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.
Are robot waiters the future?
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.
Iranian state media said there was no "direct or indirect communication" with President Trump.
The Trump administration began deploying U.S. Immigration and Customs Enforcement agents to some of the busiest airports in the country Monday morning.
A fatal crash happened on I-96 after a passerby had taken two children, ages 4 and 8, out of a disabled car, but the driver was still inside.
A man died of his injuries after he was struck by a pickup truck early Monday in Sterling Heights, police said.
Gas prices in Michigan are up 33 cents per gallon as compared to a week ago, AAA-The Auto Club Group says.
The Trump administration began deploying U.S. Immigration and Customs Enforcement agents to some of the busiest airports in the country Monday morning.
Gas prices in Michigan are up 33 cents per gallon as compared to a week ago, AAA-The Auto Club Group says.
Two pilots were killed and dozens of people injured at New York's LaGuardia Airport late Sunday night when an arriving Air Canada Express plane and fire and rescue vehicle collided, authorities said.
A California man is accused of taking part in a large-scale gift card fraud scheme that targeted several Southeast Michigan Meijer stores.
Iranian state media said there was no "direct or indirect communication" with President Trump.
Cities in Michigan lose big tax revenue from pollution-control tax breaks, and many do not track what they give up.
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.
It's a sign that Metro Detroiters are ready to say goodbye to winter and welcome spring, and the Marche du Nain Rouge is a feast for the eyes.
Chuck Norris' family said his death at 86 was sudden, but did not share any details on the cause.
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 Trump administration began deploying U.S. Immigration and Customs Enforcement agents to some of the busiest airports in the country Monday morning.
Two pilots were killed and dozens of people injured at New York's LaGuardia Airport late Sunday night when an arriving Air Canada Express plane and fire and rescue vehicle collided, authorities said.
President Trump said Immigration and Customs Enforcement agents will assist TSA agents at airports as delays and security staffing shortages continue to worsen.
TSA representatives say employees are trying to figure out how to feed their families and keep the lights on at home.
Police found that five Barbie packages containing fentanyl were sold. They have all been recovered.
A measles outbreak continues to expand in Southeast Michigan, with a fourth suspected case now reported in Washtenaw County.
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
Olivia Olson had all 27 of her points in the second half and Syla Swords bounced back from a slow start to score 26 and help second-seeded Michigan rout short-handed N.C. State.
Western Michigan has hired Kahil Fennell away from Texas-Rio Grande Valley to be its men's basketball coach.
Kim Barnes Arico has turned Michigan's women's basketball into a consistently winning program for the first time in school history.
Michigan State has advanced to the Sweet 16 for the 17th time under coach Tom Izzo, beating Louisville 77-69 on in the second round of the NCAA Tournament.
Yaxel Lendeborg punctuated his 25-point outing with a massive dunk in transition, and the Midwest Region's top-seeded Michigan advanced to the Sweet 16 with a 95-72 win over Saint Louis in the second round of the NCAA Tournament.
Dave Coulter updates Oakland County's move to its new offices in downtown Pontiac and when that might take place.
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.
The Lebanese American Community in Metro Detroit gathered for an event to support friends and family home in Lebanon, offering prayers and raising money to help those in need.
Detroit police said they were looking for a woman who was last seen Saturday at Hollywood Casino. She was reported found on Monday morning.
Good morning Fam! Happy Monday, expecting a few scattered snow showers today, mainly after 11am. Mostly cloudy, with a high near 40. North northwest wind 11 to 14 mph, with gusts as high as 21 mph. Warming by mid week.
Iran has answered President Trump's threat to "obliterate" the country's power plants if it doesn't reopen the Strait of Hormuz by Monday evening, with more attacks on Israel and Gulf states, and threats to respond in kind.
Gas prices have been on the increase, and now are at their highest point in Michigan since August 2023.