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.
The New York attorney general's office plans to warn 23andMe customers to delete their data after the DNA testing company announced it will seek a buyer.
The MTA on Monday released its latest data on congestion pricing and talked about a new pilot program aimed at making adjustments to bus schedules in Manhattan.
There are mixed reviews after a controversial busway project aimed at improving bus times and congestion on Fordham Road in a busy section of the Bronx was canceled.
A personal attorney to President Trump for years, Alina Habba is known for her pugnacious defense in the media and in courtrooms.
Columbia University professors are pushing back after the school agreed to several of the Trump administration's demands.
The New York attorney general's office plans to warn 23andMe customers to delete their data after the DNA testing company announced it will seek a buyer.
The MTA on Monday released its latest data on congestion pricing and talked about a new pilot program aimed at making adjustments to bus schedules in Manhattan.
There are mixed reviews after a controversial busway project aimed at improving bus times and congestion on Fordham Road in a busy section of the Bronx was canceled.
Columbia University professors are pushing back after the school agreed to several of the Trump administration's demands.
A Northville Central, N.Y. high school basketball coach who was seen on video pulling a player's hair has issued an apology.
It's a rainy start to the work week for the NYC area. We're tracking light rain for the morning commute that picks up into the lunch hour.
Following a brief warmup on Saturday will be a cooldown for Sunday.
Today is the first day of spring, and NYC and N.J. are expecting some rainy weather as the equinox arrives.
Stormy weather arrived overnight around the NYC area, bringing heavy rain and high winds.
We have a First Alert Weather Day coming our way, starting Sunday afternoon.
Nadine Menendez, the wife of convicted former Sen. Bob Menendez, faced opening statements Monday in her federal bribery trial in NYC.
It's a rainy start to the work week for the NYC area. We're tracking light rain for the morning commute that picks up into the lunch hour.
Celebrating 20 years as a band, the Jonas Brothers played a show at the American Dream mall on Sunday.
The Jonas Brothers stopped by a New York City pizza shop Saturday as part of their 20th anniversary celebration this weekend.
NJ Transit is offering a discount for commuters impacted by the I-80 sinkhole closures and detours in Wharton, New Jersey.
One person was killed Thursday in a crash involving a fire truck in Suffolk County.
Gabby Petito's grandmother announced a new fundraiser in her granddaughter's name Wednesday to mark what would have been Petito's 26th birthday.
Hempstead was once one of the most active business districts on Long Island. It now appears to be on the way to recovery.
Three Long Island fire departments that displayed the Confederate flag have now reached a settlement over alleged discrimination.
It's been four years since an acid attack left a Long Island college student disfigured. Nafiah Ikram was attacked in her Elmont driveway.
The MTA on Monday released its latest data on congestion pricing and talked about a new pilot program aimed at making adjustments to bus schedules in Manhattan.
A personal attorney to President Trump for years, Alina Habba is known for her pugnacious defense in the media and in courtrooms.
Columbia University professors are pushing back after the school agreed to several of the Trump administration's demands.
Nadine Menendez, the wife of convicted former Sen. Bob Menendez, faced opening statements Monday in her federal bribery trial in NYC.
Democrats remained mum as they left Washington in the aftermath of the tense funding fight.
Nestlé USA cites consumer complaints, including "one potential choking incident" for recalling products sold nationwide.
A New Jersey family says they would be heavily impacted by any proposed cuts to Medicaid.
As Americans live longer, there's a dire need to create an age-friendly health care system. But right now, there aren't enough doctors specializing in geriatrics to care for older adults.
Saturday marks five years since New York City announced citywide lockdowns due to the coronavirus pandemic.
Two cats in separate New York City households have tested positive for bird flu, the city health department says.
As Conan O'Brien was honored with the Mark Twain Prize at the Kennedy Center, many comics targeted President Trump from the stage.
Sunday was opening night on Broadway for "Othello," featuring two of Hollywood's biggest stars, Denzel Washington and Jake Gyllenhaal.
Celebrating 20 years as a band, the Jonas Brothers played a show at the American Dream mall on Sunday.
The Jonas Brothers stopped by a New York City pizza shop Saturday as part of their 20th anniversary celebration this weekend.
Country star Orville Peck will go unmasked when he makes his Broadway debut in the revival of "Cabaret."
A Northville Central, N.Y. high school basketball coach who was seen on video pulling a player's hair has issued an apology.
Miller Gardner, former New York Yankees outfielder Brett Gardner's youngest son, died after getting sick on a family vacation, his parents say.
The New York Knicks beat the Washington Wizards 122-103 on Saturday night.
The Ottawa Senators held on to beat the New Jersey Devils 3-2 on Saturday night.
Emil Forsberg scored a goal in each half to lead the Red Bulls to a 2-1 victory over Toronto FC at Sports Illustrated Stadium on Saturday.
There are mixed reviews after a controversial busway project aimed at improving bus times and congestion on Fordham Road in a busy section of the Bronx was canceled.
Brooklyn's historic Hendrick I. Lott House is getting a long-overdue restoration. It's set to be transformed into Marine Park's first museum.
Tax season can bring added exposure to scams and fraud. A mother and daughter in Little Neck, Queens say it happened to them.
Yankee Stadium has unveiled new dining menu items ahead of the upcoming season.
Tensions are sparking in southern Brooklyn as residents learn of lithium-ion battery energy storage systems moving into vacant storefronts and lots along industrial corridors, many just steps from residential homes.
Dogs got decked out for the annual Tompkins Square Halloween Dog Parade in New York City's East Village on Saturday.
Cosplayers flooded New York City's Javits Center in October 2024 for the annual New York Comic Con convention.
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."
CBS News New York's Zinnia Maldonado spoke to city officials about when a project creating affordable housing for seniors could begin and what those in the community are saying about losing their coveted green oasis.
On Monday, the MTA announced a big step forward in the project. CBS News New York's Elijah Westbrook reports.
CBS News New York's Vanessa Murdock says we'll see sunny skies and a high of around 57.
The New York attorney general's office plans to warn 23andMe customers to delete their data after the DNA testing company announced it will seek a buyer. CBS News New York's Tim McNicholas reports.
Ongoing litigation from neighborhood groups is calling for the volume to be lowered and the NYPD could pull the plug on the venue's summer shows. CBS News New York's Elle McLogan reports.
