Federal reserve issues first rate cut since December 2024
The reduction means it's slightly cheaper to borrow money, bringing down rates for credit card interest and car loans. The long-awaited move follows continued warning signs about hiring.
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The reduction means it's slightly cheaper to borrow money, bringing down rates for credit card interest and car loans. The long-awaited move follows continued warning signs about hiring.
The Trump administration's tariffs are slowly rippling through the economy and starting to push up prices for some products, government data shows.
The Supreme Court on Tuesday said it will decide whether President Trump can impose his most sweeping tariffs.
The U.S. government could have to refund domestic businesses billions in tariffs, should the Supreme Court uphold a recent federal appeals court ruling.
It has allowed goods worth less than $800 to enter the U.S. duty-free since 2016. However, gifts and personal items under $100 will still be exempt.
Trump's tariffs may hit your wallet harder after Friday, when the de minimis exemption expires. Some shipping services have already stopped shipping to the U.S.
The producer price index, or PPI, surged last month, far outpacing economists' forecasts and suggesting that President Trump's tariffs are starting to significantly drive up the cost of imported goods.
Americans are reining in their spending at fast-food restaurants as they continue to face economic uncertainty.
The inflation rate was cooler than expected, with July's CPI rising 2.7% on an annual basis.
Economists caution new tariffs could pose economic risks, but the White House says growth is rebounding amid low inflation.
President Trump officially began levying higher import taxes on dozens of countries Thursday, just as the economic fallout of his months-long tariffs threats begins to create visible damage to the U.S. economy.
The U.S. officially began levying higher tariffs on dozens of countries, just as the economic fallout of President Trump's months-long tariffs threats was beginning to create visible damage to the U.S. economy.
On July 27, Ursula von der Leyen, the president of the European Commission and President Trump agreed to a deal that included a 15% tariff on most goods from the EU.
CBS News is tracking the rising cost of products most impacted by tariffs already imposed and new ones announced by President Trump, from grocery items to cars and trucks.
Hiring across the U.S. was weaker than expected in July, a sign the labor market is shifting into lower gear.
Higher tariffs will be imposed on more than 60 U.S. trading partners starting next week as the Trump administration passed their self-imposed deadline.
President Trump said he's giving Mexico an additional 90 days to strike a trade deal the day before the Aug. 1 deadline he set to impose 30% tariffs on imports from the country.
Opening arguments start Thursday in a federal case that could upend President Trump's signature trade policy.
Parents have started back-to-school shopping extra early this year, trying to get supplies before prices go up from Trump's tariffs.
President Trump said he's considering using money generated by U.S. tariffs to offer a "little rebate" to Americans.
More than 65 toymakers showed off new creations at the Toy Insider's Sweet Suite event. With this year's new tariffs, Hasbro's CEO said toy prices in the U.S. could rise later this year.
The Consumer Price Index in June rose 2.7% on an annual basis, in line with economists' predictions.
The president has threatened to impose 100% tariffs on countries that buy oil and gas from Russia, including China and Brazil, if a peace deal to end the war with Ukraine is not reached within the next seven weeks.
President Trump said Monday that the U.S. will impose 100% tariffs on countries that do business with Russia if there is no peace deal to end the war in Ukraine within 50 days.
During a meeting Monday morning with the NATO secretary-general, the president gave Russian President Vladimir Putin 50 days to cut a peace deal.
A series of memorial services will begin on Thursday to honor the late Reverend Jesse Jackson.
Both couples are still actively fighting for their kids, knowing it will be a long and complicated road.
The old Mars/Wrigley factory, which sat next to the Metra tracks, has been a staple of the Galewood community for decades.
Four people were injured following a mass shooting at a gas station in the Woodlawn neighborhood on Wednesday evening.
Northfield police announced that David Garcia-Espinal, 46, was found and arrested in Los Angeles, California, on Feb. 19.
With 20 days until the primary election, the gloves are off in the race for Cook County Board President, pitting two political heavyweights against each other in the Democratic primary.
Federal immigration agents arrested 261 DACA recipients during the first 10 months of the second Trump administration, according to statistics shared with Congress.
Former Treasury Secretary Larry Summers will resign from his remaining roles at Harvard over his ties to Jeffrey Epstein, the university confirmed to CBS News.
CBS News fact checked President Trump's 2026 State of the Union address, and Virginia Gov. Abigail Spanberger's Democratic response.
The company behind delays in Cook County property tax bills and refunds has sent a letter to Cook County Treasurer Maria Pappas, refusing to work directly with her any longer, accusing her of using foul language and bullying their team.
This is after Mayor Brandon Johnson vetoed an ordinance that would have banned most hemp-derived products this weekend.
This week marks Identity Theft Awareness Week, and Illinois Comptroller Susana Mendoza emphasized some safety tips Monday for avoiding and dealing with identity theft.
A controversial data center in Naperville, Illinois, could be the cause to pack a city council meeting there on Tuesday night.
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.
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.
Leaders from Cook County, the Illinois Department of Human Services, and the Greater Chicago Food Depository denounced changes to the Supplemental Nutrition Assistance Program on Wednesday.
The University of Chicago Medicine Comprehensive Cancer Center has received a grant from The Ralph Lauren Corporate Foundation for a new cancer center.
Chicago's Lurie Children's Hospital said Tuesday that it is no longer initiating gender-affirming medical treatment for minors.
Not one, but two hotels are now planned or proposed for Chicago's Northalsted LGBTQ+ nightlife district.
After the Double Door closed in Wicker Park, there was reassurance that the Double Door would return, at a new location in the city's Uptown neighborhood. Now that is not happening anymore.
Barnes & Noble was set to reopen in Skokie on Wednesday, just weeks after it closed.
Trader Joe's is opening a new location in Chicago's Logan Square neighborhood.
The district laid out a $630 million plan to remake Soldier Field into a major concert venue and events space.
After the Double Door closed in Wicker Park, there was reassurance that the Double Door would return, at a new location in the city's Uptown neighborhood. Now that is not happening anymore.
The Rock & Roll Hall of Fame has announced its 2026 list of nominees, including Phil Collins, Mariah Carey, Wu-Tang Clan and more.
Nick Reiner, 32, was charged with two counts of murder in the killing of his parents, Rob Reiner and Michele Singer Reiner.
"Jersey Shore" star Nicole "Snooki" Polizzi said in a TikTok video that her results at a post-op appointment for a cone biopsy showed stage 1 cervical cancer.
Garth Brooks, Ed Sheeran, Post Malone and Jelly Roll are among the artists headlining in the 2026 SummerFest in Milwaukee this summer.
Four people were injured following a mass shooting at a gas station in the Woodlawn neighborhood on Wednesday evening.
Meteorologist Laura Bannon has the extended forecast.
A series of memorial services begin on Thursday for Rev. Jesse Jackson.
Two couples said they are still fighting to get their children back after they were taken from them just hours after their birth.
Their list contains some amenities like a library, a grocery store, restaurants, a job training center, and a sports complex, but no housing.
A series of memorial services will begin on Thursday to honor the late Reverend Jesse Jackson.
Four people were injured following a mass shooting at a gas station in the Woodlawn neighborhood on Wednesday evening.
Northfield police announced that David Garcia-Espinal, 46, was found and arrested in Los Angeles, California, on Feb. 19.
Both couples are still actively fighting for their kids, knowing it will be a long and complicated road.
Cynthia Eason testified that SWAT officers pointed guns at her, her daughter, and her four grandchildren in 2018 after raiding the wrong home.
Both couples are still actively fighting for their kids, knowing it will be a long and complicated road.
The mother of an 8-year-old boy who was allegedly put in a chokehold and dragged by the neck by a Chicago Public Schools employee hopes her lawsuit and choice to speak out will help protect students in the future.
A jury on Wednesday awarded $5.74 million in damages to a Chicago family who accused police of violating their civil rights in a botched raid of their home in 2018.
The company behind delays in Cook County property tax bills and refunds has sent a letter to Cook County Treasurer Maria Pappas, refusing to work directly with her any longer, accusing her of using foul language and bullying their team.
A family-owned toy company in north suburban Vernon Hills played a pivotal role in the surprise Supreme Court ruling Friday that struck down most of President Trump's tariffs.
The Hornetts handed the Bulls a 10th straight loss, matching their longest slide since January 2019.
The Bears have not received compensatory third-round picks via the NFL's reward for developing minority front office candidates.
While Poles considers his best options to put a roster together for next season, he also has to have future seasons in mind, especially with Caleb Williams still on his rookie contract.
Eight Cubs players and four White Sox players will be leaving spring training to play in the World Baseball Classic.
American skier Lindsey Vonn, who crashed seconds into her downhill race at the 2026 Winter Olympics, said she is finally out of the hospital as she recovers.
A man was wounded in a shooting on Wednesday afternoon at a McDonald's in the Back of the Yard neighborhood on the South Side of Chicago.
Police in the Poconos region of Pennsylvania are looking for a man who they say set multiple fires to deal with spiders.
A judge ordered a woman detained until trial in the deadly carjacking of an Uber Eats driver on Chicago's West Side.
Tommy Schaefer was sentenced for the 2014 murder of Sheila von Wiese-Mack, the mother of Heather Mack, during a luxury vacation.
Two employees of a Des Plaines, Illinois daycare center stood charged Tuesday with battering children.
