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.
Watch CBS News
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.
Mayor Eric Adams' massive rezoning plan known as "City of Yes" cleared a major hurdle Thursday, passing key City Council committee votes, with some modifications. It can now move ahead to a full City Council vote.
Lucas Raymond scored with 51 seconds remaining and the Detroit Red Wings beat the New York Islanders on Thursday night.
The New Jersey Devils downed the Carolina Hurricanes on Thursday night.
A 9/11 memorial was vandalized inside a church in Midtown Manhattan on Wednesday, and police say the suspect is seen on video walking out with a piece of the artwork.
Thursday marks exactly 60 years since the Verrazzano-Narrows Bridge opened to much fanfare.
Mayor Eric Adams' massive rezoning plan known as "City of Yes" cleared a major hurdle Thursday, passing key City Council committee votes, with some modifications. It can now move ahead to a full City Council vote.
A 9/11 memorial was vandalized inside a church in Midtown Manhattan on Wednesday, and police say the suspect is seen on video walking out with a piece of the artwork.
Thursday marks exactly 60 years since the Verrazzano-Narrows Bridge opened to much fanfare.
Nov. 29 is the last day for New York City restaurants to remove roadway dining sheds, which will now be seasonal under new regulations set by the City Council.
Yankees outfielder Aaron Judge was a unanimous pick to win his second American League Most Valuable Player Award in three seasons on Thursday.
Jodi Rell, who became Connecticut's second female governor when John Rowland resigned in a corruption scandal, has died at 78.
The weather is shifting and bringing much-needed rain to the Tri-State Area. There may even be snow in parts of New York.
It looks like the Tri-State Area will get a substantial soaking of rain later this week, something it definitely needs due to the risk of wildfires.
The risk of wildfire development will remain elevated across the Tri-State Area through the next several days.
A Red Flag Warning is in effect today across the entire Tri-State Area until 6 p.m.
A Woodbridge, New Jersey homeowner was arrested Thursday after investigators say he started a fire that damaged six homes, including his own.
The Justice Department says it found a pattern of misconduct and civil rights violations by the Trenton Police Department.
Burn bans in New Jersey have been lifted after significant rainfall in the state.
A crane accident in Montville, New Jersey turned a routine tree trimming job into a chaotic mess when the machine fell onto a house.
New Jersey Gov. Phil Murphy updated commuters Wednesday on what's being done to correct issues on the rails.
A plan to regionalize some public school services in New York state has set off alarm bells among many parents and educators on Long Island.
The iconic Stella Ristorante in Floral Park, Long Island will close on Dec. 31 after 64 years in business.
The weather is shifting and bringing much-needed rain to the Tri-State Area. There may even be snow in parts of New York.
Dozens of Suffolk County homeowners are shocked after they say FEMA denied their requests for aid after storms caused devastating damage in August.
Leaders in Nassau and Suffolk counties rolled out a strategy Monday to try and stop congestion pricing.
President-elect Donald Trump made the announcement Thursday evening after Matt Gaetz withdrew himself from consideration.
A plan to regionalize some public school services in New York state has set off alarm bells among many parents and educators on Long Island.
President-elect Donald Trump announced Gaetz as his nominee to be attorney general last week.
Jodi Rell, who became Connecticut's second female governor when John Rowland resigned in a corruption scandal, has died at 78.
New York City special education students are not getting the services they were promised, according to the United Federation of Teachers.
Lattes and other espresso-based drinks may not be available at some McDonald's restaurants due to a glitch with coffee machines.
The packaging label omitted a key ingredient, prompting a Food and Drug Administration recall.
The manufacturer of tumblers sold at Wawa stores says it has received four reports of cuts from the product's metal drinking straws.
Decision to cut topping comes as officials work to confirm source of E. coli outbreak linked to McDonald's Quarter Pounders.
Gov. Kathy Hochul on Tuesday announced a $150 million investment in a new state-of-the-art cell and gene therapy hub to be built on Long Island.
Chris Stapleton took home four Country Music Association Awards and hardly left the stage on Wednesday night, while an absent Morgan Wallen won the night's biggest prize, entertainer of the year.
The leader of a New York City church where pop star Sabrina Carpenter filmed scenes for a music video has been stripped of his duties.
Sean "Diddy" Combs has tried to reach out to prospective witnesses and sway public opinion from jail in NYC to influence potential jurors in his sex trafficking trial, prosecutors say.
Betty White will be honored with a stamp in 2025, the U.S. Postal Service announced on Friday.
Six Flags announced it shut down the Kingda Ka and Green Lantern roller coasters to make way for two new rides including The Flash coaster.
Lucas Raymond scored with 51 seconds remaining and the Detroit Red Wings beat the New York Islanders on Thursday night.
The New Jersey Devils downed the Carolina Hurricanes on Thursday night.
Yankees outfielder Aaron Judge was a unanimous pick to win his second American League Most Valuable Player Award in three seasons on Thursday.
The new soccer stadium across from Citi Field will be called Etihad Park, NYCFC and the United Arab Emirates airline announced.
Jalen Brunson scored 36 points, Karl-Anthony Towns added 34 and the Knicks beat the Suns 138-122 for their fourth straight win.
Thursday marks exactly 60 years since the Verrazzano-Narrows Bridge opened to much fanfare.
Nov. 29 is the last day for New York City restaurants to remove roadway dining sheds, which will now be seasonal under new regulations set by the City Council.
A new state-of-the-art trash system in NYCHA's Polo Grounds Towers in Harlem promises to tackle energy, rodent and recycling issues.
Families in Central Harlem will soon settle into their new homes at Marcus Garvey Village, which also brings free gathering spaces to the community and an LGBTQ center.
The Hispanic Society's new exhibit traces how different cultures influenced the women of Spain as they found their own voices throughout history.
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."
Police are looking for a man accused of stealing from a 9/11 memorial at a church in Midtown Manhattan.
An arrest has been made after a woman was found dead in her Paramus home Monday afternoon.
Legendary composer John Kander was honored at his Broadway musical "Cabaret" on Wednesday night.
A traffic agent was attacked over a ticket in Brooklyn on Wednesday, and now police are looking for the suspect.
The suspect accused of slashing a tourist on the Upper West Side on Wednesday is now in custody, and police say his mother turned him in.
