Alan Greenspan, Fed chair under 4 U.S. presidents, dies at age 100
Alan Greenspan's lengthy reign at the Federal Reserve coincided with a period of stability from the mid-1980s until 2007.
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Alan Greenspan's lengthy reign at the Federal Reserve coincided with a period of stability from the mid-1980s until 2007.
A "hawkish" turn at the Fed and stubbornly high inflation could delay interest rate cuts, according to Bank of America economists.
The president is turning to a former Fed official as his nominee to replace outgoing Chair Jerome Powell.
President Trump says he is nominating Kevin Warsh to be the next chair of the Federal Reserve, filling a powerful economic policy role as the president pushes for lower interest rates.
The subpoenas threatened a criminal indictment related to Jerome Powell's testimony before the Senate Banking Committee in June 2025, according to the Fed chair.
Employers across the U.S. added 147,000 jobs in June, while the unemployment rate fell to 4.1%.
Fed Chair Jerome Powell responded with a one-word answer when asked if he'd step down if asked by President-elect Donald Trump.
The Federal Reserve just lowered its benchmark rate by 0.50 percentage points. Here's how the move could impact your finances.
Inflation-weary consumers have also been slammed by high borrowing costs, but the Fed is cautious about sticky inflation.
President Biden is hoping to stack the Central Bank with its top governors as it continues working to stem inflation.
Latest hike brings the U.S central bank's benchmark interest rate to its highest level in 16 years.
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.
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.
President Biden is highlighting January's job report after it soared past economists' predictions. Jeanna Smialek, a financial reporter at The New York Times, joins CBS News to discuss what the numbers mean for the state of the U.S. economy and future Fed moves.
Personal consumption expenditures increased at the lowest rate in over a year, showing the long run-up in prices is likely ending.
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.
The Federal Reserve, as expected, announced it is raising interest rates by three-quarters of a percentage point to help tamp down inflation. CBS News' Tanya Rivero and Christina Ruffini get analysis of the economic and political impact from Ted Rossman, senior industry analyst at Bankrate.com; CBS News political correspondent Caitlin Huey-Burns; and Michelle Singletary, Washington Post personal finance columnist.
The rise in the federal funds rate, which is what banks charge each other for overnight loans, comes as several significant pieces of economic data are released this week.
"Inflation is much too high," Fed Chair Jay Powell said of the U.S. central bank's largest rate hike since 1994.
Economists expect a sharp increase in borrowing costs. That could impact credit cards, loans and other debt.
The top news stories you might not have heard about this week
The Federal Reserve bumped up its most important interest rate another quarter point on Wednesday, its seventh rate hike since late 2015.
The Fed is boosting its key short-term rate by a modest quarter-point to a still-low range of 1.5 percent to 1.75 percent and will keep shrinking its bond portfolio. Both steps show confidence that the U.S. economy remains sturdy nearly nine years after the Great Recession ended.
The Federal Reserve Bank of San Francisco apologized Tuesday for a political message posted to the bank's Twitter page.
A CBS LA Next Weather Alert is in place through Monday, and a Next Weather Watch is set for Friday and Saturday.
Carly Simon, the singer known for 1970s hits like "You're So Vain," announced she has Parkinson's disease and also was treated for basal cell carcinoma.
Prosecutors also allege that D4vd had a sexual relationship with Celeste Rivas Hernandez. Los Angeles Police Department Detective Corey Farell testified that the pair began talking when she was 11 years old, and he was 16.
The California Highway Patrol was in pursuit of a suspected DUI driver on the 5 Freeway.
LA County lifeguards rescued two swimmers after rip currents swept them into the ocean near the Venice pier.
A CBS LA Next Weather Alert is in place through Monday, and a Next Weather Watch is set for Friday and Saturday.
Carly Simon, the singer known for 1970s hits like "You're So Vain," announced she has Parkinson's disease and also was treated for basal cell carcinoma.
Prosecutors also allege that D4vd had a sexual relationship with Celeste Rivas Hernandez. Los Angeles Police Department Detective Corey Farell testified that the pair began talking when she was 11 years old, and he was 16.
The California Highway Patrol was in pursuit of a suspected DUI driver on the 5 Freeway.
LA County lifeguards rescued two swimmers after rip currents swept them into the ocean near the Venice pier.
Prosecutors also allege that D4vd had a sexual relationship with Celeste Rivas Hernandez. Los Angeles Police Department Detective Corey Farell testified that the pair began talking when she was 11 years old, and he was 16.
The California Highway Patrol was in pursuit of a suspected DUI driver on the 5 Freeway.
LA County lifeguards rescued two swimmers after rip currents swept them into the ocean near the Venice pier.
The Los Angeles Police Department is in pursuit of a suspected reckless driver.
It happened at around 6:20 p.m. near the intersection of E. Market Street and Elm Avenue, Long Beach Police Department officers said.
The Newport Beach Police Department warned organizers and attendees of an end-of-summer beach party after hundreds of people were arrested at a similar gathering on July 4th.
The man used red spray paint to write the words "fascist" and "nazi" on 13 Teslas in Irvine.
Orange County parents demanded more information on child cancer cases after state officials found that there were fewer than 11 cases.
Just a short walk from the Huntington Beach Pier, the museum's director Peter "PT" Townend, says the relocation is a legacy move.
Two Mexican Mafia members face life in federal prison after a jury found them guilty of killing a man outside of his Orange County home.
While they've seen a decline in mosquitoes since last year, vector control experts expect to see an increase as the latest heat wave hits Southern California.
Jackie, the so-called matriarch of the beloved Big Bear bald eagle family, is still in critical condition and recovering after she was involved in a fight with two other eagles last week, according to wildlife officials and Friends of Big Bear Valley.
A 23-year-old man was arrested early Wednesday after he allegedly assaulted a bus driver in Chino in what police called an unprovoked attack.
The fire was reported at around 1:30 p.m. in the Mead Valley area according to Riverside County firefighters.
Police said that the man was found naked in the grass with injuries to his face and that all of his belongings were in a nearby trash can.
Carly Simon, the singer known for 1970s hits like "You're So Vain," announced she has Parkinson's disease and also was treated for basal cell carcinoma.
Three people were killed and four others wounded in a shooting during a food festival in Seattle, police said. A 15-year-old suspect was in custody.
Center fielders Carlos Beltrán and Andruw Jones and second baseman Jeff Kent were inducted into the Baseball Hall of Fame on Sunday.
Justine Vanderschoot was 17 when she was brutally murdered by her boyfriend and his roommate in Placer County, California. More than 20 years later, her family continues to fight for justice.
Los Angeles Rams coach Sean McVay says Aaron Donald is still determining whether he is ready and able to return to the team.
President Trump ordered federal officials to install signs outside the National Museum of American History that correct what he says is "inaccurate" information presented by the institution about American history.
President Trump cracked jokes at the redo of the White House Correspondents' Dinner on Friday night, after an armed assailant upended April's dinner.
The lawsuit claims the Trump administration is withholding hundreds of millions of dollars in disaster-preparedness and homeland security grants to pressure states to change policies on elections and immigration.
More than 43,000 immigrants were arrested last month as DHS continues to detain people in less-publicized enforcement surges.
Defense Secretary Pete Hegseth told lawmakers the Iran war has cost $37.5 billion. Sources told CBS News the total cost could be far higher, in part due to military construction for damaged U.S. bases.
Voters in California may soon decide on a ballot measure that seeks to help the state's middle class afford to buy a home, by establishing a $25 billion loan program that would provide down payment assistance.
Some Trader Joe's shoppers will get a payout after a lawsuit alleged that the retailer's customer receipts put shoppers at risk of ID theft.
California Attorney General Rob Bonta and local prosecutors urged parents to check their children's e-bikes, saying some of the vehicles may be motorcycles or mopeds capable of high speeds.
San Francisco officials said Tuesday that the city has filed a lawsuit against leading manufacturers of ultra-processed foods, accusing them of producing products linked to serious health issues and alleging that the companies knowingly made the foods addictive.
A bill that would reverse a 25% tax increase on California's legal cannabis industry is heading to Gov. Gavin Newsom's desk, after being approved by the legislature.
Taylor Farms said none of its branded salads or kits contain the iceberg lettuce associated with the outbreak.
A lettuce supplier to fast-food giant Taco Bell has been linked to a nationwide cyclosporiasis outbreak that has sickened thousands of people, the CDC said.
Officials are still searching for the source of the outbreak, prompting consumers to seek advice on social media about which foods to avoid.
Former NFL running back Chris Johnson announced that he was diagnosed with ALS, also known as Lou Gehrig's disease, in a "Good Morning America" interview.
Los Angeles County health officials on Saturday confirmed the fifth measles case of the year in an international traveler who arrived at Los Angeles International Airport earlier in the week.
Initial findings showed no evidence of rising statewide unemployment claims from workers in occupations considered highly exposed to AI.
Ford is recalling more than 250,000 vehicles that were incorrectly repaired under a previous recall meant to fix a problem that caused the engine to stall while driving, according to the National Highway Traffic and Safety Administration.
The California State Assembly passed a new bill that they hope can rein in a black market in restaurant reservations.
Voters in California may soon decide on a ballot measure that seeks to help the state's middle class afford to buy a home, by establishing a $25 billion loan program that would provide down payment assistance.
Some Trader Joe's shoppers will get a payout after a lawsuit alleged that the retailer's customer receipts put shoppers at risk of ID theft.
Center fielders Carlos Beltrán and Andruw Jones and second baseman Jeff Kent were inducted into the Baseball Hall of Fame on Sunday.
Denis Bouanga scored two goals, Son Heung-min scored in his third consecutive match since the World Cup break, and Los Angeles FC thrashed Sporting Kansas City 4-0 for its fourth consecutive victory.
Joseph Paintsil scored a goal and JT Marcinkowski had five saves for the LA Galaxy in a 1-1 tie with the San Jose Earthquakes at Stanford Stadium.
Kyle Tucker homered for the second consecutive game, Yoshinobu Yamamoto allowed one run in six gritty innings and the Los Angeles Dodgers capitalized on two defensive mistakes by the New York Mets in a 4-3 victory.
Shohei Ohtani has skipped a tentatively scheduled bullpen session and Los Angeles Dodgers manager Dave Roberts says the two-way superstar won't throw off a mound again until his irritated left knee feels 100%.
Carly Simon, the singer known for 1970s hits like "You're So Vain," announced she has Parkinson's disease and also was treated for basal cell carcinoma.
Kaylee Hottle, an Atlanta-born actress known for her role in the "Godzilla" film franchise, has died following a crash in Maryland.
A warmup jacket worn by Wilt Chamberlain during the 1972 NBA finals that was found in an Oregon thrift store could fetch more than $150,000 in an auction closing Monday.
The ruling comes after a coalition of 12 states sued to block the deal, arguing it would harm consumers and the entertainment industry.
Los Angeles County's chief medical examiner is emphasizing the need for greater transparency when it comes to autopsies following celebrity deaths.
Saddie Murray, the Go-To Girlfriend, shares a list of grooming products for men.
Aaron Schrank, health and housing reporter at LAist, talks about the new numbers from the Los Angeles Homeless Services Authority that say homelessness is up in LA County. Schrank details some of the factors that contributed to the increase.
Rachel Fiset, who is an attorney, discusses the preliminary hearing in the murder case against singer D4vd that has stretched out over five days. She talks about some of the witnesses the prosecution has called to the stand and the evidence they’ve presented.
Heat advisories are still in effect across Southern California on Monday. Temperatures will continue to be well above average, increasing the risk for heat-related illnesses including stroke and exhaustion.
The California Highway Patrol was in pursuit of a suspected DUI driver on the 5 Freeway.
Some of golf's best are facing off at the U.S. Women's Open at the Riviera Country Club in the Pacific Palisades over the weekend. The event runs from June 2 to June 7.
Widely considered the greatest architect of his time, Frank Gehry helped shape Los Angeles' skyline.
A suspect was taken into custody after an attack on Pearl Street Mall in Boulder on June 1 in which there were 15 people and a dog who were victims. The suspect threw Molotov cocktails that burned some of the victims, who were part of a march for Israeli hostages.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
The Franklin Fire in Malibu quickly grew overnight and threatened several homes. Evacuation orders were issued and Pepperdine University instructed students to shelter in place.
