Here's what the Fed's interest rate pause means for your money
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
The president spoke less than 24 hours after the Senate approved the agreement in a bipartisan vote.
The legislation now goes to President Biden's desk, pulling the nation back from the brink of a financial crisis.
A majority of Democrats and a majority of Republicans voted in favor of the Fiscal Responsibility Act.
Rep. Thomas Massie broke with two other conservatives on the House Rules Committee to advance the legislation to the House floor.
The debt ceiling deal includes a provision to end the pandemic-related federal student loan payment pause
The House passed the bill to raise the debt ceiling Wednesday. Now, the Senate will take it up.
The debt ceiling deal has cleared both chambers of Congress and is headed to the president's desk.
After days of intense negotiations and weeks of talks, an agreement in principle has been reached to raise the debt ceiling.
Time is running short for House Republicans and the White House to reach an agreement on the debt ceiling to avoid default.
Everything from the stock market to Social Security payments could be jolted if the U.S. defaults on its obligations.
Even a short default could wipe out more than a million jobs, especially in parts of the U.S. that depend on federal spending.
"It's hard to overstate how bad it would be," one expert said. Everything from Social Security payments to your retirement fund could get hit.
Millions of Social Security recipients "need to be very careful" about spending because payments could be delayed, one expert said.
"No one should assume that the Fed can… really protect the economy and the financial system, and our reputation globally, from the damage such an event might inflict," Federal Reserve Chairman Jerome Powell said.
The U.S. may be unable to pay its bills within weeks if Congress does not raise or suspend the debt ceiling.
The treasury secretary moved up her estimate of when the U.S. risks defaulting on its debt.
The fight over the nation's debt limit could have very real implications on everything from your 401(k) to Social Security.
The federal government caps the amount of money it can borrow. But what are the risks if Congress fails to lift the debt limit?
Without congressional action, the U.S. could default as soon as June, she wrote in a letter Friday.
Bernanke says it's very important that Congress raise the debt ceiling so the government can pay its bills.
Grover is the ultimate in single interest constituencies in Washington. He is not accountable to anybody. He does not disclose who funds him, who pays him to do what he does or how much he is paid to blackmail GOP Members of Congress to sign his pledge not to raise taxes.
The debate over raising the debt limit is back, as House Republicans vote on a measure to block the increase on Wednesday.
President Obama signed a bill to raise the nation's borrowing limit on Tuesday, just hours after the Senate voted 74-26 in favor of the deal that will cut government spending by trillions and effectively raise the debt ceiling through the end of 2012.
Congress could vote today on a deal to avoid the first ever government default in U.S. history.
More victims of a fatal crash at the Swan Boat Club in Monroe County that killed two children have joined a lawsuit against the driver and the bar where she was allegedly served drinks beforehand.
The Federal Emergency Management Agency says Metro Detroit residents who were impacted by the severe storm in August 2023 have one more week to apply for federal assistance.
Police are investigating after two adults and two kids were injured in a shooting Wednesday night at a park in Detroit.
Short-term rentals in Michigan could soon be subject to an additional tax and more regulations, a move supporters say will help offset the costs to municipalities. However, opponents say it could have a negative impact on our tourism.
A man was seriously injured on Wednesday after an explosion inside his home in Sterling Heights.
More victims of a fatal crash at the Swan Boat Club in Monroe County that killed two children have joined a lawsuit against the driver and the bar where she was allegedly served drinks beforehand.
The Federal Emergency Management Agency says Metro Detroit residents who were impacted by the severe storm in August 2023 have one more week to apply for federal assistance.
Wednesday's visit is Trump's third to Michigan this year and his first since speaking in Grand Rapids on April 2.
Police are investigating after two adults and two kids were injured in a shooting Wednesday night at a park in Detroit.
Short-term rentals in Michigan could soon be subject to an additional tax and more regulations, a move supporters say will help offset the costs to municipalities. However, opponents say it could have a negative impact on our tourism.
Members of UAW Local 869 are scheduled to vote on May 6 over safety concerns at the plant.
Technology originally developed for homeland security is now available in Michigan to inspect every inch of your car. Developers say UVeye is like getting an MRI for your vehicle.
A bill introduced to the Michigan Legislature is looking to decrease noise pollution around Metro Detroit, more particularly along Woodward Avenue.
Ford Motor Co.'s first-quarter net income fell 24% from a year ago as the company's combustion engine vehicle unit saw revenue and sales decline.
Jeep maker Stellantis is planning to lay off an unspecified number of workers at its U.S. factories in the coming months to deal with a rapidly changing global auto market, the company said Tuesday.
Here's how you can snag $25 tickets to concerts heading to Metro Detroit this year.
See who's nominated for the 77th annual Tony Awards. The Tonys will air live on CBS and Paramount+ on Sunday, June 16.
Paramount said long-time CEO Bob Bakish will leave the company, which is in discussions to explore a sale or merger.
The vinyl sales alone were monumental, Billboard said, with "the largest sales week for an album on vinyl in the modern era."
NFL Commissioner Roger Goodell announced that more than 275,000 fans attended the first day on Thursday, according to a spokesperson.
The USDA tested 30 samples from states with herds infected by H5N1.
"It's like trying to send a rocket to the moon in 1910 when the Wright Brothers were still working on their planes," one expert said.
After UCLA declared a pro-Palestinian encampment unlawful, a clash between dozens of protesters and counter-protesters led to one person being driven away in an ambulance. The victim's injuries were unclear.
Police ended pro-Palestinian protesters' occupation of a Columbia University building but violence erupted at UCLA and the University of Arizona as schools stepped up efforts to end demonstrations.
Friends will soon be able to bet against each other on who will win Skee-Ball.
The Washtenaw County Health Department says the bat was found in the 48108 zip code.
In a neighborhood longing for access to nutritious foods, customers and staff couldn't contain their excitement as the doors finally opened Wednesday at the Detroit People's Food Co-Op.
USDA says the U.S. meat supply is safe, and reiterates that people should cook beef to kill bacteria and viruses.
Dutch medical device maker Philips says it's reached a $1.1 billion deal in the United States to settle lawsuits over faulty sleep machines in a case that's rocked the company.
Around 1 in 5 retail milk samples had tested positive for the bird flu virus, but further tests show it was not infectious.
The game between the Detroit Tigers and St. Louis Cardinals has been postposed Monday night because of inclement weather.
A Royal Oak catering company secured the contract to help feed the draft workers.
The NFL draft enabled the Detroit Lions to turn a potential weakness into a strength by selecting cornerbacks with their first two picks.
Gabby Douglas qualified in multiple events for the U.S. Championships in Fort Worth, Texas, next month.
The scratch changed the post positions for over half the field in Saturday's Kentucky Derby.
By the time this presidential race is over, Biden, Trump and their entourages may not need Michigan driver's licenses, but they'll know their way around and where the orange barrel construction zones are enough to void them on their way to campaign events.
The Motor City is putting the final touches in place for the 2024 NFL Draft as it rolls into Detroit next week.
Michael Bickers, Regional President of PNC Southeast Michigan/Detroit, and Eric Poe, CEO of CURE Auto Insurance, appeared on CBS Detroit's Michigan Matters.
Businesses across Michigan are feeling optimistic about the future after weathering the historic 100-year health pandemic that impacted every company in one way or another.
Three leaders talked about how the region is doing to help people deal with mental health issues.
More victims of a fatal crash at the Swan Boat Club in Monroe County that killed two children have joined a lawsuit against the driver and the bar where she was allegedly served drinks beforehand.
If you haven't already applied for federal assistance following an August 2023 severe storm in Southeast Michigan, the Federal Emergency Management Agency says you have one more week to do so.
Short-term rentals in Michigan could soon be subject to an additional tax and more regulations, a move supporters say will help offset the costs to municipalities. However, opponents say it could have a negative impact on our tourism.
As we move further into the spring, allergies can affect your hearing. Daniel Adams-Arman, a hearing specialist with HearUSA Ann Arbor, breaks down the relationship between the two.
Showers and a few storms arrive on Friday with temperatures staying warm.