQ up about 16. Winter blizzards kept home builders at bay last month. The government says construction of new homes and apartments fell 5.9% in February. The decline highlights the challenges facing builders as they struggle to rebound from the worst housing slump in decades. Federal regulators are pitching a plan to make your internet connection faster. They also want to bring high speed internet access to millions more Americans. The FCC will need corporate support and legal clearance to accomplish its goals. Twitter is developing a China-based website. During a technology panel in New York, the company’s founder said it’s just a matter of time before the Chinese language version of Twitter becomes available. China web surfers are currently blocked from seeing Twitter due to censorship firewalls. For more headlines, log on to cbsmoneywatch.com. In New York, I’m Farnoosh Torabi.

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