Fed Chair Jerome Powell signals path to rate cuts at Jackson Hole
Federal Reserve Chair Jerome Powell has been under pressure from President Trump to lower the central bank's benchmark interest rate.
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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 National Association of Realtors say high home prices and high mortgage interest rates are turning away potential buyers. Home prices have increased for 22 straight months, and interest rates are nearly 6.9%.
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.
The Federal Reserve on Wednesday moved to lower its benchmark rate by 0.25 percentage points, but said it plans fewer cuts in 2025.
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.
Federal Reserve Chair Powell, speaking at a conference in Jackson Hole, Wyoming, said the timing and pace of rate cuts will depend on economic data.
College students can expect some sticker shock as interest rates on federal student loans will increase on July 1.
Inflation is moving sideways, remaining above 3% for the first three months of 2024. Here's how that could impact your finances.
One Fed official on Thursday said if the economy continues to demonstrate strength, "Why would we cut rates?"
The Federal Reserve marked its first rate decision of 2024 by keeping its benchmark interest rate unchanged.
In the past year and a half, the Federal Reserve has increased interest rates to the highest level in 22 years in an attempt to ease inflation. The Fed is trying a new strategy. CBS News business analyst Jill Schlesinger reports.
City attorneys are recommending a $27 million settlement with the family of a woman who was killed in a crash with a car fleeing from Chicago police in a high-speed chase in 2017.
A man was shot and killed on the street in the midday hours Wednesday in Chicago's West Garfield Park neighborhood.
Undergraduates at the Northwestern University McCormick School of Engineering will be able to major in artificial intelligence starting in the fall.
The city of Aurora held another meeting to update residents on new proposed guidelines for data centers in the western suburb.
Illinois state Rep. Kam Buckner (D-Chicago) announced Wednesday that he has introduced legislation to rename part of Chicago's Dan Ryan Expressway in honor of the late Rev. Jesse Jackson.
Illinois state Rep. Kam Buckner (D-Chicago) announced Wednesday that he has introduced legislation to rename part of Chicago's Dan Ryan Expressway in honor of the late Rev. Jesse Jackson.
A former Illinois mayor who is the subject of a federal investigation has taken her political aspirations to the metro Atlanta area.
Mayor Brandon Johnson has called off – for now – a bid to impose new polling place protections in Chicago in an attempt to prohibit federal immigration agents from entering so-called "democracy zones" while voters are at the polls.
About 30 U.S. service members remained hospitalized Tuesday after an Iranian drone strike in Kuwait.
Officers normally assigned to process Global Entry travelers had been reassigned to process other arriving travelers during the pause.
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.
There's no relief in sight for drivers at the pump as the war in Iran is directly driving up the cost of gas. Analysts expect more of the same unless something changes soon.
Drivers in the Chicago area can expect to start paying more at the pump this week, as oil prices have spiked amid the U.S.-Israeli war on Iran.
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.
It has been nearly six years since the start of the COVID-19 pandemic, and one of the many questions doctors are still working to answer concerns the long-term effects.
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.
Capital One is laying off more than 1,100 workers at the former Discover headquarters in north suburban Riverwoods.
A new development at the southeast corner of Chicago's East Lakeview community would clear away a medical office building and replace it with a residential high-rise.
A play inspired by the story of Emmett Till has now been extended twice past its initial run at Collaboraction Theatre in Humboldt Park.
Jennifer Runyon, a Chicago native who became famous as an actress appearing in "Ghostbusters" and "Charles in Charge," died last week.
A woman was arrested on Sunday for firing multiple shots at the Beverly Hills home of Rihanna, Los Angeles Police Department officials say.
Actor and filmmaker Bruce Campbell told fans that he is in treatment for cancer and will cancel some upcoming public appearances.
Singer-songwriter Neil Sedaka, known for his hits like "Laughter in the Rain," "Breaking Up is Hard to Do" and "Calendar Girl," has died.
A father and son are trying to bridge divides between faiths through their baking skills.
Residents are dealing with extensive damage and power outages after four suspected tornadoes touched down across Illinois and Northwest Indiana during severe storms on Tuesday night. Families share stories of survival as they check on their neighborhoods.
CVS plans to roll out a new digital platform powered by artificial intelligence. Google Cloud is teaming up with CVS for the free service, called Health 100.
Costco says a new partnership will allow members to buy certain fertility drugs at deeply discounted prices.
Cook County is taking steps to help more students from underserved communities grow into healthcare professionals.
The National Weather Service so far has confirmed an EF-1 touchdown in Jasper County, Indiana.
Trump says he'll end the war soon, when he wants to, as Iran hits 3 ships near the Strait of Hormuz and warns U.S.-linked banks will be next.
City attorneys are recommending a $27 million settlement with the family of a woman who was killed in a crash with a car fleeing from Chicago police in a high-speed chase in 2017.
A man was shot and killed on the street in the midday hours Wednesday in Chicago's West Garfield Park neighborhood.
Undergraduates at the Northwestern University McCormick School of Engineering will be able to major in artificial intelligence starting in the fall.
A Chicago senior citizen said his phone has been ringing off the hook with hundreds of unwanted spam calls that have made his beloved landline virtually unusable. New efforts in Springfield could bring real relief.
A proposed Illinois law hopes to create more oversight on private companies to protect consumers from skyrocketing utility prices.
The three women said they are working to make their way back home, but without any help from the U.S. State Department.
If you feel like you're drowning in a sea of text alerts and desperate email pleas for "just $5" this election season, you are far from alone.
A north suburban school bus driver became a victim of sophisticated scammers who are targeting more people and more vulnerable populations to make more money.
Chicago's Jalen Smith converted two free throws with 1.4 seconds left in regulation to send the game into OT, and Tre Jones contributed 22 points for the Bulls
The Detroit Lions are losing another player, this time it's wide receiver Kalif Raymond, who is reportedly heading to the Chicago Bears.
Chicago, which had lost three in a row, including a 4-3 setback to Dallas on Sunday night, has now won all three meetings with Utah this season, with the teams' fourth and final game of the season scheduled for Thursday night.
The Chicago Bears have been busy bolstering their defense on the first day of free agency, signing linebacker Devin Bush Jr., safety Coby Bryant, and defensive tackle Neville Gallimore, according to reports.
Sacramento outscored the Bulls 68-36 in the paint.
A man was shot and killed on the street in the midday hours Wednesday in Chicago's West Garfield Park neighborhood.
Park rangers cited the four visitors, all from Illinois, for collecting and defacing park resources.
A woman has been charged in a road rage shooting that left someone injured this past weekend on the Dan Ryan Expressway.
A Lake County judge ordered a Fox Lake woman to remain behind bars on Tuesday, following her arrest on charges accusing her of abusing her 11-year-old son for years.
A 75-year-old man was due for a detention hearing Tuesday in a shooting that killed two women, ages 68 and 71, on Chicago's Far South Side this past weekend.
