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.
The president spoke less than 24 hours after the Senate approved the agreement in a bipartisan vote.
Congress agreed to raise the debt ceiling, averting what experts said could have been an economic crisis.
The debt ceiling deal has cleared both chambers of Congress and is headed to the president's desk.
The legislation now goes to President Biden's desk, pulling the nation back from the brink of a financial crisis.
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 House passed the bill to raise the debt ceiling Wednesday. Now, the Senate will take it up.
A majority of Democrats and a majority of Republicans voted in favor of the Fiscal Responsibility Act.
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.
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.
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."
CBS2's Cristian Benavides has more on what's in the deal.
After days of intense negotiations and weeks of talks, an agreement in principle has been reached to raise the debt ceiling.
The House Democratic leader said he can guarantee the U.S. will not default on its debt.
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.
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 largest nurses strike ever in New York City is underway as thousands of NYSNA members walk off their jobs at major hospitals.
As Kalshi and Polymarket become more popular, lawmakers in New York are scrambling to create new rules for prediction markets.
Jalen Brunson had 26 points and the Knicks snapped the Trail Blazers' five-game winning streak with a 123-114 victory Sunday.
The subpoenas threatened a criminal indictment related to Jerome Powell's testimony before the Senate Banking Committee in June 2025, according to the Fed chair.
The 2026 Golden Globes honored the standouts in both film and television from last year. See the full list of winners and nominees.
The largest nurses strike ever in New York City is underway as thousands of NYSNA members walk off their jobs at major hospitals.
As Kalshi and Polymarket become more popular, lawmakers in New York are scrambling to create new rules for prediction markets.
Once an elementary school teacher in the Bronx, Kamar Samuels now leads the nation's largest school system under NYC Mayor Zohran Mamdani.
The potential for a major nurses strike in New York City is growing by the minute, with major hospitals and the New York State Nurses Association failing to get a deal done before Sunday's midnight deadline.
At least 100 demonstrators took to New York City's Federal Plaza in the rain Saturday afternoon to condemn the shooting.
It was a mostly dry Sunday, until some snow squalls briefly hit the Tri-State Area on Sunday night.
Investigators said the victim was struck by a bullet inside his Danbury, Connecticut, home, and it came from the unit next door.
Enjoy the spring preview while it lasts because umbrellas will be your best friend this weekend!
It will feel more like March than January.
While Tuesday may have some bumps, the trend is toward milder, more pleasant weather.
Richard Codey, the former governor of New Jersey and the state's longest-serving lawmaker, has died, his family announced.
There were two deadly shootings in Middlesex County, New Jersey, just hours apart this weekend, both involving teenagers.
It was a mostly dry Sunday, until some snow squalls briefly hit the Tri-State Area on Sunday night.
New Jersey has confirmed its first pediatric flu death of the 2025-26 season, which health leaders warn has been seeing cases spread at alarming rates.
Police say a rock was thrown at a school bus on the New Jersey Turnpike, shattering a window and seriously injuring a young child.
New York state is taking legal action against the Trump administration for halting construction of five offshore wind farms.
It was a mostly dry Sunday, until some snow squalls briefly hit the Tri-State Area on Sunday night.
Enjoy the spring preview while it lasts because umbrellas will be your best friend this weekend!
John Pillaccio, accused in the fatal stabbing of a CVS employee on Long Island on Christmas Day, appeared before a judge on Wednesday.
It will feel more like March than January.
As Kalshi and Polymarket become more popular, lawmakers in New York are scrambling to create new rules for prediction markets.
The subpoenas threatened a criminal indictment related to Jerome Powell's testimony before the Senate Banking Committee in June 2025, according to the Fed chair.
Trump administration officials are set to meet with Danish officials about Greenland on Wednesday, diplomatic sources tell CBS News.
Once an elementary school teacher in the Bronx, Kamar Samuels now leads the nation's largest school system under NYC Mayor Zohran Mamdani.
President Trump appeared to lay out his red line of action on Friday when he warned that if the Iranian government began "killing people like they have in the past, we would get involved."
The largest nurses strike ever in New York City is underway as thousands of NYSNA members walk off their jobs at major hospitals.
The potential for a major nurses strike in New York City is growing by the minute, with major hospitals and the New York State Nurses Association failing to get a deal done before Sunday's midnight deadline.
New Jersey has confirmed its first pediatric flu death of the 2025-26 season, which health leaders warn has been seeing cases spread at alarming rates.
A potentially deadly and drug-resistant fungus is spreading nationwide, including New York and New Jersey.
Brooklyn-based Maimonides Health is merging with NYC Health + Hospitals, New York City health leaders announced.
The 2026 Golden Globes honored the standouts in both film and television from last year. See the full list of winners and nominees.
Here is everything you need to know about how to watch and stream the 2026 Golden Globes.
Bob Weir wrote or co-wrote and sang lead vocals on Grateful Dead classics including "Sugar Magnolia," "One More Saturday Night" and "Mexicali Blues."
Video of an angry confrontation during intermission at a performance of "Mamma Mia!" on Broadway is going viral on social media.
Weinstein's defense attorney told the judge he'd like to pursue plea negotiations after last year's mistrial on a rape charge.
Jalen Brunson had 26 points and the Knicks snapped the Trail Blazers' five-game winning streak with a 123-114 victory Sunday.
Cedric Coward hit two late 3-pointers and scored 21 points to help the Grizzlies hold off the Nets 103-98 on Sunday.
Cody Glass scored twice, but the Devils dropped their fourth straight, 4-3 to the Jets on Sunday.
The Islanders beat the Wild 4-3 on Saturday night.
Pavel Zacha recorded his first career hat trick - one of his goals coming while most of New York's players were in the locker room at the end of the first period - and the Boston Bruins coasted past the Rangers 10-2 on Saturday.
Legislation would protect and expand hunger programs and improve benefit security as New York pantries see rising demand.
The people and businesses of Ridgewood, Queens, have banded together to help those impacted by the recent apartment building fire.
Student athletes at a high school in Queens have won both state and national video game championships.
Thousands of teachers across New York are participating in a statewide campaign demanding pension reform.
For the 48th year, El Museo del Barrio hosted a parade in East Harlem for Three Kings' Day.
The Halloween tradition strolled through Manhattan's East Village on Sunday, with furry friends dressed in colorful costumes.
A suspect was taken into custody after an attack on Pearl Street Mall in Boulder on June 1 in which there were 15 people and a dog who were victims. The suspect threw Molotov cocktails that burned some of the victims, who were part of a march for Israeli hostages.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
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.
Dozens of residents were displaced after the fire on Washington Street injured more than 30 people, including two firefighters.
Police said the suspects chased down 17-year-old Josua Argudo in Woodhaven.
The FDNY said crews found elevated levels of carbon monoxide inside a home on West 6th Street in Gravesend.
John Elliott has the Tri-State Area's updated Monday morning First Alert Forecast on CBS News New York.
The largest nurses strike in New York City history is officially underway. CBS News New York's Christina Fan and Aziza Shuler report.
