Trump is taking aim at borrowing costs. Will it work — or backfire?
President Trump's plans to ease the financial pressures on Americans are bold but could backfire, experts said.
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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.
President Trump called on Fed Governor Lisa Cook to resign on Wednesday after one of his appointees accused her of mortgage fraud.
Federal Reserve Chair Jerome Powell has been under pressure from President Trump to lower the central bank's benchmark interest rate.
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.
With Southeast Michigan experiencing a mix of snow and frigid temperatures, drivers have to prepare themselves for what the road conditions could look like.
Dangerous cold air is likely to wrap up this week and kick off the weekend in Southeast Michigan.
Dr. Devon Hoover was found dead in the attic of his home in Detroit's Boston-Edison neighborhood in April 2023.
The James Beard Foundation has announced its 2026 semifinalist list, which includes chefs and venues from Michigan.
A nurse who is already under investigation over reported sexual assaults faces multiple charges in five new cases, Wayne County Prosecutor Kym Worthy said.
Dr. Devon Hoover was found dead in the attic of his home in Detroit's Boston-Edison neighborhood in April 2023.
Dangerous cold air is likely to wrap up this week and kick off the weekend in Southeast Michigan.
A nurse who is already under investigation over reported sexual assaults faces multiple charges in five new cases, Wayne County Prosecutor Kym Worthy said.
With Southeast Michigan experiencing a mix of snow and frigid temperatures, drivers have to prepare themselves for what the road conditions could look like.
A 3-year-old Warren boy is getting hospital treatment in the aftermath of an accidental shooting, police say.
U.S. Secretary of Transportation Sean Duffy, who stopped at the Detroit Auto Show, claimed that efforts by the administration to reverse the Biden-era electric vehicle policies will make cars more affordable again, including rolling back fuel efficiency standards.
On average, drivers in the state are paying $2.96 per gallon for regular unleaded fuel.
The 2026 Detroit Auto Show opened to the public on Saturday. Some people at the show think the Trump administration is doing a good job of making cars more affordable. Others disagree.
The Detroit Auto Show's Charity Preview is Friday night, and CBS News Detroit is taking you there.
The North American International Auto Show in Detroit once dedicated an entire track on its coveted show floor to getting consumers comfortable with electric vehicles and charging.
The James Beard Foundation has announced its 2026 semifinalist list, which includes chefs and venues from Michigan.
The 2026 Songwriters Hall of Fame inductees were revealed on "CBS Mornings" on Wednesday. See the full list.
Milford Independent Cinema has been a staple in its southeast Michigan community for decades.
In a video provided to TMZ on Tuesday, Timothy Busfield said the allegations "are all lies."
Scott Adams, the cartoonist who created the "Dilbert" comic strip, has died at the age of 68, his first ex-wife revealed on Tuesday.
President Trump moved to fire Lisa Cook from the Federal Reserve Board of Governors last August. Courts have so far allowed her to continue serving in her role while litigation continues.
Ford is recalling roughly 119,000 vehicles because their engine block heaters have a defect that increases the risk of fire, the National Highway Traffic Safety Administration says.
A car wash chain beat out bigger employers such as Google and Nvidia to take the top spot as the best place to work in 2026.
As intense debate continues throughout the country regarding the U.S. Immigration and Customs Enforcement, some Metro Detroit communities are informing each other about what to do if they interact with ICE agents.
After returning to Joint Base Andrews, President Trump departed for Davos about one hour later aboard a second aircraft.
Officials in Oakland County, Michigan, say they will establish a committee in an effort to strengthen long-term water safety after Legionella bacteria were detected at two different area facilities last month.
While the termination of these substance abuse and mental health service funds is now reversed, the 48-hour rollercoaster is creating uncertainty and distrust from organizations relying on those dollars.
The U.S. House of Representatives approved Thursday a three-year extension of subsidies for the Affordable Care Act.
Michigan health officials say only 23% of Michigan residents have received this year's influenza vaccine.
The CDC took six previously routine vaccinations off its recommendation list, but Michigan health officials suggest parents consider those immunizations anyway.
Tobias Harris scored 25 points and Jaylen Brown missed a jumper just before the buzzer, allowing the Detroit Pistons to hold on for a 104-103 win over the Boston Celtics in a matchup of teams with the best records in the Eastern Conference.
With Cooper Schoenberg and Carter Lutz's respective schools, Indiana and Miami, playing on Monday for the College Football Playoff title, it is putting that bond to the test.
The Lions are set to hire Arizona Cardinals' offensive coordinator Drew Petzing as Detroit's next OC, a source told CBS Sports.
Alex DeBrincat scored 36 seconds into overtime to give the surging Detroit Red Wings a 4-3 win over the Ottawa Senators.
From being treated like "cattle" as a young girl to sleeping in her car off a Polish highway, Allison Reed has taken a long, hard road to follow her Olympic ice dance dream.
Penske and Reuss address a wide range of critical issues for Detroit, Michigan and the nation.
Huntington Place CEO Bryan Crowe and his team have been preparing to welcome hundreds of thousands of visitors to the Detroit Auto Show this week.
The focus is on health, as Dusty Mysen, a father of four from Oxford, diagnosed with pancreatic cancer several years ago, who underwent aggressive therapy, is now cancer-free five years later.
The roundtable discusses efforts by political and corporate leaders to raise the bar and improve K-12 education with a focus on raising reading scores.
With one in eight adults at risk for kidney disease, Dr. Silas Norman, a University of Michigan doctor specializing in kidney health, and Sandy Baruah, President and CEO of Detroit Regional Chamber, appear on Michigan Matters.
A man charged in the April 2023 murder of prominent Detroit neurosurgeon Dr. Devon Hoover pleaded guilty Wednesday to second-degree murder.
At certain temperatures and especially with wind chill, one specialist in emergency medicine said it can take minutes for frostbite or hypothermia to set in.
When it comes to snow removal it’s all about timing. Road crews in Oakland and Wayne counties have more than 250 snow plows combined.
The Supreme Court appeared likely to allow Lisa Cook to keep her position on the Federal Reserve Board of Governors and reject President Trump's attempt to fire her for now.
President Trump said on Wednesday that he has "formed the framework of a future deal" concerning Greenland after meeting with NATO Secretary-General Mark Rutte.