GDP report expected today
Depending on what the report says, we could be officially in a recession. CBS2's Zinnia Maldonado has more.
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Depending on what the report says, we could be officially in a recession. CBS2's Zinnia Maldonado has more.
The Federal Reserve, as expected, announced it is raising interest rates by three-quarters of a percentage point to help tamp down inflation. CBS News' Tanya Rivero and Christina Ruffini get analysis of the economic and political impact from Ted Rossman, senior industry analyst at Bankrate.com; CBS News political correspondent Caitlin Huey-Burns; and Michelle Singletary, Washington Post personal finance columnist.
The rise in the federal funds rate, which is what banks charge each other for overnight loans, comes as several significant pieces of economic data are released this week.
Prices for just about everything are at a 40-year high, and as CBS2's Dave Carlin reports, even the least expensive items at bodegas and shops around New York City are getting hit.
Inflation continues to squeeze consumers, so Wednesday, the Federal Reserve raised interest rates 0.75 percent, meaning it will cost more to borrow money. The economic trouble is leaving families more worried about their bottom lines. CBS2's Dick Brennan has more on the reason why we keep seeing rate hikes.
The move is meant to curb historically high inflation.
As CBS2's John Dias reports, there are a number of factors contributing to this key week for the state of the economy.
The nationwide average for a gallon of regular plunged to $4.36.
The newest figures are raising some serious concerns about our economy.
Inflation is hitting nearly every part of the economy and there is no quick end in sight, but as CBS2's Dick Brennan reports, many consumers continue to spend as the job market remains strong.
Many owners say they are making drastic changes to how they operate or closing down for good.
Inflation has flown past 9 percent, and we're all feeling the squeeze. Some restaurant owners told CBS2's Jenna DeAngelis they are either making changes or shutting down.
Prices continue to climb for everything from gas, to food and rent. CBS2's Lisa Rozner reports.
This comes as Americans see consumer prices skyrocket on everything from groceries to gas. CBS2's Elijah Westbrook reports.
Move comes in an effort to put the breaks on rising costs, but it means loans and credit cards will cost more.
CBS2's Nick Caloway has more on what this could mean for your wallet and investments.
"Inflation is much too high," Fed Chair Jay Powell said of the U.S. central bank's largest rate hike since 1994.
The Federal Reserve announced an aggressive interest rate hike. The move comes as a way to combat inflation. CBS2's Aundrea Cline-Thomas has a look at what this means for your wallet.
Many Americans are worrying about their retirement funds as stocks dropped drastically yesterday. CBS2's Elijah Westbrook has more on what this means.
Prices on just about everything are rising at a pace not seen in decades. While many people are feeling the squeeze, CBS2's Dick Brennan has more on how it can be especially tough for people on fixed incomes.
Prices are skyrocketing for everything from food to fuel, and inflation is surging at the fastest pace in more than 40 years. While just about everyone is feeling the squeeze, as CBS2's Dick Brennan reports, it can be especially tough for people on fixed incomes.
Americans are feeling the squeeze, struggling with the cost of everything from gas to groceries as U.S. inflation hits an all-time high. CBS2's Andrea Grymes spoke with frustrated consumers.
Stocks plunged Friday as U.S. inflation hit a new high. The Labor Department reports prices surged 8.6% and wages are not keeping up. CBS2's Andrea Grymes spoke with New Yorkers who say every little bit helps during this sticker shock.
The Labor Department reports prices may surge 8.6%.
As gas prices reach record highs, New York drivers are finally getting some relief at the pump. CBS2's Elijah Westbrook reports on the gas tax holiday.
Daniss Jenkins scored 18 points in his last game as a two-way player and the Detroit Pistons routed New York 118-80 on Friday night to end the Knicks' winning streak at eight games.
After their building managers were arrested on fraud charges, tenants in Queens say their apartments were left in chaos.
President Trump late Friday addressed a video posted to his social media account that included a racist depiction of Barack and Michelle Obama as apes, telling reporters he didn't see the part that showed the former president and first lady.
Police say Amira Aminova, 11, died Thursday after she was struck by a school bus while crossing the street in Bath Beach, Brooklyn.
Mount Sinai and Anthem Blue Cross Blue Shield failed to reach a contract agreement by Dec. 31, which means about 9,000 Mount Sinai physicians are no longer considered in-network.
After their building managers were arrested on fraud charges, tenants in Queens say their apartments were left in chaos.
Police say Amira Aminova, 11, died Thursday after she was struck by a school bus while crossing the street in Bath Beach, Brooklyn.
Mount Sinai and Anthem Blue Cross Blue Shield failed to reach a contract agreement by Dec. 31, which means about 9,000 Mount Sinai physicians are no longer considered in-network.
New York City and the Tri-State Area are preparing for what is expected to be the coldest weather of the season so far this weekend.
Harlem's Schomburg Center for Research in Black Culture centennial anniversary began last year, and 2026 marks 100 years since the library became owner of its namesake's personal collection, making it a full-fledged research center.
Parts of New York and Connecticut could see snow Friday into Saturday. A First Alert Weather Day is in effect for the weekend due to dangerously cold temperatures.
Bundle up — New York City and the Tri-State Area's stretch of dangerously cold weather continues, and it's sticking around longer than anyone would like.
New York, New Jersey and Connecticut were pivotal during America's birth. This year, as the nation celebrates its 250th birthday, CBS News New York is highlighting the hidden history in our own back yard.
Forecasters are watching for a chance of snow this weekend in New York and New Jersey as harsh winter weather conditions continue.
The First Alert Weather Team is tracking a storm that could bring snow to the New York and New Jersey area. Frigid temperatures will last throughout the week.
New York City and the Tri-State Area are preparing for what is expected to be the coldest weather of the season so far this weekend.
The Democratic primary race for the Congressional seat vacated by Gov. Mikie Sherrill is too close to call.
Gateway Tunnel construction may resume after a federal judge temporarily blocked President Trump's funding freeze for New York and New Jersey's $16 billion infrastructure project.
The entire Tri-State Area will be under an Extreme Cold Warning as dangerously cold temperatures settle in, along with some snow.
After a portion of the Keansburg Fishing Pier crashed into the Raritan Bay, there's now concern at other marinas and piers that are being hit by ice chunks.
A Long Island man accused of driving drunk and killing a Nassau County police officer appeared in court Friday. Matthew Smith entered a not guilty plea.
The entire Tri-State Area will be under an Extreme Cold Warning as dangerously cold temperatures settle in, along with some snow.
The goal is to get patients drunk and high at a new research lab on the border of Nassau County and Queens.
The Patchogue-Medford School District said in a letter that the Suffolk County Department of Health alerted them about an infectious person in the school community.
Parts of New York and Connecticut could see snow Friday into Saturday. A First Alert Weather Day is in effect for the weekend due to dangerously cold temperatures.
President Trump late Friday addressed a video posted to his social media account that included a racist depiction of Barack and Michelle Obama as apes, telling reporters he didn't see the part that showed the former president and first lady.
New York City and the Tri-State Area are preparing for what is expected to be the coldest weather of the season so far this weekend.
The Democratic primary race for the Congressional seat vacated by Gov. Mikie Sherrill is too close to call.
Gateway Tunnel construction may resume after a federal judge temporarily blocked President Trump's funding freeze for New York and New Jersey's $16 billion infrastructure project.
The footage is included in a video that promotes false claims that the 2020 presidential election was rigged against Mr. Trump.
Mount Sinai and Anthem Blue Cross Blue Shield failed to reach a contract agreement by Dec. 31, which means about 9,000 Mount Sinai physicians are no longer considered in-network.
Brooklyn's Green-Wood Cemetery is set to become the first on the East Coast to offer human composting.
The goal is to get patients drunk and high at a new research lab on the border of Nassau County and Queens.
The Patchogue-Medford School District said in a letter that the Suffolk County Department of Health alerted them about an infectious person in the school community.
Day 25 of the New York City nurses strike saw protests, arrests and some progress in the negotiations.
Two-for-one tickets are returning for New York City's Off-Broadway Week.
The sheriff says the note was sent to a local Arizona news station, which agreed not to report on it, following the disappearance of "Today" show co-host Savannah Guthrie's mother, Nancy Guthrie.
Chuck Negron, a founding member of Three Dog Night whose lead vocals powered a string of hits for one of the top rock acts of the late 1960s and early '70s has died. He was 83.
Popular singer-songwriter Noah Kahan will be bringing his tour to New York City this summer. "The Great Divide" tour will stop at Citi Field on July 18.
Bad Bunny used his Grammy acceptance speech on Sunday to denounce U.S. Immigration and Customs Enforcement and call for the end of the ongoing immigration crackdown.
Daniss Jenkins scored 18 points in his last game as a two-way player and the Detroit Pistons routed New York 118-80 on Friday night to end the Knicks' winning streak at eight games.
The New York Knicks are acquiring guard Jose Alvarado from the New Orleans Pelicans, according to a person with knowledge of the trade deal.
The New York Islanders went into the Olympic break with a 3-1 win over the New Jersey Devils on Thursday night.
Jalen Suggs had his first career triple-double, leading the Orlando Magic to a 118-98 victory over the Brooklyn Nets.
The Hurricanes topped the Rangers 2-0 on Thursday night to extend their points streak to 10 games.
After their building managers were arrested on fraud charges, tenants in Queens say their apartments were left in chaos.
Harlem's Schomburg Center for Research in Black Culture centennial anniversary began last year, and 2026 marks 100 years since the library became owner of its namesake's personal collection, making it a full-fledged research center.
Brooklyn's Green-Wood Cemetery is set to become the first on the East Coast to offer human composting.
Dozens of middle school girls celebrated National Girls and Women in Sports Day at the Brooklyn Basketball Training Center on Wednesday.
A group of senior dancers aged 70 and up shine on stage at the Korean Community Services' center in Queens. They practice in Flushing twice a week and perform at events citywide.
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.
CBS News New York's Lonnie Quinn has your First Alert Forecast for February 6 at 11 p.m.
Dozens of students and their families face removal from a Queens shelter, which is being converted to a single-adult facility.
Friday evening, President Trump said he would not apologize to the Obamas after posting a video on Truth Social that depicted former President Barack Obama and former First Lady Michelle Obama as apes.
A judge has issued a temporary restraining order banning the Trump administration from freezing federal funds for the Gateway Tunnel Project.
Police say an AirTag helped them locate and rescue a missing man who was exposed to freezing temperatures for hours on the Hoboken-Jersey City border.
