Trump nominates Kevin Warsh as next Federal Reserve Board chair
President Trump says he is nominating Kevin Warsh to be the next chair of the Federal Reserve, filling a powerful economic policy role as the president pushes for lower interest rates.
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President Trump says he is nominating Kevin Warsh to be the next chair of the Federal Reserve, filling a powerful economic policy role as the president pushes for lower interest rates.
President Trump's plans to ease the financial pressures on Americans are bold but could backfire, experts said.
The subpoenas threatened a criminal indictment related to Jerome Powell's testimony before the Senate Banking Committee in June 2025, according to the Fed chair.
The Federal Reserve is grappling with economic issues including higher inflation and a slowing labor market.
Bitcoin has erased all of its 2025 gains and is on track for its worst monthly performance since 2022. Here's what experts say about the decline.
The Fed on Wednesday announced its second interest-rate cut of 2025, reducing borrowing costs in a move to spur U.S. hiring.
Concerns about a weakening labor market may outweigh worries about rising inflation, tipping the Fed toward another rate cut, economists say.
The Federal Reserve announced Wednesday to cut base interest rates by a quarter percentage point bringing 4.25%. It's the first cut we've seen in nine months and that could have an impact on consumer interest rates for credit card debt, car loans and mortgage rates. CBS News has this report.
The Federal Reserve is cutting its benchmark interest rate as the U.S. economy faces headwinds, including a faltering labor market.
Lisa Cook sued the Trump administration to block her firing, the first time a president has sought to remove a member of the seven-person board of governors.
The Federal Reserve's September meeting this week is taking place amid the Trump administration's push for the agency to lower interest rates.
President Trump has said he is firing Cook from her role over allegations she made false representations on mortgage agreements several years ago.
Americans' confidence in finding a new job fell to the lowest measure on record, new government survey shows.
Headlines from the White House include the latest discussions on a new crime bill; President Trump's dispute with a Federal Reserve governor; and a letter submitted by some FEMA staff. CBS News has this report.
President Trump said Monday he has fired Lisa Cook from the Federal Reserve's Board of Governors. Her attorney countered that they plan to file a lawsuit challenging the move.
Federal Reserve Chair Jerome Powell cited risks to the labor market in opening the door to cutting interest rates. Here's what job-seekers should know.
President Trump called on Fed Governor Lisa Cook to resign on Wednesday after one of his appointees accused her of mortgage fraud.
Federal Reserve Chair Jerome Powell has been under pressure from President Trump to lower the central bank's benchmark interest rate.
The Fed is maintaining its benchmark interest rate in the range of 4.25% to 4.5%, where it's been parked since December.
President Trump has lashed out against Federal Reserve Chair Jerome Powell for weeks.
Employers across the U.S. added 147,000 jobs in June, while the unemployment rate fell to 4.1%.
Wednesday before the Senate Banking Committee, Federal Reserve Chair Jerome Powell emphasized the country's national debt is on an unsustainable path. Also on Wednesday, President Trump said he had people in mind for Powell's replacement, although the chair's term is not yet expired.
The Federal Reserve said Wednesday it will maintain the benchmark interest rate at its current range of 4.25% to 4.5%
President Trump wants the Federal Reserve to cut interest rates. Here's what experts predict at the central bank's May 7 meeting.
Fed Chair Jerome Powell cites "high uncertainty" around the impact of Trump administration tariffs on key trading partners.
Many people in Michigan have ties to Iran, and they're watching the war closely.
The shooting is the second in two days involving a child and an unsecured gun. Firearm safety activists say the shootings could have been prevented by following Michigan's safe storage law.
Zeke IV, a beloved dog and mascot at Michigan State University for nearly 10 years, has died.
Prosecutors say the woman allegedly forged a quitclaim deed transferring the victim's property to her and sold the property a month later.
Detroit Mayor Mary Sheffield on Monday appointed former Dearborn Public Health Officer Ali Abazeed as Detroit's new chief public health officer.
President Trump refused to rule out the use of ground troops in Iran in a new interview on Monday, saying he wouldn't hesitate to deploy them "if they were necessary."
One person is in custody while police continue to investigate the circumstances of a toddler who was found Saturday, crying inside an impounded car in Metro Detroit.
Many people in Michigan have ties to Iran, and they're watching the war closely.
A 6-year-old girl was fatally injured during an accidental gunshot on Monday in a shopping center parking lot in Detroit.
Whether Tuesday's lunar eclipse will be visible from Metro Detroit depends on the cloud cover and sunrise time.
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."
Some General Motors employees are taken aback by this year's profit-sharing checks, with it being $4,000 less than the previous one.
While many assume a "harsh" winter, or this bone-chilling, sustained cold, is the enemy of asphalt, the real culprit is temperature fluctuation.
In Metro Detroit, drivers are paying about $2.90 per gallon, which is 2 cents less than last week and 29 cents less than at the same time last year.
Hillary Knight, Megan Keller and Jack and Quinn Hughes made a surprise appearance during "Heated Rivalry" star Connor Storrie's opening monologue on "SNL."
Singer-songwriter Neil Sedaka, known for his hits like "Laughter in the Rain," "Breaking Up is Hard to Do" and "Calendar Girl," has died.
A 19th-century George Méliès film, thought to be long lost, has been found among a box of brittle movie reels that a Michigan donor brought to the Library of Congress, officials said.
Streaming giant Netflix declined to match Paramount Skydance's $31 per share offer for Warner Bros. Discovery.
The Rock & Roll Hall of Fame has announced its 2026 list of nominees, including Phil Collins, Mariah Carey, Wu-Tang Clan and more.
Many people in Michigan have ties to Iran, and they're watching the war closely.
More employees are clinging to their positions in a trend known as "job-hugging." That's making it harder for job-seekers to find work.
U.S. motorists could soon see higher prices at the pump as oil prices surge following the attacks in Iran.
President Trump said he expects the bombing campaign to last four to five weeks, but "we have [the] capability to go far longer than that."
The Pentagon announced Monday that six American service members have been killed in Operation Epic Fury.
Detroit Mayor Mary Sheffield on Monday appointed former Dearborn Public Health Officer Ali Abazeed as Detroit's new chief public health officer.
Lawmakers say Green Alerts won't just help bring veterans to safety, but also national guard and active service members.
USALESS.COM is recalling its Rhino Choco VIP 10X product due to the undeclared presence of Tadalafil, which is the active ingredient in Cialis.
There are a few steps to get an exemption for a required vaccine here in Michigan and a group of Republican lawmakers want to make sure it doesn't get any more difficult in the future.
Michigan lawmakers required schools to adopt a cardiac emergency response plan for the current school year if the Legislature appropriated "sufficient funds," but funding wasn't dedicated in the education budget.
The Detroit Lions are shaking up their offense with the release of offensive lineman Graham Glasgow on Monday.
The Lions are trading running back David Montgomery to the Texans in exchange for offensive lineman Juice Scruggs, according to CBS Sports.
Detroit SportsNet, a newly launched cable/satellite television channel, will be the broadcast home of the Tigers and the Red Wings.
Cade Cunningham had 29 points and 11 assists, Tobias Harris scored 23 points and the NBA-leading Detroit Pistons beat the Orlando Magic 106-92 on Sunday night for their sixth straight road victory.
Over sixty teams competed at a Special Olympics Michigan basketball tournament on Sunday at Legacy Sports Complex in Brighton.
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.
The roundtable discusses the impact of the high-profile game for advertisers, including Detroit-based Rocket and Redfin.
Could a new entertainment tax and a new sales tax be ahead for the Motor City?
As the 2026 Detroit Auto Show wraps up Sunday, the roundtable discusses the signature event and standout moments from the past two weeks.
Hasti Raveau, an Iranian American, has family all across the country of Iran. Raveau said her family has been prepared for an attack like this by stocking up on food and medicine.
The shooting is the second in two days involving a child and an unsecured gun. Firearm safety activists say the shootings could have been prevented by following Michigan's safe storage law.
A major construction project on Interstate 94 kicked off on Monday and will last for several months.
President Trump says it will take four to five weeks for the U.S. to reach its goals in Iran, but warned that it could take longer.
Temperatures begin to warm tomorrow, but we'll need to watch for some light freezing drizzle south of I-96 on Tuesday mid-morning.