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.
A 7-year-old boy is dead and a 5-year-old is in critical condition after a three-vehicle crash Saturday afternoon.
Nikki Haley served as U.S. ambassador to the United Nations in his first term, and then ran against him for the Republican nomination this cycle.
The Michigan Wolverines couldn't overcome the defense of No. 8 Indiana in Saturday's 20-15 loss.
Police in Detroit are investigating after a 3-year-old girl was shot in the leg Saturday afternoon.
The Ambassador Bridge is fully open again after an investigation stopped traffic going into Canada for almost five hours Saturday, police say.
A federal jury awarded a $13 million verdict to a woman who sued Blue Cross Blue Shield of Michigan over the COVID-19 vaccine.
A 103-year-old woman is recovering after a buck broke into the assisted living facility she's living in.
A 7-year-old boy is dead and a 5-year-old is in critical condition after a three-vehicle crash Saturday afternoon.
Warren police responded to a report of shots fired in the 11000 block of Paige Avenue around 2:12 a.m. Friday.
Nikki Haley served as U.S. ambassador to the United Nations in his first term, and then ran against him for the Republican nomination this cycle.
Earlier this week, the automaker announced that it was indefinitely laying off 1,100 union-backed workers at its Toledo South Assembly Plant.
Stellantis, which owns brands like Chrysler, Dodge, Fiat, Jeep and Ram, says the job cuts are effective Jan. 5, 2025.
Shipments dropped by 20% to 1.2 million vehicles in the third quarter from 1.5 million a year earlier.
At a rally in Novi over the weekend, Former President Donald Trump promised to save the auto industry in Michigan, and to bring back manufacturing jobs to the state.
The company said after financial markets closed on Monday that it made $892 million from July through September, compared with $1.2 billion it made a year earlier.
Actor Tony Todd's TV and movie credits spanned 40 years and included the 1992 horror film "Candyman" and its 2021 sequel.
Detroit natives Eminem and Jack White have both been nominated for 2025 Grammy Awards, adding to their already impressive totals throughout the decades.
The nominations for the 67th Grammy Awards have been announced, and the nominees include a long list of top music stars.
Officials also said that Liam Payne died from a fall, and did not jump from the balcony of his hotel.
The mystery song is called "Subways of Your Mind," and was recorded by a little-known 1980s German band called FEX.
Nikki Haley served as U.S. ambassador to the United Nations in his first term, and then ran against him for the Republican nomination this cycle.
The Ambassador Bridge is fully open again after an investigation stopped traffic going into Canada for almost five hours Saturday, police say.
President-elect Donald Trump will meet with President Joe Biden on Wednesday after Trump defeated Kamala Harris in the race for U.S. president.
President-elect Trump will take office with Republicans in control of the Senate, making confirmations easier.
Actor Tony Todd's TV and movie credits spanned 40 years and included the 1992 horror film "Candyman" and its 2021 sequel.
Cheese processed at plant in Lena, Illinois, may be tainted by bacteria that can cause serious and fatal infections.
Doctors say that however you're feeling, now is an opportunity to take good care of yourself.
The FDA says oral phenylephrine, used in many over-the-counter cough and cold medicines, "is not effective as a nasal decongestant."
Struggling families pay as much as 60 cents per dollar in fees when paying for school lunches electronically, according to CFPB report.
Michigan health officials are warning residents about a rise in cases of pertussis, commonly known as whooping cough.
The Detroit Lions are off to their best start since 1956.
The Detroit Lions didn't acquire Za'Darius Smith to win just any game.
Dylan Larkin and Alex DeBrincat each had a goal and an assist, and the Detroit Red Wings beat the Chicago Blackhawks 4-1.
Brandon Miller scored off an offensive rebound at the buzzer to lift Charlotte Hornets to a dramatic 108-107 victory over the Detroit Pistons on Wednesday night.
The Detroit Lions have lived up to lofty expectations, looking like a Super Bowl contender.
In Michigan, the Democrats have control of the governor's mansion and both state houses.
In Michigan, the Democrats now have control of the governor's mansion and both state houses.
Both party chairs also talked about the ground game as each looks for independent voters and those who haven't voted in a while they hope to inspire to show up on Nov. 5.
Trump and Harris and their anointed representatives continue to make campaign stops in Detroit, Grand Rapids, Flint and other places in Michigan, a critical battleground state.
As Kamala Harris, Donald Trump, Tim Walz and JD Vance campaign in the Great Lakes States in rapid succession, the Michigan Matters roundtable weighs in on voters pollsters say are up for grabs in this critical swing state.
Top Trumps USA revealed Monopoly: Detroit Edition at the Detroit Historical Society on Friday.
The Detroit Lions (7-1) visit the Houston Texans (6-3) Sunday with a goal of continuing their best start since 1956 and their longest winning streak since 1995.
Dozens of cars stopped by St. Aidan’s Church in Ann Arbor Saturday to give away an unwanted gun.
President-elect Donald Trump is looking at some familiar names for key roles in his administration.
On Saturday, a rally was held to support Teamsters who have been on strike at Marathon Petroleum’s refinery in Detroit for eight weeks.