Federal Reserve leaving rates steady for second time this year | Money Watch
For now, fed policymakers left short-term interest rates where they are, between 3.5-3.75%.
Watch CBS News
For now, fed policymakers left short-term interest rates where they are, between 3.5-3.75%.
Stocks fell sharply on Wall Street on Thursday as oil prices rose further because of the war with Iran.
U.S. motorists could soon see higher prices at the pump as oil prices surge following the attacks in Iran.
With affordability a key issue in this year's midterm elections, a recent CBS News poll found 74% of Americans say the trump administration isn't focused enough on lowering prices.
Several major retailers are now charging customers to return items even if they are unopened and in perfect condition.
CBS News polling shows most Americans disapprove of the president's handling of the economy, and Democratic leaders warn some Americans could face more financial challenges with rising health care costs.
The Federal Reserve is meeting to discuss a potential interest rate cut, with policymakers divided on the path ahead. As Lisa Rozner reports, this is happening as many Americans struggle to keep up financially.
Holiday spending is hitting new records, but some data shows that people are buying fewer items amid higher prices.
A CBS News poll shows most Americans feel prices have gone up in recent weeks. Still, many view holiday spending as essential.
A CBS News poll shows most Americans feel prices have gone up in recent weeks. Still, many view holiday spending as essential.
Des Moines Public Schools has released a report claiming it received an incomplete background check and a likely forged transcript when hiring former superintendent Ian Roberts.
Americans are paying significantly more for these food staples, price inflation data shows. Will inflation ever relent?
Northwestern University professor Joel Mokyr was among three people awarded the Nobel Prize in economics on Monday for their research into technological progress and economic growth.
Monthly report shows private employers shed 32,000 jobs last month, another sign the labor market is facing new challenges.
Today's CPI report marks the last major piece of economic data before the Federal Reserve's Sept. 17 rate decision meeting.
The downward revision from the Bureau of Labor Statistics shows the job market was slowing in 2024 and early 2025.
The economy added 22,000 jobs in August, which was far below expectations. As Nikole Killion reports, the jobs report is fueling fresh concerns about a slowdown.
The latest employment data could inform the Federal Reserve's next rate decision meeting, set for Sept. 17.
Federal Reserve Chair Jerome Powell has been under pressure from President Trump to lower the central bank's benchmark interest rate.
Incomes are still trailing inflation four years after the pandemic-era surge in prices, causing a financial pinch for many households.
Economists caution new tariffs could pose economic risks, but the White House says growth is rebounding amid low inflation.
The U.S. officially began levying higher tariffs on dozens of countries, just as the economic fallout of President Trump's months-long tariffs threats was beginning to create visible damage to the U.S. economy.
President Trump said he ordered his administration to fire Bureau of Labor Statistics Commissioner Erika McEntarfer after the July jobs report.
Hiring across the U.S. was weaker than expected in July, a sign the labor market is shifting into lower gear.
The Consumer Price Index in June rose 2.7% on an annual basis, in line with economists' predictions.
This Women's History Month, meet Ritu Shah as she shares her journey from being a chemical engineering student to becoming CEO at ClostraBio in Chicago.
A Chicago man has been charged with threatening to shoot up a synagogue in retaliation for the killing of Iranian Supreme Leader Ayatollah Ali Khamenei.
The DOJ's Recognition and Accreditation program enables non-attorneys to assist immigrants with needs including naturalization petitions and immigration court appearances.
Tickets to a pair of Blackhawks games in Germany next season will go on sale on Friday.
A memorial mass was held Monday morning for the Elmhurst, Illinois native who died in Spain last week.
The DOJ's Recognition and Accreditation program enables non-attorneys to assist immigrants with needs including naturalization petitions and immigration court appearances.
Rahm Emanuel is proposing a far-reaching measure to crack down on betting in predictive markets in Washington as part of an effort to call attention to what he sees as a culture of corruption gripping the nation's politics.
In a 54 to 37 vote, two Democrats voted with all Republicans in attendance to advance Sen. Markwayne Mullin's nomination. A final confirmation vote is expected in the coming days.
Robert Mueller served as FBI director from 2001 to 2013 and led the investigation into allegations of Russian meddling in the 2016 presidential election.
Wait times aren't expected to improve until government funding is restored and TSA officers receive paychecks.
Illinois Secretary of State Alexi Giannoulias this weekend issued a warning about a surge in text messages that falsely claim to come from his office or the DMV within it.
Tenants at a South Loop luxury high-rise that has been plagued with problems like broken elevators are vowing to fight five-day eviction notices.
It's become an annual March Madness tradition at CBS Chicago, pitting our city's best eateries in direct competition in a foodie bracket challenge. We did pizza, we've done Italian beef, we've done Chicago dogs. This year, we're taking flight with wings.
For Cook County residents hoping to lower their property tax bills, applications are open for exemptions.
Officials in the north Chicago suburb of Wilmette issued a warning Tuesday about scammers who are impersonating representatives of village departments.
A new Iowa law bans local nondiscrimination protections on the basis of gender identity after the state became the first in the U.S. to roll back its civil rights code last year.
Food containing norovirus may smell and taste normal but still cause serious illness if consumed, FDA warns.
Illinois Gov. JB Pritzker on Monday announced a $1.5 billion investment from biotherapeutics company CSL for a new plasma therapy manufacturing plant in Kanakee.
When a doctor was told there was no cure for his daughter's condition, he was motivated to transform not only her health, but the lives of thousands of others.
Ann & Robert H. Lurie Children's Hospital announced this week that it is planning to open a new pediatric hospital in the west Chicago suburb of Downers Grove.
Hundreds of workers were locked out of the BP refinery in Whiting, Indiana, on Thursday after contract negotiations failed to produce a deal ahead of a midnight deadline.
The artificial intelligence and cryptocurrency industries have suffered a setback as they try to reshape the midterm elections and establish themselves as power players in American politics.
Wednesday marked the last day to help celebrate Lou Malnati's pizzeria's 55th birthday with a special deal.
Despite a rash of restaurant closures, veterans of the plant-based food business pushed back against prophecies of doom — and in one case argued that such closures notwithstanding, plant-based eating is only growing.
Two popular Chicago craft breweries – Half Acre Beer Co. and Maplewood Brewery & Distillery – announced on Tuesday they are merging to create a new "premier Chicago beverage company."
Following a ribbon-cutting attended by Chicago Mayor Brandon Johnson on Saturday, people were let inside the new space, at 5035 N. Broadway right off Argyle Street, for a special open house.
Chuck Norris' family said his death at 86 was sudden, but did not share any details on the cause.
ABC has canceled its already filmed season of "The Bachelorette" starring Taylor Frankie Paul after video surfaced of a 2023 incident in which she was charged with assault.
Acclaimed Chicago bar and music venue The Hideout has been sold to a performer and former employee, but the owners said it will carry on as the same beloved place that visitors have always known.
Afroman spoke to CBS News after he won the case, which tested the limits of parody and the license artists can take in social commentary directed at public figures.
A new survey shows that almost 60% of Americans reported spending at least five hours a day looking at screens. Chiropractors said it's leading to the need for treatment for neck problems.
Before becoming CEO at ClostraBio, she originally picked chemical engineering as her college major to create makeup for women with darker skin. Later, she worked at a company that researched treatment for rare diseases.
The study by WalletHub also found that when it came to work-related stress, the state ranked No. 7.
The storied theatre company just got a grant from the Stephen Sondheim Foundation for the program. It was put on hold during the COVID-19 pandemic.
A man was detained until trial Monday on charges in the death of a Chicago firefighter who died fighting a blaze in the city's Rogers Park neighborhood.
The man charged in the murder of Sheridan Gorman missed his first court appearance because he was being treated for tuberculosis, prosecutors said.
U.S. Immigration and Customs Enforcement agents arrived at O'Hare International Airport Monday morning, CBS News Chicago confirmed.
Three people are dead in what appears to be a triple homicide in Crete Township, Illinois, the Will County Sheriff's Department said Monday morning.
A man was detained until trial Monday on charges in the death of a Chicago firefighter who died fighting a blaze in the city's Rogers Park neighborhood.
This Women's History Month, meet Ritu Shah as she shares her journey from being a chemical engineering student to becoming CEO at ClostraBio in Chicago.
United Steel Workers union representatives said that some workers had already had their access cards deactivated.
Have you ever walked into a business with no employees? You may soon; autonomous businesses are becoming more popular.
Streets were left pooled with rainwater, and homes flooded after Sunday night's storms. Residents say there is one clear solution
Attorneys for the family of a woman killed in a crash during a high-speed police chase in 2017 say officers involved failed to activate their body cameras or turned them off during the pursuit.
A new specialized unit is being created to prosecute domestic violence homicides in Cook County, as these killings surged 15% last year, even as overall violent crime declined across Chicago.
Tickets to a pair of Blackhawks games in Germany next season will go on sale on Friday.
Chicago's win was the team's first of the season after losing 4-0 to Angel City FC last weekend.
Bedard scored his team-leading 29th goal, and Nick Lardis connected as the Blackhawks lost their second straight.
Chanting in celebration, Illinois fans basked in a second-round victory in the tournament over Virginia Commonwealth University.
Illinois will now go on to face Houston on Thursday, March 26, at the Toyota Center.
Burglars crashed into the renowned Golden Apple Grille and Breakfast House in Chicago's Lakeview neighborhood early Monday morning, while the 24-hour restaurant was open.
A man was detained until trial Monday on charges in the death of a Chicago firefighter who died fighting a blaze in the city's Rogers Park neighborhood.
The man charged in the murder of Loyola University Chicago student Sheridan Gorman last week missed his first court appearance on Monday, because he was being treated for tuberculosis, prosecutors said.
Police in London are investigating a suspected antisemitic hate crime after vehicles belonging to a Jewish ambulance service were set on fire early Monday morning.
Chicago police on Sunday continued to question a person of interest in the shooting that killed Loyola University student Sheridan Gorman in Rogers Park.
