Economy

"We're sorry to every family we've let down," wrote CEO Robert Ford. The shuttered plant at the heart of the shortage will reopen in June, but it may take months before production is back to normal.

But Abbott has said that, after production resumes, it could take about two months before new formula begins arriving in stores. The company's factory has been closed due to contamination problems.

Just a handful of formula makers dominate the industry so a single plant shutdown can lead to empty shelves.

Abbott, one of the largest formula-makers in the U.S., has reached an agreement with the government to bring a closed factory back on line. And the FDA is easing some restrictions on imported formula.

The state’s poorest mothers are paying hundreds of dollars out of pocket when they find baby formula because they say they can’t risk waiting for the exact brand and size container covered by Texas’ Women, Infant and Children program.

During the past two years, home prices nationally have soared more than 30%. Rising mortgage rates make affording a home even harder. That has many people wondering if we're in another housing bubble.

The average out-of-stock rate for baby formula at retailers across the country was 43% during the first week of May, according to the firm Datasembly.

U.S. employers added 428,000 jobs in April, as the unemployment rate held steady at 3.6%.

The yearlong program will provide $1,000 a month to 85 low-income households. The Austin City Council left the door open to expand the program after it's evaluated.

If passed, both initiatives would amend the Texas Constitution. According to economists and experts, the changes could help slow down property tax increases.