What to expect as Kevin Warsh leads his first Fed interest rate meeting
New Fed Chairman Kevin Warsh is stepping in at a critical juncture for the U.S. economy, with inflation at its highest level in more than three years.
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New Fed Chairman Kevin Warsh is stepping in at a critical juncture for the U.S. economy, with inflation at its highest level in more than three years.
The policy meeting comes after the government said inflation had risen to a three-year high. As CBS News Business Analyst Jill Schlesinger explains, the Federal Reserve is expected to keep interest rates stable.
Fed officials are grappling with a host of economic challenges, from stubborn inflation to a slowing job market.
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.
The suspect is facing multiple felony charges, including first-degree murder and aggravated unlawful possession of a weapon.
He says that, though his career ended early, coaching was a way to stay involved.
Inbound lanes of the Kennedy Expressway are partially blocked by hanging metal after a three-vehicle crash, state police said.
Some customers in the area are still without power from the June 11 storms.
Five years after Chicago police officer Ella French was shot and killed in the line of duty, the Civilian Office of Police Accountability released body camera footage showing the late officer's final moments.
The Chicago City Council on Wednesday approved a plan to buy the city's Greyhound bus station in the West Loop to avoid its possible closure.
Lawmakers have a busy summer of negotiations ahead of them with pressure from both the governor's office and their constituents to craft data center regulations that stakeholders and legislators can live with.
The agreement, as read by senior U.S. officials, allows Iran to immediately begin exporting oil and petroleum products.
After more than a decade since it was announced, the Obama Presidential Center and Library officially opens to the public in Chicago's Jackson Park on June 19, 2026.
Lawyers for the "Broadview Six" are trying to uncover communication between the White House and Chicago U.S. Attorney's Office regarding prosecutorial misconduct in their now-dismissed case.
An Illinois law banning "swipe fees" on taxes and tips — already delayed twice by lawmakers — appears to be on life support after a federal judge that once permitted it issued a permanent injunction against it this week.
A new study from the Cook County Treasurer's office underlines growing concerns about the impact the Illinois megaprojects bill could have on the county's property tax base and overall fiscal health.
As thousands of Chicagoans wrap up road trips over the Memorial Day holiday weekend, gas prices in the city have reached the highest levels seen in four years.
Consumer and environmental advocates said Monday that they found overcharges buried in the most recent rate-hike request by Nicor.
One week away from Memorial Day weekend and the unofficial start of the summer travel season, with gas prices remaining high, negotiations were set to resume Monday at the largest oil refinery in the Midwest.
After Bruce Willis was diagnosed with dementia, his wife Emma Heming Willis found a new purpose as a health advocate.
The North Shore suburb of Wilmette this week became the latest Chicago-area municipality to discover mosquitoes carrying the West Nile virus this year.
Dr. Peter Stafford was working with a missionary group in the Congo when he came down with the virus last month.
While 330 Ebola infections are confirmed in central Africa and huge challenges remain, hundreds more suspected cases "have been cleared out," the WHO says.
June is World Infertility Awareness Month, and Northwestern Medicine on Monday shared the story of a woman who is celebrating the birth of her second child after a tumor disrupted her fertility.
Daley's Restaurant, known as Chicago's oldest, has served Chicago's Woodlawn neighborhood for more than 130 years.
Walgreens is set to close in Chicago's Chatham neighborhood on Thursday, and there's growing concern about where families will get their medications.
The owners of Gene & Georgetti steakhouse are suing a concessions operator over their expansion at Midway International Airport.
DraftKings announced Monday that it is closing its sportsbook operation at Wrigley Field after only about two years.
After more than 80 years, there will be no Ann Sather restaurant location in the 900 block of West Belmont Avenue in Chicago's Lakeview community, effective in June.
Tom Dreesen, a pioneering actor and comedian and Chicago-area native, died Wednesday.
Luke Skywalker's lightsaber from the "Star Wars" sequel "The Empire Strikes Back" is expected to sell for at least $1 million at an upcoming auction.
Rio de Janeiro's Military Fire Department said one of the helicopters crashed in the parking lot of a car dealership, where several electric vehicles were parked, igniting a fire.
Actress Sarah Jessica Parker addressed the Class of 2026 at Northwestern University at their commencement ceremony at the United Center Sunday.
Forty years ago last weekend, crowds turned out for the Chicago Blues Festival — an event studded with a roster of stars for a spectacle that's still talked about today.
The Chicago Piping Plovers announced a contest on social media to name the offspring of Imani and Sea Rocket. They're looking for names that reflect Chicago's "heritage, culture and diversity.”
The rock musician from Maywood played saxophone, flute, clarinet, and guitar. Variety says he had been suffering from Alzheimer's disease for years.
The family of a man who was shot and killed by police in Elk Grove Village back in 2023 has won a $10.5 million settlement, attorneys announced Wednesday.
Chief Meteorologist Albert Ramon is tracking the latest in First Alert Weather.
The Trump administration on Wednesday released the 14-point memorandum of understanding to end the war between the U.S. and Iran.
Five years after Chicago police officer Ella French was shot and killed in the line of duty, COPA released bodycam footage showing the late officer's final moments.
The suspect is facing multiple felony charges, including first-degree murder and aggravated unlawful possession of a weapon.
Flooding is now the greatest widespread threat from two rounds of strong storms that will move through the Chicago area Wednesday.
Inbound lanes of the Kennedy Expressway are partially blocked by hanging metal after a three-vehicle crash, state police said.
Some customers in the area are still without power from the June 11 storms.
Kindbody entered into an agreement with a cryogenic storage facility in Massachusetts, but not all patients received the email.
A Chicago woman says a life insurance policy she paid into for 25 years was cancelled over a $112 shortfall that she never knew existed, and now, at 82 years old, she's uninsurable.
The Crisis Alternative Response Evanston, or CARE, team responds to calls that, before July 2024, would have been lumped into police calls.
The system will provide all heating, cooling, and ventilation for the high school's new physical education facilities and contribute to the school system, saving the district nearly $400,000 a year.
The forecast for a summer reopening of West Suburban Medical Center in Oak Park is growing cloudy, as negotiations continue between the owners and landlord, after the safety net hospital abruptly shuttered its doors in March.
He says that, though his career ended early, coaching was a way to stay involved.
The three-game series wraps up Wednesday with Rockies LHP Sean Sullivan facing Cubs RHP Javier Assad.
Spencer Jones homered in the second inning, Ben Rice and Paul Goldschmidt each added a two-run drive in the fourth, and the Yankees rocked the White Sox 12-2 on Tuesday night.
Former NHL player Kyle Calder has died at age 47. The Alberta native spent a majority of his 10 years in the league with Chicago and also played for Philadelphia, Detroit, Los Angeles and Anaheim.
The Chicago Bulls have officially named Tiago Splitter as their new head coach.
A sport-utility vehicle rammed into a Shell gas station mini mart in what was believed to be an attempted crash-and-grab burglary in Chicago's East Pilsen neighborhood.
Luigi Mangione's lawyers will argue that he was suffering from an extreme emotional disturbance when he allegedly killed UnitedHealthcare CEO Brian Thompson.
Rex Heuermann was sentenced to life in prison without the possibility of parole for the series of murders known as the Gilgo Beach serial killings.
A man from Chicago's south suburbs was sentenced to more than 33 years in prison last week for running an online chat group that trafficked in child pornography.
Chicago police on Tuesday released surveillance images of three attackers who they say beat a man on a downtown CTA Blue Line platform last week.
