Federal Reserve hikes its key interest rate a quarter point
The U.S. central bank eases up its efforts to curb inflation amid concerns about banking industry risks.
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The U.S. central bank eases up its efforts to curb inflation amid concerns about banking industry risks.
Inflation's still high, but analysts warn that further rate hikes from the Fed could lead more more banks to topple.
All deposit accounts at Silicon Valley Bank and Signature Bank in New York will be guaranteed, the Federal Reserve, Treasury Dept. and FDIC said in a joint statement.
Can the Fed keep raising interest rates and defeat the worst bout of inflation in 40 years without causing a slump?
While the central bank is slowing its rate increases, Jerome Powell told investors not to expect lower rates this year.
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.
Michigan coach Dusty May has agreed on a deal that will have him continuing to lead the Wolverines "for many years to come," according to athletic director Warde Manuel.
Riley Greene had a three-run homer and four RBIs, Drew Anderson ended the game by retiring Jakob Marsee in a 14-pitch at-bat for his first major league save and Detroit beat the Miami Marlins 6-1 to get A.J Hinch his 400th win as Tigers manager.
A 5% increase in housing and dining rates at Michigan State University for the 2026-2027 academic year has been approved by the Board of Trustees, officials said Friday.
The destroyers were beginning mine-clearing operations in the vital waterway, U.S. Central Command said Saturday.
Multiple people have been detained after a reported shooting in Birmingham, Michigan, on Saturday morning, according to police.
The University of Michigan men's basketball team hosted an on-campus parade and celebration Saturday after winning the 2026 NCAA national championship.
Michigan coach Dusty May has agreed on a deal that will have him continuing to lead the Wolverines "for many years to come," according to athletic director Warde Manuel.
Multiple people have been detained after a reported shooting in Birmingham, Michigan, on Saturday morning, according to police.
Officials are working on creating safe spaces in Detroit for youth because Mayor Mary Sheffield says the city is for everyone, including teens.
What is called the "moon tree" all began with a deal between NASA and an elementary school that used to be in the Ferndale neighborhood.
At a gas station in Detroit, owner Mohamad Mallah, known to customers as Big Moe, decided to give back in a big way.
On average, drivers in the state are paying $3.87 per gallon for regular unleaded fuel.
Michigan Gov. Gretchen Whitmer has declared an energy emergency in eight Southeast Michigan counties amid rising gas prices across the state.
General Motors has announced that it's making another round of layoffs at its Factory Zero plant in Metro Detroit. The latest round, the second this year, impacts roughly 1,300 workers and is due to a readjustment of operations amid declining electric vehicle demand.
Cities in Michigan lose big tax revenue from pollution-control tax breaks, and many do not track what they give up.
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.
The bag, called the "Gold Standard Cassette Tape," features a bold, nostalgic design inspired by classic cassette tapes.
The destroyers were beginning mine-clearing operations in the vital waterway, U.S. Central Command said Saturday.
Jalen Duren had 20 points, Duncan Robinson scored 19 and the Detroit Pistons beat Charlotte 118-100, locking the Hornets into the play-in tournament.
Detroit Tigers center fielder Parker Meadows has been sent to a hospital for overnight observation after a head-to-head collision with teammate Riley Greene.
Detroit's Kenley Jansen put Miami down in order in the ninth inning and moved into a tie for third in MLB history with his 478th save, Javier Baez homered and the Detroit Tigers beat the Miami Marlins 2-0 on Friday night to end a five-game skid.
Transportation Secretary Sean Duffy pointed out that gamers "have many of the hard skills it takes to be a successful controller."
Autism in the D is hosting a "Weekend of Inclusivity," featuring two events aimed at supporting families and highlighting gaps in autism resources across the city.
Dominic Weber and Haylie Reeves met at North Star Reach as campers in 2016.
The Detroit Health Department is hosting a Public Health Week through Saturday, April 11, to provide resources in neighborhoods.
The Michigan Department of Health and Human Services is encouraging parents to consider moving up their children's vaccines against the measles in seven counties.
Many Michigan teens in severe mental health crises are sent far from home for treatment due to a lack of local resources.
Michigan coach Dusty May has agreed on a deal that will have him continuing to lead the Wolverines "for many years to come," according to athletic director Warde Manuel.
Riley Greene had a three-run homer and four RBIs, Drew Anderson ended the game by retiring Jakob Marsee in a 14-pitch at-bat for his first major league save and Detroit beat the Miami Marlins 6-1 to get A.J Hinch his 400th win as Tigers manager.
The University of Michigan men's basketball team hosted an on-campus parade and celebration Saturday after winning the 2026 NCAA national championship.
Jalen Duren had 20 points, Duncan Robinson scored 19 and the Detroit Pistons beat Charlotte 118-100, locking the Hornets into the play-in tournament.
Detroit Tigers center fielder Parker Meadows has been sent to a hospital for overnight observation after a head-to-head collision with teammate Riley Greene.
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.
Dave Coulter updates Oakland County's move to its new offices in downtown Pontiac and when that might take place.
Gardner White opened doors in Detroit in 1912, and the retailer continues to expand with nine new stores planned this year.
Rose talks about a new TV series being filmed in Detroit called "South West High," which revolves around a fictional high school in the Motor City.
The University of Michigan men's basketball team hosted an on-campus parade and celebration Saturday after winning the 2026 NCAA national championship.
An unassuming tree in Ferndale's Wilson Park has more history than any other in the area. What is called the "moon tree" all began with a deal between NASA and an elementary school that used to be in the Ferndale neighborhood.
The Artemis II crew made its back on Earth after a historic moon mission.
Cecilia Smith and her husband were left scratching their heads after they say a woman walked into their Garden City, Michigan, home on Wednesday and stayed inside for several minutes before driving away. On Friday, one day after CBS News Detroit sat down with Smith, the couple contacted the newsroom and said the woman was identified as a hospice nurse who went to the wrong house.
A Detroit firefighter has been charged with allegedly driving while drunk, causing a crash that killed an 85-year-old woman in Roseville.