Inflation rose in July, marking the first increase in a year
Though far from its recent peak of 9.1% in June 2022, the figure remains higher than the Federal Reserve's goal of 2%.
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Though far from its recent peak of 9.1% in June 2022, the figure remains higher than the Federal Reserve's goal of 2%.
Consumer sentiment tracked by the University of Michigan rose 11% in July from the prior month, reaching its highest level since October 2021, according to a final reading of the month's data.
Although inflation has slowed sharply, Fed officials are again tapping the brakes to ensure the economy slows.
The average price for a Big Mac in the U.S. is $5.35. At the location in Darien, Connecticut, some combo meals top $21.
The Durfee Innovation Society and the group, Life Remodeled, have taken over the site of a former school and filled each classroom with resources and opportunities.
Cookout costs will vary, but Americans hitting the road are about to save $2.6 billion on gas this holiday weekend over last year.
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
The financial health of some groups has deteriorated sharply compared with a year ago due to rising inflation and higher bills.
The Saudi cut of 1 million barrels per day comes as the other OPEC+ producers agreed to extend earlier production cuts through next year.
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.
Central bank officials will announce on Wednesday if they are hiking the federal funds rate for a 10th consecutive time.
The regional lender, whose collapse is the second-biggest bank failure in U.S. history, is the third bank to be seized by regulators since March.
More than 4,000 students visited the state's largest construction career fair.
The economy grew at a tepid 1.1% rate, showing that the Fed's interest rate hikes are taking effect.
Mired in a prolonged sales slump, the retail chain has struggled to attract customers both in stores and online.
CEO Jonah Peretti wrote in a memo that "the company can no longer continue to fund BuzzFeed News as a standalone organization."
Wedding dress retailer cites "post-COVID environment and uncertain economic conditions," saying it's looking for a buyer.
Majority of respondents remain pessimistic about the economy as a whole, according to Primerica survey.
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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.
Carson Cooper matched his career high with 20 points and grabbed 10 rebounds as Michigan State routed North Dakota State 92-67 to reach the second round of the NCAA Tournament for the 22nd time in 28 consecutive appearances under coach Tom Izzo.
A Wyandotte, Michigan, man charged with embezzling more than $166,000 from his former employer was sentenced to two to 20 years in prison.
A Detroit father is being recognized for his bravery after saving two neighbors from their burning home in January.
Oakland County Sheriff Michael Bouchard hosted a press conference to discuss the attack on Temple Israel and how the community moves forward.
Those with the city say giving building access to tenants is a much larger undertaking.
The woman's 5-year-old daughter was attending school at Temple Israel when she received a call about an active shooter.
A former Detroit Police Department sergeant is accused of kidnapping and sexually assaulting five young women over four years.
Michigan health officials have identified a measles outbreak in Washtenaw County after three linked cases were reported since March 12.
Oakland County Sheriff Michael Bouchard hosted a press conference to discuss the attack on Temple Israel and how the community moves forward.
Six police officers and a semi-truck driver have been released from a local hospital after a fiery crash involving a car and a semi-truck.
Gas prices are currently hovering just below $4 a gallon in much of Michgan, AAA says.
Henry Ford introduced the moving assembly line, a system that reshaped industrial production and helped make automobiles more accessible to the public.
A $4.3 billion investment is going toward a battery cell manufacturing plant in Lansing, Michigan, to provide Tesla with prismatic battery cells.
The United Auto Workers says that Detroit Diesel is adding a third shift, recalling laid-off workers and hiring dozens more people.
AAA says motorists are paying an average of $3.53 a gallon for regular unleaded gas in the United States.
Afroman spoke to CBS News after he won the case, which tested the limits of parody and the license artists can take in social commentary directed at public figures.
Short film director Sam Davis gave a shout out to his Michigan hometown when accepting an Oscar award on Sunday.
The film follows CBS News correspondent Steve Hartman and photographer Lou Bopp through their seven-year journey to document the toll of America's school shooting epidemic.
The acclaimed filmmaker, who died in February at age 96, revolutionized the art of documentaries with such films as "Titicut Follies." In an interview recorded last year, the pioneering Wiseman talked about his unusual production methods aimed at capturing life.
Hollywood's biggest stars were honored at the 98th annual Academy Awards on Sunday. Here is what to know and how to watch the 2026 Oscars.
Carson Cooper matched his career high with 20 points and grabbed 10 rebounds as Michigan State routed North Dakota State 92-67 to reach the second round of the NCAA Tournament for the 22nd time in 28 consecutive appearances under coach Tom Izzo.
The man who attacked a synagogue in Michigan last week sent a photo of himself with the AR-style rifle he had during the attack to a family member in Lebanon, according to a U.S. official.
The body James Gracey, the University of Alabama student who disappeared in Barcelona, has been found, Spanish police said Thursday.
The Senate Homeland Security and Governmental Affairs Committee advanced Sen. Markwayne Mullin's nomination to lead the Department of Homeland Security.
Even after accounting for record-high detention populations, the rate of deaths per 10,000 ICE detainees was the highest in 2025 than in any year since the COVID-19 pandemic hit in 2020.
Michigan health officials have identified a measles outbreak in Washtenaw County after three linked cases were reported since March 12.
Legislation is pending in Lansing that is intended to prohibit the sale or distribution of a substance called kratom.
A new report says Michigan should invest in primary care doctors to ease a severe shortage of physicians that has led to long wait times, higher costs and missed care.
The vote from 10,000 nurses at nine hospitals and campuses received 90% approval for authorization
China Reynolds' son, Auggie, could be waiting for the next 6 to 12 months in the hospital until a new heart is available.
Carson Cooper matched his career high with 20 points and grabbed 10 rebounds as Michigan State routed North Dakota State 92-67 to reach the second round of the NCAA Tournament for the 22nd time in 28 consecutive appearances under coach Tom Izzo.
Michigan takes on Howard at KeyBank Center in Buffalo at 7:10 p.m. Thursday.
Cunningham got hurt in Tuesday's win over Washington, leaving midway through the opening quarter with what the team called back spasms.
Michigan State faces North Dakota State at 4:05 p.m. at KeyBank Center in Buffalo.
Michigan celebrated its best women's basketball players for the first time this season, honoring Diane Dietz, Katelynn Flaherty Yates and Naz Hillmon by raising maize banners to the rafters at Crisler Center with their names and number in blue.
Gardner White opened doors in Detroit in 1912, and the retailer continues to expand with nine new stores planned this year.
Rose talks about a new TV series being filmed in Detroit called "South West High," which revolves around a fictional high school in the Motor City.
As Women's History Month kicks off, Donna Murray-Brown, the new president and CEO of Inforum, appears on Michigan Matters.
Penske, a business and racing legend, turns 89 on Feb. 20 and is celebrating his 60th year in racing during 2026.
Claressa Shields talks about giving back to the community and her efforts to increase equity for women in sports.
A Detroit father is being recognized for his bravery after saving two neighbors from their burning home in January.
Springlike weather tomorrow! NEXT Weather Meteorologist Karen Carter tells us what we can expect for tonight and tomorrow.
Federal officials have found a business checking account linked to former Detroit Mayor Kwame Kilpatrick, and are trying to seize the funds.
It has been one week since the violent attack on Temple Israel in West Bloomfield, Michigan, and officials are renewing calls to halt antisemitic rhetoric and threats.
Nearly four months after dozens of Leland House tenants were evacuated from their homes, the battle to allow them to retrieve their belongings now sits in bankruptcy court.