Federal Reserve raises interest rates for the first time since 2023
The Fed increased its benchmark rate by 0.25 percentage points to battle resurgent inflation driven by soaring energy prices.
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The Fed increased its benchmark rate by 0.25 percentage points to battle resurgent inflation driven by soaring energy prices.
New Fed Chairman Kevin Warsh is stepping in at a critical juncture for the U.S. economy, with inflation at its highest level in more than three years.
A "hawkish" turn at the Fed and stubbornly high inflation could delay interest rate cuts, according to Bank of America economists.
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.
As President Trump touts a looming decision on his next move in the war, Tehran says any "new aggression" would be met with different weapons in new places.
Regular runs $4.47, $4.69 and $4.99 at the Harper Avenue corner. Statewide, AAA has Michigan at $4.92 a gallon — 30 cents under the June 2022 record of $5.22.
The woman, who police said was in her 30s, was stabbed multiple times, then ran to a nearby business and collapsed outside. She was taken to a hospital, where she died.
A failure at the T.B. Simon Power Plant cut power to the East Lansing campus. Most buildings have power back, but steam and hot water service is still affected.
Arnoldo Jose Marquez-Pulido, 33, pleaded guilty in May to assaulting a federal officer and pulling a service pistol from its holster during an arrest at a Utica business. Two agents needed hospital treatment.
The woman, who police said was in her 30s, was stabbed multiple times, then ran to a nearby business and collapsed outside. She was taken to a hospital, where she died.
Regular runs $4.47, $4.69 and $4.99 at the Harper Avenue corner. Statewide, AAA has Michigan at $4.92 a gallon — 30 cents under the June 2022 record of $5.22.
A man was shot and killed, and a second man was wounded and is in custody after a domestic-related confrontation Saturday night in Pontiac, the sheriff said.
A failure at the T.B. Simon Power Plant cut power to the East Lansing campus. Most buildings have power back, but steam and hot water service is still affected.
Arnoldo Jose Marquez-Pulido, 33, pleaded guilty in May to assaulting a federal officer and pulling a service pistol from its holster during an arrest at a Utica business. Two agents needed hospital treatment.
Tony Stewart Racing unveiled a special Dodge livery on Tuesday at Stellantis' North America headquarters in Auburn Hills, Michigan.
The spike in prices has also sparked differing opinions among drivers about who's to blame.
A Ford contract employee was taken to a hospital following an incident on Monday morning at the Michigan Assembly Plant in Wayne, Michigan.
Automotive expert Paul Eisenstein of Autoline TV said the number of vehicles recalled this year has surged.
Woodward Dream Cruise participant Mike Holmes, who showed off a DeLorean at Saturday's event, said the " human interaction is just as much fun as driving the car."
If you're looking for sunshine in Metro Detroit, Friday is the day to seek it out.
Stevie Wonder's shows at the Fox Theatre sold out, with some tickets listed for thousands of dollars. That's raising questions about what Michigan's "Taylor Swift" ticket law actually protects fans from.
The list of 50 restaurants is made from a team of 16 scouters who travel the country and try food at all kinds of places, according to the NYT.
Aaron Rowe, Beoga, Lukas Graham and Finneas all released statements Tuesday on Instagram saying they were withdrawing from Ed Sheeran's tour.
Dearborn Mayor Abdullah Hammoud told rapper Macklemore he's "always welcome in Dearborn" after venues on Ed Sheeran's stadium tour refused to include him.
Regular runs $4.47, $4.69 and $4.99 at the Harper Avenue corner. Statewide, AAA has Michigan at $4.92 a gallon — 30 cents under the June 2022 record of $5.22.
U.S. Customs and Border Protection agriculture specialists intercepted a first-in-nation batch of potentially destructive giant scale insects at Detroit Metro Airport.
Republicans are trying to win an open Senate seat race in Michigan, and nominee Mike Rogers is stepping up his appeals to some Democrats.
In 2019, Bunch became both the first historian and the first African American to serve as Secretary of the Smithsonian Institution. As he prepares to retire, he talks about the museums' mission to protect history, and give America a full picture of itself.
Betting platforms FanDuel and DraftKings say tools are there to help addicted gamblers slow down.
Thursday marks one year since Michigan Medicine ended gender-affirming care for young patients
Nearly half of Americans with medical debt owe at least $2,000, forcing them to make tough choices, new research shows.
The school immunization waiver rate climbed to 7.1% last year from 6.2% in 2024, the fifth straight year of decline and the highest exemption rate since 2010. Michigan is now outpacing the national average.
The standardbred-Friesian mare is currently undergoing treatment and is believed to be unvaccinated, according to state officials.
A new four-legged team member is already making an impact on students at Polk Elementary School in Dearborn Heights.
CJ Carr threw for 234 yards and ran for a touchdown, Nolan James Jr. rushed for 121 yards and a score, and No. 3 Notre Dame took control in the second half to beat Michigan State 27-10.
Betting platforms FanDuel and DraftKings say tools are there to help addicted gamblers slow down.
Bryce Underwood threw two touchdown passes and Savion Hiter had two rushing scores to help No. 19 Michigan pull away and beat UTEP 52-17.
Chicago dropped into second in the AL Central after it blew a six-run lead in an 11-8 loss to Detroit on Friday night.
The Detroit Pistons and Ausar Thompson have reached an agreement on a five-year contract extension worth $155 million, according to a person familiar with the situation.
At the top of the list is the open U.S. Senate contest between Democrat Abdul El-Sayed and Republican Mike Rogers.
The Detroit Regional Partnership, which has been around for six years, has been a significant catalyst, helping bring numerous jobs and companies to the region.
The roundtable talks politics, civility and issues that will resonate this fall in various elections.
As we count down the final days of summer, there's still a wee bit of time left to grab a good book as you head to the beach or maybe your backyard.
Rachel Stewart previews the upcoming America's Thanksgiving Parade presented by Gardner White, which will celebrate its 100th anniversary in 2026.
President Trump said that he has agreed to convert plans for a massive triumphal arch into a "top grade Military Complex," equipped with snipers and drone storage.
A man was shot and killed, and a second man was wounded and is in custody after a domestic-related confrontation Saturday night in Pontiac, the sheriff said.
A woman was stabbed to death in an alley in downtown Detroit Sunday afternoon while she was on a break from her job at a nearby business, police said.
Showers hang on into the evening before moving out, leaving clouds through Monday morning and highs in the low 60s. Astronomical fall begins Tuesday evening, just after sunset.
Michigan's average gas price has climbed to $4.92 per gallon — well above the national average of $4.47 — and analysts say prices may keep rising.