Federal Reserve holds interest rates steady, citing economic uncertainty
Fed officials are grappling with a host of economic challenges, from stubborn inflation to a slowing job market.
Watch CBS News
Fed officials are grappling with a host of economic challenges, from stubborn inflation to a slowing job market.
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.
On Wednesday, the average price in Michigan was $4.25, according to AAA. Within 24 hours, the state average price rose by 33 cents to $4.58.
Michigan Senate Minority Leader Aric Nesbitt, businessman Perry Johnson, former Michigan Attorney General Mike Cox and the Rev. Ralph Rebandt took the stage Thursday night in a debate hosted by the Oakland County Republican Party.
One person was taken into custody after a woman crashed her car following a stabbing on Thursday in Southfield, according to police.
Police say the baby is in critical condition, and the child's parents are minors.
The organization says its executive committee will oversee operations and lead the search for the next leader, under the leadership of DADA president Katie Coleman and Auto Show chairman Lincoln Phillip.
On Wednesday, the average price in Michigan was $4.25, according to AAA. Within 24 hours, the state average price rose by 33 cents to $4.58.
Michigan Senate Minority Leader Aric Nesbitt, businessman Perry Johnson, former Michigan Attorney General Mike Cox and the Rev. Ralph Rebandt took the stage Thursday night in a debate hosted by the Oakland County Republican Party.
The investigation forced the university to close Wells Hall, one of its busiest buildings, until Friday, May 1.
One person was taken into custody after a woman crashed her car following a stabbing on Thursday in Southfield, according to police.
Over 2.1 million voter registrations have been canceled or identified for future cancellation in Michigan since 2019, the Secretary of State says.
The organization says its executive committee will oversee operations and lead the search for the next leader, under the leadership of DADA president Katie Coleman and Auto Show chairman Lincoln Phillip.
General Motors has announced production investments at its sites in Romulus, Saginaw and Toledo.
Several cities in Southeast Michigan could allow golf carts on public streets if a state bill expanding the rules passes.
Experts said it's unlikely consumers will see a drop in prices moving forward.
Two of Michigan's congressional representatives introduced a bill aimed at supporting Michigan's role in automotive innovation and manufacturing.
Motown may be Detroit's most famous sound, but it's far from the only one.
Gene Simmons visited Detroit Rock City to celebrate the grand opening of a restaurant co-founded by him and his Kiss bandmate Paul Stanley.
The moon music tradition started more than 50 years ago, NASA said as it shared the Artemis II crew's playlist this week.
Restaurants are being considered for the new Michelin Guide American Great Lakes Edition, set to be revealed in 2027.
Kid Rock posted videos of the helicopters hovering by his Nashville home on social media over the weekend. The Army later confirmed the helicopters were on a training mission.
On Wednesday, the average price in Michigan was $4.25, according to AAA. Within 24 hours, the state average price rose by 33 cents to $4.58.
The longest shutdown of a federal department in U.S. history came to an end on Thursday when President Trump signed a bill to fund most of the Department of Homeland Security following a breakthrough on Capitol Hill.
Brent crude surged past $126 a barrel early Thursday, while U.S. gasoline prices jumped to $4.30 a gallon.
The Coast Guard will run out of funding to pay personnel on May 1, with the first missed paychecks expected May 15.
Cade Cunningham scored a franchise playoff-record 45 points, including a step-back jumper with 32 seconds left, and the top-seeded Detroit Pistons beat the eighth-seeded Orlando Magic 116-109 in Game 5 of their first-round series to stave off elimination.
Parents say the incident highlights the importance of education and communication at home, especially when it comes to THC‑infused products.
Six Detroit elementary students were hospitalized on Tuesday after eating suspected marijuana edibles, district officials said.
A proposed Michigan law would mandate health insurance plans to cover in vitro fertilization and intrauterine insemination starting in 2027.
Cases of Lyme disease have seen a 168% increase just in the last five years, according to the Michigan Department of Health and Human Services.
Macomb County health officials reported Thursday the county's first confirmed measles case in 2026.
Cade Cunningham scored a franchise playoff-record 45 points, including a step-back jumper with 32 seconds left, and the top-seeded Detroit Pistons beat the eighth-seeded Orlando Magic 116-109 in Game 5 of their first-round series to stave off elimination.
The Detroit Lions have picked up the fifth season of Pro Bowl running back Jahmyr Gibbs' contract and declined All-Pro linebacker Jack Campbell's fifth-year option, according to a person familiar with the moves.
Michigan basketball coach Dusty May has announced that three players have been added from the transfer portal and two incoming freshman are joining four high school seniors who were signed in November.
Desmond Bane scored 22 points, Franz Wagner had 19 in three quarters and the Orlando Magic beat the Detroit Pistons 94-88 to take a 3-1 series lead, putting the East's No. 1 seed on the brink of elimination.
Construction crews are making way for the new home of the Detroit City Football Club after demolishing the old Southwest Detroit Hospital.
Robert Costa, the award-winning national correspondent for CBS Sunday Morning and chief Washington analyst for CBS News, talks about Michigan's role in this critical midterm election.
Diallo Smith, CEO of Detroit nonprofit Life Remodeled, talks about its new opportunity hub on the east side of Detroit called Anchor Detroit.
It's a look at the critical relationship between Canada, Michigan and the U.S. on this week's Michigan Matters.
The roundtable discusses the dramatic impact AI is having in the classroom, at companies and inside homes.
There's a focus on Michigan's defense industry as a national convention comes to Detroit in a few weeks, with over 11,000 people expected at Huntington Place.
One person was taken into custody after a woman crashed her car following a stabbing on Thursday in Southfield, according to police.
Gas prices in Michigan have rapidly increased, with some gas stations charging $5 a gallon for regular.
Michigan Senate Minority Leader Aric Nesbitt, businessman Perry Johnson, former Michigan Attorney General Mike Cox and the Rev. Ralph Rebandt took the stage Thursday night in a debate hosted by the Oakland County Republican Party.
Four Michigan Republican gubernatorial candidates participated in a manufacturing forum and debate hosted by the Oakland County Republican Party on Thursday night.
Gas prices across the United States, and even in Michigan, are under a microscope as drivers brace for rapid changes. Kevin Ketels, director of Entrepreneurship & Innovation Programs at Wayne State University, breaks down how high oil prices are impacting multiple industries.