Fed lowers interest rates by 0.25 percentage points in third straight cut
The Federal Reserve is grappling with economic issues including higher inflation and a slowing labor market.
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The Federal Reserve is grappling with economic issues including higher inflation and a slowing labor market.
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.
Lisa Cook sued the Trump administration to block her firing, the first time a president has sought to remove a member of the seven-person board of governors.
The Consumer Price Index is now at 2.9%, up a 0.4% from the previous month.
Federal Reserve Governor Lisa Cook filed suit against President Trump, Chair Jerome Powell and the Fed's Board of Governors on Thursday, asking a federal judge to block the president's attempt to fire her from the central bank.
President Trump said Monday he has fired Lisa Cook from the Federal Reserve's Board of Governors. Her attorney countered that they plan to file a lawsuit challenging the move.
President Trump continues to raise the stakes in his crime crackdown, held a public cabinet meeting in front of cameras, and is trying to fire Federal Reserve Gov. Lisa Cook Tuesday.
Federal Reserve Chair Jerome Powell has been under pressure from President Trump to lower the central bank's benchmark interest rate.
The Fed is maintaining its benchmark interest rate in the range of 4.25% to 4.5%, where it's been parked since December.
Investors are closely watching the Federal Reserve as it meets in Washington, D.C., to announce what's next for interest rates. President Trump is pushing the board to reduce rates.
The battle came as the president sparred with the head of the federal reserve in a rare presidential visit to their headquarters.
The House will soon take up the package of spending cuts narrowly approved by the Senate overnight, that slashes previously approved funding for foreign aid as well as PBS and NPR. Lawmakers are also reacting to President Trump's latest comments on whether he'll try to oust Federal Reserve Chair Jerome Powell, whom he has repeatedly criticized for not lowering interest rates.
President Trump has lashed out against Federal Reserve Chair Jerome Powell for weeks.
President Donald Trump is escalating his pressure campaign to get the Federal Reserve chairman to either lower interest rates or quit his post by targeting the expensive renovation at the central bank’s headquarters.
The Federal Reserve kept its key interest rate unchanged at its May meeting on Wednesday, brushing off President Trump’s demands to lower borrowing costs.
Stocks suffered their worst crisis since COVID in March 2020, as the Dow Jones plunged more than 2,200 points on Friday, over concerns about the fallout from President Trump’s tariffs. The NASDAQ and S&P lost nearly 6 percent. Posting on social media as he went golfing, the president called this “a great time to get rich.” But in a rare move, President Trump is calling on the Federal Reserve to cut interest rates. Fed chairman Jerome Powell warned on Friday that tariffs could do long-term harm to the economy.
Fed Chair Jerome Powell cites "high uncertainty" around the impact of Trump administration tariffs on key trading partners.
The Federal Reserve opted to leave its benchmark interest rate unchanged in its first policy meeting since President Trump's inauguration.
The Federal Reserve on Wednesday moved to lower its benchmark rate by 0.25 percentage points, but said it plans fewer cuts in 2025.
On Thursday afternoon, the Federal Reserve decided to institute the second cut the interest rate of the year.
The Federal Reserve just lowered its benchmark rate by 0.50 percentage points. Here's how the move could impact your finances.
The Fed's decision will lower borrowing costs from a 23-year high as the central bank pivots to shoring up economic growth.
The decision could help people trying to borrow money for a home or a car. But as Bradley Blackburn reports, it might take a while to feel the effects.
The 142,000 jobs added in August is fewer than the expected 160,000. It's also the 44th consecutive month of job growth.
Inflation-weary consumers have also been slammed by high borrowing costs, but the Fed is cautious about sticky inflation.
A new law will begin targeting rogue tow truck companies in Illinois, starting Jan. 1, 2026, seeking to stop tow companies from rebranding under a new name if they're proven to have predatory practices.
O'Hare staff expected this holiday travel season to possibly set records at the Chicago hub.
Police are looking for the person who shot three men outside of St. Sabina Parish on Sunday afternoon. Fr. Michael Pfleger said the shooting started with an argument inside his church's community center.
A fire was burning in a scrap yard on Monday afternoon on the West Side of Chicago.
Two teenage boys were placed into custody and later released to their parents, Joliet police said.
Israeli Prime Minister Benjamin Netanyahu also announced President Trump will receive the Israel Prize for his work on peace negotiations.
Ukrainian President Volodymyr Zelenskyy lauded "strong security guarantees" from the U.S. after Sunday's meeting with President Trump in Florida.
The Veterans Affairs Department is reimposing a near total ban on abortions for veterans and their families that was modified in 2022.
Strikes against ISIS targets in Nigeria come after President Trump spent weeks accusing the West African country's government of failing to rein in the persecution of Christians.
The message, aired on Channel 4 on Christmas Day, reflected on the impact of President Trump's second term in office thus far.
A new report shines a light on electricity shortages that Illinois could face in less than 10 years.
With less than two weeks until Christmas, if you're sending gifts to people far from home, the deadlines to get them there on time are fast approaching.
A condo owner in Country Club Hills says he's forced to sell his home after his condo association failed to reimburse him for repairs to his leaking roof. Edward Hadnott's condo has sat empty since a major roof leak in 2022.
The U.S. stopped minting pennies this week, and some groups have issued a warning about the headaches that can create for some businesses and consumers.
Why is one school in the west Chicago suburb of Lisle paying a water bill three times higher than another? The answer has to do with a private utility company.
Millions of people with an Affordable Care Act health plan face a massive jump in premiums next year — this chart shows just how much.
It's the holiday season, which means it's the most common time of year for norovirus to spread. Here's what you need to know about this winter stomach bug.
A study conducted in part by Chicago's Northwestern Medicine found that tanning beds not only triple the risk of melanoma, but can also damage DNA across nearly the whole skin surface.
An investigation into the case of a Michigan man who contracted rabies after an organ transplant provided more details on the infection's origin.
The newest measles vaccination numbers released by Chicago Public Schools shows immunizations are finally moving in the right direction.
American Airlines announced Monday that it is adding 100 more departures from Chicago early next year as it continues its expansion at O'Hare International Airport.
The Chicago Bears are expanding their search for a new stadium to Northwest Indiana, even though they already own land in Arlington Heights and have also proposed a new lakefront stadium in Chicago.
A Culver's is coming to Chicago's South Loop, a real estate broker has confirmed.
A new vision for passenger rail is on track in southeastern Wisconsin. The MARK Passenger Rail Commission held its inaugural meeting on December 5, 2025, at Racine City Hall.
U.S. Steel says it'll resume making steel slabs at its Granite City Works plant in Illinois amid strengthening demand.
It marks the second lawsuit in recent months accusing the filmmaker and studio mogul of leveraging his power in Hollywood to make sexual advances.
The band announced Perry Bamonte's death on their official website on Friday.
The message, aired on Channel 4 on Christmas Day, reflected on the impact of President Trump's second term in office thus far.
The singer said an MRI showed a cancerous spot on one of his lungs after he recovered from a lengthy bout of bronchitis.
James Ransone, the actor who played Ziggy Sobotka in the HBO series "The Wire" and appeared in many other TV shows and movies, has died.
Chicago led the travel website FlightAware's so-called misery map on Monday afternoon.
A Good Samaritan’s split-second decision to stop might have saved a family from a deadly fall down a steep embankment after they crashed on a California highway.
President Trump is spending the New Year's week at his Mar-a-Lago estate in Florida, tackling international diplomacy, as he discusses the Gaza peace plan with Israeli Prime Minister Benjamin Netanyahu, and meets with Ukrainian President Volodymy Zelenskyy about efforts to end Russia’s invasion.
Police are looking for the person who shot three men outside of St. Sabina Parish on Sunday afternoon. Fr. Michael Pfleger said the shooting started with an argument inside his church's community center.
Fairgoers are encouraged to download tickets before arriving at the fairgrounds or save them to their phone's mobile wallet.
A fire was burning in a scrap yard on Monday afternoon on the West Side of Chicago.
Some homeowners in central Illinois were dealing with damage they didn't expect in December, after strong winds from Sunday's severe weather.
Police are looking for the person who shot three men outside of St. Sabina Parish on Sunday afternoon. Fr. Michael Pfleger said the shooting started with an argument inside his church's community center.
A new law will begin targeting rogue tow truck companies in Illinois, starting Jan. 1, 2026, seeking to stop tow companies from rebranding under a new name if they're proven to have predatory practices.
O'Hare staff expected this holiday travel season to possibly set records at the Chicago hub.
Cameras not working, video evidence missed by police and a psychic that leads a hit and run victim's son to a clue that changes the case
Some Chicago area hospitals are at risk of significant flooding both in and around the buildings, according to new KFF Health News/Fathom models.
Lawmakers in Springfield are looking to address the high water bills being reported in some suburbs from customers of Illinois American Water.
Electric bills in the Chicago area could go up as much as $70 in the next three years because of data centers, according to the Citizens Utility Board.
Advocates and legislators are seeking solutions and and accountability for a pattern of Chicago police arresting Black gun owners on firearms charges despite valid FOID and CCL licenses.
Playing the Music City Bowl isn't exactly what the Tennessee Volunteers once targeted in a season that featured four losses to teams inside the top 15 of the final College Football Playoff rankings.
Brock Purdy threw a 38-yard touchdown pass to Jauan Jennings with 2:15 to play, and the San Francisco 49ers forced an incomplete pass on the final play from the 2 to beat the Chicago Bears 42-38 and set up a Week 18 showdown for the top seed in the NFC.
The Penguins led 4-0 midway through the first period.
The Bears have the potential to become the NFC's No. 1 seed with victories over the San Francisco 49ers and Detroit Lions and one loss by the Seattle Seahawks.
Up 95-94 with about five minutes to play, Milwaukee got 3-pointers from Rollins and AJ Green during an 8-0 run that gave it some breathing room. The Bulls never got closer than three the rest of the night.
Chicago police are warning about a string of burglaries last week targeting businesses in the Logan Square and Humboldt Park neighborhoods.
The owners of a consignment shop in Chicago's northwest suburbs said they are devastated after thieves nearly wiped out their entire inventory in a matter of seconds.
Police were coming up short Monday in their investigation of a mass shooting in Chicago's River North district, which killed one man and left three others in critical condition.
Charges have now been filed against four people after a teenager's gun went off during a struggle with police in Chicago's West Lawn neighborhood.
The ages of the victims range from 18 to 55, according to police.
