July PCE inflation index held at 3.7% annual pace, hotter than expected
The Personal Consumption Expenditures index was unchanged from June, highlighting stubborn inflationary pressures.
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The Personal Consumption Expenditures index was unchanged from June, highlighting stubborn inflationary pressures.
The White House has informed Lisa Cook, a member of the Federal Reserve Board of Governors, that President Trump is considering firing her.
The Supreme Court allowed Lisa Cook to continue in her post as a member of the Federal Reserve Board of Governors while legal proceedings over President Trump's attempt to fire her continue.
Alan Greenspan's lengthy reign at the Federal Reserve coincided with a period of stability from the mid-1980s until 2007.
U.S. inflation is expected to remain elevated through the end of the year, Fed officials say in their latest forecast.
New Fed Chairman Kevin Warsh is stepping in at a critical juncture for the U.S. economy, with inflation at its highest level in more than three years.
The personal consumption expenditures price index, the Federal Reserve's preferred gauge of inflation, jumped due to higher energy costs.
A "hawkish" turn at the Fed and stubbornly high inflation could delay interest rate cuts, according to Bank of America economists.
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.
A grocery store on Detroit's east side was packed Monday after word spread that the store was giving out free groceries.
In a widely shared and controversial post to Truth Social on Monday morning, President Trump blasted communities across the country that are rallying against data centers.
A Ford contract employee was taken to a hospital following an incident on Monday morning at the Michigan Assembly Plant in Wayne, Michigan.
Ryan Jeffers had two homers, Walker Jenkins went deep for the first time in his major league career, and the Minnesota Twins beat the Detroit Tigers 11-1.
The Detroit Public Schools Community District announced on Monday that it will release students three hours early on Sept. 1 and 2 due to high temperatures expected this week.
Michigan Rep. Debbie Dingell and New York Reps. Tim Kennedy and Joe Morelle challenge President Trump's executive order renaming Lake Ontario "Lake America."
The Detroit Public Schools Community District announced on Monday that it will release students three hours early on Sept. 1 and 2 due to high temperatures expected this week.
In a widely shared and controversial post to Truth Social on Monday morning, President Trump blasted communities across the country that are rallying against data centers.
A grocery store on Detroit's east side was packed Monday after word spread that the store was giving out free groceries.
Ahead of Vice President JD Vance's visit to stump for Mike Rogers on Monday, his opponent Senate candidate Abdul El-Sayed says his message is the same - he's focused on affordability and access to healthcare.
A Ford contract employee was taken to a hospital following an incident on Monday morning at the Michigan Assembly Plant in Wayne, Michigan.
Automotive expert Paul Eisenstein of Autoline TV said the number of vehicles recalled this year has surged.
Woodward Dream Cruise participant Mike Holmes, who showed off a DeLorean at Saturday's event, said the " human interaction is just as much fun as driving the car."
General Motors says 350 workers will be laid off in January at its Lansing Grand River Assembly/Stamping and Lansing Regional Stamping sites.
Ford says the reveal is intended to connect directly with the enthusiasts who have helped make the Woodward Dream Cruise one of the nation's premier automotive events.
For decades, the Farmington Civic Theatre has often been recognized as a community staple, but since the Covid-19 pandemic, management says attendance has dropped significantly.
Robinette's Apple Haus and Winery in Grand Rapids will open its corn maze season on Sept. 1 with a Dolly Parton theme.
Tim Curry was known for his iconic performances in cult classics like "The Rocky Horror Picture Show" and the original screen adaptation of Stephen King's "It."
Audience members at a stage performance of "9 to 5: The Musical" in the U.K. were heard gasping aloud at the news of Dolly Parton's death Tuesday.
Detroit rapper Eminem joined several others paying tribute to singer and actress Dolly Parton, who died at the age of 80.
Michigan Congresswoman Debbie Dingell and New York Congressmen Tim Kennedy and Joe Morelle introduced the Hands Off Our Great Lakes Act, challenging President Trump's executive order renaming Lake Ontario "Lake America."
Duane "Keffe D" Davis, 63, was charged with murder with a deadly weapon with the intent to promote, further or assist a criminal gang in Shakur's death.
Ahead of Vice President JD Vance's visit to stump for Mike Rogers on Monday, his opponent Senate candidate Abdul El-Sayed says his message is the same-- he's focused on affordability and access to healthcare.
The deal involves developing 17 strategic oil fields in Venezuela, an undertaking that experts said could take years.
Lawmakers could also vote on condemning socialism and censuring GOP Rep. Chuck Edwards.
Michigan's first case of Eastern equine encephalitis (EEE) in a domestic animal in 2026 has been detected in a horse in Clare County.
Juul plans to market the new device under the brand name Juul2, along with updated versions of its tobacco- and menthol-flavored cartridges.
Tymale Carroll might not be here today if he hadn't been right across the street from Trinity Hospital in Livonia when his heart stopped behind the wheel.
Health officials continue to track an outbreak of cyclosporiasis, an intestinal illness that affected thousands of people in Southeast Michigan this summer.
U.S. officials have confirmed cases of a parasitic illness tied to lettuce in three more states: Georgia, Tennessee and Texas.
Ryan Jeffers had two homers, Walker Jenkins went deep for the first time in his major league career, and the Minnesota Twins beat the Detroit Tigers 11-1.
Steven Alker won the Ally Challenge on Sunday for his second straight PGA Tour Champions victory and third of the season, closing with a 4-under 68 at Warwick Hills in Grand Blanc, Michigan, for a three-stroke margin.
Tyler Glasnow gave up two hits and one run in seven innings as the Los Angeles Dodgers beat the Detroit Tigers 6-1.
The Seattle Seahawks on Saturday officially signed former Detroit Lions cornerback Terrion Arnold, who is facing felony charges in Florida and will be placed on the commissioner's exempt list while the case plays out.
Noah Kim threw for two touchdowns and ran for another to lead Eastern Michigan past Sacramento State 28-17 in a season and Mid-American Conference opener.
The roundtable talks politics, civility and issues that will resonate this fall in various elections.
As we count down the final days of summer, there's still a wee bit of time left to grab a good book as you head to the beach or maybe your backyard.
Rachel Stewart previews the upcoming America's Thanksgiving Parade presented by Gardner White, which will celebrate its 100th anniversary in 2026.
The eyes of the nation were on Michigan as its critical 2026 primary was held last Tuesday.
As the nation turns its attention to Michigan's critical Aug. 4 primary, the Michigan Matters roundtable weighs in.
More monsoon rain is impacting the Grand Canyon, slowing the desperate search for survivors after flash flooding.
The Hands Off Our Great Lakes Act, introduced by Michigan Congresswoman Debbie Dingell and New York Congressmen Tim Kennedy and Joe Morelle, would prohibit the federal government from changing any of the five Great Lakes' names and reverse President Trump's order regarding Lake Ontario.
A grocery store on Detroit's east side was packed Monday after word spread that the store was giving out free groceries.
Temperatures spike in the low 90s through Wednesday, with the heat index climbing into the upper 90s.
In a widely shared and controversial post to Truth Social on Monday morning, President Trump blasted communities across the country that are rallying against data centers.