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Investors are panicked over banks. Will the Fed make things worse?
Inflation's still high, but analysts warn that further rate hikes from the Fed could lead more more banks to topple.
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Inflation's still high, but analysts warn that further rate hikes from the Fed could lead more more banks to topple.
The government said Wednesday that retail sales slipped 0.4% after jumping a revised 3.2% in January, helped by an increase in auto sales.
All deposit accounts at Silicon Valley Bank and Signature Bank in New York will be guaranteed, the Federal Reserve, Treasury Dept. and FDIC said in a joint statement.
U.S. employers posted 10.8 million job openings in January, indicating the American job market continues to run too hot for the inflation fighters at the Federal Reserve.
As the spring homebuying season approaches, affordability is at its lowest point in history, one economist said.
Amid a growing jobs gap, companies like DTE are teaming up to help the cause. Hear from Jerry Norcia - president/CEO of DTE Energy, Nicole Sherard-Freeman, group executive of City of Detroit's Job and Economy Team, Portia Roberson, CEO of Focus: HOPE, and James Shaw of IBEW Local 17 as they discuss one new program and, the overall jobs picture.
The U.S. economy expanded at a 2.7% annual rate from October through December, a solid showing despite rising interest rates and elevated inflation, the government said Thursday in a downgrade from its initial estimate.
Home Depot marked one of the S&P's larger losses despite reporting stronger profit than expected for end of 2022.
The Conference Board's consumer confidence index — a closely watched metric gauging attitudes about the current and future strength of the economy — measured 107.1 in January, according to data released Tuesday by the business think tank.
U.S. economy grew at 2.9% rate in last three months of year despite pressure of high rates and fears of recession.
The fight over the nation's debt limit could have very real implications on everything from your 401(k) to Social Security.
Should Fed's rate hikes cause a recession, a jump in layoffs and unemployment claims would be an early sign.
Each week brings head-scratching contradictory news about the economy. This past week was no different, with a batch of economic reports showing that — despite the recession talk — the US economy shows remarkable resilience.
Inflation dropped to still-high 6%, likely bolstering Fed's resolve to keep raising interest rates well into 2023.
The House vote to impose a contract brokered by the White House but rejected by some workers was 290 to 137.
It's estimated more gift buyers are likely to shop on Small Business Saturday than Black Friday this year.
Heading into the all-important holiday shopping season, American consumers still aren't feeling very confident about the state of the US economy.
Wall Street was betting on a red wave in the midterm elections Tuesday. But so far it appears that didn't happen.
Inflation? High gas prices? American gamblers are shrugging them off — and losing money at casinos at a record pace.
A measure of inflation that is closely monitored by the Federal Reserve remained painfully high last month, the latest sign that prices for most goods and services in the United States are still rising steadily.
Fresh from Tuesday's primary where the stage for November's election is now set, top leaders of the state's Democratic and Republican Parties appear on CBS 62's "Michigan Matters" to talk about the road ahead and some heated races coming up in November.
Gov. Gretchen Whitmer talked about her plans to fix the state's ailing roads, the pandemic and politics on "Michigan Matters" airing 8am Sunday on CBS 62.
The funds will be spent on helping families with quality childcare and children's savings accounts.
As the pandemic winds down, an offshoot has been a growing jobs gap particularly in the skilled trades, which is why CBS 62's "Michigan Matters" is taking a look this Sunday at 7:30 a.m. at one unique program to train more tree trimmers.
Gov. Gretchen Whitmer discusses the dizzying issues that arose this year including the pandemic, economic fallout, and a heated election on CBS 62's "Michigan Matters."
Donald Trump is courting Black voters and a conservative group popular with white supremacists during back-to-back stops in Michigan.
Sean "Diddy" Combs was given a key to the city in a Times Square ceremony last year. This week, he honored a request from Mayor Eric Adams that he return it.
The suspect was later found dead by suicide following a standoff at a home in a nearby community, officials said.
Detroit City FC is looking to take a massive step toward its first-ever playoff berth for a women's team.
Detroit City FC returns to Keyworth Stadium this Saturday after a four-game road trip to face off against the 2023 Eastern Conference Champions Charleston Battery.
The suspect was later found dead by suicide following a standoff at a nearby home, officials said.
DTE Energy says there are a few things you can do to keep yourself and your home on the cool side.
A Detroit man and two other people left a restaurant without paying for their food, but a cell phone was left and the man was arrested after he returned to the restaurant.
Donald Trump is courting Black voters and a conservative group popular with white supremacists during back-to-back stops in Michigan.
Sean "Diddy" Combs was given a key to the city in a Times Square ceremony last year. This week, he honored a request from Mayor Eric Adams that he return it.
The board of General Motors approved another $6 billion share repurchase as the Detroit automaker continues to build momentum in 2024.
United Auto Workers union President Shawn Fain and other union leaders are under investigation by a federal court-appointed monitor, according to a court filing.
Stellantis-owned Chrysler is recalling more than 211,000 SUVs and pickup trucks in the U.S., due to a software malfunction that could disable the cars' electronic stability control systems.
According to officials, users don't have to be a resident of the community to participate in the carshare program, which can be reserved through an app.
Starting at $54,000, the 300-horsepower vehicle with standard supercruise and high-end audio equipment is up for purchase late this year.
Sean "Diddy" Combs was given a key to the city in a Times Square ceremony last year. This week, he honored a request from Mayor Eric Adams that he return it.
Kensington Palace releases a new photo of Kate as the Princess of Wales offers an update on her cancer treatment and announces a step back into public life.
Taylor Swift's long-running and history-making Eras Tour is coming to an end at the end of the year.
Presented by Bank of Ann Arbor, it's a summer tradition that's marking its 17th year in the city.
Alexander Morris, the lead singer of the Four Tops, filed a lawsuit against a Michigan hospital, a nurse and security guard after he was treated like he was mentally ill after he told them he was in the legendary Motown group.
A heat wave will bring dangerously hot temperatures to the Midwest and Northeast next week.
The Hall of Fame player has been the last 24 years working as a studio analyst for TNT and on Friday he announced that next season will be his last on TV.
An experiment found "small but detectable" amounts of infectious H5N1 virus in milk after it was pasteurized for 15 seconds.
The Supreme Court ruled 6-3 that the Bureau of Alcohol, Tobacco, Firearms and Explosives exceeded its authority when it issued the rule outlawing bump stocks.
A housing shortage in Texas and minimum wage increases elsewhere are fueling higher than average inflation in some cities.
Corktown Health plans to open its second facility in Hazel Park on John R. Road, north of Woodward Heights Boulevard.
The Washtenaw County Health Department had reported 21 cases of whooping cough this year as of June, an increase from the previous three years, according to a report released on Thursday.
An experiment found "small but detectable" amounts of infectious H5N1 virus in milk after it was pasteurized for 15 seconds.
Health officials said hikers should take extra precautions to prevent the spread of illness, including filtering water.
Michigan's largest insurance company said it will begin eliminating coverage of various weight loss drugs next year.
Detroit City FC is looking to take a massive step toward its first-ever playoff berth for a women's team.
Detroit City FC returns to Keyworth Stadium this Saturday after a four-game road trip to face off against the 2023 Eastern Conference Champions Charleston Battery.
The Hall of Fame player has been the last 24 years working as a studio analyst for TNT and on Friday he announced that next season will be his last on TV.
Abby Tamer, an athlete at the University of Michigan, was selected for the 2024 U.S. Olympic women's field hockey team.
Concordia University announced that all athletic programs at its Ann Arbor campus will be discontinued after the 2024-25 school year.
U.S. Rep. Shri Thanedar appears on CBS Detroit's Michigan Matters and talks about the mental health crisis impacting the nation, the fallout of the war in Gaza and his re-election campaign.
Lisa Ford appears on CBS Detroit's Michigan Matters and talks about Michigan Central Station, which her husband, Bill Ford, Executive Chair of Ford Motor Co., decided to bring back to life in 2018.
Hoekstra, who was endorsed by Trump for the Republican leadership position in February over incumbent Kristina Koramo, talked about the faction of the party still loyal to her.
Bud Denker, chairman of the Detroit Grand Prix, appears and talks about the upcoming race later this month, which will mark its second year on the streets of downtown Detroit.
The winner of the Republican and Democratic August primaries will face off in the general election.
Happy Father's Day! We will see mostly sunny skies with high temperatures in the 80s.
The 42-year-old suspect was later found dead by suicide following a standoff at a home in a nearby community.
Authorities said nine to 10 people were shot, and at least one child, an 8-year-old, was in critical condition.
Authorities say nine to 10 people were shot and at least one child, an 8-year-old, is in critical condition. At least four area hospitals are treating victims.
Multiple people were wounded in a shooting Saturday evening at a splash pad in the Detroit suburb of Rochester Hills, authorities said.