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The Federal Reserve on Wednesday held its benchmark interest rate steady for a second consecutive time while upgrading its view of the U.S. economy and leaving open the possibility of additional rate hikes should inflation quicken in coming months. David Wessel, director of the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution, joined CBS News to discuss the reasoning behind the decision.
The Federal Reserve on Wednesday left interest rates steady for a second consecutive time. CBS News senior business and technology correspondent Jo Ling Kent explains what that means for Americans.
The latest decision by the Federal Reserve to hold off on increasing interest rates any further may signal that the U.S. economy is moving in the right direction. CBS News business analyst Jill Schlesinger and J.D. Durkin, a host for the financial news site "TheStreet," join CBS News to discuss the decision.
Federal Reserve Chairman Jerome Powell will issue the central bank's latest decision on interest rates Wednesday after pausing rate hikes in September. Greg Robb, a senior reporter and economics editor for MarketWatch, joined CBS News to discuss how the Fed will make its decision.
Many U.S. households saw their wealth jump during the pandemic, new data shows. Here's how much the typical family is worth.
Oil prices rose 5% Friday amid the war between Israel and Hamas. J.D. Durkin, host of "The Street," joins CBS News to discuss what the spike means for U.S. investors.
Businesses are still hiring at a high rate as consumer spending remains robust. Colby Smith, a U.S. economics editor for the Financial Times, joins CBS News with some of the indicators of where the economy is headed next.
Jobs in the United States rose higher than experts predicted, according to new August data released Tuesday. Carleton English, a reporter at Barron's, joins CBS News ahead of new unemployment data expected on Friday.
Wall Street index futures kicked off October on a high note after lawmakers averted a government shutdown. Investors will wait to hear from Federal Reserve Chair Jerome Powell on Monday for more on the central bank's interest-rate path. CBS News contributor Javier David, managing editor for business and markets at Axios, has more.
The average interest rate on a credit card in November 2021 was 16.4%. As of September, the average credit card interest rate is nearly 24.5%. Javier David, managing editor at Axios, joined CBS News to discuss other ways rising interest rates are putting pressure on Americans.
A vintage banknote and an even older coin collectively sold for nearly $1 million at a multi-day bidding event in Dallas.
Existing home sales fell almost 1% in August and were down about 15% over the past year, according to new data from the National Association of Realtors. Aarthi Swaminathan, personal finance reporter for MarketWatch, joined CBS News to discuss the numbers.
The Bank of England followed the U.S. Federal Reserve's lead Thursday, leaving interest rates unchanged for the first time in nearly two years, but the U.K.'s rate remains at a 15-year high of 5.25%. Martin Baccardax, senior editor and chief markets correspondent for financial news website TheStreet, joins CBS News to talk about the pause in rate hikes.
With mortgage rates hovering above 7% for five straight weeks, prospective buyers are facing a housing shortage as would-be sellers seek to keep their low, locked-in rates. Nancy Chen has details.
The Federal Reserve opted not to raise interest rates Wednesday, despite the recent uptick in the inflation rate. CBS News business analyst Jill Schlesinger and CBS News senior White House and political correspondent Ed O'Keefe join Lilia Luciano and Lana Zak to discuss the central bank's decision.
The Federal Reserve left interest rates unchanged in its September meeting in spite of inflation accelerating in August and remaining above the central bank's target rate. CBS News business analyst Jill Schlesinger and CBS News senior White House and political correspondent Ed O'Keefe have the latest.
The central bank is leaving interest rates unchanged after 11 hikes since March 2022, which has boosted borrowing costs for millions of Americans.
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.
The Federal Reserve is expected to announce its decision on another possible interest rate hike Wednesday afternoon. Jeanna Smialek, a Federal Reserve and economics reporter for The New York Times, joined CBS News to discuss the chances of a rate increase.
The Consumer Price Index rose six-tenths of a percentage point in August, largely driven by a spike in gas prices. CBS News contributor Javier David has more on what the number could mean for interest rates.
Saudi Arabia and Russia have agreed to extend their voluntary oil production cuts through the end of 2023 -- a move that's already driving prices up. Carolyn Kissane, associate dean at New York University's Center for Global Affairs, joins CBS News to discuss how higher oil prices could also impact interest rates in the U.S.
Unemployment jumped from 3.5% to 3.8% this month, a sign that the job market is cooling. The market also added 187,000 jobs. The Biden administration said this showed more people joining the workforce. Meanwhile, the Federal Reserve is considering another interest hike amid soaring inflation. Christina Ruffini reports.
Overheated labor market of the past two years may be over, raising questions about Fed's next move, experts say.
Interest rates for a home loan are continuing to soar, driving many aspiring property owners out of the market.
U.S. credit card debt surpassed $1 trillion this week, according to new data from the Federal Reserve Bank of New York. Michelle Lambright Black, the founder of creditwriter.com, explained the factors contributing to the increase in credit card debt among Americans and provided tips on how to pay down the balances.
Experts say evidence in the Azerbaijan Airlines plane crash in Kazakhstan points to a possible midair explosion, not an encounter with a flock of birds.
NASA's Parker Solar Probe hurtled through the sizzling solar atmosphere and passed within a record-breaking 3.8 million miles of the sun's surface.
Marc Fogel, a Pennsylvania man imprisoned in Russia, has been designated as "wrongfully detained," according to the U.S. Department of State.
Japanese death-row inmate Chisako Kakehi, dubbed the "Black Widow" after she used cyanide to kill her elderly lovers, has died in a detention center at age 78, officials say,
A grand jury has indicted the man accused of setting a woman on fire aboard a Brooklyn subway train, Brooklyn DA Eric Gonzalez announced Friday.
South Korea's opposition-controlled National Assembly voted to impeach acting President Han Duck-soo, further deepening the country's political crisis.
Federal officials say homelessness rose 18% in 2024, driven mostly by a lack of affordable housing.
A plane passenger taken into custody after boarding a Delta flight from Seattle to Hawaii without a boarding pass.
Italy's Foreign Ministry says it's trying to "clarify the legal situation of Cecilia Sala" more than a week after she was detained while reporting in Iran.
Federal officials say homelessness rose 18% in 2024, driven mostly by a lack of affordable housing.
The proposed rule is required under a law passed by Congress last year, and is intended to ensure the safety of makeup and baby powder.
The unidentified pair of brothers and their father were snowmobiling on Christmas Eve when the avalanche swept through.
NASA's Parker Solar Probe hurtled through the sizzling solar atmosphere and passed within a record-breaking 3.8 million miles of the sun's surface.
Richard Parsons was known as a skilled negotiator, a diplomat and a crisis manager.
Federal officials say homelessness rose 18% in 2024, driven mostly by a lack of affordable housing.
The proposed rule is required under a law passed by Congress last year, and is intended to ensure the safety of makeup and baby powder.
The National Retail Federation expects about 17% of sales to be returned this year.
Fungal contamination of an eye product is known to potentially cause eye infections, which may be vision- or life-threatening, according to the FDA.
Osamu Suzuki, the charismatic former boss of Japanese mini-vehicle maker Suzuki Motor Corp., has died.
Marc Fogel, a Pennsylvania man imprisoned in Russia, has been designated as "wrongfully detained," according to the U.S. Department of State.
Cabrera is county commissioner of District 6, which represents parts of Coral Gables, Hialeah and the City of Miami.
President Biden's final holiday in office will take place largely out of the public eye.
Here's what to know about the United States' involvement with building and operating the Panama Canal.
Marianne Williamson sought the Democratic presidential nomination in 2020 and 2024.
The proposed rule is required under a law passed by Congress last year, and is intended to ensure the safety of makeup and baby powder.
Fungal contamination of an eye product is known to potentially cause eye infections, which may be vision- or life-threatening, according to the FDA.
Busy lives have many of us juggling multiple tasks at once, but is that really multitasking? Here's what expert Linda Stone has learned about the myth of multitasking.
A growing number of young people are receiving prescriptions for GLP-1 weight loss medications like Ozempic and Wegovy. Janet Shamlian examines why.
A voluntary recall was issued for a line of raw and frozen pet food after a cat died of bird flu.
Marc Fogel, a Pennsylvania man imprisoned in Russia, has been designated as "wrongfully detained," according to the U.S. Department of State.
Italy's Foreign Ministry says it's trying to "clarify the legal situation of Cecilia Sala" more than a week after she was detained while reporting in Iran.
Osamu Suzuki, the charismatic former boss of Japanese mini-vehicle maker Suzuki Motor Corp., has died.
Researchers say human-caused climate change dealt people an average of nearly six weeks of extra extreme heat in 2024, while also fueling more destructive storms.
Authorities have found 12 skeletons buried in clandestine graves in Mexico's northern Chihuahua state near the U.S. border, officials say.
Cheyenne Grace, a rising star from North Texas who is a high school student, is topping the iTunes charts with her debut holiday album, "Home for Christmas."
Baltimore's victory over Houston averaged 24.3 million viewers, while Kansas City's win at Pittsburgh averaged 24.1 million, according to early viewer figures released by Nielsen.
A judge ruled that a woman who says she was raped by Jay-Z and Sean "Diddy" Combs when she was 13 can proceed anonymously, for now, in her lawsuit against the rap moguls.
Hudson Meek, the 16-year-old actor known for his performance in the 2017 film "Baby Driver," died Dec. 21 in Alabama, authorities said.
Beyoncé surprised fans by bringing out Shaboozey to perform "Sweet Honey Buckiin," and Post Malone joined her for "Levii's Jeans."
The OpenAI issue was caused by an "upstream provider," according to the artificial intelligence organization.
New artificial intelligence features appeared across the tech landscape this year, from the latest iPhone to chatbots like Google's Gemini. Adam Auriemma, the editor-in-chief at CNET, joins CBS News 24/7 with more.
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
A robotic exosuit may seem like science fiction, but a team of South Korean researchers is turning the concept into reality. CBS News' Leah Mishkin explains how the new tech is helping people with disabilities walk on their own.
TVs are some of the most popular items to fly off store shelves during the holidays. But this year, experts say shoppers are going bigger than ever. CBS News' Jeff Wagner explains.
Space agencies worldwide are gearing up missions in 2025 to expand humanity's horizons, from the moon and Mars to asteroids and beyond.
Tahlequah has a newborn girl, years after she made headlines for carrying her dead calf for 17 days.
An ancient shipwreck that dates back to the 7th century B.C.E. has been removed from waters off Spain, two decades after its discovery in 1994.
The 2024 winter solstice, the shortest day of the year, happens on Saturday, Dec. 21, and is marked with traditions and celebrations around the world.
This week a group of plaintiffs in Missouri, Kansas, California and Florida filed a class-action lawsuit against dozens of companies and organizations, claiming they've falsely promoted how easy it is to recycle plastics. CBS News Los Angeles climatologist Marina Jurica has the details.
Authorities have found 12 skeletons buried in clandestine graves in Mexico's northern Chihuahua state near the U.S. border, officials say.
A grand jury has indicted the man accused of setting a woman on fire aboard a Brooklyn subway train, Brooklyn DA Eric Gonzalez announced Friday.
Japanese death-row inmate Chisako Kakehi, dubbed the "Black Widow" after she used cyanide to kill her elderly lovers, has died in a detention center at age 78, officials say,
A pizza delivery worker, upset over a tip, allegedly repeatedly stabbed a pregnant woman at a Florida motel, a sheriff's office says.
Ryan Routh, the man accused of trying to assassinate President-elect Donald Trump near his Florida golf course, could have his trial delayed as his lawyer mounts a legal defense. CBS News legal contributor Jessica Levinson has more on the latest developments.
NASA's Parker Solar Probe hurtled through the sizzling solar atmosphere and passed within a record-breaking 3.8 million miles of the sun's surface.
Space agencies worldwide are gearing up missions in 2025 to expand humanity's horizons, from the moon and Mars to asteroids and beyond.
New analysis techniques and decades-old research helped NASA scientists identify an unusual black hole in a distant galaxy.
Here's why NASA astronauts Suni Williams and Butch Wilmore are stuck, but not stranded, at the International Space Station after launching into space in June.
NASA has delayed the return date for Boeing's Starliner astronauts Butch Wilmore and Suni Williams. CBS News' Manuel Bojorquez reports on the decision to keep the two in space.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Peterson's death sentence for the murder of his pregnant wife Laci has been overturned. Now his supporters are pushing for a complete retrial.
The seesaw marriage between the former ballerina and her much older husband only lasted four years, until she shot him on Sept. 27, 2020.
Cayley Mandadi's mother and stepfather go to extreme lengths to prove her death was no accident.
See some of convicted serial killer Rodney Alcala's photographs that were discovered by detectives in a Seattle storage locker.
Only 10 states require students to take a personal finance course to graduate from high school, but by 2031, it's expected to jump to 26. Studies show requiring financial education improves credit scores, lowers loan delinquency rates and reduces the likelihood of falling behind on credit card payments.
In this week's "The Dish," Nancy Chen visits Cartwright's Maple Tree Inn in Western New York, a family-owned gem open just nine weeks a year. Known for its renowned buckwheat pancakes and made-on-site maple syrup, the restaurant attracts diners from all over the world despite its remote location.
As President Biden and former President Trump break age records, more people are asking how old is too old to serve in government. Health issues with lawmakers such as Texas Rep. Kay Granger, who hasn't voted due to health problems, are fueling the debate about age and term limits in politics.
2024 saw a rise in U.S. sales of hybrid and electric cars, but more Americans are still buying gas-powered vehicles. Kevin Roberts, director of economic and market intelligence for CarGurus, joined CBS News to discuss the year's trends in cars.
President Biden has just over a week to decide how he wants to move forward on Nippon Steel's proposed acquisition of U.S. Steel. CBS News White House reporter Willie James Inman has more on that and some of the other big news coming out of the Biden administration.