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%.
Fed officials are grappling with a host of economic challenges, from stubborn inflation to a slowing job market.
President Trump says he is nominating Kevin Warsh to be the next chair of the Federal Reserve, filling a powerful economic policy role as the president pushes for lower interest rates.
The U.S. Supreme Court heard oral arguments Wednesday in a high-stakes case that could have a major impact on the independence of the Federal Reserve. At issue is the legality of President Trump’s attempts to fire Lisa Cook from her post on the Board of Governors of the Federal Reserve.
The subpoenas threatened a criminal indictment related to Jerome Powell's testimony before the Senate Banking Committee in June 2025, according to the Fed chair.
Meanwhile, Federal Reserve Chairman Jerome Powell is now facing a criminal investigation. Bradley Blackburn reports.
Federal prosecutors claim Powell lied to Congress when he testified last year about the cost of the renovation of the Fed’s D.C. headquarters.
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.
Researchers at the University of Chicago have built a "self-driving" lab that uses robotics and artificial intelligence to accelerate work that would take humans weeks or months to complete.
Airbags were stolen from multiple cars overnight on Chicago's North Side, the latest in a string of thefts in recent months targeting Hondas.
President Trump fired Pam Bondi as U.S. attorney general on Thursday, and insiders said the revolving door at the top of the Justice Department is spinning just as fast at the U.S. Attorney's office in Chicago.
A man was sentenced to 55 years in prison on Thursday after pleading guilty to his role in the 2023 murder of Chicago Police Officer Aréanah Preston.
An ATF agent opened fire during an operation in a Walmart parking lot on Chicago's South Side Thursday morning, the agency confirmed.
President Trump fired Pam Bondi as U.S. attorney general on Thursday, and insiders said the revolving door at the top of the Justice Department is spinning just as fast at the U.S. Attorney's office in Chicago.
President Trump has ousted Pam Bondi as attorney general, saying she will be taking a job in the private sector.
President Trump said in a speech that the U.S. will complete its military mission in Iran "very shortly," and that U.S. forces have achieved "overwhelming victories."
President Trump has told Britain's Telegraph newspaper he could try to terminate U.S. membership in NATO. He's railed against NATO allies for refusing to join the Iran war.
The Supreme Court on Wednesday appeared open to invalidating President Trump's executive order that would end birthright citizenship.
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.
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 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.
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.
Chicago Bulls legend Scottie Pippen threw some shade at former teammate Michael Jordan in a new pop commercial.
The City Council in Aurora, Illinois, is likely to lay down the hammer on data centers.
When Jean-Luc Godard's "Hail Mary" opened in Chicago on April 4, 1986, it drew a throng of angry protesters who considered the film an affront to their faith.
Applications are open for residents and bands who want to participate in PorchFest in Chicago's Lakeview and Roscoe Village communities this year.
A Las Vegas performer has sued Taylor Swift over the title of her hit album "The Life of a Showgirl," alleging it violates the performer's trademark.
Chicago-native John Mulaney announced a new stop at the Wisconsin State Fair this summer.
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.
A tornado watch and a wind advisory are in effect as lines of severe storms are racing east to the Chicago area.
“Bob's Burgers” voice actor and comedian Eugene Mirman was seriously injured in a fiery crash. He was pulled from the wreckage by a state trooper assigned to protect the governor of New Hampshire.
The three Americans and one Canadian are on track to bust out of orbit around Earth on Thursday night and zoom to the moon for a lunar fly-around. It will be Mission Control’s first translunar injection since Apollo's swan song in 1972.
Some dinosaur-shaped chicken nuggets have been recalled because they could be contaminated with lead, while some pots and pans have a loose screw that could cause major injuries.
Airbags were stolen from multiple cars overnight on Chicago's North Side, the latest in a string of thefts in recent months targeting Hondas.
A man was sentenced to 55 years in prison on Thursday after pleading guilty to his role in the 2023 murder of Chicago Police Officer Aréanah Preston.
President Trump fired Pam Bondi as U.S. attorney general on Thursday, and insiders said the revolving door at the top of the Justice Department is spinning just as fast at the U.S. Attorney's office in Chicago.
There is now a Tornado Watch alongside a Wind Advisory in effect as several rounds of severe storms that could prompt tornado warnings barrel toward the Chicago area.
Hyde Park Academy High School students are mourning the second classmate killed by a hit-and-run driver in little more than a week.
Researchers at the University of Chicago have built a "self-driving" lab that uses robotics and artificial intelligence to accelerate work that would take humans weeks or months to complete.
Researchers at the University of Chicago have built a "self-driving" lab that uses robotics and artificial intelligence to accelerate work that would take humans weeks or months to complete.
Johnson said the position was temporary, but when the chief homelessness officer was first appointed, she told CBS News Chicago that her role was funded for three years, not two.
A former stand-out college football star with a criminal history has been convicted of sexually abusing foster children who were in the care of a Chicago facility at the center of a massive investigation.
Two more women have filed lawsuits against Massage Envy, accusing the company of failing to protect them against sexual assaults by two of their therapists.
Homeowners in Berwyn said they are constantly having to pump out sewage to keep it from flooding their basements.
Body camera video has been released of Tiger Woods' arrest, after a car crash in Florida. He has been charged with driving under the influence.
The Bulls have lost five straight.
Matthew Boyd struck out 10 while pitching into the sixth inning, and the Chicago Cubs beat the Los Angeles Angels 6-2.
Sandy Alcantara threw the first complete game of the MLB season in a 93-pitch shutout to lead the Miami Marlins over the Chicago White Sox 10-0.
The White Sox have postponed Thursday's home opener against the Blue Jays until Friday, due to expected thunderstorms.
Some Joliet, Illinois, residents were asked to shelter in place Thursday morning as police executed a search warrant.
A man stood charged Thursday with holding up five men at gunpoint after luring them by offering to buy anime cards on online marketplaces.
A man was apprehended late Wednesday night after a standoff in Chicago's East Garfield Park neighborhood.
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.
The U.S. Postal Inspection Service announced Tuesday that it was offering a reward of $100,000 for information leading to the arrest of each of three accomplices in numerous mail thefts in Chicago.
