Fed is boosting rates again. What it means for your wallet.
The central bank boosted interest rates for the seventh time this year, which means pricier debt and loans.
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The central bank boosted interest rates for the seventh time this year, which means pricier debt and loans.
Rates are at their highest level in 15 years as policymakers try to tamp down inflation without torpedoing the economy.
Each week brings head-scratching contradictory news about the economy. This past week was no different, with a batch of economic reports showing that — despite the recession talk — the US economy shows remarkable resilience.
It's never a great time to carry credit card debt. But right now is arguably the worst time.
Stocks rose in afternoon trading on Wall Street Tuesday as Americans head to the polls to vote in midterm elections that are being heavily influenced by inflation and the threat of a recession.
A measure of inflation that is closely monitored by the Federal Reserve remained painfully high last month, the latest sign that prices for most goods and services in the United States are still rising steadily.
Borrowing costs rose to their highest level in 14 years, and more interest-rate hikes are likely, Fed signaled.
Short term interest rates are going up a quarter of a percent.
President Barack Obama is nominating economist Kathryn Dominguez to serve on the Federal Reserve's board of governors.
U.S. stocks surged Thursday after the Federal Reserve unveiled a long-awaited package of aggressive steps to spur economic growth.
On Monday, the Treasury Department sold 553,846,153 shares in AIG on Monday, turning an $18 billion profit on the $32.50 a share price.
Americans increased their borrowing in December for the second straight month
The Federal Reserve, looking to provide a boost to a modestly growing economy, said Wednesday that it's unlikely to raise interest rates before late 2014.
Policy deciders at the Federal Reserve are expected to announce Wednesday afternoon whether the central bank will make moves to stimulate the economy.
The Federal Reserve says it will likely keep interest rates at record lows for the next two years after acknowledging that the economy is weaker than it had thought, with increasing risks.
A new e-mail claiming to be from the Federal Reserve is hitting corporate in boxes around the country seeking to infect computers with malware. The Better Business Bureau of Detroit and Eastern Michigan is alerting businesses not to fall for this phishing attack.
The Federal Reserve sizes up the economy in a two-day policy meeting which concludes Wednesday.
Cade Cunningham had 13 of his 29 points in the fourth quarter and the Detroit Pistons rallied to beat the Portland Trail Blazers 122-116 on Friday night.
In Oakland County, Michigan, some scammers are working hard to make sure their pockets end up delightful this holiday season.
A 71-year-old Michigan man is in critical condition after suffering a medical emergency, causing him to strike a utility pole in Macomb County.
Michigan Army veteran Ed Bambas, 88, started working again after losing his pension. But thanks to the kindness of strangers, he received a life-changing gift to allow him to retire a second time.
The Plymouth Township Police Department says it is investigating a "suspicious situation" after a man allegedly approached two middle school students while holding a pocket knife.
A former autoworker was given back his retirement through the kindness of strangers.
Southeast Michigan has a couple of chances for snow over the weekend.
Legionella bacteria were found through water testing in the building late Thursday after an employee was diagnosed with Legionnaires' disease.
Cade Cunningham had 13 of his 29 points in the fourth quarter and the Detroit Pistons rallied to beat the Portland Trail Blazers 122-116 on Friday night.
In Oakland County, Michigan, some scammers are working hard to make sure their pockets end up delightful this holiday season.
Slower adoption of electric vehicles was cited as the reason for pending layoffs at GM's Factory Zero.
Yanfeng will close its Romulus production facility, located at 9800 Inkster Road.
In Metro Detroit, drivers are paying about $3.06 per gallon, which is 1 cent more than last week but 3 cents less than at the same time a year ago.
Most of the intersections and roundabouts that made the 2024 list are in Southeast Michigan.
Avancez said a change in customer orders will result in layoffs during December at its Hazel Park location.
Frank Gehry was known for designing the Guggenheim Museum Bilbao in Spain and the Walt Disney Concert Hall in Los Angeles.
Netflix on Friday said it will acquire Warner Bros., including its film and television studios, HBO Max and HBO.
RoboCop has found a permanent home in Detroit — all 11 feet and 3,500 pounds of him.
Stoppard was often hailed as the greatest British playwright of his generation.
More than 75 dazzling displays lined up to march down Woodward Avenue, led by Detroit Mayor Mike Duggan, who served as grand marshal for the parade.
Frank Gehry was known for designing the Guggenheim Museum Bilbao in Spain and the Walt Disney Concert Hall in Los Angeles.
The Supreme Court said Friday it will decide the legality of President Trump's executive order that seeks to end birthright citizenship.
Michigan State has received a $401 million gift from Greg and Dawn Williams, supporting the university's and athletic department's fundraising initiatives with the largest donation to the school and one of the richest in college sports history.
The CDC's Advisory Committee on Immunization Practices, with members appointed by RFK Jr., voted to change longstanding recommendations on the hepatitis B vaccine.
A former autoworker was given back his retirement through the kindness of strangers.
Many people living with MS are limited from taking nature walks shown to improve mental health, so Hala Darwish is bringing Mother Nature to them.
Legionella bacteria were found through water testing in the building late Thursday after an employee was diagnosed with Legionnaires' disease.
The new guidelines are effective at all DMC locations, including the Children's Hospital of Michigan.
The sheriff's office says closure for Building 38E is effective Friday through the weekend.
Women who have a doula are 47% less likely to have a cesarean delivery and a 29% lower chance of having a preterm delivery, according to a study published in the National Library of Medicine.
Cade Cunningham had 13 of his 29 points in the fourth quarter and the Detroit Pistons rallied to beat the Portland Trail Blazers 122-116 on Friday night.
Detroit Lions safety Brian Branch tore his left Achilles tendon against the Dallas Cowboys, according to a person familiar with the situation.
Michigan State has received a $401 million gift from Greg and Dawn Williams, supporting the university's and athletic department's fundraising initiatives with the largest donation to the school and one of the richest in college sports history.
Jahmyr Gibbs and the Detroit Lions have beaten the Dallas Cowboys to stay atop the NFC wild-card race.
Adam Fantilli tied it with 1:31 left in the regulation with his second goal of the game, Kirill Marchenko had the shootout winner and the Columbus Blue Jackets beat the Detroit Red Wings 6-5 on Thursday night.
The Detroit show will attract hundreds of thousands to the area as automakers, tech companies and more gravitate to downtown Detroit.
This week on Michigan Matters, Carol Cain speaks with retail owners and entrepreneurs ahead of the holiday season.
Hundreds of thousands will line up along Woodward Avenue for America's Thanksgiving Parade in Detroit.
This week's roundtable discusses the economic outlook as the critical fourth quarter of 2025 plays out.
Detroit City Council President Mary Sheffield was overwhelmingly elected as mayor.
Businesses in Oakland County are dealing with customers using fake cash this holiday shopping season. CBS News Detroit's Terell Bailey spoke with a business owner in Oxford whose store was hit.
An 88-year-old Army veteran from Michigan went viral after sharing his story about having to find work after losing his pension. After a GoFundMe raised over $1 million, Ed Bambas was surprised with the check on Friday.
Light snow arrives on Sunday morning to kick off a week of on-and-off snow showers.
For this week's Furry Fridays, meet Zade and Pumpkin! You can find these two pets and more at Michigan Humane.
A University of Michigan professor is getting national recognition for her research aimed at relieving depression symptoms in people living with multiple sclerosis, and she's doing it not with antidepressants or pharmaceuticals, but with technology and nature.