Federal Reserve holds interest rates steady, citing economic uncertainty
Fed officials are grappling with a host of economic challenges, from stubborn inflation to a slowing job market.
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Fed officials are grappling with a host of economic challenges, from stubborn inflation to a slowing job market.
A new report from Realtor.com projects that the housing market will shift in a more buyer-friendly direction in 2026.
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.
The Federal Reserve's September meeting this week is taking place amid the Trump administration's push for the agency to lower interest rates.
The Trump administration wants an appeals court to lift a ruling that blocked President Trump from firing Federal Reserve Governor Lisa Cook before an interest rate meeting next week.
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.
The Federal Reserve said Wednesday it will maintain the benchmark interest rate at its current range of 4.25% to 4.5%
The CFPB is suing Capital One for allegedly misleading consumers about its offerings for high-interest savings accounts.
The Federal Reserve on Wednesday moved to lower its benchmark rate by 0.25 percentage points, but said it plans fewer cuts in 2025.
The Federal Reserve announced a third rate cut today, but also cautioned it expects fewer cuts in 2025.
The Federal Reserve said it is cutting rates by 0.25 percentage points, its second rate cut of the year.
The Federal Reserve announced its second interest rate cut of 2024, but Trump's economic priorities could impact future policy.
The Federal Reserve just lowered its benchmark rate by 0.50 percentage points. Here's how the move could impact your finances.
The Fed's decision will lower borrowing costs from a 23-year high as the central bank pivots to shoring up economic growth.
The Fed has slashed borrowing costs for the first time in more than four years. Here's how that would impact people with credit card balances.
The Average rate for 30-year fixed mortgage now stands at 6.44%, the lowest in 16 months, according to the Mortgage Bankers Association.
Federal Reserve Chair Powell, speaking at a conference in Jackson Hole, Wyoming, said the timing and pace of rate cuts will depend on economic data.
After years of soaring housing costs, renters are getting some relief as the Federal Reserve looks to extinguish inflation.
Inflation is moving sideways, remaining above 3% for the first three months of 2024. Here's how that could impact your finances.
The Federal Reserve marked its first rate decision of 2024 by keeping its benchmark interest rate unchanged.
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.
U.S. economy continues to plow ahead, as holiday shoppers shell out more on gifts this year than predicted.
Michigan Attorney General Dana Nessel is once again pushing back on DTE's request for a rate hike after the utility company submitted a $474 million proposal on Tuesday.
Police believe the shooting stemmed from an argument in the parking lot, and the urgent care was not being targeted.
The program launched in 2016 and examines people's records, such as the number of convictions and the length of time since their last conviction, on a case-by-case basis.
The police department says they've received countless complaints of children and teenagers riding e-bikes and traditional bicycles recklessly through the city.
Dearborn Heights is holding a second workshop as officials and residents look for ways to improve traffic safety across the city.
To put the pricing in perspective, AAA says it would cost $49.82 in gas to make a round trip from Detroit to Grand Rapids in a car that gets 27 mpg.
The Barack Obama Leadership Academy will lose its affiliation with Detroit Public Schools Community District as of June 30.
Michigan Attorney General Dana Nessel is once again pushing back on DTE's request for a rate hike after the utility company submitted a $474 million proposal on Tuesday.
Police believe the shooting stemmed from an argument in the parking lot, and the urgent care was not being targeted.
Detroit's Lifeline H2O program, designed to help low-income residents afford water, has now reached its limit.
Several cities in Southeast Michigan could allow golf carts on public streets if a state bill expanding the rules passes.
Experts said it's unlikely consumers will see a drop in prices moving forward.
Two of Michigan's congressional representatives introduced a bill aimed at supporting Michigan's role in automotive innovation and manufacturing.
General Motors is expecting a $500 million tariff refund after the Supreme Court struck down some of President Trump's most sweeping levies.
A Michigan auto parts company that is eligible to request refunds for tariffs deemed illegal is taking on the White House in a lawsuit, challenging an executive order that suspends duty-free shipping.
Motown may be Detroit's most famous sound, but it's far from the only one.
Gene Simmons visited Detroit Rock City to celebrate the grand opening of a restaurant co-founded by him and his Kiss bandmate Paul Stanley.
The moon music tradition started more than 50 years ago, NASA said as it shared the Artemis II crew's playlist this week.
Restaurants are being considered for the new Michelin Guide American Great Lakes Edition, set to be revealed in 2027.
Kid Rock posted videos of the helicopters hovering by his Nashville home on social media over the weekend. The Army later confirmed the helicopters were on a training mission.
The war with Iran is now in its ninth week, and Congress is concerned about the reduction of global munition stockpiles and the ability to restock them.
Michigan lawmakers are acting to repeal Cesar Chavez Day in response to documented sexual abuse allegations.
The impact of higher energy prices and fears about covering monthly bill is taking a toll on public sentiment, a new Gallup poll finds.
General Motors is expecting a $500 million tariff refund after the Supreme Court struck down some of President Trump's most sweeping levies.
The average cost of a gallon of gasoline hit $4.18 on Tuesday, up $1.20 since the conflict in the Middle East started on Feb. 28.
Parents say the incident highlights the importance of education and communication at home, especially when it comes to THC‑infused products.
Six Detroit elementary students were hospitalized on Tuesday after eating suspected marijuana edibles, district officials said.
A proposed Michigan law would mandate health insurance plans to cover in vitro fertilization and intrauterine insemination starting in 2027.
Cases of Lyme disease have seen a 168% increase just in the last five years, according to the Michigan Department of Health and Human Services.
Macomb County health officials reported Thursday the county's first confirmed measles case in 2026.
The Detroit Lions have picked up the fifth season of Pro Bowl running back Jahmyr Gibbs' contract and declined All-Pro linebacker Jack Campbell's fifth-year option, according to a person familiar with the moves.
Michigan basketball coach Dusty May has announced that three players have been added from the transfer portal and two incoming freshman are joining four high school seniors who were signed in November.
Desmond Bane scored 22 points, Franz Wagner had 19 in three quarters and the Orlando Magic beat the Detroit Pistons 94-88 to take a 3-1 series lead, putting the East's No. 1 seed on the brink of elimination.
Construction crews are making way for the new home of the Detroit City Football Club after demolishing the old Southwest Detroit Hospital.
Two members of the Michigan men's basketball national championship team made Saturday memorable for young players in Rochester Hills, Michigan.
Robert Costa, the award-winning national correspondent for CBS Sunday Morning and chief Washington analyst for CBS News, talks about Michigan's role in this critical midterm election.
Diallo Smith, CEO of Detroit nonprofit Life Remodeled, talks about its new opportunity hub on the east side of Detroit called Anchor Detroit.
It's a look at the critical relationship between Canada, Michigan and the U.S. on this week's Michigan Matters.
The roundtable discusses the dramatic impact AI is having in the classroom, at companies and inside homes.
There's a focus on Michigan's defense industry as a national convention comes to Detroit in a few weeks, with over 11,000 people expected at Huntington Place.
Police in Harper Woods, Michigan, are investigating after shots were fired on Wednesday at an urgent care. Police say no injuries were reported, and no arrests have yet been made.
It's been 10 years since Detroit launched Project Clean Slate, and in that time, thousands of people have had their records wiped clean. On Wednesday, city officials celebrated the 20,000th expunged conviction.
The number of Michigan communities where golf carts can legally be operated on public streets would increase should pending legislation move forward.
Starting this week, police in Wyandotte, Michigan, are cracking down on kids who ride bicycles and e-bikes carelessly.
Defense Secretary Pete Hegseth faced questions from lawmakers Wednesday for the first time since the Trump administration launched its joint war with Israel against Iran. Natalie Brand reports