Inflation eases to 3.4% in boost for the Federal Reserve
The Federal Reserve wants to see more progress in quelling inflation before cutting interest rates.
The Federal Reserve wants to see more progress in quelling inflation before cutting interest rates.
Inflation is moving sideways, remaining above 3% for the first three months of 2024. Here's how that could impact your finances.
The hotter-than-expected inflation reading could cause the Federal Reserve to delay interest rate cuts, analysts said.
Discount grocery giant Aldi expects to build more stores in the Midwest, Northeast and select U.S. cities
The high cost of food both at home and in restaurants continues to be a sore spot for millions of U.S. households.
Americans can expect ebbing inflation and a strong job market this year, according to the National Association for Business Economics.
This Valentine's Day, more people may have opted for a romantic meal at home. The new U.S. inflation report shows that food prices across the board are still stubbornly high, but restaurant prices are climbing faster than grocery store prices.
U.S. Treasury Secretary Janet Yellen touted a strong economy and believes inflation is returning to normal levels while making several stops across Detroit on Wednesday, including NewLab at Michigan Central.
"Americans should feel confident that inflation will come down to levels that will no longer really be noticeable or worrisome to them," Yellen told CBS News.
Consumer prices in January rose 3.1% from a year earlier, higher than economists had forecast, as food and housing costs jumped.
Bartender Catey Regis's pricey misadventure of buying a used car recently speaks to why voters are worrying about the U.S. economy going into this year's presidential election.
Rents over the last two decades have risen much faster than employee pay, contributing to an escalating homelessness crisis in the U.S.
If faced with a sudden loss of income, more than half of Americans say they worry they wouldn't have enough savings to cover a month's living expenses.
The U.S. housing market slumped badly last year amid surging mortgage and a dearth of affordable properties, new data shows.
Workers in some jobs, including many who are self-employed, enjoyed double-digit wage gains last year. Here's who got the biggest pay bumps.
This year's robust stock market performance defied analysts' predictions as investors cheered prospects of lower interest rates and inflation.
U.S. economy continues to plow ahead, as holiday shoppers shell out more on gifts this year than predicted.
Billions of dollars' worth of gift cards go unspent every year. Here's what to know about redeeming them — and avoiding scams.
The Federal Reserve's preferred measure of inflation fell last month in another sign that prices are easing.
Consumer's snapped up Costco's new gold bar offerings, contributing to the company's strong earnings last quarter.
Inflation across the U.S. continues to fall but remains sticky, with the cost of rent, medicare care and used cars edging up last month.
Many feel worse off than their parents' generation as income isn't keeping up.
Red Lobster added all-you-can-eat shrimp to its menu. Then it realized how much Americans can eat.
About 60% of American workers say their income has lagged inflation over the past 12 months, survey shows.
Compared with 2021, the typical household must spend an additional $11,434 annually just to maintain their standard of living, analysis shows.
A stretch of road work in Lathrup Village is causing huge headaches for local businesses along Southfield Road.
Anyone who has gotten behind a wheel knows that feeling of being stuck at a red light, researchers are working on ways to reduce those instances. One of the ways is through changing traffic signals.
Climate change and more rain could mean more rainwater runoff, which can affect our local rivers and water sources. Gardeners say rain gardens could be the answer to help refill our aquifers, prevent unnecessary rainwater runoff, and even help stop your basement from flooding.
Detroit starts its season against the Los Angeles Rams, whom it defeated in the first round of the 2023 season playoffs.
Blue Cross Blue Shield of Michigan has named Tricia Keith its new CEO. Keith will succeed Daniel Loepp, who announced in September that he is retiring after leading the company for nearly 20 years.
A stretch of road work in Lathrup Village is causing huge headaches for local businesses along Southfield Road.
Anyone who has gotten behind a wheel knows that feeling of being stuck at a red light, researchers are working on ways to reduce those instances. One of the ways is through changing traffic signals.
A doctor from West Bloomfield is now stranded in Gaza after heading there with a relief group earlier in May.
Climate change and more rain could mean more rainwater runoff, which can affect our local rivers and water sources. Gardeners say rain gardens could be the answer to help refill our aquifers, prevent unnecessary rainwater runoff, and even help stop your basement from flooding.
Detroit starts its season against the Los Angeles Rams, whom it defeated in the first round of the 2023 season playoffs.
Anyone who has gotten behind a wheel knows that feeling of being stuck at a red light, researchers are working on ways to reduce those instances. One of the ways is through changing traffic signals.
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.
Jim Parsons and Mayim Bialik are reprising their roles from "Big Bang Theory" in part one of the "Young Sheldon" series finale.
Caitlin Clark struggled early in her WNBA debut before finishing with 20 points and 10 turnovers as the Indiana Fever fell to the Connecticut Sun 92-71.
Actor Steve Buscemi appeared to be looking at his phone moments before he was randomly punched in New York City, exclusive video obtained by CBS New York shows.
Steve Buscemi was allegedly punched in the face in Manhattan's Kips Bay neighborhood last week.
Prince Harry and Meghan are in Nigeria for a 3-day tour at the invitation of the African nation's military.
McDonald's CEO Chris Kempczinski said recently the company must be laser-focused on keeping prices affordable.
Richard Brendan Globensky pleaded guilty to federal charges, admitting he stole green jackets awarded to golf legends Arnold Palmer, Ben Hogan, and Gene Sarazen.
The U.S. Coast Guard is responding to the oil spill, and will determine its extent and initiate "containment and cleanup processes."
Rearview camera wiring on the vehicles is susceptible to cracking, as a result of water and salt exposure in low temperatures.
Both men were declared dead by the Army on Dec. 31, 1953, more than three years after they went missing during the war.
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.
Detroit starts its season against the Los Angeles Rams, whom it defeated in the first round of the 2023 season playoffs.
Richard Brendan Globensky pleaded guilty to federal charges, admitting he stole green jackets awarded to golf legends Arnold Palmer, Ben Hogan, and Gene Sarazen.
After the success of the 2024 NFL Draft in Detroit in April, leaders and drivers throughout the NTT IndyCar Series and the Detroit Grand Prix are ready to take the spotlight.
Caitlin Clark struggled early in her WNBA debut before finishing with 20 points and 10 turnovers as the Indiana Fever fell to the Connecticut Sun 92-71.
Former Michigan star quarterback Denard Robinson is no longer part of Sherrone Moore's coaching staff, school spokesman Dave Ablauf confirmed on Tuesday.
The winner of the Republican and Democratic August primaries will face off in the general election.
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.
A stretch of road work in Lathrup Village is causing huge headaches for local businesses along Southfield Road.
Anyone who has gotten behind a wheel knows that feeling of being stuck at a red light, researchers are working on ways to reduce those instances. One of the ways is through changing traffic signals.
A federal judge is now blocking the White House's attempt to put a cap on excessive credit card late fees. Dan Casey with Brideriver Advisories provides tips on how to stay on top of payments to reduce credit card debt.
Health officials are watching a new COVID-19 variant that could lead to a summer surge. Dr. Lea Monday, an infectious disease expert at the Detroit Medical Center, breaks down the Flirt variant.
Climate change and more rain could mean more rainwater runoff, which can affect our local rivers and water sources. Gardeners say rain gardens could be the answer to help refill our aquifers, prevent unnecessary rainwater runoff, and even help stop your basement from flooding.