Fed Chair Jerome Powell signals path to rate cuts at Jackson Hole
Federal Reserve Chair Jerome Powell has been under pressure from President Trump to lower the central bank's benchmark interest rate.
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Federal Reserve Chair Jerome Powell has been under pressure from President Trump to lower the central bank's benchmark interest rate.
The Fed is maintaining its benchmark interest rate in the range of 4.25% to 4.5%, where it's been parked since December.
Investors are closely watching the Federal Reserve as it meets in Washington, D.C., to announce what's next for interest rates. President Trump is pushing the board to reduce rates.
The National Association of Realtors say high home prices and high mortgage interest rates are turning away potential buyers. Home prices have increased for 22 straight months, and interest rates are nearly 6.9%.
The Federal Reserve kept its key interest rate unchanged at its May meeting on Wednesday, brushing off President Trump’s demands to lower borrowing costs.
The Federal Reserve on Wednesday moved to lower its benchmark rate by 0.25 percentage points, but said it plans fewer cuts in 2025.
The Federal Reserve just lowered its benchmark rate by 0.50 percentage points. Here's how the move could impact your finances.
The Fed's decision will lower borrowing costs from a 23-year high as the central bank pivots to shoring up economic growth.
Federal Reserve Chair Powell, speaking at a conference in Jackson Hole, Wyoming, said the timing and pace of rate cuts will depend on economic data.
College students can expect some sticker shock as interest rates on federal student loans will increase on July 1.
Inflation is moving sideways, remaining above 3% for the first three months of 2024. Here's how that could impact your finances.
One Fed official on Thursday said if the economy continues to demonstrate strength, "Why would we cut rates?"
The Federal Reserve marked its first rate decision of 2024 by keeping its benchmark interest rate unchanged.
In the past year and a half, the Federal Reserve has increased interest rates to the highest level in 22 years in an attempt to ease inflation. The Fed is trying a new strategy. CBS News business analyst Jill Schlesinger reports.
Cubs manager Craig Counsell said the plan is to let their players have some freedom, challenging balls and strikes in Cactus League games this spring.
Tamika Odeh, 44, is accused of putting an 8-year-old student in a chokehold at Parker Elementary School last year.
The victim's identity was not released as of Saturday night.
Ofelia Torres, 16, died on Friday from Stage 4 alveolar rhabdomyosarcoma, a rare and aggressive form of cancer, her father's lawyer confirmed.
Northwestern, which led second-ranked Michigan by 16 points at home before losing 87-75 on Wednesday, was up eight on the Huskers in the first half.
It's the second time in as many weeks that government funding has lapsed as Democrats and the White House remain at an impasse over immigration enforcement policies.
Cook County Board President Toni Preckwinkle is seeking a fifth term in office and is facing off against longtime Chicago Ald. Brendan Reilly (42nd) in the Democratic primary.
A federal judge has ruled that President Donald Trump's administration cannot pull back $600 million in public health grants allocated to four Democratic-led states, including Illinois, for now.
President Trump pardoned five former NFL players - one posthumously - for crimes ranging from perjury to drug trafficking.
From Kat Abughazaleh to Jason Friedman, some surprising names lead in fundraising in Illinois' primary elections.
This week marks Identity Theft Awareness Week, and Illinois Comptroller Susana Mendoza emphasized some safety tips Monday for avoiding and dealing with identity theft.
A controversial data center in Naperville, Illinois, could be the cause to pack a city council meeting there on Tuesday night.
Police in the west Chicago suburb of Geneva are warning of a scam involving spoofed phone numbers.
Protesters on Tuesday were cranking up the heat on Peoples Gas over a recently proposed rate hike that would add an additional $10 to $11 a month to utility bills.
A lawsuit filed late last month took Chicago-based McDonald's to task over the McRib sandwich, calling its name a form of false advertising.
The Trump administration's new discounted drug platform isn't a game-changer for consumers, health care experts said.
Ann & Robert H. Lurie Children's Hospital announced this week that it is planning to open a new pediatric hospital in the west Chicago suburb of Downers Grove.
It has been nearly six years since the start of the COVID-19 pandemic, and one of the many questions doctors are still working to answer concerns the long-term effects.
Leaders from Cook County, the Illinois Department of Human Services, and the Greater Chicago Food Depository denounced changes to the Supplemental Nutrition Assistance Program on Wednesday.
The University of Chicago Medicine Comprehensive Cancer Center has received a grant from The Ralph Lauren Corporate Foundation for a new cancer center.
With his name now hanging in the rafters, former Chicago Bulls guard Derrick Rose is helping the United Center with its major redevelopment.
A potential bidding war is taking shape for the Daily Herald, the newspaper of record for suburban Chicago.
A Near West Side diner known for drawing in Blackhawks fans and players is up for sale.
January may be the coldest time of the year, but Chicago is already looking forward to summer farmers' markets.
A development proposal issued this month calls for the replacement of a building housing a Giordiano's pizzeria in Chicago's Lakeview neighborhood with a new mixed-use building with 28 residential units.
"Dawson's Creek" and "Varsity Blues" star James Van Der Beek has died at 48 years old.
The 31-year-old Puerto Rican artist Bad Bunny took the stage on Sunday dressed in all white, donning a jersey with his last name, Ocasio, and the number 64.
Brad Arnold, the founder and lead singer of the 3 Doors Down has died following "his courageous battle with cancer," the rock band announced Saturday on social media.
Bad Bunny took the stage at halftime for the 2026 Super Bowl. Here's who else performed at Super Bowl 60.
Gamers across the world can now recreate drone strikes in Ukraine from the comfort of their own home, with this newly released game.
Bright and beautiful skies Sunday with highs approaching the upper 50s inland, and lower 50s near the lake.
The restaurant says social media has helped attract a whole new generation of customers.
Congress went home for the holiday weekend without passing a budget bill.
Chicago police said the teen was in the bedroom of a residence when he was shot in the head by an unknown person.
At least three vehicles were involved, one being a former school bus that was converted into an RV.
Officials said one person was on board the plane, but did not say if they survived.
Ofelia Torres, 16, died on Friday from Stage 4 alveolar rhabdomyosarcoma, a rare and aggressive form of cancer, her father's lawyer confirmed.
The Cook County Crime Stoppers are canvassing areas on the South Side where police are investigating two separate homicides.
Tamika Odeh, 44, is accused of putting an 8-year-old student in a chokehold at Parker Elementary School last year.
The victim's identity was not released as of Saturday night.
A state lawmaker is joining the growing call for accountability from the Illinois Department of Children and Family Services about past abuse allegations before an 8-year-old boy's murder.
Chicago's rodent problem is well known, but a new pilot program testing rat birth control to curb the population in problem areas is underway to help rein it in.
From Kat Abughazaleh to Jason Friedman, some surprising names lead in fundraising in Illinois' primary elections.
The move means the United States Environmental Protection Agency will no longer regulate greenhouse gases emitted from sources like cars, trucks and power plants.
CBS News Chicago is tracking what led to the death of an 8-year-old boy in Round Lake Beach and whether state officials were aware of any red flags before his murder.
Cubs manager Craig Counsell said the plan is to let their players have some freedom, challenging balls and strikes in Cactus League games this spring.
Northwestern, which led second-ranked Michigan by 16 points at home before losing 87-75 on Wednesday, was up eight on the Huskers in the first half.
A 19-game improvement last season saw a lot of White Sox players make their Major League debuts, and one of the team's top prospects is working for that same opportunity this year.
While their overall expectations might be much different, both the Cubs and White Sox are looking to make noticeable improvements in 2026 as they ramp up spring training in Arizona.
With his name now hanging in the rafters, former Chicago Bulls guard Derrick Rose is helping the United Center with its major redevelopment.
The FBI and sheriff's department have been investigating the disappearance of Nancy Guthrie, the mother of "Today" show co-host Savannah Guthrie, for nearly two weeks.
A bustling downtown neighborhood has been left on edge after a brutal armed robbery in broad daylight. West Loop leaders and business owners were speaking out on Friday about the attack.
President Trump pardoned five former NFL players - one posthumously - for crimes ranging from perjury to drug trafficking.
Authorities on Thursday released the first physical description of a male suspect wanted in connection with the Arizona disappearance of Nancy Guthrie.
A man pleaded guilty Thursday to the murders of two brothers — both of them U.S. Marines — in Cicero, Illinois, more than three decades ago.
