Federal Reserve holds its benchmark rate steady at today's FOMC meeting
The Fed is maintaining its benchmark interest rate in the range of 4.25% to 4.5%, where it's been parked since December.
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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.
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 said it is cutting rates by 0.25 percentage points, its second rate cut of the year.
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.
This month's report reflects a lot of noise due to hurricanes, Boeing machinists strike.
The Federal Reserve just lowered its benchmark rate by 0.50 percentage points. Here's how the move could impact your finances.
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 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.
I-94 has reopened at West Grand Boulevard after an overnight crash in Wayne County.
Chicago collected 11 hits while improving to 23-10 in its last 33 games, bouncing back nicely after losing 8-6 in 10 innings in the series opener on Monday night.
Detroit police are investigating after they say two men and a woman were hurt in a drive-by shooting on Tuesday.
The continuing resolution would fund the federal government until Dec. 4. It now heads to the Senate, where it could face obstacles.
Trump accused Canada of unfairly discriminating against U.S. automobiles, alcohol and dairy products, escalating tensions with one of the United States' closest allies.
Trump accused Canada of unfairly discriminating against U.S. automobiles, alcohol and dairy products, escalating tensions with one of its closest allies.
Detroit police are investigating after they say two men and a woman were hurt in a drive-by shooting on Tuesday.
I-94 has reopened at West Grand Boulevard after an overnight crash in Wayne County.
The continuing resolution would fund the federal government until Dec. 4. It now heads to the Senate, where it could face obstacles.
Bloomfield Township police released footage of the retail theft, asking for the public's help in identifying the group.
Many newer vehicles are equipped with high-efficiency cabin air filters capable of capturing a significant amount of fine particulate matter.
Lawmakers in Michigan are working to push legislation that would stiffen penalties on noisy vehicles with exhaust modifications.
As the United States marks its 250th birthday, Ford Motor Company is showcasing more than a century of automotive history in a new exhibit that explores the company's role in shaping America.
The Detroit Auto Show has spent more than a century evolving alongside the auto industry. It has grown from a small, local exhibition into one of the world's premier automotive events.
The Pontiac Star Car Reunion at the Oakland Expo Center features a wide range of vehicles.
Behind every video is a true family effort.
Concerns surrounding air quality are prompting event organizers across Metro Detroit to make adjustments to their festivities or cancel altogether.
The few who aren't open for business on Thursday say it's out of concern for their employees' health and to protect their art.
Bonnie Tyler, the Welsh pop star best known for singing the chart-topping power ballad "Total Eclipse of the Heart" in 1983, has died. She was 75.
The nominations for the 78th annual Primetime Emmy Awards were announced Wednesday morning in Los Angeles, with the final season of HBO Max's "Hacks" setting a new record for the most nominations in a single year for a comedy series.
The continuing resolution would fund the federal government until Dec. 4. It now heads to the Senate, where it could face obstacles.
Trump accused Canada of unfairly discriminating against U.S. automobiles, alcohol and dairy products, escalating tensions with one of the United States' closest allies.
Thirty percent of respondents said they shoplifted this year, with most citing affordability concerns and financial hardship.
Three in four American households lack the wealth to weather financial setbacks and achieve major life milestones.
The recall affects certain 2020-2027 Aviator and 2020-2026 Explorer vehicles.
The number of cyclosporiasis cases in Michigan continues to grow in the hundreds each day as health officials track a parasite that can cause diarrhea and nausea after contaminated food is eaten.
While the U.S. Food and Drug Administration is still working to identify the source of a parasite that has caused a cyclosporiasis outbreak, a Michigan doctor says officials are closer than you think to solving the case.
The number of cyclosporiasis cases in Michigan continues has topped 6,100 as an investigation into the origin of the parasite in the food supply continues.
A statewide air quality alert for Michigan is in effect through Monday due to wildfire smoke, according to the state's Department of Environment, Great Lakes, and Energy.
Taylor Farms said none of its branded salads or kits contain the iceberg lettuce associated with the outbreak.
Chicago collected 11 hits while improving to 23-10 in its last 33 games, bouncing back nicely after losing 8-6 in 10 innings in the series opener on Monday night.
U-M President Domenico Grasso announced Monday that Manuel will leave the role by the end of the year, as a third-party culture review found failures to act on allegations of wrongdoing within the athletic department.
A Detroit nonprofit's annual summer celebration was in jeopardy after 400 pairs of shoes were stolen from its warehouse. Thanks to the community, Hoopfest was able to move forward.
Ryan Johnson struck out five and allowed one run in five solid innings, Jorge Soler and Zach Neto delivered RBI hits and the Los Angeles Angels snapped a four-game skid with a 3-2 win over the Detroit Tigers.
Spain dominated the match, outshooting Argentina 20-3, but couldn't manage a goal in regulation — finally scoring in the second period of extra time.
The conversation turns to rising auto insurance rates across Michigan and new legislative bills in Lansing that would help stem the tide.
The Democratic side of the aisle had an intriguing development earlier this week when state Rep. Mallory McMorrow suddenly dropped out of the contest
Former NBA All-Star/entrepreneur Jalen Rose, DTE's Trevor Lauer and Oakland University president Ora Hirsch Pescovitz headline an all-star Michigan Matters episode.
Mark Hollis, COO of Rocket Entertainment and tournament director of the PGA Tour's Rocket Classic, appears on Michigan Matters.
Former U.S. Energy Secretary and Michigan Gov. Jennifer Granholm appears exclusively on CBS Detroit's Michigan Matters.
U.S. Department of Health and Human Services Secretary Robert F. Kennedy Jr. made his first public comment on the growing cyclosporiasis outbreak in Michigan and other states on Tuesday, declaring it under control and denying that cutbacks to monitoring activities have hurt U.S. food safety.
Defense Secretary Pete Hegseth told lawmakers Tuesday the U.S.-Iran war has cost about $37.5 billion so far, as the Trump administration asks Congress to approve additional Pentagon funding. CBS News has this report.
Three people were shot on Detroit's east side. A joint U.S.-Canada event to celebrate the Gordie Howe Bridge will not take place. Those headlines and other top stories are in the CBS Detroit news brief.
Happy Hump Day Fam!! Did you take a deep breath of FRESH AIR this morning?! Looking at good air quality and cooler temps today as the cold front did its job by pushing the smoke away and brought much cooler refreshing air. Mostly sunny today, high 75°. More sun expected heading into the weekend with temps warming back into the mid to upper 80’s by Sunday. Next chance for rain arrives Sunday evening.
U.S. forces continue to attack Iran for an 11th straight day. The update comes as Defense Secretary Pete Hegseth revealed the growing cost of the U.S. conflict with Iran.