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Rents are cooling off, bolstering Fed's case for cutting rates
After years of soaring housing costs, renters are getting some relief as the Federal Reserve looks to extinguish inflation.
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After years of soaring housing costs, renters are getting some relief as the Federal Reserve looks to extinguish inflation.
Inflation is moving sideways, remaining above 3% for the first three months of 2024. Here's how that could impact your finances.
The Federal Reserve marked its first rate decision of 2024 by keeping its benchmark interest rate unchanged.
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.
U.S. economy continues to plow ahead, as holiday shoppers shell out more on gifts this year than predicted.
In its last rate decision of 2023, the central bank said it is holding its benchmark rate steady amid cooling inflation.
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.
Central bank officials will announce on Wednesday if they are hiking the federal funds rate for a 10th consecutive time.
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.
While the central bank is slowing its rate increases, Jerome Powell told investors not to expect lower rates this year.
The central bank boosted interest rates for the seventh time this year, which means pricier debt and loans.
Rates are at their highest level in 15 years as policymakers try to tamp down inflation without torpedoing the economy.
It's never a great time to carry credit card debt. But right now is arguably the worst time.
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.
Recession worries continue to haunt Wall Street. A key indicator in the bond market is flashing signs of a potential downturn.
It's prime back-to-school shopping season. As inflation woes continue, families do everything they can to stock up on items to kick off the school year.
Rain or shine, people were ringing in the celebration on Friday at the annual event, which someone described to me as Detroit's Mardi Gras.
Prosecutors in Michigan have struck a deal with a pharmacist who is blamed for deaths from a national meningitis outbreak in 2012.
Heritage Collegiate Apparel, largely known as M Den, announced on Friday that it has filed for Chapter 11 bankruptcy, a day after closing its Novi location.
The city developed eight action areas, including improving shelter facilities, increasing shelter staff, expanding affordable housing, and reducing youth and veteran homelessness.
It's prime back-to-school shopping season. As inflation woes continue, families do everything they can to stock up on items to kick off the school year.
Stalions was on head coach Jim Harbaugh's staff until he resigned in November.
Rain or shine, people were ringing in the celebration on Friday at the annual event, which someone described to me as Detroit's Mardi Gras.
Prosecutors in Michigan have struck a deal with a pharmacist who is blamed for deaths from a national meningitis outbreak in 2012.
It has been 37 years since Northwest Airlines Flight 255 crashed after taking off from Detroit Metro Airport, marking the deadliest plane crash in Michigan's history.
The Biden administration announced that $50 million will go to Michigan, Ohio, Indiana, Kentucky, Tennessee and Illinois to boost electric vehicle production.
The union hosted a call Wednesday, during which members will hear what's at stake in November, the union's key issues, and how they're looking to win against the so-called "billionaire class."
"The Connect" is an autonomous shuttle service with 16 stops to help people get to or near their destination.
Stellantis is warning that it could lay off as many as 2,450 of the 3,700 union workers employed at a truck plant just outside of Detroit.
Mohawk Chevrolet in New York has gone viral on TikTok for its "The Dealership" parody series. The company brought the series to Detroit and featured General Motors CEO Mary Barra.
For many of these diehard car enthusiasts we spoke to Thursday, Saturday will be a rain-or-shine event. Their vehicles might say otherwise.
Taylor Swift's blockbuster "Eras Tour" resumed in London on Thursday after her concerts in Vienna were canceled earlier this month because of an alleged terror plot.
Gena Rowlands, hailed as one of the greatest actors to ever practice the craft, died at 94 on Wednesday, her representatives confirmed.
Robert Englund, the actor best known for playing Freddy Krueger in "A Nightmare on Elm Street," will attend Motor City Comic Con in November.
The family is demanding $3 million for Trump's use of "Hold On, I'm Coming" at his rallies.
Prosecutors in Michigan have struck a deal with a pharmacist who is blamed for deaths from a national meningitis outbreak in 2012.
Lisa Jeanine Findley, 53, faces federal charges of mail fraud and aggravated identity theft.
Many million-dollar properties are no longer considered luxury homes, with almost 1 in 10 U.S. houses costing at least that.
Should I freeze my credit? Here's what experts say, and how to stop bad actors from accessing your file.
NOAA forecasters say there's a 77% chance that 2024 will be the warmest year on record, after July marked the 14th consecutive monthly record.
Prosecutors in Michigan have struck a deal with a pharmacist who is blamed for deaths from a national meningitis outbreak in 2012.
WNV has been detected in several dozen mosquito pools and wild birds across the state.
It's nearly one month until the start of the fall season, and in Oakland County, the health office says to be careful as West Nile virus looms in mosquitoes.
Florida cucumber grower used untreated canal water found to be tainted with salmonella bacteria, laboratory tests found.
The Oakland County Health Division says WNV was detected in three birds and the county's mosquito pool in 2024
Detroit City FC continues their three-game road trip in Birmingham on Friday night against Eastern Conference rival Birmingham Legion FC.
Stalions was on head coach Jim Harbaugh's staff until he resigned in November.
Australia breaker Rachael Gunn, also known as B-Girl Raygun, said the "hate" she has received over her Paris Olympics performance has been "devastating."
Team USA's Jordan Chiles took to Instagram to open up about the loss of her bronze medal.
The "Frozen Confines: Big Ten Hockey Series" will feature a pair of doubleheaders on Jan. 3 and 4.
Michigan GOP Party Chair Pete Hoekstra and State Sen. Mallory McMorrow discuss the results of the primary and how the field of candidates still standing and their prospects look as Election 2024 enters the sprint to the finish line on Nov. 5 on CBS Detroit's Michigan Matters
Michigan's primary was held Tuesday, with numerous contests being voted on, including the open U.S. Senate seat, several Michigan U.S. House seats and much more.
The spotlight is on two successful Detroit family-owned businesses on CBS Detroit's Michigan Matters as leaders from PVS Chemicals and Sweet Potato Sensations talk about working for a family enterprise and the nuances.
With a red-hot election season on and 2024 past the halfway point, the focus is on business.
Gardner-White is a 112-year-old family-owned furniture retailer, and Stewart is the first female to serve as CEO of the company.
With back-to-school season comes the need to buy school supplies and new clothes. Experts say the cost of back to school shopping this year is near an all time high.
Heritage Collegiate Apparel, largely known as M Den, announced on Friday that it has filed for Chapter 11 bankruptcy, a day after closing its Novi location.
The Woodward Dream Cruise is set to kick off on Saturday. Rain or shine, people were ringing in the celebration on Friday ahead of the annual event, which someone described to me as Detroit's Mardi Gras.
The city of Detroit announced its five-year plan to reduce homelessness and create housing options. The city developed eight action areas, including improving shelter facilities, increasing shelter staff, expanding affordable housing, and reducing youth and veteran homelessness.
Friday marks 37 years since the deadliest plane crash in Michigan. Northwest Flight 255 went down just minutes after takeoff from Detroit Metro Airport crashing into I-94 in Romulus. More than 150 people were killed, and the sole survivor was pulled from the wreckage. We are taking a look back at how WKBD 50 covered that tragedy.