Here's what the Fed's interest rate pause means for your money
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
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After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
The president spoke less than 24 hours after the Senate approved the agreement in a bipartisan vote.
The legislation now goes to President Biden's desk, pulling the nation back from the brink of a financial crisis.
A majority of Democrats and a majority of Republicans voted in favor of the Fiscal Responsibility Act.
Rep. Thomas Massie broke with two other conservatives on the House Rules Committee to advance the legislation to the House floor.
The debt ceiling deal includes a provision to end the pandemic-related federal student loan payment pause
The House passed the bill to raise the debt ceiling Wednesday. Now, the Senate will take it up.
The debt ceiling deal has cleared both chambers of Congress and is headed to the president's desk.
After days of intense negotiations and weeks of talks, an agreement in principle has been reached to raise the debt ceiling.
Time is running short for House Republicans and the White House to reach an agreement on the debt ceiling to avoid default.
Everything from the stock market to Social Security payments could be jolted if the U.S. defaults on its obligations.
Even a short default could wipe out more than a million jobs, especially in parts of the U.S. that depend on federal spending.
"It's hard to overstate how bad it would be," one expert said. Everything from Social Security payments to your retirement fund could get hit.
Millions of Social Security recipients "need to be very careful" about spending because payments could be delayed, one expert said.
"No one should assume that the Fed can… really protect the economy and the financial system, and our reputation globally, from the damage such an event might inflict," Federal Reserve Chairman Jerome Powell said.
The U.S. may be unable to pay its bills within weeks if Congress does not raise or suspend the debt ceiling.
The treasury secretary moved up her estimate of when the U.S. risks defaulting on its debt.
The fight over the nation's debt limit could have very real implications on everything from your 401(k) to Social Security.
The federal government caps the amount of money it can borrow. But what are the risks if Congress fails to lift the debt limit?
Without congressional action, the U.S. could default as soon as June, she wrote in a letter Friday.
Bernanke says it's very important that Congress raise the debt ceiling so the government can pay its bills.
Grover is the ultimate in single interest constituencies in Washington. He is not accountable to anybody. He does not disclose who funds him, who pays him to do what he does or how much he is paid to blackmail GOP Members of Congress to sign his pledge not to raise taxes.
The debate over raising the debt limit is back, as House Republicans vote on a measure to block the increase on Wednesday.
President Obama signed a bill to raise the nation's borrowing limit on Tuesday, just hours after the Senate voted 74-26 in favor of the deal that will cut government spending by trillions and effectively raise the debt ceiling through the end of 2012.
Congress could vote today on a deal to avoid the first ever government default in U.S. history.
Downtown Detroit will begin to be a lot brighter just in time for the Christmas season.
Chloe and Helena Bennett were inside their Orion Township condo when it exploded Tuesday night.
Ten days ago, former Red Wings great Pavel Datsyuk was inducted into the Hockey Hall of Fame, and on Thursday, Detroit honored the man nicknamed the "Magic Man."
Lucas Raymond scored with 51 seconds remaining and the Detroit Red Wings beat the New York Islanders 2-1.
The commissioners voted 10-0 to reject the sheriff's proposal to hire three additional deputies focused on fugitive apprehension.
Downtown Detroit will begin to be a lot brighter just in time for the Christmas season.
On Thursday, Tlaib said the warrant "signals that the days of the Israeli apartheid government operating with impunity are ending."
Chloe and Helena Bennett were inside their Orion Township condo when it exploded Tuesday night.
Hoekstra, who was named chairman earlier this year, previously served as a U.S. House representative in Michigan's 2nd District and as the U.S. ambassador to the Netherlands during Trump's first term.
A 72-year-old man and a 75-year-old woman suffered critical injuries. Several others suffered minor injuries as well.
Local UAW members claim Stellantis is to blame for roughly 4,000 layoffs this fall, not poor market conditions.
Ford said Wednesday most of the job cuts would come in Germany and would be carried out in consultation with employee representatives.
On average, a 15-gallon tank of gas will cost Michiganders $46, which is $12 less than what they were paying from 2023's highest price in August.
General Motors announced Friday it was laying off nearly 1,000 salaried workers worldwide.
General Motors is laying off about 1,000 workers worldwide, shedding costs as it tries to compete in a crowded global automobile market.
Downtown Detroit will begin to be a lot brighter just in time for the Christmas season.
Tickets go on sale to the general public via Ticketmaster on Tuesday, Nov. 26.
The much-hyped fight pitting the 58-year-old Tyson against Paul, 27, shattered records but was marred by tech glitches.
Betty White will be honored with a stamp in 2025, the U.S. Postal Service announced on Friday.
Tickets go on sale Friday, November 22 at 10 a.m.
President-elect Donald Trump made the announcement Thursday evening after Matt Gaetz withdrew himself from consideration.
While some are bullish, other experts warn of investment risks as what comes next is impossible to know.
These are the president's top advisers and the highest-ranked U.S. officials. Here's what Cabinet members do — and some issues they're likely to face if confirmed by the Senate.
Warehouse chain follows rival Costco in raising amount its 7.5 million members must pay to shop at BJ's stores.
President-elect Donald Trump announced Gaetz as his nominee to be attorney general last week.
The school district introduced therapy dogs two years ago, and things have gone so well that it decided to add six more dogs.
Lattes and other espresso-based drinks may not be available at some McDonald's restaurants due to a glitch with coffee machines.
CDC data shows rates of Mycoplasma pneumoniae have surged in babies.
A WARN notice says that an agreement between the hospital and the Secretary of Health and Human Services would be terminated because the hospital was not in compliance with some of the Medicare Conditions of Participation.
A number of homes in parts of Metro Detroit are seeing elevated levels of lead in their drinking water, according to officials.
Ten days ago, former Red Wings great Pavel Datsyuk was inducted into the Hockey Hall of Fame, and on Thursday, Detroit honored the man nicknamed the "Magic Man."
Lucas Raymond scored with 51 seconds remaining and the Detroit Red Wings beat the New York Islanders 2-1.
The No.1 recruit had been committed to the LSU Tigers since January 2024.
Detroit's Tarik Skubal wins the AL Cy Young Award after leading the Tigers to its first playoff in a decade.
Hinch, a 50-year-old in his fourth season leading the Tigers, made the playoffs with a torrid second half despite losing quality players like right-hander Jack Flaherty at the July 30 trade deadline.
Hackel, the former Macomb County Sheriff, said the results of the 2024 contest are giving him more confidence than ever that he has the right stuff and resumé to be governor.
How did the Democrats lose so many races at once?
In Michigan, the Democrats have control of the governor's mansion and both state houses.
In Michigan, the Democrats now have control of the governor's mansion and both state houses.
Both party chairs also talked about the ground game as each looks for independent voters and those who haven't voted in a while they hope to inspire to show up on Nov. 5.
Downtown Detroit will begin to be a lot brighter just in time for the Christmas season. The city will host its 21st annual Christmas tree lighting ceremony on Friday.
The Michigan Wolverines will be bringing in a new force after flipping Belleville High School quarterback Bryce Underwood from LSU. Sports insider Alejandro Zuniga sat down with CBS News Detroit to discuss what's next for the team.
Within minutes, life completely changed for sisters Chloe and Helena Bennett. They were inside their Orion Township condo that exploded Tuesday night.
Ten days ago, former Red Wings great Pavel Datsyuk was inducted into the Hockey Hall of Fame, and on Thursday, Detroit honored the man nicknamed the "Magic Man."
The Macomb County Board of Commissioners has rejected a proposal to create a crime suppression unit for the sheriff's office. The commissioners voted 10-0 to reject the sheriff's proposal to hire three additional deputies focused on fugitive apprehension.