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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.
Politics was on the minds of many at the annual New York City Pride March on Fifth Avenue on Sunday.
The Yankees left Toronto with a split of their four-game series against the Blue Jays with an 8-1 win on Sunday.
Therése Gedda, who has been advising CEOs for more than 20 years, weighs in on whether the traditional office will become extinct one day.
The state attorney general is investigating the shooting of Nyah Mway, who was born in Myanmar and is a member of its Karen ethnic minority.
Sunday is expected to be the busiest day of the summer travel season, but severe thunderstorms have caused delays and cancelations.
Politics was on the minds of many at the annual New York City Pride March on Fifth Avenue on Sunday.
Therése Gedda, who has been advising CEOs for more than 20 years, weighs in on whether the traditional office will become extinct one day.
Sunday is expected to be the busiest day of the summer travel season, but severe thunderstorms have caused delays and cancelations.
New video shows the suspects police are searching for in a brutal baseball bat attack last week in New York City.
The Dalai Lama, Tibet's 88-year-old spiritual leader, underwent a knee replacement surgery on Friday at the Hospital for Special Surgery on Manhattan's Upper East Side.
Severe thunderstorms are sweeping through New York, New Jersey and Connecticut today, with the chance of an isolated tornado. See the latest weather maps and live radar.
A tractor-trailer accident on I-95 in Greenwich, CT had southbound lanes backed up for the morning commute.
Severe thunderstorms moved through New York and New Jersey on Wednesday evening, causing widespread power outages and other damage.
U.S. News & World Report released its 2024 college rankings Tuesday, and some Tri-State Area schools ranked among the best in the world.
Parts of New Jersey are back under a heat advisory Wednesday.
Sunday is expected to be the busiest day of the summer travel season, but severe thunderstorms have caused delays and cancelations.
Severe thunderstorms are sweeping through New York, New Jersey and Connecticut today, with the chance of an isolated tornado. See the latest weather maps and live radar.
With a 15% fare hike for NJ Transit riders set to go into effect Monday, commuters protested Friday outside the agency's headquarters, saying they've been plagued with service delays and cancellations.
Court documents reveal disturbing new details in the case of a mother accused of drowning her two young children in Lakewood, New Jersey.
New Jersey police arrested Junior Nunez, 33, on Friday morning after issuing an Amber Alert for a 2-year-old boy from Paterson.
Severe thunderstorms are sweeping through New York, New Jersey and Connecticut today, with the chance of an isolated tornado. See the latest weather maps and live radar.
Long Island police said Steven Schwally, 64, was drunk and speeding when he crashed an SUV into a nail salon Friday, killing an off-duty NYPD officer and three other people.
At least four people were killed and nine injured when a driver crashed through the front of a nail salon on Long Island.
A pocket watch that belonged to President Theodore Roosevelt is back in its rightful place. The 126-year-old cherished possession has been recovered after being stolen from an exhibit in 1987.
Nearly half a dozen suburban freshman Republicans in New York have targets on their backs as Democrats hope to take control of the House after the November elections.
Politics was on the minds of many at the annual New York City Pride March on Fifth Avenue on Sunday.
Some Democrats question Biden's ability to campaign in the 2024 presidential election, divide over whether he should be the nominee, after voters say Trump won debate.
Negotiations went down to the wire, but Mayor Eric Adams and the New York City Council agreed on a $112.4 billion budget that will go into effect Monday.
The New Jersey Democrat and his wife are accused of accepting gold bars, a Mercedes and cash in exchange for using his political influence to help three businessmen and two foreign governments.
President Biden and former President Donald Trump squared off for the first presidential debate of the election season. Watch highlights and key moments here.
The New York City Virus Hunters are getting their hands dirty to find out which little birdies might be carrying a deadly disease in Central Park.
"We can serve payers very effectively from the footprint that remains," CEO Tim Wentworth says of the coming Walgreens closures.
The advisory issued by Dr. Vivek Murthy came as the U.S. grappled with another summer weekend marked by deadly mass shootings.
One bill being fast-tracked would make abortions free in New Jersey by eliminating co-pays.
A beloved Queens DJ, known for his selfless generosity, is himself in need of support as he seeks a kidney donor.
From the moment she first began appearing at the side of John F. Kennedy Jr., Carolyn Bessette became one of the most photographed women in the world. Her personal style continues to have an impact 25 years following her death.
Mets infielder José Iglesias performed his song "OMG" live at Citi Field after the team's 7-2 win over the Houston Astros.
Martin Mull came to national fame with a recurring role on the Norman Lear-created satirical soap opera "Mary Hartman, Mary Hartman," and the starring role in its spinoff, "Fernwood 2 Night."
The original 1997 illustration for the front of the first Harry Potter book has set a record for Potter-themed memorabilia on the auction block.
"CBS News 24/7," a daily flagship show featuring live reporting from CBS News and Stations' local-to-global newsrooms, brings viewers a dynamic and immersive news experience.
The Yankees left Toronto with a split of their four-game series against the Blue Jays with an 8-1 win on Sunday.
Cameron Harper scored late in the second half to rally New York to a 2-2 draw with D.
Alex Bregman put Houston ahead with a two-run single in the eighth inning and the surging Astros rallied from five runs down for a 9-6 victory over the New York Mets.
The Yankees, who won Friday to snap a season-worst four-game losing streak, lost for the 10th time in their past 13 games.
Mets infielder José Iglesias performed his song "OMG" live at Citi Field after the team's 7-2 win over the Houston Astros.
Queens residents who lost their homes in an apartment building fire six months ago say they are again searching for somewhere to live as their temporary housing agreements expire.
The New York City Virus Hunters are getting their hands dirty to find out which little birdies might be carrying a deadly disease in Central Park.
Lillian Wong of Queens is trying to solve the mystery of money being withdrawn from her dead son's bank account.
A commercial stretch along 86th Street in Bensonhurst has become a hotbed of illegal vending, according to Councilwoman Susan Zhuang.
Environmental groups in the South Bronx say the neighborhood is feeling the worst of the heat and humidity because of air pollution.
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.
CBS New York's Vanessa Murdock has the latest on lingering severe weather in the Tri-State Area on Sunday night.
President Biden is vowing to stay in the race, despite the poll finding voters widely believe Donald Trump won the debate. CBS New York's Jessica Moore reports.
The Hostages Families Forum hosted Sunday's event at 90th Street and Central Park West, and read the names of every hostage still in captivity, 268 days later. CBS New York's Jessica Moore reports.
Sunday's march happened 55 years after an uprising against police at the Stonewall Inn in the West Village, sparking a global LGBTQ rights movement. CBS New York's Derick Waller reports.
CBS New York's Jessica Moore has the story.