Here's how the Fed's interest rate cut today could impact your money
The Federal Reserve announced a third rate cut today, but also cautioned it expects fewer cuts in 2025.
Watch CBS News
The Federal Reserve announced a third rate cut today, but also cautioned it expects fewer cuts in 2025.
The Federal Reserve said it is cutting rates by 0.25 percentage points, its second rate cut of the year.
The Federal Reserve announced its second interest rate cut of 2024, but Trump's economic priorities could impact future policy.
Donald Trump's victory in the 2024 presidential election is likely to have a major impact on the economy. Here's what to know.
This month's report reflects a lot of noise due to hurricanes, Boeing machinists strike.
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.
The Fed has slashed borrowing costs for the first time in more than four years. Here's how that would impact people with credit card balances.
The Federal Reserve kept its benchmark rate in a range of 5.25% to 5.5%, the same level where it's been parked since July 2023.
Inflation-weary consumers have also been slammed by high borrowing costs, but the Fed is cautious about sticky inflation.
Inflation is moving sideways, remaining above 3% for the first three months of 2024. Here's how that could impact your finances.
The Fed left its benchmark interest rate unchanged amid persistent inflation. Bankers are predicting three rate cuts later this year.
The Federal Reserve marked its first rate decision of 2024 by keeping its benchmark interest rate unchanged.
In its last rate decision of 2023, the central bank said it is holding its benchmark rate steady amid cooling inflation.
Interest rates for a home loan are continuing to soar, driving many aspiring property owners out of the market.
Although inflation has slowed sharply, Fed officials are again tapping the brakes to ensure the economy slows.
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
After raising rates from zero to 5% in 15 months, the central bank is pausing to assess the economic impact of monetary tightening.
Latest hike brings the U.S central bank's benchmark interest rate to its highest level in 16 years.
Central bank officials will announce on Wednesday if they are hiking the federal funds rate for a 10th consecutive time.
The regional lender, whose collapse is the second-biggest bank failure in U.S. history, is the third bank to be seized by regulators since March.
The U.S. central bank eases up its efforts to curb inflation amid concerns about banking industry risks.
Inflation's still high, but analysts warn that further rate hikes from the Fed could lead more more banks to topple.
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.
Can the Fed keep raising interest rates and defeat the worst bout of inflation in 40 years without causing a slump?
City Councilmember Muhith Mahmood, who lost by 11 votes to Adam Alharbi, is appealing a Wayne County judge's ruling not to tabulate the 37 uncounted absentee ballots, something his lawyer says is violating voter rights.
A single winning ticket was sold for Powerball's Christmas Eve jackpot of $1.817 billion, in Arkansas. It was the second-largest U.S. lottery jackpot ever won.
Michigan State Police say a suspect is on "Santa's naughty list" after a trooper noticed him driving a stolen vehicle.
Babies at Henry Ford Hospital's Neonatal Intensive Care Unit received a visit from Santa Claus on Christmas Eve.
Temperatures are supposed to drop on Friday, which means Detroit could see some icy and dangerous conditions on the road just as residents are heading back from holiday festivities.
City Councilmember Muhith Mahmood, who lost by 11 votes to Adam Alharbi, is appealing a Wayne County judge's ruling not to tabulate the 37 uncounted absentee ballots.
You'll want to plan around the office, retail and business closings that apply to Christmas Day.
The Minnesota Vikings host the Detroit Lions in Week 17 of the 2025 NFL season on Christmas Day.
Our holiday week in Michigan has more warm days than not, and that does help and hinder our travel.
A single winning ticket was sold for Powerball's Christmas Eve jackpot of $1.817 billion, in Arkansas. It was the second-largest U.S. lottery jackpot ever won.
Ford Motor Co. is pivoting away from its once-ambitious electric vehicle plans amid financial losses and waning consumer demand for the vehicles.
A 15-gallon tank of gas will cost Michiganders about $42, which is around $15 less than the highest price drivers paid in July 2024.
Ford Motor Co. has stepped up technology in its popular F-150 pickup to combat ever-evolving techniques car thieves have at their disposal.
The management company of the LaFontaine Automotive Group in Metro Detroit has agreed to pay $1.5 million to settle an alleged Paycheck Protection Program loan fraud.
Slower adoption of electric vehicles was cited as the reason for pending layoffs at GM's Factory Zero.
The "Taylor Swift" bill package, which includes House Bills 4262 and 4263, authorizes the Michigan attorney general to pursue action against anyone using ticket bots.
James Ransone, the actor who played Ziggy Sobotka in the HBO series "The Wire" and appeared in many other TV shows and movies, has died.
Comedian and actor Bowen Yang performed his final sketch on "SNL" Saturday night, after announcing his unexpected mid-season exit from the show.
The special features interviews with Kathy Bates, Annette Bening, Albert Brooks, Michael Douglas, Kiefer Sutherland, Jerry O'Connell and Mandy Patinkin.
The Oscars ceremony is moving to YouTube starting in 2029, the Academy of Motion Picture Arts and Sciences announced on Wednesday.
A single winning ticket was sold for Powerball's Christmas Eve jackpot of $1.817 billion, in Arkansas. It was the second-largest U.S. lottery jackpot ever won.
The Justice Department said the process of releasing the Epstein files may take "a few more weeks" due to the volume of materials.
The economy remained on track this year, defying the gloomiest predictions. That doesn't mean Americans are thrilled with how things are going.
NORAD, the North American Aerospace Defense Command, tracks Santa's Christmas Eve flight around the world each year. Follow a live map of the tracker here.
The declaration issued by the U.S. Department of Health and Human Services called treatments like puberty blockers, hormone therapy and surgeries unsafe and ineffective for children and adolescents experiencing gender dysphoria.
President Trump on Thursday signed an executive order to reclassify marijuana. While it might seem like a small move, it opens a new door for the industry as a whole.
Millions of people with an Affordable Care Act health plan face a massive jump in premiums next year — this chart shows just how much.
Henry Ford Health has announced new labor agreements with registered nurses and radiology technicians at its Rochester hospital.
A Michigan hospital is asking members of the public to raise their flashlights as well as the spirits of children during the holiday season.
Oakland County health officials are reporting a confirmed case of measles in a pediatric patient at DMC Huron Valley-Sinai Hospital.
The Minnesota Vikings host the Detroit Lions in Week 17 of the 2025 NFL season on Christmas Day.
The Detroit Lions and Minnesota Vikings have gone from 29 combined wins last season to just 15 this season entering their Week 17 matchup on Christmas Day.
Dylan Larkin scored the tying goal late in the third period and then got the winner 34 seconds into overtime to rally Detroit Red Wings to a 4-3 victory over the Dallas Stars for their third straight win.
The Detroit Lions are sending five players to the 2026 Pro Bowl Games.
The Detroit Lions were not expected to match the success they had last year when they won a franchise-record 15 games to earn the NFC's No. 1 seed in the playoffs and claimed consecutive division championships for the first time since they were an NFL powerhouse in the early 1950s.
The roundtable discusses efforts by political and corporate leaders to raise the bar and improve K-12 education with a focus on raising reading scores.
With one in eight adults at risk for kidney disease, Dr. Silas Norman, a University of Michigan doctor specializing in kidney health, and Sandy Baruah, President and CEO of Detroit Regional Chamber, appear on Michigan Matters.
The state of Michigan can do better when it comes to raising the bar on K-12 public education.
The Detroit show will attract hundreds of thousands to the area as automakers, tech companies and more gravitate to downtown Detroit.
This week on Michigan Matters, Carol Cain speaks with retail owners and entrepreneurs ahead of the holiday season.
Big changes are coming for Detroit postal service customers as the USPS Renaissance Center Station is set to close.
A Detroit man is accused of leaving his three dogs outside and allowing two of them to freeze to death, Wayne County prosecutors said. Now animal care experts are calling for more attention to animal abuse.
City Councilmember Muhith Mahmood, who lost by 11 votes to Adam Alharbi, is appealing a Wayne County judge's ruling not to tabulate the 37 uncounted absentee ballots, something his lawyer says is violating voter rights.
The Detroit Lions face a must-win game against the Minnesota Vikings on Christmas Day to keep their slim playoff hopes alive.
Democrats in Congress say they are planning to take legal action if the Department of Justice does not release the remaining Jeffrey Epstein files. On Wednesday, the DOJ says it uncovered over 1 billion additional documents.