Fed holds interest rates steady as inflation remains above 2%
The Federal Reserve opted to leave its benchmark interest rate unchanged in its first policy meeting since President Trump's inauguration.
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The Federal Reserve opted to leave its benchmark interest rate unchanged in its first policy meeting since President Trump's inauguration.
Inflation is proving stickier than expected, which could cause Fed to hit pause button on more interest rate cuts.
The Federal Reserve on Wednesday moved to lower its benchmark rate by 0.25 percentage points, but said it plans fewer cuts in 2025.
The Federal Reserve announced a third rate cut today, but also cautioned it expects fewer cuts in 2025.
The Federal Reserve announced its second interest rate cut of 2024, but Trump's economic priorities could impact future policy.
Donald Trump's victory in the 2024 presidential election is likely to have a major impact on the economy. Here's what to know.
The Federal Reserve said it is cutting rates by 0.25 percentage points, its second rate cut of the year.
This month's report reflects a lot of noise due to hurricanes, Boeing machinists strike.
The Fed's decision will lower borrowing costs from a 23-year high as the central bank pivots to shoring up economic growth.
The Fed has slashed borrowing costs for the first time in more than four years. Here's how that would impact people with credit card balances.
The Federal Reserve just lowered its benchmark rate by 0.50 percentage points. Here's how the move could impact your finances.
The Federal Reserve kept its benchmark rate in a range of 5.25% to 5.5%, the same level where it's been parked since July 2023.
Inflation-weary consumers have also been slammed by high borrowing costs, but the Fed is cautious about sticky inflation.
Inflation is moving sideways, remaining above 3% for the first three months of 2024. Here's how that could impact your finances.
The Fed left its benchmark interest rate unchanged amid persistent inflation. Bankers are predicting three rate cuts later this year.
The Federal Reserve marked its first rate decision of 2024 by keeping its benchmark interest rate unchanged.
In its last rate decision of 2023, the central bank said it is holding its benchmark rate steady amid cooling inflation.
Interest rates for a home loan are continuing to soar, driving many aspiring property owners out of the market.
Although inflation has slowed sharply, Fed officials are again tapping the brakes to ensure the economy slows.
After raising rates from zero to 5% in 15 months, the central bank is pausing to assess the economic impact of monetary tightening.
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
Latest hike brings the U.S central bank's benchmark interest rate to its highest level in 16 years.
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.
The U.S. central bank eases up its efforts to curb inflation amid concerns about banking industry risks.
A state income tax cut proposal is moving through the Michigan statehouse, seeking to set rate at 2023's amount.
The Poe Lock will open to marine traffic at 8 a.m. on Friday, March 21.
A 4-year-old girl was found outside without an adult, wearing only a diaper, as she was chased by dogs in Monroe.
A thief who stole a golden toilet worth over $6 million from an English palace has been convicted, along with an accomplice in the 2019 heist.
Michigan's Vladislav Goldin stood alongside his fiance at Detroit Metropolitan Airport as he waited a little longer for a moment he had been looking forward to for five years.
A 4-year-old girl was found outside without an adult, wearing only a diaper, as she was chased by dogs in Monroe.
A state income tax cut proposal is moving through the Michigan statehouse, seeking to set rate at 2023's amount.
Michigan residents are encouraged to participate in a voluntary statewide tornado drill at 1 p.m. Wednesday.
Firefighters were on the scene early Wednesday for a blaze at an apartment complex in Macomb County.
The Poe Lock will open to marine traffic at 8 a.m. on Friday, March 21.
About 50 cars and trucks that are part of Ford's Heritage Fleet are on display in Dearborn, Michigan.
The Trump administration has imposed a 24% tariff on Canada and Mexico and a 10% tariff on China.
AAA says the most expensive gas prices in the state can be found in Ann Arbor ($3.13), Metro Detroit ($3.11) and Jackson ($3.08).
Michigan drivers are seeing some relief at the gas pump this week.
President Trump announced a new 25% blanket tariff on all steel and aluminum imports. This tariff is part of a growing list of tariffs his administration has already threatened or imposed.
Detroit's Corktown welcomed more than 80,000 people for the 67th annual St. Patrick's Parade Sunday afternoon.
Who killed Donald Goines.
313 Day celebrates all things Detroit. The number represents the legacy area code for the metro area.
The Detroit show was initially scheduled for March 29.
Loaded Dice Brewery, which was part of the craft beer community in Southern Michigan, has closed.
Elon Musk's ties to the Trump administration have provoked protests and violent attacks on Tesla across the U.S.
One professor said this JFK assassination files release is "certainly the most useful" of any so far "because of the redactions being removed."
U.S. District Judge Ana Reyes ruled in favor of transgender active-duty service members and transgender people in the process of enlisting.
Farmers brought their tractors and drove laps around the Michigan Capitol on Tuesday to protest what they're calling government overreach.
About one in five newborns in the U.S. start out on infant formula, making it a crucial source of nutrition.
About one in five newborns in the U.S. start out on infant formula, making it a crucial source of nutrition.
PepsiCo will acquire healthier soda brand Poppi as it strives to diversify into soda and snack offerings.
Dr. Celine Gounder explains how poor dental care can potentially increasing your risk of developing other health conditions.
Oakland County health officials have announced the first confirmed case of measles in Michigan for 2025.
Antonio Serraon is charged with one count of placing misleading or inaccurate information in medical records or charts and one count of unauthorized practice of a health profession.
Michigan's Vladislav Goldin stood alongside his fiance at Detroit Metropolitan Airport as he waited a little longer for a moment he had been looking forward to for five years.
Michigan State's Jeremy Fears is one of the most thankful players in the NCAA Tournament.
Cade Cunningham had 24 points and eight assists, and the Detroit Pistons routed the New Orleans Pelicans 127-81.
Kirk Gibson, who has spent decades in the MLB, including with the Detroit Tigers, is stepping down from broadcast on FanDuel Sports Network.
Young women held up signs with messages for the Professional Women's Hockey League, calling on it to expand to Detroit.
It's a conversation about the first weeks of the Trump administration and its impact on Michigan.
Newly elected Michigan Democratic Party Chairman Curtis Hertel Jr. discussed his party and its future on CBS Detroit's Michigan Matters.
A career path tied to EVs and clean energy is opening a little wider for some Metro Detroiters.
As the legalized cannabis industry surpassed the $10 billion sales mark in the state since 2019, it's a look at what's ahead for this booming sector.
Judge Keith, who died in 2019 at the age of 96, issued numerous landmark rulings that championed equality and civil rights.
Firefighters are on scene of a blaze at an apartment complex near 27 Mile Road and Van Dyke Road in Macomb County.
The National Weather Service falls under the umbrella of the National Oceanic and Atmospheric Administration. Here's a look from CBS News as to what the agency does, and the staffing cuts that have been taking place.
A shooting on Detroit's Forrer Street is under investigation.
A deadly stabbing at the Citgo station on Chalmers Street in Detroit. Flex route lanes are starting on I-96 in Oakland County. Other top stories and weather.
Rain and some snow tomorrow.