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.
Chicago police said the teen tried to rob a man at gunpoint, when the man pulled out a gun of his own and shot the teen.
The White Sox's current lease for Rate Field expires after the 2029 season.
Fresh off his win in the Tuesday's primary election, Republican gubernatorial nominee Darren Bailey visited the Chicago suburbs on Wednesday, and said he'll be focusing on building support in the Chicago area during his rematch with Gov. JB Pritzker.
They're using everything from scrap metal to paint to make critical connections.
Altman died on Tuesday, one day after battling an apartment fire in Rogers Park.
Fresh off his win in the Tuesday's primary election, Republican gubernatorial nominee Darren Bailey visited the Chicago suburbs on Wednesday, and said he'll be focusing on building support in the Chicago area during his rematch with Gov. JB Pritzker.
Illinois' heavily Democratic tilt means statewide candidates and those in the Chicago area and its suburbs are favored to win in November.
Some Illinois primary election candidates raked in huge amounts of campaign cash. Not all of them won their primaries, despite massive spending.
The Chicago City Council on Wednesday approved a $27 million settlement with the family of an innocent woman killed in a crash during a high-speed police chase in 2017.
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.
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.
The war with Iran is causing gas prices to surge, with motorists in Chicago and around the country guaranteed to feel the impact at the pump Monday morning.
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.
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."
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.
The late Sister Jean has been honored with T-shirts, socks, and bobbleheads — and now her spirit lives on with a new documentary.
Legendary Chicago blues singer and guitarist Buddy Guy took the stage at the Oscars Sunday night, performing alongside the cast of "Sinners."
Amy Madigan, who won the Academy Award for Best Supporting Actress Sunday night, is the daughter of a newsman who helped shape CBS Chicago in the 1960s.
"One Battle After Another" took home several big awards, including Best Picture, Best Director and the newly created Best Casting.
The acclaimed filmmaker, who died in February at age 96, revolutionized the art of documentaries with such films as "Titicut Follies." In an interview recorded last year, the pioneering Wiseman talked about his unusual production methods aimed at capturing life.
Shore Capital, a private equity firm of the Sox's owner-in-waiting, Justin Ishbia, is in the process of buying a 47-acre Amtrak rail yard in the South Loop, just across the river from the 78.
Union president Eric Schultz told CBS News Chicago that BP is demanding they cut 100 jobs and accept pay cuts to nearly all positions, something they won't accept.
Fresh off his win in the Tuesday's primary election, Republican gubernatorial nominee Darren Bailey visited the Chicago suburbs on Wednesday, and said he'll be focusing on building support in the Chicago area during his rematch with Gov. JB Pritzker.
Their works are now on display at McCord Gallery and Cultural Center in Palos Park through March 28.
Highs will be in the 60s Saturday and Sunday, and into the 50s Sunday. Chief Meteorologist Albert Ramon has the latest.
The family of a college student from Elmhurst who was reported missing during a trip to Spain said his disappearance is "completely out of character."
Mayor Brandon Johnson on Wednesday pledged to veto an ordinance approved by the City Council to halt the phase-out of Chicago's subminimum wage for tipped workers, calling the proposal "shameful."
Altman died on Tuesday, one day after battling an apartment fire in Rogers Park.
United Steel Workers union representatives said that some workers had already had their access cards deactivated.
Chicago police said the teen tried to rob a man at gunpoint, when the man pulled out a gun of his own and shot the teen.
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.
The White Sox's current lease for Rate Field expires after the 2029 season.
Wisconsin lawmakers are taking a shot at expanding sports betting in the state.
Minnesota forward Nick Foligno received a warm welcome in his first game against Chicago since he was acquired in a March 6 trade with the Blackhawks.
With the game tied going into the 9th, Eugenio Suárez smacked a double into left-center field to score pinch runner Javier Sonoja for what would prove to be the winning run.
Matas Buzelis led the Bulls with 29 points, including five 3-pointers.
A man from Chicago's northwest suburbs stood charged Tuesday with leaving the scene of a crash and driving drunk, after authorities said he hit a pedestrian overnight near Barrington, Illinois.
A man stood charged Tuesday in two separate shootings that wounded a Chicago police sergeant and a 63-year-old woman in the Pullman and Roseland neighborhoods this past weekend.
Jurors delivered their verdict Monday in the trial of Kouri Richins, a Utah mother accused of murdering her husband and later publishing a children's book about grief.
A suspect Is in custody after one person was killed and another was critically injured in a stabbing on Sunday morning at a home in Merrillville, Indiana.
A man was critically injured after he was shot while driving in Chicago's West Humboldt Park neighborhood Sunday night.
