Investors are panicked over banks. Will the Fed make things worse?
Inflation's still high, but analysts warn that further rate hikes from the Fed could lead more more banks to topple.
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Inflation's still high, but analysts warn that further rate hikes from the Fed could lead more more banks to topple.
The government said Wednesday that retail sales slipped 0.4% after jumping a revised 3.2% in January, helped by an increase in auto sales.
All deposit accounts at Silicon Valley Bank and Signature Bank in New York will be guaranteed, the Federal Reserve, Treasury Dept. and FDIC said in a joint statement.
U.S. employers posted 10.8 million job openings in January, indicating the American job market continues to run too hot for the inflation fighters at the Federal Reserve.
As the spring homebuying season approaches, affordability is at its lowest point in history, one economist said.
Amid a growing jobs gap, companies like DTE are teaming up to help the cause. Hear from Jerry Norcia - president/CEO of DTE Energy, Nicole Sherard-Freeman, group executive of City of Detroit's Job and Economy Team, Portia Roberson, CEO of Focus: HOPE, and James Shaw of IBEW Local 17 as they discuss one new program and, the overall jobs picture.
The U.S. economy expanded at a 2.7% annual rate from October through December, a solid showing despite rising interest rates and elevated inflation, the government said Thursday in a downgrade from its initial estimate.
Home Depot marked one of the S&P's larger losses despite reporting stronger profit than expected for end of 2022.
The Conference Board's consumer confidence index — a closely watched metric gauging attitudes about the current and future strength of the economy — measured 107.1 in January, according to data released Tuesday by the business think tank.
U.S. economy grew at 2.9% rate in last three months of year despite pressure of high rates and fears of recession.
The fight over the nation's debt limit could have very real implications on everything from your 401(k) to Social Security.
Should Fed's rate hikes cause a recession, a jump in layoffs and unemployment claims would be an early sign.
Each week brings head-scratching contradictory news about the economy. This past week was no different, with a batch of economic reports showing that — despite the recession talk — the US economy shows remarkable resilience.
Inflation dropped to still-high 6%, likely bolstering Fed's resolve to keep raising interest rates well into 2023.
The House vote to impose a contract brokered by the White House but rejected by some workers was 290 to 137.
It's estimated more gift buyers are likely to shop on Small Business Saturday than Black Friday this year.
Heading into the all-important holiday shopping season, American consumers still aren't feeling very confident about the state of the US economy.
Wall Street was betting on a red wave in the midterm elections Tuesday. But so far it appears that didn't happen.
Inflation? High gas prices? American gamblers are shrugging them off — and losing money at casinos at a record pace.
A measure of inflation that is closely monitored by the Federal Reserve remained painfully high last month, the latest sign that prices for most goods and services in the United States are still rising steadily.
Fresh from Tuesday's primary where the stage for November's election is now set, top leaders of the state's Democratic and Republican Parties appear on CBS 62's "Michigan Matters" to talk about the road ahead and some heated races coming up in November.
Gov. Gretchen Whitmer talked about her plans to fix the state's ailing roads, the pandemic and politics on "Michigan Matters" airing 8am Sunday on CBS 62.
The funds will be spent on helping families with quality childcare and children's savings accounts.
As the pandemic winds down, an offshoot has been a growing jobs gap particularly in the skilled trades, which is why CBS 62's "Michigan Matters" is taking a look this Sunday at 7:30 a.m. at one unique program to train more tree trimmers.
Gov. Gretchen Whitmer discusses the dizzying issues that arose this year including the pandemic, economic fallout, and a heated election on CBS 62's "Michigan Matters."
Wayne County is erasing $27 million in medical debt for more than 46,000 county residents.
The Supreme Court on Wednesday said it will take up a challenge to a new law that could lead to a ban on TikTok in the U.S.
The House Ethics Committee has quietly voted to release its report on the investigation into former Rep. Matt Gaetz, two sources said.
According to court documents, from July 2023 through June 2024, Mack Davis, 22, of Owosso, researched mass killers online and on social media sites and paid tribute to them.
U.S. Coast Guard Air Station Traverse City crew members rescued three people from a disabled vessel in Lake Michigan over the weekend.
We're tracking snow and more bitterly cold air for Southeast Michigan this week.
Wayne County is erasing $27 million in medical debt for more than 46,000 county residents.
Lawmakers in Lansing are trying to redefine what it means to have suitable shelter for animals.
The Supreme Court on Wednesday said it will take up a challenge to a new law that could lead to a ban on TikTok in the U.S.
The House Ethics Committee has quietly voted to release its report on the investigation into former Rep. Matt Gaetz, two sources said.
Organizers announced earlier this year that the show was returning to its traditional January slot after taking place in the fall in recent years.
The grants are in addition to the $1.8 million that Stellantis provided for home repairs to 120 homeowners on the east side in 2020 and 2021.
Troubled automaker Stellantis has decided that its Ram brand needs its own executive, so it is bringing back an executive who retired this year when CEO Carlos Tavares was still running the company.
In Metro Detroit, gas prices continue to fall. Motorists are filling up for an average of $2.96 per gallon.
As we prepare for the winter season, getting your car ready for its quick or long trek can make all the difference.
Detroit Diamond put her skills on display as a finalist in the Netflix series "Rhythm + Flow," and her career is starting to take off.
Among the 25 films selected by the Library of Congress to be preserved for future generations are the Coen Brothers' "No Country for Old Men," "The Social Network," Cheech & Chong's "Up in Smoke," and "The Texas Chainsaw Massacre."
A spokesperson for Foxx said that he had to get stitches after he was hit in the face by a glass thrown from someone else in the restaurant.
Sean "Diddy" Combs filed a motion Friday to dismiss his appeal for bail, meaning he will stay in jail until his trial on sex trafficking charges in May 2025.
Detroit's Movement Festival released a snippet of its 2025 lineup featuring Carl Cox, John Summit and Detroit native Carl Craig.
The Supreme Court on Wednesday said it will take up a challenge to a new law that could lead to a ban on TikTok in the U.S.
The House Ethics Committee has quietly voted to release its report on the investigation into former Rep. Matt Gaetz, two sources said.
An Indiana man, Joseph Corcoran, convicted of killing four people including his brother and his sister's fiancé decades ago was put to death, without any independent witness, marking the state's first execution in 15 years.
NASA astronauts Butch Wilmore and Suni Williams have been stuck in space for months longer than expected, and will not return to Earth until at least March 2025 at the earliest, NASA indicated.
Here's what to know about Frontier's "GoWild!" unlimited flight deal, an "all you can fly" offer that costs $299.
Wayne County is erasing $27 million in medical debt for more than 46,000 county residents.
Republicans wants to extend 2017 tax cuts that expire next year and could let ACA subsidies lapse to help pay the tab, according to analysts.
A court in Hazel Park is aiming to treat people with substance abuse while keeping them out of prison.
Aaron Siri, an attorney to Robert F. Kennedy Jr., petitioned the FDA to "withdraw or suspend" its approval of a polio vaccine.
Union officials representing the University of Michigan Health-Sparrow nursing staff have been working for months for an improved contract, but leaders say they're not close to a deal.
Patrick Mahomes is battling another ankle injury.
The first-round draft pick suffered an injury to his left tibia during Week 6. However, he says he wasn't going to let the injury stop him and made a promise to his teammates.
Harris launched his "Season of Smiles" event, an annual shopping spree for five preselected deserving families.
Campbell, though, doesn't like that Detroit gave up 48 points in a six-point loss to the AFC East champion Buffalo Bills on its home turf.
Tim Hardaway Jr. hit three 3-pointers in overtime to help the Detroit Pistons end the Miami Heat's four-game winning streak with a 125-124 victory.
Mary Tyler Moore turned the world on with her megawatt smile as she starred in the iconic "Dick Van Dyke" and "Mary Tyler Moore" shows a generation ago.
The roundtable talked politics and focused on blockbuster news that Detroit Mayor Mike Duggan would run for governor in 2026 but as an independent candidate.
President-elect Donald Trump campaigned with talk of ending the $7,500 electric vehicle tax credit which has helped fuel sales.
The 98th Annual America's Thanksgiving Parade will roll through the streets of downtown Detroit this Thursday, with hundreds of thousands lining Woodward Avenue as six new floats make their debut.
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.
U.S. Coast Guard Air Station Traverse City crew members rescued three people from a disabled vessel in Lake Michigan over the weekend.
A child was shot Tuesday morning after he found a gun in his home. The child's father was arrested. The Lakeside City Center plan in Sterling Heights has been approved and more on your top headlines.
Detroit Red Wings players participated in the annual Hometown Holiday Assist Shopping Spree at Meijer
Much colder this weekend.
Two men charged with murder in the death of a Rochester Hills man back in October appeared in court on Tuesday.