Investors are panicked over banks. Will the Fed make things worse?
Inflation's still high, but analysts warn that further rate hikes from the Fed could lead more more banks to topple.
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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.
Some Republican state lawmakers and health associations are pushing back against spending plans under the Trump administration's $50 billion federal rural health fund.
Many people in Michigan have ties to Iran, and they're watching the war closely.
The shooting is the second in two days involving a child and an unsecured gun. Firearm safety activists say the shootings could have been prevented by following Michigan's safe storage law.
Zeke IV, a beloved dog and mascot at Michigan State University for nearly 10 years, has died.
Prosecutors say the woman allegedly forged a quitclaim deed transferring the victim's property to her and sold the property a month later.
President Trump said he expects the bombing campaign to last four to five weeks, but "we have [the] capability to go far longer than that."
The shooting is the second in two days involving a child and an unsecured gun. Firearm safety activists say the shootings could have been prevented by following Michigan's safe storage law.
One person is in custody while police continue to investigate the circumstances of a toddler who was found Saturday, crying inside an impounded car in Metro Detroit.
Many people in Michigan have ties to Iran, and they're watching the war closely.
A 6-year-old girl was fatally injured during an accidental gunshot on Monday in a shopping center parking lot in Detroit.
For the first time in 15 years, Stellantis is not issuing a profit-sharing distribution to UAW-represented employees.
Union Vice President Laura Dickerson confirmed that the worker, TJ Sabula, "has no discipline on his record."
Some General Motors employees are taken aback by this year's profit-sharing checks, with it being $4,000 less than the previous one.
While many assume a "harsh" winter, or this bone-chilling, sustained cold, is the enemy of asphalt, the real culprit is temperature fluctuation.
In Metro Detroit, drivers are paying about $2.90 per gallon, which is 2 cents less than last week and 29 cents less than at the same time last year.
Hillary Knight, Megan Keller and Jack and Quinn Hughes made a surprise appearance during "Heated Rivalry" star Connor Storrie's opening monologue on "SNL."
Singer-songwriter Neil Sedaka, known for his hits like "Laughter in the Rain," "Breaking Up is Hard to Do" and "Calendar Girl," has died.
A 19th-century George Méliès film, thought to be long lost, has been found among a box of brittle movie reels that a Michigan donor brought to the Library of Congress, officials said.
Streaming giant Netflix declined to match Paramount Skydance's $31 per share offer for Warner Bros. Discovery.
The Rock & Roll Hall of Fame has announced its 2026 list of nominees, including Phil Collins, Mariah Carey, Wu-Tang Clan and more.
Many people in Michigan have ties to Iran, and they're watching the war closely.
More employees are clinging to their positions in a trend known as "job-hugging." That's making it harder for job-seekers to find work.
U.S. motorists could soon see higher prices at the pump as oil prices surge following the attacks in Iran.
President Trump said he expects the bombing campaign to last four to five weeks, but "we have [the] capability to go far longer than that."
The Pentagon announced Monday that six American service members have been killed in Operation Epic Fury.
Detroit Mayor Mary Sheffield on Monday appointed former Dearborn Public Health Officer Ali Abazeed as Detroit's new chief public health officer.
Lawmakers say Green Alerts won't just help bring veterans to safety, but also national guard and active service members.
USALESS.COM is recalling its Rhino Choco VIP 10X product due to the undeclared presence of Tadalafil, which is the active ingredient in Cialis.
There are a few steps to get an exemption for a required vaccine here in Michigan and a group of Republican lawmakers want to make sure it doesn't get any more difficult in the future.
Michigan lawmakers required schools to adopt a cardiac emergency response plan for the current school year if the Legislature appropriated "sufficient funds," but funding wasn't dedicated in the education budget.
The Detroit Lions are shaking up their offense with the release of offensive lineman Graham Glasgow on Monday.
The Lions are trading running back David Montgomery to the Texans in exchange for offensive lineman Juice Scruggs, according to CBS Sports.
Detroit SportsNet, a newly launched cable/satellite television channel, will be the broadcast home of the Tigers and the Red Wings.
Cade Cunningham had 29 points and 11 assists, Tobias Harris scored 23 points and the NBA-leading Detroit Pistons beat the Orlando Magic 106-92 on Sunday night for their sixth straight road victory.
Over sixty teams competed at a Special Olympics Michigan basketball tournament on Sunday at Legacy Sports Complex in Brighton.
Penske, a business and racing legend, turns 89 on Feb. 20 and is celebrating his 60th year in racing during 2026.
Claressa Shields talks about giving back to the community and her efforts to increase equity for women in sports.
The roundtable discusses the impact of the high-profile game for advertisers, including Detroit-based Rocket and Redfin.
Could a new entertainment tax and a new sales tax be ahead for the Motor City?
As the 2026 Detroit Auto Show wraps up Sunday, the roundtable discusses the signature event and standout moments from the past two weeks.
U.S. Secretary of State Marco Rubio held a briefing Monday on the military action in the Middle East, warning that the next phase of operations could be even more punishing for Iran. CBS News has this update
The next phase of the M-14 / I-96 construction begins Tuesday morning. Here's what commuters can expect.
Good morning, Family! Looking at mild temps heading our way through the week. Today, a slim chance for drizzle this morning then mostly cloudy with a high around 40. Temps continue to climb to the mid 60's by Saturday!!
Hasti Raveau, an Iranian American, has family all across the country of Iran. Raveau said her family has been prepared for an attack like this by stocking up on food and medicine.
The shooting is the second in two days involving a child and an unsecured gun. Firearm safety activists say the shootings could have been prevented by following Michigan's safe storage law.