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.
A wild turkey visited the Glez Hazel bald eagle nest in Pittsburgh.
More than $300,000 worth of counterfeit designer bags and jewelry were seized in Pittsburgh, U.S. Customs and Border Protection announced on Tuesday.
With the deep fryers warming up for the start of Lenten fish fries on Wednesday, you've likely noticed the price you're paying has gone up over the last few years.
It's no secret that many boroughs in the Mon Valley are riddled with abandoned and decaying homes.
People living on Methyl Street in Pittsburgh's Beechview neighborhood said drivers have hit their cars multiple times in recent years.
A wild turkey visited the Glez Hazel bald eagle nest in Pittsburgh.
More than $300,000 worth of counterfeit designer bags and jewelry were seized in Pittsburgh, U.S. Customs and Border Protection announced on Tuesday.
With the deep fryers warming up for the start of Lenten fish fries on Wednesday, you've likely noticed the price you're paying has gone up over the last few years.
The annual KDKA Fish Fry Guide is back for Lent! Check our listings for a 2026 fish fry near you in Pittsburgh.
It's no secret that many boroughs in the Mon Valley are riddled with abandoned and decaying homes.
"The Late Show" host Stephen Colbert criticized CBS on Monday night, saying the network blocked his interview with U.S. Senate hopeful James Talarico from airing.
The Rev. Jesse Jackson marched alongside Martin Luther King Jr., ran for president in the 1980s and led the Rainbow/PUSH Coalition in Chicago for decades.
Last week, the Pentagon said it may block military members from using tuition aid at many top universities across the country, including Carnegie Mellon University in Pittsburgh. Chris Hoffman reports.
After setting social media abuzz by saying aliens were real, former President Barack Obama said he didn't see evidence that aliens "have made contact with us."
President Trump met with Israeli Prime Minister Benjamin Netanyahu in December at Mar-a-Lago with Mr. Trump saying the U.S. would support strikes if no deal was made with Iran.
With the deep fryers warming up for the start of Lenten fish fries on Wednesday, you've likely noticed the price you're paying has gone up over the last few years.
When debt collection companies start calling, most people don't know what to do.
Move over, Wawa, "there's a new player in town." Customers shed light on Pennsylvania's heated rivalry as Sheetz opened its first store in Montgomery County.
The rush for roses is on with Valentine's Day this weekend, and making sure you're getting the best deal is crucial.
More than 30 states have already enacted similar legislation.
This month’s UPMC Community Hero is Lauren Rowe. An educator and counselor in the West Mifflin Area School District, she is giving back to the school that raised her, making sure the next generation is full on the inside and out.
Chef Crystal Baldwin makes an easy recipe for shrimp fritters and highlights some Black-owned vendors, with products available at Giant Eagle!
Dr. Lori appraises more of your antiques. Today’s theme is: kitchen kitsch!
Daisy Jade is live at Kretchmar’s Bakery in Beaver to get the party started!
David is back! He and Heather are celebrating with new milkshake flavors!
It's no secret that many boroughs in the Mon Valley are riddled with abandoned and decaying homes.
The Beaver Valley could become the center of artificial intelligence infrastructure for the region.
The county has a new tool for tackling blighted homes across Allegheny County.
The Pennsylvania State Police's fire marshal unit in Greensburg is offering a reward for information that leads to an arrest in connection with a suspicious fire in August.
When debt collection companies start calling, most people don't know what to do.
With a measles outbreak in Pennsylvania, local health experts want to send a message to families.
Cracking down on the price of prescription drugs is a hefty task.
The advisory, issued on Saturday, affected thousands of customers in Allegheny and Washington counties.
Pennsylvania American Water said that a first round of testing came back negative and an update can be expected late Monday morning.
Doctors said the drugs can help people lose unwanted pounds while retaining muscle.
Cleveland Browns safety Ronnie Hickman was assaulted inside a New York City hotel on Monday morning, officials said.
Western Pennsylvania has historically been a hotbed for producing talent that succeeds in the NFL.
A girls' basketball game at the Eastern Schools for the Deaf Athletic Association tournament became a lesson in sportsmanship on Friday.
Crosby's 15 points at the Olympics put him in the all-time lead among Canadian NHL players.
The chief of the U.S. Ski Team says Lindsey Vonn is preparing to return to the United States a week after crashing in the Olympic downhill.
Move over, Wawa, "there's a new player in town." Customers shed light on Pennsylvania's heated rivalry as Sheetz opened its first store in Montgomery County.
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.
"The Late Show" host Stephen Colbert criticized CBS on Monday night, saying the network blocked his interview with U.S. Senate hopeful James Talarico from airing.
Bruce Springsteen and The E Street Band will return to Pittsburgh this spring.
Robert Duvall was in such classics as "The Godfather," "To Kill a Mockingbird," "M*A*S*H," "The Great Santini" and "Tender Mercies."
More extras are needed for "Mayor of Kingstown" when the show films its fifth and final season in Pittsburgh.
"Dawson's Creek" and "Varsity Blues" star James Van Der Beek has died at 48 years old.
With the deep fryers warming up for the start of Lenten fish fries tomorrow, you've likely noticed the price you're paying has gone up over the last few years. Barry Pintar reports.
It's no secret that many boroughs in the Mon Valley are riddled with abandoned and decaying homes. Some are too far gone to be restored by even the most motivated house-flipper. Demolishing these blighted buildings can involve hiring outside companies to do the work for a lot of cash. So instead local and federal lawmakers found a way to keep that money inside the area by capitalizing on the blight to create jobs.
People living on Methyl Street in Pittsburgh's Beechview neighborhood said drivers have hit their cars multiple times in recent years.
The Beaver Valley could become the center of artificial intelligence infrastructure for the region.
Jesse Jackson is being remembered by many in the local civil rights movement, including Tim Stevens, who founded the Black Political Empowerment Project in Pittsburgh. Ross Guidotti reports.
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.
