Here's what experts say is behind bitcoin's $800 billion drop
Bitcoin has erased all of its 2025 gains and is on track for its worst monthly performance since 2022. Here's what experts say about the decline.
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Bitcoin has erased all of its 2025 gains and is on track for its worst monthly performance since 2022. Here's what experts say about the decline.
The Federal Reserve announced its second interest-rate cut of 2025 Wednesday, lowering its benchmark rate by 0.25 percentage points.
The Federal Reserve is slated to meet to consider another rate cut. It comes even as a near-total blackout of federal economic data continues with the government shutdown. Hear more on how a rate cut could impact your money on our new CBS News Philadelphia In Your Corner podcast.
President Trump has lashed out against Federal Reserve Chair Jerome Powell for weeks.
Federal Reserve Chairman Jerome Powell warned this week that President Trump's tariff plan could cause higher unemployment, inflation and a potential economic slowdown. Jim Donovan has your latest morning headlines with weather from Meteorologist Grant Gilmore.
The Federal Reserve just lowered its benchmark rate by 0.50 percentage points. Here's how the move could impact your finances.
The Federal Reserve is leaving its benchmark interest rate unchanged as investors look for signals that a cut is imminent.
The Fed left its benchmark interest rate unchanged amid persistent inflation. Bankers are predicting three rate cuts later this year.
The Fed is meeting today to decide whether to again raise rates as it battle inflation. Here's what it means for interest rates and mortgages.
Although inflation has slowed sharply, Fed officials are again tapping the brakes to ensure the economy slows.
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
After raising rates from zero to 5% in 15 months, the central bank is pausing to assess the economic impact of monetary tightening.
The Federal Reserve is hitting the pause button on interest rates, thanks in part, to the latest inflation numbers from May. Jessica Kartalija reports. READ MORE: https://cbsloc.al/3qGC22S
President Biden is hoping to stack the Central Bank with its top governors as it continues working to stem inflation.
The regional lender, whose collapse is the second-biggest bank failure in U.S. history, is the third bank to be seized by regulators since March.
The U.S. central bank eases up its efforts to curb inflation amid concerns about banking industry risks.
All deposit accounts at Silicon Valley Bank and Signature Bank in New York will be guaranteed, the Federal Reserve, Treasury Dept. and FDIC said in a joint statement.
Because inflation is easing, Fed is increasing rates at slower pace. But borrowing will still be more expensive.
Rates are at their highest level in 15 years as policymakers try to tamp down inflation without torpedoing the economy.
Latest jump is the fourth supersized rate hike this year, as the central bank tries to subdue stubbornly high inflation.
On today's show, Matt discussed Jill Stein's failed recount effort in PA, Trump's reaffirmed victory in Wisconsin, and whether or not you're obligated to tip around the holidays. At 4pm retired secret service agent Robert Caltabiano joined the show to discuss potential Russian hacking of US political institutions. At 5:30pm author and Forbes contributor Chris Versace checked in to tell us what we can expect from the market before the years end.
Janet Yellen expects interest rates to "gradually increase," but she did not specify a timetable.
Federal Reserve Chair Janet Yellen's speech to the World Affairs Council in Philadelphia on Monday was a last chance to get insights into Fed thinking on its next rate move, before next week's monetary policy meeting.
The Fed's decision to raise rates is in many ways a healthy sign: It's a vote of confidence that the economy, 6½ years after the Great Recession officially ended, can finally withstand higher borrowing costs and keep growing at an acceptable pace.
"The media portrays him as just grabbing publicity, but I think he is taking a serious look at it and looking at all of the pros and cons," Forbes said.
Damage could be seen at the home on South 47th Street near Kingsessing Avenue.
Most major retail stores and grocery chains are closed on Christmas Day, with some exceptions.
Christmas Day will be sunny, but dangerous weather is expected Friday and Saturday in the Philadelphia area.
Hundreds of people packed Philadelphia's Cathedral Basilica of Saints Peter and Paul in Logan Square on Christmas Eve.
A single winning ticket was sold for Powerball's Christmas Eve jackpot of $1.817 billion, in Arkansas. It was the second-largest U.S. lottery jackpot ever won.
Christmas Day will be sunny, but dangerous weather is expected Friday and Saturday in the Philadelphia area.
While retailers like Amazon, Macy's and Target are extending their return window for gifts bought during the holidays, some stores are adding fees to return purchases.
Damage could be seen at the home on South 47th Street near Kingsessing Avenue.
Most major retail stores and grocery chains are closed on Christmas Day, with some exceptions.
The police chief of Bristol Township, Pennsylvania, says the incident response after the nursing home explosion is the largest he's ever seen in 20 years.
Damage could be seen at the home on South 47th Street near Kingsessing Avenue.
Hundreds of people packed Philadelphia's Cathedral Basilica of Saints Peter and Paul in Logan Square on Christmas Eve.
The Wissahickon school board voted to terminate Lower Gwynedd Elementary School Principal Philip Leddy.
The police chief of Bristol Township, Pennsylvania, says the incident response after the nursing home explosion is the largest he's ever seen in 20 years.
Bucks County officials say the two people killed after explosions at a Bristol nursing home were a resident and a staff member.
Here are mall opening and closing hours for the Christmas and Christmas Eve holidays around the Philly region.
The holiday rush was on Sunday night as shoppers scrambled to get their last-minute holiday gifts inside the Cherry Hill Mall.
Philadelphia and South Jersey residents were left shaken after powerful winds sent massive trees onto homes and vehicles Friday.
A man and his baby are safe after a tree fell onto their home in Washington Township, police said.
Mayor Marty Small, who was accused of physically and emotionally abusing his teenage daughter, was found not guilty Thursday.
Tributes are pouring in for Delaware State Police Cpl. Matthew "Ty" Snook, who was shot and killed in Wilmington.
Delaware State Police said Cpl. Matthew "Ty" Snook served since 2015.
A Delaware state trooper and the suspect are dead after a shooting at the DMV in Wilmington, Delaware, on Tuesday, officials say.
Here are mall opening and closing hours for the Christmas and Christmas Eve holidays around the Philly region.
A family-owned Chinese restaurant became ZEEK's makeshift studio after he picked up a food delivery order nearly two years ago.
Thousands of Pennsylvanians are dropping their health insurance as premiums are set to double on Jan. 1, 2026.
Hearing technology helps deaf and hard-of-hearing students perform at the annual holiday show in Overbrook.
A Pennsylvania man visited Penn to thank the surgeon who saved his life during a stroke.
There are encouraging early signs the angel advocate approach is helping people find organ donors.
Children with critical illnesses and their families can visit the Wishing Place in Bala Cynwyd to start their wish journeys.
Here are mall opening and closing hours for the Christmas and Christmas Eve holidays around the Philly region.
Through Amazon Now, customers can get household items, cosmetics, electronics, groceries and more delivered in about 30 minutes or less.
San Francisco officials said Tuesday that the city has filed a lawsuit against leading manufacturers of ultra-processed foods, accusing them of producing products linked to serious health issues and alleging that the companies knowingly made the foods addictive.
Amazon's Northeast Philadelphia facility expects to see about 10,000 more packages per day during the holiday peak.
The U.S. Department of Energy says it's loaning $1 billion to help finance the restart of the nuclear power plant on Pennsylvania's Three Mile Island.
The holiday travel rush is ramping up on the roads and in the skies around the Philadelphia region.
The Pennsylvania Turnpike's eastbound lanes have reopened following a multi-vehicle crash between Bensalem and Willow Grove.
SEPTA's largest workers' union voted to ratify its new contract with the Philadelphia-based transit agency Wednesday night.
SEPTA offered a glimpse inside the Center City trolley tunnel as crews work to fix problems that have shut down service for weeks.
NJDOT is raising awareness about speeding, drunk driving and distracted driving while using humor and some holiday puns.
Travis Konecny scored and added his 300th career assist, leading the Philadelphia Flyers past the Blackhawks 3-1 and handing depleted Chicago its sixth straight loss.
Michael Porter Jr. scored 28 points, as the Brooklyn Nets beat the Philadelphia 76ers 114-106.
Zack Baun, Jalen Carter, Cooper DeJean, Cam Jurgens and Quinyon Mitchell are the five Philadelphia players named to the initial 2026 Pro Bowl roster.
Nikita Grebenkin had a goal and an assist, Carl Grundstrom also scored, and the Philadelphia Flyers beat the Vancouver Canucks 5-2.
The Philadelphia Eagles became the first repeat NFC East champion in 20 years with their 29-18 win over Washington.
Feeding America's CEO said the organization is "incredibly grateful" for Taylor Swift's large donation.
The singer said an MRI showed a cancerous spot on one of his lungs after he recovered from a lengthy bout of bronchitis.
Albert Brooks said he's still in shock over the death of his friend Rob Reiner, whom he met at 14 years old.
The Oscars ceremony is moving to YouTube starting in 2029, the Academy of Motion Picture Arts and Sciences announced on Wednesday.
Sylvester Stallone reflects on his iconic roles as Rocky Balboa and John Rambo, his rough upbringing, and the legacy he hopes to leave in a touching "CBS Mornings" interview.
Ukee Washington reports.
Natasha Brown reports.
Natasha Brown reports.
Natasha Brown reports.
Ukee Washington reports.
Middle school students in Philadelphia got the opportunity to do hands-on learning during the school district's five-day career and technical camp.
With her Girl Talk mentoring program, one Philadelphia teen turned her camp days into a safe space to discuss social issues young girls face every day.
Recent high school graduate Sylvain Farrell says his temporary position at a local clinic is the pathway to a full-time career.
A Philadelphia student won an award from NFL Films for his documentary on bringing back sports teams at his Kensington school.
A group of East Norriton eighth graders took what started as an Earth Day project and made a whole initiative.
One of the women killed in the nursing home explosion in Bristol, Pennsylvania, on Tuesday was Muthoni Nduthu, who was a nurse, mother and grandmother who immigrated from Kenya.
The Philadelphia region can expect a quiet Christmas Day when it comes to weather this year, but the NEXT Weather team is tracking a dangerous winter storm arriving Friday night. Meteorologist Tammie Souza has the forecast.
Families packed the Cathedral Basilica of Saints Peter and Paul in Philadelphia Wednesday night for Christmas Eve Mass. Reporter Eva Andersen talked to worshippers about what the holiday means to them.
It's official! Former CBS News Philadelphia anchor Jim Donovan received a certificate from Guinness for the world's largest sock collection.
The Wissahickon school board in Montgomery County, Pennsylvania, voted unanimously to terminate Lower Gwynedd Elementary School Principal Philip Leddy, who admitted that he made antisemitic comments while leaving a voicemail for a parent.