The Fed rate decision meeting is today. Here's their rate decision.
Inflation-weary consumers have also been slammed by high borrowing costs, but the Fed is cautious about sticky inflation.
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.
Although inflation has slowed sharply, Fed officials are again tapping the brakes to ensure the economy slows.
After raising rates from zero to 5% in 15 months, the central bank is pausing to assess the economic impact of monetary tightening.
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
Latest hike brings the U.S central bank's benchmark interest rate to its highest level in 16 years.
Central bank officials will announce on Wednesday if they are hiking the federal funds rate for a 10th consecutive time.
The regional lender, whose collapse is the second-biggest bank failure in U.S. history, is the third bank to be seized by regulators since March.
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.
Hundreds of thousands of dollars in losses, over half of a cherry crop loss and one Metro Detroit fruit farm is trying to remain optimistic about the future of the fruit growing in Southeast Michigan
A 78-year-old Chicago man was found guilty in the presumed death of his 8-month-old daughter, who was last seen more than 40 years ago in Metro Detroit.
A Wayne County Circuit Judge ruled that Michael Jackson-Bolanos will face trial in the death of Detroit synagogue president Samantha Woll, despite the defense challenging a district court ruling,
Peggy Means' only daughter was in a coma with virtually no chance of ever coming out of it, doctors told her. And yet, Means refused to let them pull the plug.
Ahead of Mother's Day, the Pontiac Housing Commission handed over the keys to a recently renovated home to a single mother and her two young children on Friday.
Hundreds of thousands of dollars in losses, over half of a cherry crop loss and one Metro Detroit fruit farm is trying to remain optimistic about the future of the fruit growing in Southeast Michigan
There is no update on when systems will be restored after a cyberattack was detected at Ascension hospitals nationwide on Wednesday.
Jon Urbanchek, an iconic swimming coach who spent time leading the Wolverines and Olympians, has died. He was 87.
A restaurant in Detroit was named the most beautiful in Michigan, according to a list published in People Magazine.
A 78-year-old Chicago man was found guilty in the presumed death of his 8-month-old daughter, who was last seen more than 40 years ago in Metro Detroit.
United Auto Workers union members at Stellantis' Warren Stamping Plant voted on Monday to authorize a strike over health and safety concerns.
Members of UAW Local 869 are scheduled to vote on May 6 over safety concerns at the plant.
Technology originally developed for homeland security is now available in Michigan to inspect every inch of your car. Developers say UVeye is like getting an MRI for your vehicle.
A bill introduced to the Michigan Legislature is looking to decrease noise pollution around Metro Detroit, more particularly along Woodward Avenue.
Ford Motor Co.'s first-quarter net income fell 24% from a year ago as the company's combustion engine vehicle unit saw revenue and sales decline.
Prince Harry and Meghan are in Nigeria for a 3-day tour at the invitation of the African nation's military.
Taylor Swift's The Eras Tour began its European leg with four dates at the La Defense Arena in Paris with a revamped setlist.
This will be the first baby for Hailey and Justin Beiber, who announced their pregnancy after more than five years of marriage.
UmaSofia Srivastava resigned as Miss Teen USA on Wednesday, just two days after Noelia Voigt stepped down as Miss USA.
Brian Fox, a fellow producer and engineer at Albini's Electrical Audio studio in Chicago, confirmed Albini passed away Tuesday night from a heart attack.
Peggy Means' only daughter was in a coma with virtually no chance of ever coming out of it, doctors told her. And yet, Means refused to let them pull the plug.
The $5 meal could include a choice of a McChicken, a McDouble or four-piece chicken nuggets along with fries and a drink.
Maggie Steffens asked for more support for the U.S. women's water polo team, and the captain received one surprising response: Flavor Flav.
Bailey Boswell was convicted of murder in the 2017 death of Sydney Loofe. Boswell's boyfriend was also convicted and sentenced to death.
Jon Urbanchek, an iconic swimming coach who spent time leading the Wolverines and Olympians, has died. He was 87.
The fitness chain's $10 monthly membership is one of few things that had remained unchanged since 1998 — until now.
Elon Musk's Neuralink finds a brain-computer interface device captured less data a month after implant surgery.
A Metro Detroit mother wants her 1-year-old transferred to a hospital out of state after she says she raised concerns about her daughter's care at Children's Hospital of Michigan.
An 11-year-old boy in Warren has made medical history. He is one of two children in the world to receive an experimental gene therapy procedure to restore vision.
Panera is phasing out a highly caffeinated selection of lemonade beverages that's at the center of several lawsuits.
Maggie Steffens asked for more support for the U.S. women's water polo team, and the captain received one surprising response: Flavor Flav.
The weather was perfect for the regional Special Olympics held at Macomb County Community College in Warren.
The Olympic flame arrived in France aboard a 19th century tall ship to kick off a 7,500-mile journey to the Paris Summer Games.
Detroit will officially debut its uniforms at Comerica Park on Friday against the Houston Astros.
Here are the different ticket options fans can now purchase for the 2024 Rocket Mortgage Classic.
The roundtable discusses mobility and the importance of marque events like the 2024 NFL Draft, the Detroit Auto Show and more.
By the time this presidential race is over, Biden, Trump and their entourages may not need Michigan driver's licenses, but they'll know their way around and where the orange barrel construction zones are enough to void them on their way to campaign events.
The Motor City is putting the final touches in place for the 2024 NFL Draft as it rolls into Detroit next week.
Michael Bickers, Regional President of PNC Southeast Michigan/Detroit, and Eric Poe, CEO of CURE Auto Insurance, appeared on CBS Detroit's Michigan Matters.
Businesses across Michigan are feeling optimistic about the future after weathering the historic 100-year health pandemic that impacted every company in one way or another.
You might get another chance to see the northern lights overnight, and there's lots of sunshine heading our way for Mother's Day.
Hundreds of thousands of dollars in losses, over half of a cherry crop loss and one Metro Detroit fruit farm is trying to remain optimistic about the future of the fruit growing in Southeast Michigan
Dozens of high school girls will be playing flag football at Ford Field starting Saturday. Chris Fritzsching, executive director of football education with the Detroit Lions, joined CBS News Detroit to talk about the league.
A dog from Ferndale will compete in the 2024 Westminster Dog Show in New York. Samantha Gibson joined CBS News Detroit with her dog Clyde to talk about the upcoming competition this weekend.
Detroit Mike Duggan joined city officials to mark a milestone in the city's efforts to replace lead service lines. Sam Smalley, deputy director of the Detroit Water and Sewerage Department, joined CBS News Detroit to the city's progress.