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Federal Reserve will reduce bond purchases by $10B in January

Updated: 12/18/2013 - The reduction is a signal that Fed policymakers are ready to ease their massive support for the economy provided since the Great Recession. The bond purchases have helped keep long-term interest rates low to encourage more borrowing and spending.

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Elf craze making for a new Christmas tradition

Posted: 12/19/2013 - It's that time of year when there is Christmas magic floating in the air. Chances are if you have a little one at home you also have a wildly popular Elf on the Shelf. He appears each day as a look out for Santa, keeping watch for those who should be on the naughty or nice list. WKYT's Amber Philpott has a rare look inside the world of these elves who have become just as special as good Ole Saint Nick himself.

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Officials: Big Sur fire is 20 percent contained

Posted: 12/18/2013 - Los Padres National Forest spokeswoman Lynn Olson says the blaze that began early Monday has destroyed 22 buildings. About 14 of those structures were homes, including that of Big Sur Fire Chief Martha Karstens.

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2 winning tickets in $636M Mega Millions drawing

Posted: 12/18/2013 - Lottery officials say winning tickets have been sold in California and Georgia for the $636 million Mega Millions jackpot, the second-largest lottery prize in U.S. history.

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