Here's what the Fed's interest rate pause means for your money
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
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After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
The U.S. averted disaster by raising the debt ceiling, but a mild recession is still possible even as job numbers remain hot, according to the head of Bank of America. Mark Strassmann breaks down how the U.S. economy is doing.
President Biden Saturday signed a bipartisan bill that will suspend the nation's debt ceiling and avoid what could have been a catastrophic government default. Christina Ruffini has more.
President Biden will likely sign the debt limit bill later today after the House and Senate approved it this week. It's a win for the president as the 2024 campaign season gets underway in earnest. CBS News Correspondent Wendy Gillette reports from New York.
President Biden delivered remarks from the Oval Office Friday night after Congress passed bipartisan legislation to suspend the U.S. debt limit until 2025. Watch his address in this CBS News Special Report, with analysis from Margaret Brennan and Nancy Cordes.
The president spoke less than 24 hours after the Senate approved the agreement in a bipartisan vote.
The U.S. Senate is now taking up the compromise bill to raise the debt ceiling and avoid a catastrophic default. The House overwhelmingly passed the measure on Wednesday, but there are some grumblings in the Senate. Natalie Brand reports.
Skyler Henry reports on members of the House of Representatives debating the White House debt ceiling deal (5-31-2023)
House Freedom Caucus members are unhappy with the debt ceiling deal between House Speaker Kevin McCarthy and President Biden.
Natalie Brand reports on members of the House of Representatives preparing to vote on the White House debt ceiling deal (5-31-2023)
A majority of Democrats and a majority of Republicans voted in favor of the Fiscal Responsibility Act.
Scott McFarland reports on criticism leveled from both sides of the aisle against debt limit bill (5-29-2023)
President Biden and House Speaker McCarthy both expressed optimism that they would be able to get their respective parties on board for the debt ceiling plan they negotiated. Natalie Brand has the latest.
The debt ceiling deal has cleared both chambers of Congress and is headed to the president's desk.
The House Democratic leader said he can guarantee the U.S. will not default on its debt.
Bradley Blackburn reports on agreement reached to raise debt limit just days ahead of default (5-28-2023)
After days of intense negotiations and weeks of talks, an agreement in principle has been reached to raise the debt ceiling.
The massive storms that soaked California at the beginning of this year allowed many in the state to automatically be granted a tax extension. But that’s causing problems for the U.S. balance sheet as it approaches the deadline to raise the debt ceiling. Julie Weil, a tax reporter for the Washington Post, has more.
Republican lawmakers want the government to slash federal spending, which ballooned during the pandemic.
President Joe Biden wrapped up a meeting with House Speaker Kevin McCarthy to discuss raising the debt ceiling as the U.S. government will soon run out of money to pay its bills -- and possibly dive into a recession if no deal is reached. Nicole Sganga reports.
Negotiations over the debt ceiling ended on Capitol Hill as President Joe Biden and House Speaker Kevin Mccarthy prepare for face-to-face talks Monday afternoon.
Following several meetings Friday, White House negotiators and Republican congressional leaders left the Capitol without an agreement on solving the nation's debt ceiling crisis. President Biden is expected to cut short his Asia-Pacific trip to return to Washington to address the issue. Christina Ruffini has the latest.
Without a deal, Treasury Secretary Janet Yellen has said the U.S. could be unable to pay its bills and might default on its debt as soon as June 1.
Skyler Henry reports on the stalemate in the negotiations to raise the debt ceiling and avoid the first federal default in United States history.
The treasury secretary moved up her estimate of when the U.S. risks defaulting on its debt.
It was a pretty busy Saturday night in downtown Napa, almost as if you'd never know the atmospheric river passed through just the day before.
Residents and small business owners feel fortunate there weren't massive problems as an atmospheric river rolled through the town of San Anselmo.
Victor Wembanyama scored 25 points, Harrison Barnes had 22 and the San Antonio Spurs overcame a 17-point third quarter deficit to beat the Golden State Warriors 104-94.
The turkeys and other food collected go to the San Francisco-Marin Food Bank and then out to community organizations.
Joe Thornton spent a career setting up his teammates with the perfect passes that helped them score goals.
It was a pretty busy Saturday night in downtown Napa, almost as if you'd never know the atmospheric river passed through just the day before.
Residents and small business owners feel fortunate there weren't massive problems as an atmospheric river rolled through the town of San Anselmo.
Victor Wembanyama scored 25 points, Harrison Barnes had 22 and the San Antonio Spurs overcame a 17-point third quarter deficit to beat the Golden State Warriors 104-94.
The turkeys and other food collected go to the San Francisco-Marin Food Bank and then out to community organizations.
Joe Thornton spent a career setting up his teammates with the perfect passes that helped them score goals.
The turkeys and other food collected go to the San Francisco-Marin Food Bank and then out to community organizations.
A sinkhole opened up on Highway 101 in San Francisco Saturday morning, Caltrans said.
Some San Francisco roadways and neighborhoods experienced minor flooding Friday as the atmospheric river dumped heavy rain on the city.
Flash flood warnings were issued Friday afternoon for several Bay Area counties where instances of flooding deemed "life-threatening" were occurring.
Prosecutors rested their case Thursday in the trial of Nima Momeni, the tech consultant accused of fatally stabbing Cash App founder Bob Lee in April 2023.
The Bay Area is getting a break after the heavy rainfall on Friday, but the amount of rain that fell means some areas remain at risk of minor flooding.
From downed trees to power outages to flooded streets, Friday's storm caused big problems for many East Bay residents.
A 10-year-old girl from Antioch is being credited for thwarting an attempted carjacking of her mother's vehicle by fighting off a would-be thief on Wednesday, police said.
BART's San Leandro station was closed Friday afternoon because of police activity, the agency said.
A California child was confirmed to be the first U.S. child to become infected with bird flu, the U.S. Centers for Disease Control and Prevention announced Friday.
The manager of a boxing gym in San Jose has been arrested on felony sexual assault charges after he allegedly committed sex crimes against three women, prosecutors said.
In Pacifica, like other spots along the coast, the potentially dangerous surf conditions are more of an issue than the rain.
Police in the South Bay have made an arrest after a man was found fatally shot in Morgan Hill on Wednesday morning.
Eataly, the gourmet Italian marketplace blending restaurants, cafes, and specialty products, offers an immersive experience designed to transport visitors straight to Italy.
A Mountain View barber accused in multiple sexual assaults in which the victims were unconscious has fled from prosecution and is now a fugitive, authorities said Wednesday.
It was a pretty busy Saturday night in downtown Napa, almost as if you'd never know the atmospheric river passed through just the day before.
Residents and small business owners feel fortunate there weren't massive problems as an atmospheric river rolled through the town of San Anselmo.
A man's death is under investigation in Santa Rosa after he was found dead in a creek Saturday morning after an atmospheric river dumped rain, authorities said.
A man died when he was found in a flooded vehicle after an atmospheric river dumped heavy rain in Northern California, authorities said.
The Bay Area is getting a break after the heavy rainfall on Friday, but the amount of rain that fell means some areas remain at risk of minor flooding.
Victor Wembanyama scored 25 points, Harrison Barnes had 22 and the San Antonio Spurs overcame a 17-point third quarter deficit to beat the Golden State Warriors 104-94.
Joe Thornton spent a career setting up his teammates with the perfect passes that helped them score goals.
Fernando Mendoza threw for 299 yards and three touchdowns, Jonathan Brady had two touchdown catches and the go-ahead score and California rallied to beat Stanford 24-21 in the first Big Game as members of the Atlantic Coast Conference.
San Francisco 49ers quarterback Brock Purdy will miss Sunday's game against the Green Bay Packers with a sore throwing shoulder.
A trailblazing coach for the San Francisco Giants is leaving the team for another MLB gig.
A 10-year-old girl from Antioch is being credited for thwarting an attempted carjacking of her mother's vehicle by fighting off a would-be thief on Wednesday, police said.
BART's San Leandro station was closed Friday afternoon because of police activity, the agency said.
The manager of a boxing gym in San Jose has been arrested on felony sexual assault charges after he allegedly committed sex crimes against three women, prosecutors said.
Prosecutors rested their case Thursday in the trial of Nima Momeni, the tech consultant accused of fatally stabbing Cash App founder Bob Lee in April 2023.
A 48-year-old man was found guilty of carjacking an Uber driver in San Francisco in January, according to prosecutors.
Prosecutors rested their case Thursday in the trial of Nima Momeni, the tech consultant accused of fatally stabbing Cash App founder Bob Lee in April 2023.
The proposed breakup calls for Google to sell its industry-leading Chrome web browser and impose restrictions designed to prevent its Android smartphone software from favoring its search engine.
Reddit says it's investigating after users on Wednesday reported problems connecting to the online forum.
A study found that Elon Musk is the most common celebrity used in deepfake scams.
Autonomous vehicle company Cruise LLC agreed to a $500,000 fine Thursday after admitting to a false report following a crash last year in which one of its vehicles dragged a pedestrian in San Francisco.
A California child was confirmed to be the first U.S. child to become infected with bird flu, the U.S. Centers for Disease Control and Prevention announced Friday.
Whole Foods Market stores in five states sold recalled carrots and celery sticks that could contain E. coli.
The FDA sent a warning letter flagging "significant violations" of manufacturing regulations for Tom's of Maine toothpaste.
Officials with the California Department of Public Health (CDPH) said they have identified a possible bird flu case in a child in Alameda County.
The first case in the U.S. of a more severe strain of mpox was reported in San Mateo County, the California Department of Public Health said.
Scott Bessent, the founder of the Connecticut-based hedge fund Key Square Group, had been making a full-court press for the post.
Trump's sentencing in the "hush money" case has been delayed by a New York judge.
The Supreme Court issued its first opinion of the term, a one-line decision dismissing Facebook's appeal.
California Gov. Gavin Newsom traveled into a part of the state that supports President-elect Donald Trump Thursday, speaking about jobs in a county that flipped from Democrat to Republican support this election cycle.
President-elect Donald Trump made the announcement Thursday evening after Matt Gaetz withdrew himself from consideration.
In many Indigenous cultures across the Americas, gender is recognized as fluid, contrasting sharply with Western norms. Jose Martinez reports.
In many Indigenous cultures across the Americas, gender is recognized as fluid, contrasting sharply with Western norms.
As San Jose State University women's volleyball team gears up for their final games of the regular season, a new lawsuit is challenging their post-season eligibility.
Festivities began Friday for Dia de los Muertos -- or Day of the Dead, with those who celebrate preparing altars to honor family members who have passed.
A jury in Santa Clara County on Wednesday convicted a Milpitas man of murder for killing his transgender partner in 2021, prosecutors said.
Alice Brock, whose Massachusetts-based eatery helped inspire Arlo Guthrie's deadpan Thanksgiving standard, "Alice's Restaurant," has died at age 83.
The 18th edition of the Sleepless Nights benefit concert paying tribute to country-rock pioneer Gram Parsons brings an array of artists to the Chapel in San Francisco Friday night.
CBS News' Anthony Mason joins Paul Simon on a trip to the Stanford Initiative to Cure Hearing Loss, to explore how researchers are getting closer to finding answers about repairing and preventing hearing loss.
One of the seminal modern jazz-funk bands to emerge during the early '90s "rare groove" revival, fiery quintet the Greyboy Allstars bring their potent grooves to the Bay Area for three shows starting Thursday.
San Francisco welcomes the return of the Sun Ra Arkestra, presenting the interstellar sounds of the late bandleader's sprawling Afrofuturist ensemble for three nights at the Great American Music Hall starting Friday.
Ever since the COVID-19 pandemic, the Oakland Unified School District has seen an alarming spike in the number of unhoused students in the school system who deal with a host of challenges far beyond what most children face.
Meteorologist and CBS News Bay Area's resident pilot Lt. Jessica Burch got a treat during Fleet Week, taking to the skies with one of the Blue Angels.
A Bay Area man discovered his devastating loss left him with a new opportunity to rethink how he lives -- follow his journey in virtual reality, 360-degree video.
A groundbreaking medical study involving the UCSF Medical Center has shown some colorectal cancer patients can safely skip radiation treatment and enjoy a potentially higher quality of life.
Every day, San Francisco bar pilot Captain Zach Kellerman goes through what might just be the world's most dangerous commute.
It was a pretty busy Saturday night in downtown Napa, almost as if you'd never know the atmospheric river passed through just the day before.
The positivity in the St. Emydius Church parking lot in San Francisco was contagious on a soggy Saturday morning.
Here's the latest headlines.
A man died when he was found in a flooded vehicle after an atmospheric river dumped heavy rain in Northern California, authorities said.
Here's a look at the weather forecast Saturday evening.
This week's Jefferson Award winner is Army veteran who continues to live a life of service into his 80s, by feeding hundreds of San Francisco families a week.
An Oakland woman has brought the joy of dance and an appreciation for African American culture to performers and audiences for 52 years.
This week's Jefferson Award winner is a Berkeley woman who has promoted child literacy for four decades, as host of a community TV show encouraging young poets.
With hate crimes on the rise in the U.S., a pair of Oakland women have been equipping people with self-defense tools for free.
If a picture is worth a thousand words, what are two million photos worth? A history of Asian Americans in the Bay Area, for this week's Jefferson Award winner.
A Bay Area man who overcame tremendous obstacles to excel in school has made it his mission to gear up other students for success in the classroom and in life.
For Students Rising Above scholar Josh Collins it took moving across the country to realize the value of his Bay Area family.
Samir Hooker had to grow up fast after his stepfather was shot dead 12 years ago. Now he is watching over his mom and sister while attending UC Berkeley.
It's hard enough to graduate from one of the most prestigious schools in the country when you're the first in your family to go to college. Imagine doing that while you're also trying to protect your parents from being deported?
Some students who are the first in their families to go to college face the challenge of balancing a rigorous academic load while still working to help support their family back home.