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.
Michigan Gov. Gretchen Whitmer on Tuesday declared a state of emergency in Alcona, Alpena, Delta, Missaukee, Ogemaw, Roscommon and Wexford counties.
Jalen Duren had 36 points and 12 rebounds for the Eastern Conference-leading Detroit Pistons, who lost fellow All-Star Cade Cunningham to back spasms in the first half of a 130-117 victory over the Washington Wizards.
A man charged in connection with a shooting last year at Corewell Beaumont Troy Hospital was sentenced to 13.25 years in prison.
Police say the suspect was taken into custody roughly 30 minutes after officers received the 911 call.
In the wake of the Temple Israel attack in West Bloomfield, Michigan, the focus on the safety of our region's faith communities is at an all-time high.
The vote from 10,000 nurses at nine hospitals and campuses received 90% approval for authorization
A newborn baby girl died after being attacked by a dog Tuesday, police said.
Google is the company behind plans for Project Cannoli, a computer data center proposed for a site near I-94 and Haggery Road.
Michigan Gov. Gretchen Whitmer on Tuesday declared a state of emergency in Alcona, Alpena, Delta, Missaukee, Ogemaw, Roscommon and Wexford counties.
The Michigan Air National Guard has canceled the 2026 Selfridge Open House and Air Show, which was scheduled for May 30 and 31.
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.
For the first time in 15 years, Stellantis is not issuing a profit-sharing distribution to UAW-represented employees.
Union Vice President Laura Dickerson confirmed that the worker, TJ Sabula, "has no discipline on his record."
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.
A woman was arrested on Sunday for firing multiple shots at the Beverly Hills home of Rihanna, Los Angeles Police Department officials say.
Jalen Duren had 36 points and 12 rebounds for the Eastern Conference-leading Detroit Pistons, who lost fellow All-Star Cade Cunningham to back spasms in the first half of a 130-117 victory over the Washington Wizards.
A $4.3 billion investment is going toward a battery cell manufacturing plant in Lansing, Michigan, to provide Tesla with prismatic battery cells.
President Trump's director of the National Counterterrorism Center, Joe Kent, announced his immediate resignation Tuesday, citing the administration's decision to intervene in Iran.
Some residents immediately feared the sound was an explosion, according to CBS affiliate WOIO, but weather service officials say it appears to have been a meteor.
The Senate voted to begin a marathon debate on the SAVE America Act, an elections bill that President Trump has been pressing Republicans to pass.
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.
A second resident of Washtenaw County is suspected to have measles, as health officials continue an investigation about potential cases and exposure sites.
A measles case has been confirmed in Washtenaw County, with health officials investigating when and where others may have been exposed in Southeast Michigan.
Michigan Medicine will drop thousands of Blue Cross Blue Shield members if a deal isn't reached.
Jalen Duren had 36 points and 12 rebounds for the Eastern Conference-leading Detroit Pistons, who lost fellow All-Star Cade Cunningham to back spasms in the first half of a 130-117 victory over the Washington Wizards.
Michigan's basketball program has a shot to win its first national title since 1989 thanks to a rebuild under Dusty May.
Patrick Kane scored twice for Detroit to move into sole possession of fourth place on the all-time goals list for NHL players born in the U.S. and lead the Red Wings to a 5-2 victory over the Calgary Flames on Monday night.
The top 16 seeds in the 68-team women's NCAA field will host first- and second-round games, with the regional rounds being played at two neutral sites for the fourth straight year.
The Detroit Pistons were topped by the Raptors 119-108 on Sunday. Brandon Ingram had a game-high 34 points for Toronto.
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.
Cold air and snow showers continue on Wednesday before warmer air arrives this weekend.
In the wake of the Temple Israel attack, focus on the safety of Michigan's faith communities is at an all-time high.
Corewell Health East nurses, who are represented by the Teamsters union, voted on Tuesday to authorize a strike against the health system over their contract.
Production is expected to begin at the Lansing-area plant in 2027.
Things got heated at Monday night's school board meeting in Hazel Park. The board of education voted to buy out the superintendent's contract before one of the members flip-flopped his answer.