Federal Reserve hikes key interest rate by another 75 basis points
The rise in the federal funds rate, which is what banks charge each other for overnight loans, comes as several significant pieces of economic data are released this week.
Watch CBS News
The rise in the federal funds rate, which is what banks charge each other for overnight loans, comes as several significant pieces of economic data are released this week.
Billionaire Elon Musk said Tuesday he intends to reverse Twitter's ban against former President Donald Trump. CBS News' Tanya Rivero and Dan Patterson break down this announcement with CBS News tech reporter Dan Patterson.
President Biden announced an unprecedented set of actions to ease the financial squeeze for fuel, including accessing about a third of the nation's strategic reserve until October. Errol Barnett has the latest on what this means for Americans.
"We are still clearly not out of the weeds."
Amazon and Netflix continue to do well as coronavirus isolates people in their homes, but many other companies have benefited or may soon.
Because of the weak economy, retailers are competing with each other to fill their positions.
President Donald Trump thinks the stock market would "crash" if he were impeached and "everybody would be very poor." Wall Street analysts beg to differ.
While a lot of the newly employed hold white collar positions, industry experts say about half of the 200,000 are low-wage jobs.
Is your small business protected from even the slightest of downturns? Use these solutions to provide stability to your cash flow.
A local consulting company is estimating the economic impact will be about $90 million in the Chicago area.
Stocks closed higher on Thursday, with all three of the major indices posting record closes, as investors sifted through encouraging economic data ahead of Friday's key jobs report.
The Federal Reserve raised interest rates on Wednesday for the first time since last year. It is a good sign for the economy, but may be a bad sign for your budget.
Want to buy your first house, but the down payment and closing costs are too steep? The city wants to help, with a handout worth thousands of dollars. CBS 2's Mike Parker explains how you can cash in.
A University of Illinois Chicago study delivers a sobering assessment on job prospects for Chicago's teenagers of color.
There's at least one silver lining, CBS 2's Dorothy Tucker reports.
About 300 veterans and their family members showed up at Union Station today for a job fair.
With Houston about to overtake Chicago as the third most populous city in the nation, a local planning expert has offered some bold ideas for putting the boom back in the local economy.
The latest annual study finds traffic has recovered completely since the economy tanked in 2008, and five of the 20 most congested roads in the U.S. are in the Chicago area.
Shock waves on the stock market as the three main U.S. indices suffered one of the steepest selloffs in years.
The fair was open to a variety of construction jobs, including pipefitters, operating engineers, electricians, represented by 22 labor unions.
CBS 2's Jim Williams reports there's one sector apparently booming again: manufacturing.
Chicago remains the third largest city in the U.S., but Census data show it's the slowest-growing of the top 10 cities with populations of 1 million or more.
A majority of those voters were pessimistic about the city's economy as they hit their polling places.
We're not talking about record profits for these small businesses. It's more about a confident feeling that the economy is chugging along at a pace where they can expand. CBS 2's Vince Gerasole reports.
Jason Samhan claims the same pair is stealing from several other homes in Oak Lawn.
The report came out Monday morning, just hours after a last-ditch effort by Gaetz to keep it under wraps.
The medics were not armed, and they did not know if the robber had a gun. Nevertheless, they managed to flip the script with their bare hands.
It may seem like a brave choice to launch a company making old-fashioned mechanical watches—when many wear new-fangled electronic alternatives. But the entrepreneurs' mission is bigger than just watchmaking.
At Yorktown Center in Lombard, just about everyone who spoke with CBS News Chicago on Monday said the act of going out and physically shopping puts them in the Christmas spirit.
The report came out Monday morning, just hours after a last-ditch effort by Gaetz to keep it under wraps.
A report by the House Ethics Committee found former Rep. Matt Gaetz paid multiple women, including a 17-year-old girl, for sex.
Several City Council members have called the school board's vote to fire Martinez without cause reckless and irresponsible.
Because Martinez was fired without cause, his contract allows him to stay on the job for another six months, and receive 20 weeks of severance pay.
Martinez was at Luther Burbank Elementary, 2035 N. Mobile Ave., as the Special Olympics recognized the school for excellence in inclusive sports programming.
At Yorktown Center in Lombard, just about everyone who spoke with CBS News Chicago on Monday said the act of going out and physically shopping puts them in the Christmas spirit.
Scammers know many of us are waiting for packages this holiday season.
The National Retail Foundation projected roughly 157 million people across the country would shop last-minute and try to wrap up their shopping lists.
The strike was deliberately authorized in the midst of the busy holiday delivery season nationwide for a reason—with the Teamsters Union pushing the company for a contract.
The oysters were sold as Fanny Bay, Buckley Bay, and Royal Miyagi.
Some 13 oz. bags of Lay's Classic Potato Chips may contain an undeclared allergen, according to the snack company.
The Wisconsin Department of Health Services announced Wednesday that it had detected presumptive positive human case of H5N1 in Barron County.
The sisters share a special bond of getting a second chance at life, which they both received at the age of 38 years old.
An even larger investment of $500 million is going toward 10 new outpatient facilities throughout the South Side that will add 85,000 health care appointments each year.
Scientists used the NanoGripper to grab particles from the SARS-CoV2 virus that causes COVID-19.
It may seem like a brave choice to launch a company making old-fashioned mechanical watches—when many wear new-fangled electronic alternatives. But the entrepreneurs' mission is bigger than just watchmaking.
At Yorktown Center in Lombard, just about everyone who spoke with CBS News Chicago on Monday said the act of going out and physically shopping puts them in the Christmas spirit.
Sunday night marked the last night in business for Strat's, after 38 years.
The National Retail Foundation projected roughly 157 million people across the country would shop last-minute and try to wrap up their shopping lists.
Baristas at the store at 5964 N. Ridge Ave. in Edgewater have been on strike since Friday calling for higher wages and better staffing.
Taylor also played two nights at Ravinia this past June.
Mindy Kaling and Morris Chestnut announced the nominations for the 82nd annual Golden Globes, with 10 nominees revealed live on CBS News.
The lawsuit alleges the unidentified girl was raped at a Video Music Awards afterparty in 2000.
Social media sleuths noticed that the house next door to the iconic "Home Alone" house in Winnetka is now up for sale.
Here are the top songs, artists, and albums streamed on Spotify in Chicago this year, according to communications agency Burson Global.
Shardaa Gray spoke with some of those who crowded into Yorktown Center in Lombard Monday.
A man claiming to have a gun tried to rob the two paramedics in the Auburn Gresham neighborhood early Monday. Darius Johnson reports.
Also in political headlines, three key members of Mayor Brandon Johnson’s inner circle are leaving. Political Reporter Chris Tye reports.
The Englewood First Responders partnered with Mr. Dad's Father's Club and Jack and Jill's Chicago chapter to fill a room with gifts.
Chief Meteorologist Albert Ramon has your 10 p.m. First Alert Weather forecast for Monday, Dec. 23, 2024.
The medics were not armed, and they did not know if the robber had a gun. Nevertheless, they managed to flip the script with their bare hands.
Shots were fired from inside a Nissan Altima.
A report by the House Ethics Committee found former Rep. Matt Gaetz paid multiple women, including a 17-year-old girl, for sex.
Jason Samhan claims the same pair is stealing from several other homes in Oak Lawn.
The report came out Monday morning, just hours after a last-ditch effort by Gaetz to keep it under wraps.
"San Antonio has really led the way in using aerial surveillance technology to prevent these activities," said Ald. Brian Hopkins (2nd), who chairs the City Council Public Safety Committee.
Customers said contractors from the company, Orange Elephant Roofing & Solar, seemed simply to disappear into thin air. But that is only the tip of the iceberg.
Survivors, advocates and experts have weighed in on Mayor Brandon Johnson's pledge to create a task force to study the safety of Black women in Chicago.
The Chicago-based company is accused of tricking diners about delivery fees, misleading drivers about pay, and listing restaurants on its platform without permission.
Now-retired Joliet police Sgt. Javier Esqueda was charged in connection with leaking squad car video of a man who died in Joliet police custody.
Illinois held the lead for nearly 30 minutes of game time, but a late rally by Missouri took the game down to the wire.
The Ramblers have lost two of their last three after and eight-game win streak to open the season.
Caleb Williams threw for 334 yards and two touchdowns following a string of shaky performances for the Bears.
Nikola Vucevic scored 19 points and 10 assists to lead the Bulls, whose season-high three-game winning streak ended.
Booser went 2-3 with a 3.38 ERA, one save and 43 strikeouts in 43 relief appearances with the Red Sox in his first season in the majors in 2024.
Jason Samhan claims the same pair is stealing from several other homes in Oak Lawn.
The medics were not armed, and they did not know if the robber had a gun. Nevertheless, they managed to flip the script with their bare hands.
Shots were fired from inside a Nissan Altima.
Luigi Mangione pleaded not guilty Monday to state charges in the murder of UnitedHealthcare CEO Brian Thompson.
In each incident, the burglars crashed a dark sedan into businesses and destroyed the front window or glass door.
