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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.
While President Biden called the debt ceiling bill a win, Republicans running for president in 2024 had a difference interpretation.
As President Biden celebrates the budget agreement, his potential 2024 GOP challengers are on the campaign trail.
President Biden delivered remarks from the Oval Office Friday night after Congress passed bipartisan legislation to suspend the U.S. debt limit until 2025. Watch his address in this CBS News Special Report, with analysis from Margaret Brennan and Nancy Cordes.
Congress agreed to raise the debt ceiling, averting what experts said could have been an economic crisis.
The president spoke less than 24 hours after the Senate approved the agreement in a bipartisan vote.
The Senate passed legislation suspending the debt ceiling, sending the bill to President Biden's desk to avoid a U.S. government default that would have caused economic chaos.
The move suspends the nation's debt limit for two years. CBS2's Dick Brennan has the breaking details.
The legislation now goes to President Biden's desk, pulling the nation back from the brink of a financial crisis.
The House of Representatives voted Wednesday night to pass a bill that will suspend the debt limit and avoid a catastrophic default. It now heads to the Senate. CBS News congressional correspondent Scott MacFarlane reports from Capitol Hill.
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.
Congress stands at odds about the deal reached between President Biden and House Speaker McCarthy, but it must pass by June 5 to avoid the government defaulting on its bills.
The House passed the bill to raise the debt ceiling Wednesday. Now, the Senate will take it up.
CBS2's Cristian Benavides has more on what's in the deal.
The debt ceiling deal has cleared both chambers of Congress and is headed to the president's desk.
The House Democratic leader said he can guarantee the U.S. will not default on its debt.
President Joe Biden and House Speaker Kevin McCarthy announced late Saturday that they had reached an agreement in principle to raise the debt ceiling. Democratic House Minority Leader Hakeem Jeffries tells "Face the Nation" that he expects his caucus to vote for the deal because it "protects" Social Security, Medicare, Medicaid, veterans and the "American people."
Congress will have to pass the deal to raise the country's debt limit and avoid a potential catastrophe for the economy.
President Joe Biden and House Speaker Kevin McCarthy reached the agreement just days before the default deadline. CBS2's Cristian Benavides reports.
After days of intense negotiations and weeks of talks, an agreement in principle has been reached to raise the debt ceiling.
With a June 5 deadline looming, negotiations are continuing in Washington this weekend. CBS2's Cristian Benavides reports.
The deadline to make a deal on the debt ceiling has been extended to June 5 as House Republicans and the Biden administration negotiate. Christina Ruffini has more.
Time is running short for House Republicans and the White House to reach an agreement on the debt ceiling to avoid default.
CBS News Business Analyst Jill Schlesinger is here to explain and share some tips to prepare.
A funeral will be held today for NYPD recruit Edgar Ordonez, who died last week after he collapsed during training in the Bronx.
"CBS Mornings" got an exclusive first look at the 47th class of Kennedy Center honorees, who will be celebrated for their lifetime artistic achievements and impact on American culture.
Former President Donald Trump is slated to accept the GOP's nomination for president on the fourth and last day of the Republican National Convention.
New York City police say officers shot a man who was wielding a machete late Wednesday night in the Mott Haven section of the Bronx.
The U.S. Secret Service is facing mounting questions about the security flaws that allowed the shooter to fire from a rooftop near the rally.
A funeral will be held today for NYPD recruit Edgar Ordonez, who died last week after he collapsed during training in the Bronx.
New York City police say officers shot a man who was wielding a machete late Wednesday night in the Mott Haven section of the Bronx.
The death of Eric Garner in 2014 thrust his mother, Gwen Carr, into a life of activism. Her son's last words – "I can't breathe" – became a flashpoint for issues surrounding social injustice, seen then and still today in protests and demonstrations.
An 89-year-old stand-up comedian is one of the latest victims of random assault in New York City. Another woman randomly punched her in the face as she was walking home from a swim class on July 10.
New York's next offshore wind farm, Sunrise Wind, will be seven times bigger than its first one.
New York and New Jersey coped with another day of excessive heat and humidity Wednesday, as well as severe weather.
Severe weather moved through parts of the Tri-State Area amid another heat wave Tuesday, causing widespread damage.
Physical effects of heat waves, like heat stroke, are widely known. But scientists are now sounding the alarm on psychological consequences of extremely high temperatures.
The First Alert Weather Team has issued a Red Alert through Wednesday due to excessive heat and humidity in New York City, New Jersey and the entire Tri-State Area.
Extreme heat returned Sunday and it's only going to get hotter over the next few days.
Sen. Bob Menendez is refuting reports that he's planning to resign after he was convicted on federal bribery charges.
Pressure is mounting on convicted felon Bob Menendez to resign from the U.S. Senate, but not everyone thinks he will.
New York and New Jersey coped with another day of excessive heat and humidity Wednesday, as well as severe weather.
NJ Transit says the excessive heat is causing equipment issues, and riders should expect delays and cancellations for days.
A meteor soared over the Statue of Liberty in NYC and New Jersey, prompting reports of a loud boom and shaking buildings.
New York's next offshore wind farm, Sunrise Wind, will be seven times bigger than its first one.
Officials in Hempstead are warning beach goers about recent shark sightings and rough seas.
Nassau County Executive Bruce Blakeman signed a a controversial transgender athlete ban Monday which passed last month by the Nassau County legislature along party lines.
Physical effects of heat waves, like heat stroke, are widely known. But scientists are now sounding the alarm on psychological consequences of extremely high temperatures.
The First Alert Weather Team has issued a Red Alert through Wednesday due to excessive heat and humidity in New York City, New Jersey and the entire Tri-State Area.
Former President Donald Trump is slated to accept the GOP's nomination for president on the fourth and last day of the Republican National Convention.
The U.S. Secret Service is facing mounting questions about the security flaws that allowed the shooter to fire from a rooftop near the rally.
Ohio Sen. JD Vance delivered a speech on the third night of the Republican National Convention and accepted the party's nomination for vice president.
Sen. Bob Menendez is refuting reports that he's planning to resign after he was convicted on federal bribery charges.
New York's next offshore wind farm, Sunrise Wind, will be seven times bigger than its first one.
Physical effects of heat waves, like heat stroke, are widely known. But scientists are now sounding the alarm on psychological consequences of extremely high temperatures.
At least two cases of measles have been found in people staying at a New York City-run shelter for migrants in Brooklyn.
Nationwide, the CDC says the COVID virus level in wastewater is now "high" for the first time since last winter.
A first responder on Long Island is said to be the first in the country, outside a clinical trial, to undergo a life-saving surgery for peripheral artery disease.
Tahjana Lewis suffered burns to her chest, arms and legs, according to a recent lawsuit the Connecticut woman filed.
Nominations for the 76th annual Emmy Awards were announced Wednesday, with "Shōgun," "The Bear," "Hacks," "Only Murders in the Building" and "Baby Reindeer" all earning multiple major nods. See the full list of nominees for the 2024 ceremony here.
"Big Brother" announced Tuesday the 16 new Houseguests who will move into the "Big Brother" house and, for the first time ever, have the power to vote in a 17th houseguest.
Shannen Doherty had been battling cancer since 2015.
Judge Mary Marlowe Sommer dismissed the case with prejudice based on the misconduct of police and prosecutors.
Shelley Duvall worked frequently with director Robert Altman, and appeared in her final film in 2023 after decades away from Hollywood.
Josef Martínez scored two second-half goals to help CF Montreal rally for a 2-2 tie with the New York Red Bulls.
Mounsef Bakrar and Talles Magno each scored a second-half goal to help New York City FC rally and play Atlanta United to a 2-2 tie.
Argentina won its second straight Copa America championship, overcoming Lionel Messi's second-half leg injury to beat Colombia 1-0 on Lautaro Martínez's 112th-minute goal.
Fans appeared to breach the security gates at Hard Rock Stadium hours before the Copa America final between Argentina and Colombia.
Michael Toglia hit three of the Rockies' six homrs in an 8-5 win over the Mets on Sunday.
It's a tradition that dates back to 1887. Worshippers in Brooklyn paraded through the streets, a beloved Italian tradition.
Yehuda Beinin said his daughter was held in two different homes in Gaza for 54 days.
The New York City Department of Environmental Protection is installing seven miles of porous pavement in Brooklyn.
CBS New York first reported in April that drivers were illegally parking cars in a grassy area alongside a bike lane under the Queensboro Bridge. Since then, community members say they've seen little improvement.
Mayor Eric Adams' rezoning proposal, dubbed "City of Yes," sparked debate at a lengthy public hearing Wednesday.
Tens of thousands of people flooded Manhattan streets on June 2, 2024 for the 60th annual Israel Day on Fifth Parade.
The Francis Scott Key Bridge in Baltimore collapsed early Tuesday, March 26 after a column was struck by a container ship that reportedly lost power, sending vehicles and people into the Patapsco River.
The 50th Annual Village Halloween Parade drew massive crowds, celebrating the theme "Upside/Down:Inside/OUT."
As much of the northeast experiences heavy rains, parts of New York City are beginning to flood.
Thousands of people flooded Union Square on Friday for a PlayStation giveaway promoted by livestreamer Kai Cenat.
The 33-year-old recruit died last Wednesday after he collapsed during outdoor training at the police shooting range in the Bronx.
NJ Transit says the excessive heat is causing equipment issues that could lead to days of service disruptions. CBS New York's Christina Fan has the latest and hears from commuters.
The NYPD says a man wielding a machete was shot and wounded by police late Wednesday night in the Bronx.
CBS New York's Tony Sadiku and John Elliott have the latest weather forecast.
CBS New York's Lonnie Quinn has your First Alert Forecast for July 17 at 11 p.m.