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.
The Federal Reserve is grappling with economic issues including higher inflation and a slowing labor market.
The Federal Reserve said it is cutting rates by 0.25 percentage points, its second rate cut of the year.
The Federal Reserve announced its second interest rate cut of 2024, but Trump's economic priorities could impact future policy.
Donald Trump's victory in the 2024 presidential election is likely to have a major impact on the economy. Here's what to know.
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.
The Fed is leaving its benchmark interest rate unchanged, noting a lack of progress in curbing inflation.
In its last rate decision of 2023, the central bank said it is holding its benchmark rate steady amid cooling inflation.
As Americans collected government aid and saved, new numbers show household wealth surged during the pandemic.
As Americans collected government aid and saved, new numbers show household wealth surged during the pandemic.
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
Central bank officials will announce on Wednesday if they are hiking the federal funds rate for a 10th consecutive time.
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.
House prices just ended a 10-year streak, marking the first monthly year-over-year price drop since 2012.
A new economic report could pressure the Federal Reserve to raise interest rates again.
The U.S. Census Bureau said retail sales surged 3% in January. That surpasses the 1.8% economists had estimated, and it follows a slight decline in December.
While the central bank is slowing its rate increases, Jerome Powell told investors not to expect lower rates this year.
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.
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.
The Federal Reserve boosted interest rates again in a move to slow the inflation rate.
If we are headed for a recession, here's what you need to know to protect your pocketbook.
If we are in fact headed for a recession, what are some things you can do to make sure you "recession-proof" yourself? KDKA's John Shumway has some advice.
Actor Michael Keaton was roasted before receiving the 2026 Man of the Year by Harvard University's Hasty Pudding Theatricals.
The teen driver who was killed in a crash in Juniata County, Pennsylvania, while on a FaceTime call with a friend was identified as Charles Raffensberger III.
Junior Achievement of Western Pennsylvania has honored outstanding young people in the area through its "18 Under Eighteen" program.
An 18-year-old young man from Pittsburgh was killed and nine others were injured after a massive pileup on Interstate 79.
The Blairsville Underground Railroad Museum shares the stories of slavery, the Civil War, Reconstruction and beyond
Actor Michael Keaton was roasted before receiving the 2026 Man of the Year by Harvard University's Hasty Pudding Theatricals.
The teen driver who was killed in a crash in Juniata County, Pennsylvania, while on a FaceTime call with a friend was identified as Charles Raffensberger III.
Junior Achievement of Western Pennsylvania has honored outstanding young people in the area through its "18 Under Eighteen" program.
An 18-year-old young man from Pittsburgh was killed and nine others were injured after a massive pileup on Interstate 79.
The Blairsville Underground Railroad Museum shares the stories of slavery, the Civil War, Reconstruction and beyond
The footage is included in a video that promotes false claims that the 2020 presidential election was rigged against Mr. Trump.
The bipartisan "Bell-to-Bell" bill bars students from using their phones any time they're in school, not just during instructional periods.
It was only a few months ago that Pennsylvania passed the 2025 budget several months late, and now the process begins for this year.
Pennsylvania Gov. Shapiro delivered his fourth budget address at the State Capitol in Harrisburg, three months after last year's budget was passed by state lawmakers.
A federal judge on Monday blocked the Trump administration from revoking Temporary Protected Status for Haitians, granting a last-minute reprieve to 350,000 immigrants who were set to lose protections on Tuesday.
A woman and her husband are fighting for a $400 refund after they bought furniture from a Value City Furniture store.
It's the end of an era for a grocery store in Carrick.
A Pennsylvania couple says Kia wrongly denied a warranty claim after their car's engine failed at 80,000 miles.
Scams targeting utility customers are on the rise in Pennsylvania, the attorney general says.
A handful of Pittsburgh-area Value City Furniture stores are going out of business after their parent company filed for bankruptcy.
Daisy takes us live to learn more about 100.7 Star's Best Pizza in Pittsburgh competition.
We’re hearing from some of you! How did you meet? What is your love story?
Daisy shows us how to see our closet in a different way.
Some local pups will be in the game this year, and we’re meeting one from Animal Friends!
The band has a Pittsburgh connection, and we’re getting a performance live in the studio!
Residents of Millvale are trying to get back to normal after last weekend's major snowstorm.
Tracing the past of Shane Hennen and how his troubled life in Pittsburgh pointed to his future downfall.
People in Avella, Washington County, say they have no phone coverage.
Residents and leaders in Charleroi are concerned about the integrity of roads after a trench collapse last year and ongoing construction.
Patrick Vereb is accused of taking money from pet owners who believed their animals would receive dignified cremations.
Doctors said the drugs can help people lose unwanted pounds while retaining muscle.
Southwestern Pennsylvania's cold and snowy winter is taking its toll on more than just our roadways and walkways.
The Liberty-Clairton area is under a code orange air quality action day, according to the Pa. Dept. of Environmental Protection.
The cold weather and lingering snow affect more than just the roads and our cars, it affects our brains.
After the historic snowfall, dangerously low temperatures crept into the Pittsburgh region, bringing a hidden danger that can turn painful in seconds.
Prosecutors have dropped the most serious assault charge against Penn State hockey star Gavin McKenna.
Western Pennsylvania has historically been a hotbed for producing talent that succeeds in the NFL.
A person familiar with the negotiations tells The Associated Press that pitcher José Urquidy and the Pittsburgh Pirates have agreed to a $1.5 million, one-year contract.
Wide receiver Larry Fitzgerald headlines the five-player 2026 Pro Football Hall of Fame class.
The Pittsburgh Penguins beat the Buffalo Sabres 5-2 on Thursday night in the final game for both teams before the Olympic break.
More than 140 employees at Nemacolin were informed they were being let go.
It's been about six years since the pandemic, and a lot of people working from home, but now companies are slowly calling them back to the office.
Pittsburgh Mayor Corey O'Connor on Tuesday announced a new initiative aimed at revitalizing neighborhood business districts across the city.
A handful of Pittsburgh-area Value City Furniture stores are going out of business after their parent company filed for bankruptcy.
It has been five years since the home improvement retailer Menards bought a large parcel of land off Route 30 in Westmoreland County.
Filming for the final season of "Mayor of Kingstown" is expected to take place between March and June.
Many Super Bowl 60 ads are already online, along with teasers for commercials that will be unveiled during the NFL championship on Feb. 8.
"Stick Season" singer Noah Kahan is coming to Pittsburgh this summer.
Music's biggest night returned Sunday with the 68th annual Grammy Awards. Here is how to watch and stream and what to know.
Catherine O'Hara was best known for her comic performances in projects including "Home Alone," "Beetlejuice," and "Schitt's Creek."
KDKA-TV Sports' Cassidy Wood and the Post-Gazette's Jason Mackey discuss the sports topics of the day.
Chuck Dorgan was one of the 20-plus vehicles involved in the crash. He said the scariest moment wasn't when he crashed his truck. It was what happened after.
Stay on top of local weather with First Alert Meteorologist Trey Fulbright's forecast!
For five years, Junior Achievement of Western Pennsylvania has honored outstanding young people in our area through its "18 Under 18" program.
The Blairsville Area Underground Railroad is an important mark in American history.
Mike Tomlin stepped down as head coach of the Pittsburgh Steelers after 19 seasons with the team.
Pitt's regular season has ended with an 8-4 record.
Pitt's five-game winning streak came to an end with a 37-15 loss to Notre Dame.
Mason Heintschel set a new Pitt freshman single-game passing record in the Pitt win at Acrisure Stadium.
The 44th annual KDKA-TV Turkey Fund will help our neighbors in need have a nice meal for Thanksgiving.
