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%.
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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.
The Chicago White Sox have sent infielder Lenyn Sosa to the Toronto Blue Jays in exchange for minor league outfielder Jordan Rich and a player to be named later or cash considerations.
Burglars struck a restaurant in the South Loop overnight Sunday night into Monday, forcing the restaurant to close for the day.
Isolated severe storms are possible Monday afternoon amid unseasonably warm and humid weather, with temperatures running 20 degrees above average.
Contestants for the University of Chicago's Art in Science competition began entering artistic submissions from their scientific research in February.
Chicago has four seasons (or more, depending on who you ask), but what exactly makes the seasons change throughout the year?
A federal judge in Miami handed President Trump a defeat in his defamation lawsuit against the Wall Street Journal over a story about a birthday book for Jeffrey Epstein.
Lawmakers are returning to Washington to face major developments in the war with Iran, a lingering DHS shutdown and possible expulsion votes for some of their own members.
Swalwell faced pressure from his own party to drop out of the race after a former staffer accused him of sexually assaulting her when she was too drunk to consent.
President Trump said the U.S. Navy will begin blockading ships from entering or exiting the Strait of Hormuz and intercept vessels that have paid tolls to Iran.
Transportation Secretary Sean Duffy pointed out that gamers "have many of the hard skills it takes to be a successful controller."
A passenger on an American Airlines flight from New York to Chicago has been charged with making a false bomb threat that forced an emergency landing at Detroit Metro Airport last month, according to a federal criminal complaint.
Skyrocketing property taxes continue to be a hot-button issue in Cook County — particularly since last fall, when many residents saw their tax bills increase by 100% or more.
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.
The Centers for Disease Control and Prevention says more than 80% of deaths related to pregnancy are preventable, and Black women are three times more likely to die from pregnancy-related causes than white women.
The United States has long struggled with understanding and finding ways to help treat mental illness. A new documentary, which is screening Saturday in Chicago, examines the reality of living with mental illness in America.
Allergy season is here, and the dreaded pollen can trigger sneezing, congestion, wheezing, and shortness of breath.
Northwestern Medicine and the American Red Cross teamed up for a community blood drive in Chicago on Monday morning.
Ending domestic violence is the goal of groups and advocates all over the world, and some experts in Chicago say it is time to become less reactive and more proactive when it comes to the people causing harm.
A new restaurant has joined the busy stretch of Halsted Street toward the south end of Chicago's Lincoln Park neighborhood that is also home to Alinea and Boka.
The federal government is suing Illinois, Connecticut and Arizona over efforts to regulate prediction market operators such as Kalshi and Polymarket.
The owners of the popular Uncommon Ground restaurant, live music venue, and brewery in Chicago's Wrigleyville community announced this week that they're looking for a successor to take over the business.
Chicago consistently ranks in the top three cities in Fortune 500 company headquarters, and now a competition has been launched to build on Chicago's power in business.
The flagship Ann Sather restaurant on Belmont Avenue in Chicago's Lakeview community will be moving later this year, a restaurant representative said Tuesday.
The United States has long struggled with understanding and finding ways to help treat mental illness. A new documentary, which is screening Saturday in Chicago, examines the reality of living with mental illness in America.
Afrika Bambaataa, a rapper and producer, was best known for breakthrough tracks like 1982's "Planet Rock" and for founding the Universal Zulu Nation art collective.
Mozart's "Don Giovanni," the local premiere of the 2022 opera "Omar," and a fresh production of "Guys and Dolls" are among the highlights of the 2026-2027 season for Chicago's Lyric Opera.
Federal magistrate Renee Harris Toliver told Pooh Sheisty that the evidence against him is strong.
A major music festival featuring the rapper formerly known as Kanye West was canceled after the U.K. government blocked Ye from entering the country.
Unseasonably warm with an isolated storm threat Monday afternoon. Highs around 80.
The astronauts from the Artemis II mission are home and getting back to their regular lives. Astronaut Christina Koch captured a sweet reunion with her dog, Sadie.
A key City Council panel on Monday backed a $9.5 million settlement with a man who spent 19 years in prison after he was wrongfully convicted of murder.
London Woodard died, and his brother, Mikah Glass, was critically injured, in the fire in Chicago's Washington Heights neighborhood. Lauren Victory reports.
Pope Leo XIV is visiting Africa Monday, while pushing back against President Trump’s attack on him and his stance against the war with Iran and U.S. immigration policy. Tina Kraus reports.
A 10-year-old boy died and a disabled teen is in critical condition after a fire in Washington Heights Monday morning.
A woman was hit and killed by a sport-utility vehicle on Chicago's Near West Side Sunday night.
A man was hurt in Chicago's Lakeview community after a car involve in a crash veered into a CTA bus shelter where the victim was standing on Sunday night.
Burglars struck a restaurant in the South Loop overnight Sunday night into Monday, forcing the restaurant to close for the day.
Isolated severe storms are possible Monday afternoon amid unseasonably warm and humid weather, with temperatures running 20 degrees above average.
New proposed Illinois legislation would allow renters or people who can't install massive rooftop panels to also harness the power of the sun.
When a rusty light pole snapped and fell on a woman's car in Bucktown, causing thousands of dollars in damage, she thought the city would pay for it. She was wrong.
Financial exploitation is the leading type of elder abuse in Illinois. One Streamwood woman learned that personally, when her brother took hundreds of thousands of dollars from their parents' financial accounts.
One year after a teenage girl was shot outside her home in Country Club Hills, Illinois, and was told she would never walk again, she continued to defy the odds and reclaim her independence.
A Morgan Park family is still in shock after a staggering 300% spike in their latest property tax bill, and the man poised to take over as Cook County Assessor at the end of the year says it's an error he wants to make sure doesn't happen again.
The Chicago White Sox have sent infielder Lenyn Sosa to the Toronto Blue Jays in exchange for minor league outfielder Jordan Rich and a player to be named later or cash considerations.
The Wildcats are led by another record-setting superstar, hoping to lead them back to the top.
Ryan Nembhard broke Dallas coach Jason Kidd's club rookie record with 23 assists after No. 1 pick Cooper Flagg's debut season ended with an ankle injury, and the Mavericks beat the Chicago Bulls 149-128 in a season finale.
Chicago equaled a club record by using nine pitchers in a nine-inning game.
Rory McIlroy of Northern Ireland won the 2026 Masters Tournament at Georgia's Augusta National, claiming his second straight green jacket.
Burglars struck a restaurant in the South Loop overnight Sunday night into Monday, forcing the restaurant to close for the day.
Dominic Frimpong was killed after the team's bus was attacked by a group of suspected armed robbers, officials said Monday.
Prosecutors said the victim of a deadly shooting in Chicago's Humboldt Park neighborhood back in January was the new boyfriend of the alleged shooter's ex-girlfriend.
A man was killed this weekend in a shooting in the south Chicago suburb of Oak Forest.
Chicago police on Sunday were investigating a shooting in the Back of the Yards neighborhood involving a teen riding a scooter.
