Powell says the Fed was served DOJ subpoenas over building renovations
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.
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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.
Jerome Powell confirmed he's under investigation by the Trump administration regarding the renovation of the bank’s headquarters in Washington, D.C.
Federal Reserve Chair Jerome Powell has been under pressure from President Trump to lower the central bank's benchmark interest rate.
President Trump visited the Federal Reserve's headquarters in Washington, keeping up the intense pressure he's been putting on Fed chair Jerome Powell.
President Trump has lashed out against Federal Reserve Chair Jerome Powell for weeks.
CBS News Business Analyst Jill Schlesinger joins CBS New York to discuss what to expect from the Fed meeting.
Fed Chair Jerome Powell cites "high uncertainty" around the impact of Trump administration tariffs on key trading partners.
Thomas Hayes, Chairman and Managing Member at Great Hill Capital joins CBS New York to preview the fed meeting.
The Federal Reserve on Wednesday moved to lower its benchmark rate by 0.25 percentage points, but said it plans fewer cuts in 2025.
Ted Rossman, Bankrate Senior Industry Analyst joins CBS New York to preview what we can expect from this week's Federal Reserve meeting.
The Federal Reserve just lowered its benchmark rate by 0.50 percentage points. Here's how the move could impact your finances.
The Fed's decision will lower borrowing costs from a 23-year high as the central bank pivots to shoring up economic growth.
Thomas Hayes, chairman and managing member at Great Hill Capital, joins CBS New York to discuss the Fed meeting.
Stocks jump after Federal Reserve officials signal they're ready to push down borrowing costs as inflation continues to cool.
Latest hike brings the U.S central bank's benchmark interest rate to its highest level in 16 years.
The U.S. central bank eases up its efforts to curb inflation amid concerns about banking industry risks.
While the central bank is slowing its rate increases, Jerome Powell told investors not to expect lower rates this year.
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.
"Inflation is much too high," Fed Chair Jay Powell said of the U.S. central bank's largest rate hike since 1994.
As Americans face record high prices, President Biden has laid out a plan to get inflation under control. Natalie Brand reports for CBS2.
Mary Calvi talks to New York Times bestselling author Sadeqa Johnson about her new novel, "Keeper of Lost Children," based on the stories of mixed-race children abandoned in Germany after World War II.
Nancy Guthrie, the mother of "Today" show co-host Savannah Guthrie, was last seen on Jan. 31 and was reported missing the following day, Feb. 1.
As construction on New Jersey's Portal Bridge gets underway, NJ Transit and Amtrak riders will see some major changes for the next month.
It's been nearly three weeks since a January snowstorm hit New York City, and many cars still haven't moved.
Accumulating snow will return to the New York City area Sunday evening into Monday morning.
It's been nearly three weeks since a January snowstorm hit New York City, and many cars still haven't moved.
Accumulating snow will return to the New York City area Sunday evening into Monday morning.
A 17-year-old boy has been arrested in connection to a Bronx shooting that left one teenager dead and two hurt Wednesday.
A man was arrested Saturday after allegedly randomly attacking two women and a teenager in Sunset Park, Brooklyn.
NYSNA ratified contracts with Montefiore and Mount Sinai, clearing the way for nurses to return to work Saturday after walking off one month ago.
Accumulating snow will return to the New York City area Sunday evening into Monday morning.
Valentine's Day will be mild in the New York City area, but snow may be on the way to end the weekend.
New Yorkers felt much better on Tuesday as a warm front moved toward the region. But, snow and ice could make for a potentially dangerous evening.
A Cold Weather Advisory is in place through 10 a.m. on Monday for the entire Tri-State Area. As a result, a First Alert Weather Day will be in play for at least part of the day.
A Connecticut man was arrested after allegedly driving drunk in the Bronx and hitting pedestrians on a sidewalk Friday.
As construction on New Jersey's Portal Bridge gets underway, NJ Transit and Amtrak riders will see some major changes for the next month.
Accumulating snow will return to the New York City area Sunday evening into Monday morning.
Valentine's Day will be mild in the New York City area, but snow may be on the way to end the weekend.
A Palestinian woman who had been living and working in Paterson, New Jersey, suffered a seizure while in ICE custody in Texas, her legal team says.
Gov. Mikie Sherrill said officials expected the Trump administration to release more than $200 million in frozen funds by Friday, but they did not.
Accumulating snow will return to the New York City area Sunday evening into Monday morning.
Potholes are causing even more crashes on an already dangerous stretch of New York 25 on Long Island, officials say.
Hicksville is New York's first school district to ban e-bikes after alarming statistics revealed at least 12 people, mostly young Long Islanders, died on them in the past three years.
It has been a brutal viral season, but as RSV cases surged in New York, Northwell Health doctors say infant hospitalizations remained down, thanks to a fairly new vaccine.
Nassau County Executive Bruce Blakeman accepted the Republican Party's nomination for New York governor on Wednesday at the GOP convention in Garden City.
President Obama spoke about the "unprecedented nature" of what he said Immigration and Customs Enforcement agents did in Minnesota.
It's the second time in as many weeks that government funding has lapsed as Democrats and the White House remain at an impasse over immigration enforcement policies.
The mayor announced the plan to redesign Fordham Road was back on during a comically tight press conference aboard an MTA bus.
Gov. Mikie Sherrill said officials expected the Trump administration to release more than $200 million in frozen funds by Friday, but they did not.
President Trump pardoned five former NFL players - one posthumously - for crimes ranging from perjury to drug trafficking.
NYSNA ratified contracts with Montefiore and Mount Sinai, clearing the way for nurses to return to work Saturday after walking off one month ago.
The longest and largest nurses strike in New York City history is set to end after over three weeks as NYSNA says it has a tentative agreement.
Mount Sinai Health System and Anthem Blue Cross Blue Shield failed to reach a contract agreement by Dec. 31, which means about 9,000 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.
"Dawson's Creek" and "Varsity Blues" star James Van Der Beek has died at 48 years old.
New York City Department of Environmental Protection said there was a "significant reduction in water usage" throughout the Big Apple during his show. That changed as soon as his performance ended.
Catherine O'Hara, known for her roles in "Home Alone," "Schitt's Creek" and "Beetlejuice," died on Jan. 30 at the age of 71.
LUAR Creative Director Raul López says Lady Gaga's salsa-inspired dress in Bad Bunny's Super Bowl halftime show was a moment of pride for Caribbeans and Latinos.
Puerto Rican superstar Bad Bunny, born Benito Antonio Martínez Ocasio, is one of the most-streamed artists on the planet.
The short-handed Indiana Pacers beat the Brooklyn Nets 115-110 on Wednesday night.
Jose Alvarado scored a season-high 26 points and Mikal Bridges added 22 points as the New York Knicks beat the Philadelphia 76ers 138-89 Wednesday night.
Pascal Siakam scored 30 points and the Pacers snapped a four-game losing streak by holding off the Knicks with a 137-134 overtime victory on Tuesday night.
Nic Claxton scored 28 points and had 10 rebounds to lead the Nets to a 123-113 win over the Bulls on Monday night.
Zuby Ejiofor scored six of his 25 points in overtime and No. 17 St. John's outlasted pesky Xavier 87-82 on Monday night at Madison Square Garden.
A Brooklyn community is fighting to turn a forgotten landmark into a heritage center.
Edward R. Murrow High School's new boiler system cuts emissions while doubling as a hands-on sustainability lesson for students.
LUAR Creative Director Raul López says Lady Gaga's salsa-inspired dress in Bad Bunny's Super Bowl halftime show was a moment of pride for Caribbeans and Latinos.
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.
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 John Elliott spends a morning at Pearl River Mart, a family business that dates back to 1971 from Chinatown to SoHo.
New York Times bestselling author Sadeqa Johnson's new novel, "Keeper of Lost Children," is based on the stories of mixed-race children abandoned in Germany after World War II.
Mamdani signed the certificate of incorporation forming the Coney Island Business Improvement District at the entrance to Deno's Wonder Wheel.
Half of millennial couples are signing prenuptial agreements before they get married. Do New Yorkers think love is dead or are people being more practical?
Democratic Gov. Kathy Hochul and Republican Nassau County Executive Bruce Blakeman will go head-to-head in the New York governor's race in November.
