Some Shoppers Panicking As Prices Soar, But Experts Say It's Temporary
In June, consumer prices accelerated at the fastest pace since 2008.
In June, consumer prices accelerated at the fastest pace since 2008.
Pent up by COVID-19 lockdowns, a majority of Americans have indicated they will embark on a post-pandemic buying spree.
The Group of Seven wealthy democracies agreed Saturday to support a global minimum corporate tax of at least 15% to deter multinational companies from stashing profits in low-rate countries.
Some Americans still do not have proper access to high-speed internet, which puts a strain on the economy and is leaving minorities and low-income families with an education deficit. President Biden's $3 trillion infrastructure plan could begin to tackle the issue, but there is still more to be done. CBS News political contributor and BluePrint Strategy founder Antjuan Seawright and Simmons University associate professor Colin Rhinesmith joined CBSN's Lana Zak to discuss.
It's back to business for Bar Dough in Hell's Kitchen, where 50% of its employees are now back to work after COVID-19 restrictions forced the restaurant to shut down in January for two months.
It's one of the busiest trade routes in the world, with ships carrying everything from crude oil, clothing, furniture, car parts and toilet paper.
The pandemic-fueled economic crisis has forced many people to face tough new realities. Some industries have barely survived, but others have found a way to thrive.
It's a holiday unlike any other. Millions of Americans struggling financially are worrying about their inability to give traditional tips to deserving service workers that they depend on.
The team is poised to take the helm of the federal government as the nation grapples with the economic fallout of the coronavirus pandemic.
Volunteers were giving away boxes of groceries to 500 families in Washington Heights. Many people waiting told CBS2 the food will help them stretch their unemployment checks.
Analysts said the country's latest jobs report was better than expected, but still cause for concern.
Employers added 1.8 million jobs last month, the Labor Department said Friday, meaning only about 40% of the country's jobs lost during the March and April shutdowns have been regained.
A number of struggling New Yorkers are adjusting to changing financial realities with rising unemployment and a worsening economy
De Blasio spoke about the $600 weekly unemployment benefit that is set to expire Friday, and criticized the Senate majority for blocking a stimulus bill that he believes is desperately needed.
The U.S. economy shrank at a record-breaking 32.9% rate in the second quarter of this year as Americans sheltered at home during the coronavirus pandemic, the Commerce Department said Thursday.
Treasury Secretary Steven Mnuchin announced Thursday that the White House and Senate Republicans have reached a "fundamental agreement" on their opening offer, CBS News reports.
The number of Americans seeking unemployment benefits rose for the first time since the pandemic hit in March.
Even with small businesses reopening in New York, some fear that they won't be able to stay open.
Malls will have limited capacity to prevent crowding and shoppers must wear face coverings.
Phase 4 was supposed to include movie theaters, malls and gyms, but that isn't the case.
Businesses must operate at only 25% capacity with proper safety measures in place, and face coverings are required.
Earlier this week, the mayor and governor said they were considering pumping the brakes on indoor dining.
Phase 3 includes restaurants with indoor dining at 50% capacity, plus more personal care services, like spas, nail salons, tattoo parlors and more.
CBS2's Nick Caloway reports plenty of people were smiling behind their face coverings as they went to get the hair and nails done for the first time in months.
All establishments must follow social distancing rules, and employees and customers have to wear face coverings if they're within six feet of people.
NYC Mayor Eric Adams faces arraignment Friday after his indictment on federal bribery and campaign finance charges.
Rookie receiver Malik Nabers suffered a concussion late in the Giants' 20-15 loss to the Cowboys on Thursday night.
Aaron Judge and Giancarlo Stanton homered and Gerrit Cole pitched into the 7th in the Yankees' 10-1 win over the Orioles on Thursday.
New Jersey police found over 100 illegal weapons and ammo stashed inside a home in Totowa after a man shared a picture of himself pointing a gun on social media.
The incoming head of New York City Public Schools sat down Thursday with CBS News New York, one day after she was appointed to replace the retiring David Banks.
NYC Mayor Eric Adams faces arraignment Friday after his indictment on federal bribery and campaign finance charges.
Aaron Judge and Giancarlo Stanton homered and Gerrit Cole pitched into the 7th in the Yankees' 10-1 win over the Orioles on Thursday.
The incoming head of New York City Public Schools sat down Thursday with CBS News New York, one day after she was appointed to replace the retiring David Banks.
As Mayor Eric Adams faces federal bribery charges, NYC Public Advocate Jumaane Williams would become acting mayor if he resigns.
Read New York City Mayor Eric Adams' five count indictment in New York on conspiracy, wire fraud, and bribery charges here.
New York and New Jersey could see the first significant rainfall in weeks over the next couple days. See the maps.
The U.S. News and World Report college rankings list New York, New Jersey and Connecticut's Ivy League schools among the best for 2025.
NYC's dry spell continued over the weekend, despite the clouds and rain chances in the forecast. How much longer will it last?
After 10 consecutive days without rain, NYC and its suburbs are expecting showers in the weather forecast today.
This National Voter Registration Day, here's a reminder about how to register to vote across New York, New Jersey and Connecticut.
New Jersey police found over 100 illegal weapons and ammo stashed inside a home in Totowa after a man shared a picture of himself pointing a gun on social media.
Couples desperate to find a new place to get married after a wedding venue in New Jersey abruptly closed are getting some help.
A popular New Jersey wedding venue recently closed, leaving couples scrambling to find a new place to get married.
New York and New Jersey could see the first significant rainfall in weeks over the next couple days. See the maps.
The former Beatles drummer was set to play in Philadelphia with his All Starr Band on Sept. 24 and in New York the following night.
There's a tragic update to the weekend crash in West Babylon. Bella Trezza, 17, has died. She had been fighting for her life since the crash.
Long Island Republican Congressman Anthony D'Esposito allegedly gave part-time jobs to both his lover and fiancée's daughter.
A Long Island community is praying for Bella Trezza, her brother Austin, Jack Murphy, Anthony Pagliuca and the family of Riley Goot following a deadly crash.
The power of prayer and community was palpable at a candlelight vigil for four teenagers who are fighting for their lives following a deadly multi-car crash in West Babylon on Saturday.
Days after Donald Trump's campaign rally, security is high around Nassau Coliseum again Sunday for Indian Prime Minister Narendra Modi.
NYC Mayor Eric Adams faces arraignment Friday after his indictment on federal bribery and campaign finance charges.
The incoming head of New York City Public Schools sat down Thursday with CBS News New York, one day after she was appointed to replace the retiring David Banks.
The Biden administration is planning to issue a regulation to cement the sweeping asylum restrictions it enacted at the southern border over the summer.
As Mayor Eric Adams faces federal bribery charges, NYC Public Advocate Jumaane Williams would become acting mayor if he resigns.
Read New York City Mayor Eric Adams' five count indictment in New York on conspiracy, wire fraud, and bribery charges here.
Ten deaths have been linked to now-recalled Boar's Head products.
New York state announced Monday that someone in Ulster County has died from eastern equine encephalitis, or EEE.
Parents of kids injured at birth due to medical malpractice say New York is denying their claims under the state's Medical Indemnity Fund, which promises lifelong health care.
New York City Health Commissioner Dr. Ashwin Vasan is resigning and will step down in January.
The New York resident who tested positive for the mosquito-borne EEE virus has died, prompting state health officials to declare an "imminent threat to the public for EEE."
The adventure begins for 16 ordinary Americans as they embark on their trek to the top of the treacherous New Zealand Alps in 'The Summit.'
The former Beatles drummer was set to play in Philadelphia with his All Starr Band on Sept. 24 and in New York the following night.
The industry data and analytics company Luminate said the music mogul's music saw an average 18.3% increase in on-demand streams.
Actors Olivia Munn and John Mulaney announced the birth of their second child, daughter Méi June Mulaney, via surrogate.
Since their debut nearly 35 years ago, Pearl Jam has been one of the world's most popular and influential rock groups. Lead singer Eddie Vedder and bassist Jeff Ament talk about success, friendship, creativity, and giving back to their loyal fans.
Rookie receiver Malik Nabers suffered a concussion late in the Giants' 20-15 loss to the Cowboys on Thursday night.
Aaron Judge and Giancarlo Stanton homered and Gerrit Cole pitched into the 7th in the Yankees' 10-1 win over the Orioles on Thursday.
Stadiums in Pittsburgh, New Jersey, Seattle, and Tampa have been picked as emergency locations.
Aaron Judge homered for the fourth straight game, his 57th overall, but the Yankees lost to the Orioles 9-7 on Wednesday.
The Orioles clinched their second straight playoff berth, overcoming Aaron Judge's 56th home run to beat the Yankees 5-3 on Tuesday night.
Despite being billed as a popular initiative aimed to create vibrant public spaces, some NYC business owners are pushing back against Open Streets.
Curators of Harlem Sculpture Gardens are revealing their research into climate change on Uptown parks.
We took an inside look at the operations of New York City's primary recycling center during Climate Week 2024.
Frustrated residents in Greenpoint claim a concrete plant in their neighborhood is a bad actor that's polluting their community.
The HOPE Inside Center within the Harlem Wells Fargo has helped more than 500 people increase savings and decrease debt for free.
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.
New York City Mayor Eric Adams faces arraignment Friday after his indictment on federal bribery and campaign finance charges. CBS News New York has team coverage.
The development comes as sources tell CBS News New York the city's Department of Investigation has been looking into Sheriff Anthony Miranda and whether his office improperly seized cash from raids on illegal cannabis shops.
CBS News New York's Tony Sadiku has the latest weather forecast.
New York City Mayor Eric Adams is expected to appear in court Friday to be arraigned on federal bribery, conspiracy and campaign finance charges. CBS News New York's Christina Fan and Natalie Duddridge have team coverage of the historic indictment.
CBS News New York's Lonnie Quinn says it's possible the Tri-State Area could see some rain from Hurricane Helene at some point.