Federal Reserve hikes key interest rate by another 75 basis points
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.
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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.
President Biden announced an unprecedented set of actions to ease the financial squeeze for fuel, including accessing about a third of the nation's strategic reserve until October. Errol Barnett has the latest on what this means for Americans.
"We are still clearly not out of the weeds."
Amazon and Netflix continue to do well as coronavirus isolates people in their homes, but many other companies have benefited or may soon.
Because of the weak economy, retailers are competing with each other to fill their positions.
President Donald Trump thinks the stock market would "crash" if he were impeached and "everybody would be very poor." Wall Street analysts beg to differ.
While a lot of the newly employed hold white collar positions, industry experts say about half of the 200,000 are low-wage jobs.
Is your small business protected from even the slightest of downturns? Use these solutions to provide stability to your cash flow.
A local consulting company is estimating the economic impact will be about $90 million in the Chicago area.
Stocks closed higher on Thursday, with all three of the major indices posting record closes, as investors sifted through encouraging economic data ahead of Friday's key jobs report.
The Federal Reserve raised interest rates on Wednesday for the first time since last year. It is a good sign for the economy, but may be a bad sign for your budget.
Want to buy your first house, but the down payment and closing costs are too steep? The city wants to help, with a handout worth thousands of dollars. CBS 2's Mike Parker explains how you can cash in.
A University of Illinois Chicago study delivers a sobering assessment on job prospects for Chicago's teenagers of color.
There's at least one silver lining, CBS 2's Dorothy Tucker reports.
About 300 veterans and their family members showed up at Union Station today for a job fair.
With Houston about to overtake Chicago as the third most populous city in the nation, a local planning expert has offered some bold ideas for putting the boom back in the local economy.
The latest annual study finds traffic has recovered completely since the economy tanked in 2008, and five of the 20 most congested roads in the U.S. are in the Chicago area.
Shock waves on the stock market as the three main U.S. indices suffered one of the steepest selloffs in years.
The fair was open to a variety of construction jobs, including pipefitters, operating engineers, electricians, represented by 22 labor unions.
CBS 2's Jim Williams reports there's one sector apparently booming again: manufacturing.
Chicago remains the third largest city in the U.S., but Census data show it's the slowest-growing of the top 10 cities with populations of 1 million or more.
A majority of those voters were pessimistic about the city's economy as they hit their polling places.
We're not talking about record profits for these small businesses. It's more about a confident feeling that the economy is chugging along at a pace where they can expand. CBS 2's Vince Gerasole reports.
The stock market delivered an early Christmas present, closing above the 18,000 mark for the first time.
