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"In the minutes from the Fed's September meeting, they articulated something very clearly. They said they are much more concerned about doing too little on interest rates and inflation rather than too much,"
With inflation forcing many seniors to cut back on food and medicine, annual cost-of-living hike will boost their income.
The most eyepopping increase: an almost 50% jump on a carton of eggs.
So far this year, the centers have served 2,163 guests. Last year in total, the number was 422.
Ron Gresham is struggling to afford the unit where he keeps awards from working with artists like Earth, Wind & Fire and Boys II Men.
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.
The Consumer Price Index reports the price of gas skyrocketed nearly 60 percent over the last year – and it's of course far from the only commodity affected.
Inflation hit 9.1 percent over the year in June, which is the highest it has been since 1981.
While the Federal Reserve is trying to pump the brakes on inflation, Papa Willie's BBQ owner Brian Merel said it's already too late for his business.
We found premium gas in Chicago going for $7.29 a gallon on Thursday. That is a figure higher than the federal hourly minimum wage in a dozen states. CBS 2's Marissa Perlman reports.
Sharply higher prices for food, energy and other products are draining household budgets across the U.S.
From the gas pumps to the checkout counter, you don't have to look far to see the effects of inflation - it's the highest we've seen in four decades. On Tuesday, the CBS 2 Investigators asked - what are the solutions? CBS 2 Investigator Megan Hickey reports.
Inflation is the highest we have seen in four decades, and one does not have to look far for its impacts. The CBS 2 Investigators are asking, what are the solutions?
Inflation is the highest we have seen in four decades, and one does not have to look far for its impacts. CBS 2 Investigator Megan Hickey reports.
Federal prosecutors announced Wednesday that they have charged a registered nurse to giving counterfeit Ozempic to patients in Chicago.
Two teens stood charged Wednesday with carjacking a man at gunpoint in Chicago's Edgewater neighborhood this week, and one of them was also charged in two different robberies at CTA Red Line stops last year.
Illinois Secretary of State Alexi Giannoulias is announcing expanded hours for people to get a Real ID, ahead of a Feb. 1 deadline when the TSA will start charging travelers a $45 fee for travelers who don't have one.
U.S. Rep. Robin Kelly (D-Illinois) on Wednesday formally introduced three articles of impeachment against Homeland Security Secretary Kristi Noem.
Chicago Mayor Brandon Johnson held a roundtable discussion Wednesday morning with leaders within the Chicago Police Department and violence prevention partners.
U.S. Rep. Robin Kelly (D-Illinois) on Wednesday formally introduced three articles of impeachment against Homeland Security Secretary Kristi Noem.
Chicago Mayor Brandon Johnson held a roundtable discussion Wednesday morning with leaders within the Chicago Police Department and violence prevention partners.
It has been months since the Chicago City Council approved a plan to update the way a roughly two-mile stretch of Broadway in the Edgewater and Uptown neighborhoods is zoned.
Rick Garcia, a longtime Chicago LGBTQ+ activist and community leader who was at the forefront of many civil rights victories, died this week.
Republican Rep. James Comer of Kentucky, the committee's chairman, said the panel will move next week on holding them in contempt.
Police in the west Chicago suburb of Geneva are warning of a scam involving spoofed phone numbers.
Protesters on Tuesday were cranking up the heat on Peoples Gas over a recently proposed rate hike that would add an additional $10 to $11 a month to utility bills.
A lawsuit filed late last month took Chicago-based McDonald's to task over the McRib sandwich, calling its name a form of false advertising.
As this holiday season nears its end, Illinois Treasurer Alexi Giannoulias issued a warning Tuesday about text scams.
A new report shines a light on electricity shortages that Illinois could face in less than 10 years.
January is Radon Action Month, and the Cook County Department of Public Health is urging residents to test their homes for radon.
Severe flu season is sending many people to hospital emergency rooms across the country, including in the Chicago area.
Unionized health care workers this week took aim at Northwestern Medicine, saying the health care system needs to hire more people before expanding the emergency room at Northwestern Memorial Hospital.
The Illinois Department of Public Health announced Tuesday that its recommendations for childhood vaccines will not be affected by a change in federal guidelines.
The first pediatric flu death for this year's flu season has been reported, Illinois health officials said, as flu cases across the state continue to rise.
Does the Chicago Bears' dramatic improvement this season, culminating in their first playoff run in five years, change the discussion about where they will build a new stadium?
The Piggery, a popular barbecue restaurant and bar in the northwest corner of Chicago's Lakeview neighborhood, announced Thursday that it is going out of business.
The Lincolnwood Town Center mall in the north Chicago suburb of Lincolnwood has been sold to a developer, the village announced Wednesday.
They do say imitation is the sincerest form of flattery, but a longtime Chicago fried chicken institution said imitation went too far after a new business opened with a very similar name.
A lawsuit filed late last month took Chicago-based McDonald's to task over the McRib sandwich, calling its name a form of false advertising.
Scott Adams, the cartoonist who created the "Dilbert" comic strip, has died at the age of 68, his first ex-wife revealed on Tuesday.
Here is everything you need to know about how to watch and stream the 2026 Golden Globes.
Bob Weir wrote or co-wrote and sang lead vocals on Grateful Dead classics including "Sugar Magnolia," "One More Saturday Night" and "Mexicali Blues."
Chicago Theatre Week brings value-priced tickets for shows from Feb. 5 until Feb. 15 at Chicago's stage venues. Tickets can sell for $30, $15, or even less.
Isiah Whitlock Jr. is perhaps best known for his role as state Sen. R. Clayton "Clay" Davis on HBO's "The Wire."
Chief meteorologist Albert Ramon has the extended forecast.
2025 was the third hottest year on record for the planet, and now, a new report about the world’s warming temperatures says it could be serious for the years ahead.
President Trump has issued another strong warning to Iran, as the regime threatens capital punishment for people arrested during anti-government protest. Natalie Brand reports.
Illinois Secretary of State Alexi Giannoulias is announcing expanded hours for people to get a REAL ID, ahead of a Feb. 1 deadline when the TSA will start charging travelers a $45 fee if they haven’t upgraded to a REAL ID.
Chicago Mayor Brandon Johnson held a roundtable discussion Wednesday morning with leaders within the Chicago Police Department and violence prevention partners. Asal Rezaei reports.
U.S. Rep. Robin Kelly (D-Illinois) on Wednesday formally introduced three articles of impeachment against Homeland Security Secretary Kristi Noem.
Steve Buzil with SitClose Tickets was outside Soldier Field doing another media interview about ticket sales on Sunday when he came across Ruth and Mikey.
Chicago weather threw a curveball at morning commuters when a snow squall produced sudden white-outs, snarling traffic and creating dangerous conditions on highways.
Federal prosecutors announced Wednesday that they have charged a registered nurse to giving counterfeit Ozempic to patients in Chicago.
Two teens stood charged Wednesday with carjacking a man at gunpoint in Chicago's Edgewater neighborhood this week, and one of them was also charged in two different robberies at CTA Red Line stops last year.
Lead-based paint was banned for serious health reasons in 1978, but most homes built before then remain covered in it.
Fire department officials in Chicago's western suburbs said drone technology has been helping keep firefighters safe and make a major impact on public safety.
With the stores becoming a common target for thieves, some of the stores in the Chicago area are taking new steps to fight back.
As thousands of people are expected downtown for New Year's Eve celebrations, Mayor Johnson, the Chicago police, and the Office of Emergency Management and Communications are trying to get out ahead of any safety concerns.
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
Steve Buzil with SitClose Tickets was outside Soldier Field doing another media interview about ticket sales on Sunday when he came across Ruth and Mikey.
Ramova Theater in Bridgeport is setting up for a Bears vs. Rams watch party for thousands of fans Sunday.
The Chicago Bears are on a hot streak, which means fans looking for tickets to Sunday's playoffs game are a target for scammers and fraudsters.
Sports experts said there may be some advantages they have on their side to keep the playoff winning streak going.
Johnson made it clear that he didn't like the Packers in a locker room video following their Wild Card win.
Federal prosecutors announced Wednesday that they have charged a registered nurse to giving counterfeit Ozempic to patients in Chicago.
Two teens stood charged Wednesday with carjacking a man at gunpoint in Chicago's Edgewater neighborhood this week, and one of them was also charged in two different robberies at CTA Red Line stops last year.
Chicago Mayor Brandon Johnson held a roundtable discussion Wednesday morning with leaders within the Chicago Police Department and violence prevention partners.
A man was left in critical condition Tuesday morning after he was shot while driving in Chicago's Little Village neighborhood and went on to crash his car.
Adam Beckerink, the man charged with murder in the death of his estranged wife, Caitlin Tracey, must return to court later this week for a detention hearing after being extradited to Chicago.
