The Fed expects only one rate cut this year amid sticky inflation
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.
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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.
Key report on consumer prices comes ahead of interest-rate decision by the Federal Reserve in the afternoon.
Prices excluding food and energy rose at an annual rate of 2.8% in April as inflation eased after flaring earlier this year.
Americans who spend Memorial Day scouting sales online and in stores may find more reasons to celebrate the return of warmer weather.
Is the issue of abortion offsetting the drag on President Biden stemming from inflation nationally and immigration in a state like Arizona?
Robust corporate profits and steady U.S. economic growth are driving stocks to record highs.
The Federal Reserve wants to see more progress in quelling inflation before cutting interest rates.
Inflation is moving sideways, remaining above 3% for the first three months of 2024. Here's how that could impact your finances.
The hotter-than-expected inflation reading could cause the Federal Reserve to delay interest rate cuts, analysts said.
Discount grocery giant Aldi expects to build more stores in the Midwest, Northeast and select U.S. cities
The high cost of food both at home and in restaurants continues to be a sore spot for millions of U.S. households.
Americans can expect ebbing inflation and a strong job market this year, according to the National Association for Business Economics.
This Valentine's Day, more people may have opted for a romantic meal at home. The new U.S. inflation report shows that food prices across the board are still stubbornly high, but restaurant prices are climbing faster than grocery store prices.
U.S. Treasury Secretary Janet Yellen touted a strong economy and believes inflation is returning to normal levels while making several stops across Detroit on Wednesday, including NewLab at Michigan Central.
"Americans should feel confident that inflation will come down to levels that will no longer really be noticeable or worrisome to them," Yellen told CBS News.
Consumer prices in January rose 3.1% from a year earlier, higher than economists had forecast, as food and housing costs jumped.
Bartender Catey Regis's pricey misadventure of buying a used car recently speaks to why voters are worrying about the U.S. economy going into this year's presidential election.
Rents over the last two decades have risen much faster than employee pay, contributing to an escalating homelessness crisis in the U.S.
If faced with a sudden loss of income, more than half of Americans say they worry they wouldn't have enough savings to cover a month's living expenses.
The U.S. housing market slumped badly last year amid surging mortgage and a dearth of affordable properties, new data shows.
Workers in some jobs, including many who are self-employed, enjoyed double-digit wage gains last year. Here's who got the biggest pay bumps.
This year's robust stock market performance defied analysts' predictions as investors cheered prospects of lower interest rates and inflation.
U.S. economy continues to plow ahead, as holiday shoppers shell out more on gifts this year than predicted.
Billions of dollars' worth of gift cards go unspent every year. Here's what to know about redeeming them — and avoiding scams.
The Federal Reserve's preferred measure of inflation fell last month in another sign that prices are easing.
A former federal prosecutor says nothing is barring Attorney General Dana Nessell from conducting an independent investigation into Oxford High School Shooting.
Video captured when a truck drove off with the Plymouth-Canton Ballet Company's prop trailer.
The annual event, which will be held from 10 a.m. to 2 p.m. on Thursday, will offer turkeys, hams, pies, produce and more.
Over the last year, the number of school districts in Ohio that allow staff to be armed quadrupled, with 14% of the state's districts now participating.
Both players surprised fans at a Detroit youth center at The Yunion's annual turkey drive.
A former federal prosecutor says nothing is barring Attorney General Dana Nessell from conducting an independent investigation into Oxford High School Shooting.
Video captured when a truck drove off with the Plymouth-Canton Ballet Company's prop trailer.
The annual event, which will be held from 10 a.m. to 2 p.m. on Thursday, will offer turkeys, hams, pies, produce and more.
With the third anniversary of the Oxford High School shooting approaching, the parents of the victims are demanding a state-led independent investigation.
Over the last year, the number of school districts in Ohio that allow staff to be armed quadrupled, with 14% of the state's districts now participating.
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.
Ford Motor Co. will pay a penalty of up to $165 million to the U.S. government for moving too slowly on a recall and failing to give accurate recall information.
Earlier this week, the automaker announced that it was indefinitely laying off 1,100 union-backed workers at its Toledo South Assembly Plant.
The much-hyped fight pitting the 58-year-old Tyson against Paul, 27, shattered records but was marred by tech glitches.
With the release of part one of her new memoir, Cher talks about her relationship - on stage and off - with Sonny Bono, and why their TV partnership survived beyond their marriage.
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.
"America demanded it and now it's happening: Taco Bell's new Cheesy Chalupa Supreme. In other news, I'm hosting the Oscars," Conan O'Brien said.
Over the last year, the number of school districts in Ohio that allow staff to be armed quadrupled, with 14% of the state's districts now participating.
Spirit's bankruptcy filing will likely mean higher airfares across airlines as it trims schedule, according to experts.
Some Arab Americans are expressing concern over Donald Trump's picks for key positions in his next administration.
E. coli outbreaks in food are making headlines, prompting questions about how to stay safe from the bacteria that can cause sickness.
The much-hyped fight pitting the 58-year-old Tyson against Paul, 27, shattered records but was marred by tech glitches.
In September, nurses submitted cards of interest to the National Labor Relations Board, which then approved the right to hold a formal vote
The FDA's Dr. Peter Marks says he hopes to keep his job under a second Trump term, and urges Robert F. Kennedy Jr. to "keep an open mind."
U.S. Consumer Product Safety Commission issues urgent safety alert after ninth recall of adult bed rails in three years.
The DOJ has notified the Michigan Department of Health and Human Services and the Michigan State Attorney General's Office of the investigation.
Overdose deaths have slowed 18% since a peak last year, the CDC estimates.
Both players surprised fans at a Detroit youth center at The Yunion's annual turkey drive.
The Detroit Lions are on fire this season, and they are setting records along the way.
The Lions are off to their best start since 1934. As of Monday afternoon, BetMGM's Super Bowl 59 odds have Detroit at +310.
The Minnesota Frost take on the New York Sirens on Sunday, March 16 at 7:30 p.m. at Little Caesars Arena.
The much-hyped fight pitting the 58-year-old Tyson against Paul, 27, shattered records but was marred by tech glitches.
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.
Trump and Harris and their anointed representatives continue to make campaign stops in Detroit, Grand Rapids, Flint and other places in Michigan, a critical battleground state.
Highland Park is updating residents on plans for new water meters. Council members on Monday passed a motion on three separate resolutions regarding the installation of those new meters.
Former federal prosecutor Rick Convertino says nothing is barring Michigan Attorney General Dana Nessel from conducting an independent investigation into Oxford High School Shooting.
A Michigan ballet company is asking for the public's help to save Christmas after a trailer with its "Nutcracker" props was stolen over the weekend. Video captured the moment a truck drove off with the Plymouth-Canton Ballet Company's prop trailer.
The Motor City Cruise will be hosting a coaches clinic on Saturday, Nov. 23. Associate head coach Marcus Stout joined CBS News Detroit to discuss the upcoming event.
Ford Motor Company is facing new fallout over multiple recalls. U.S. auto regulators announced two investigations days after fining the automaker $165 million. Paul Eisenstein, editor-in-chief of Headlight.News, joined CBS News to weigh in.