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In the mid-1970s inflation was so high, the president referred to it as "public enemy #1" – and turned to Madison Avenue to come up with an ad campaign and rallying cry, "Whip Inflation Now."
The job market remains strong — a good sign for workers but a blow to the Fed's efforts to cool inflation.
Should Fed's rate hikes cause a recession, a jump in layoffs and unemployment claims would be an early sign.
Almost 4 in 10 of consumers who went into debt expect it will take at least five months to pay off their bills.
The minimum salary people want has risen to 8-year high, reflecting a hot job market and high cost of living, a survey says.
Seniors and other recipients are getting the biggest bump since 1981. But tax and Medicare issues may complicate things.
Rates are at their highest level in 15 years as policymakers try to tamp down inflation without torpedoing the economy.
Punishing inflation is forcing many people to economize this holiday season, while some are skipping gifts altogether.
Price increases are slowing but have a long way to go before hitting the Federal Reserve's 2% target.
Sharp drop in average gas prices signals that this year's breakneck pace of inflation is cooling.
Inflation dropped to still-high 6%, likely bolstering Fed's resolve to keep raising interest rates well into 2023.
Rising inflation could cause tighter budgets for some families as others may wonder how generous they can be.
It's estimated more gift buyers are likely to shop on Small Business Saturday than Black Friday this year.
Thanksgiving dinner will cost a whopping 20% more than it did last year, according to a new survey released Wednesday by the American Farm Bureau Federation.
You might have found the perfect house, but between the price and the interest rate, you're not sure if you should buy.
It's never a great time to carry credit card debt. But right now is arguably the worst time.
Inflation? High gas prices? American gamblers are shrugging them off — and losing money at casinos at a record pace.
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.
With cost of groceries not slowing down, businesses like Detroit Cookie Co. continue fighting off food inflation.
Every time Amy Johnson turns on the water, she is thinking about her water bill. It's $13,000. How is that even possible?
Borrowing costs rose to their highest level in 14 years, and more interest-rate hikes are likely, Fed signaled.
Former U.S. Ambassadors John Rakolta Jr. and David Fischer appear on CBS 62's "Michigan Matters" this Sunday to talk about their time in those diplomatic jobs and how they ended up helping the Abraham Accords get signed.
The Southeast Michigan Purchasing Managers Index for September is at 50.6, up nearly five points from the August PMI of 45.7 and indicating a resumption of growth in the Southeast Michigan economy after three declining months.
The Southeast Michigan Purchasing Managers Index came in at 60.3 in June, a marked drop from 66.3 in May.
A truck driver led multiple police units on a high-speed chase Saturday in Michigan, a pursuit all caught on security cameras.
Michigan State Police officials are investigating after a motorist walking on the shoulder of an interstate exit in Detroit to get more gas for his car was critically injured in a hit-and-run crash Saturday afternoon, the agency said.
The Detroit Red Wings on Saturday night were bested 5-2 by the Carolina Hurricanes, who snapped a season-worst three-game skid.
The chief of the Hamilton Fire Department in Allegan County, Michigan, is dead after he was hit by a vehicle while operating at a medical incident on Tuesday, according to state Rep. Angela Rigas.
A strong winter storm system is bringing warmer temperatures and widespread rain to end the weekend.
A strong winter storm system is bringing warmer temperatures and widespread rain to end the weekend.
DTE Energy says it's working to restore electricity for thousands of people in Southeast Michigan after ice on power lines created outages on Friday.
A truck driver led multiple police units on a high-speed chase Saturday in Michigan, a pursuit all caught on security cameras.
Michigan State Police officials are investigating after a motorist walking on the shoulder of an interstate exit in Detroit to get more gas for his car was critically injured in a hit-and-run crash Saturday afternoon, the agency said.
A pet store in Ypsilanti, Michigan, says a puppy stolen at the business by a woman on Monday was back in its possession on Saturday.
Ford Motor Co. is pivoting away from its once-ambitious electric vehicle plans amid financial losses and waning consumer demand for the vehicles.
A 15-gallon tank of gas will cost Michiganders about $42, which is around $15 less than the highest price drivers paid in July 2024.
Ford Motor Co. has stepped up technology in its popular F-150 pickup to combat ever-evolving techniques car thieves have at their disposal.
The management company of the LaFontaine Automotive Group in Metro Detroit has agreed to pay $1.5 million to settle an alleged Paycheck Protection Program loan fraud.
Slower adoption of electric vehicles was cited as the reason for pending layoffs at GM's Factory Zero.
It marks the second lawsuit in recent months accusing the filmmaker and studio mogul of leveraging his power in Hollywood to make sexual advances.
The band announced Perry Bamonte's death on their official website on Friday.
The "Taylor Swift" bill package, which includes House Bills 4262 and 4263, authorizes the Michigan attorney general to pursue action against anyone using ticket bots.
James Ransone, the actor who played Ziggy Sobotka in the HBO series "The Wire" and appeared in many other TV shows and movies, has died.
Comedian and actor Bowen Yang performed his final sketch on "SNL" Saturday night, after announcing his unexpected mid-season exit from the show.
Jeffrey R. Holland was next in line to lead the Mormon church under a long-established succession plan.
It marks the second lawsuit in recent months accusing the filmmaker and studio mogul of leveraging his power in Hollywood to make sexual advances.
Several major retailers are now charging customers to return items even if they are unopened and in perfect condition.
Stocks are mostly flat in quiet morning trading on Friday as investors return from the Christmas holiday.
With President Trump declaring Dec. 26 a federal holiday, here's what's open and closed on Dec. 26.
Oakland County officials say it has taken immediate action after water tests detected Legionella bacteria at the courthouse.
President Trump on Thursday signed an executive order to reclassify marijuana. While it might seem like a small move, it opens a new door for the industry as a whole.
Millions of people with an Affordable Care Act health plan face a massive jump in premiums next year — this chart shows just how much.
Henry Ford Health has announced new labor agreements with registered nurses and radiology technicians at its Rochester hospital.
A Michigan hospital is asking members of the public to raise their flashlights as well as the spirits of children during the holiday season.
The Detroit Red Wings on Saturday night were bested 5-2 by the Carolina Hurricanes, who snapped a season-worst three-game skid.
The Detroit Pistons fell 131-129 Friday night to the Utah Jazz. Keyonte George scored 31 points and hit a floater in the lane with 2.1 seconds remaining for Utah, who snapped a four-game losing streak.
The university fired ex-coach Sherrone Moore on Dec. 10 for having an "inappropriate relationship" with a female staffer.
Ryan Kennedy, along with attorneys, held a press conference on Friday, denying allegations that he made racial comments toward Metcalf during the Dec. 21 game in Detroit.
Jared Goff and the Detroit Lions have gifted the division rival Green Bay Packers a spot in the playoffs.
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.
The state of Michigan can do better when it comes to raising the bar on K-12 public education.
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.
A big change overnight with temperatures dropping and a High Wind Watch in effect
A high-speed pursuit involving multiple law enforcement vehicles and a truck driver on Saturday was caught on security cameras. CBS News Detroit's Julia Avant spoke to people who saw the incident.
Attorneys for the man accused of involuntary manslaughter in the 2024 fatal explosion in Clinton Township have filed a motion to dismiss the charge. Plus, other top stories for the evening of Dec. 27, 2025.
A winter storm on Friday night covered states like New York and New Jersey with several inches of snow. More than 4,000 flights across the U.S. were delayed on Saturday morning amid the winter weather.
Pet City Pets in Ypsilanti said a puppy that was stolen from the business on Monday was back in its possession on Saturday.