Hiring surged in June, shrugging off economic worries
Employers across the U.S. added 147,000 jobs in June, while the unemployment rate fell to 4.1%.
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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.
On Monday, the Treasury Department sold 553,846,153 shares in AIG on Monday, turning an $18 billion profit on the $32.50 a share price.
Traditionally, home equity rises as a mortgage is paid off, but home values continue to plunge since the bubble burst in 2006.
A showdown vote in the Senate over a proposed cap on fees that stores charge for a debit card swipe is pitting bankers against merchants — but will consumers lose either way?
The Federal Reserve plans to release documents on Thursday identifying financial companies that received Fed loans to survive the financial crisis.
Consumers borrowed more in January to purchase new cars but were once again frugal with credit card purchases, offering a mixed sign of their confidence in the economy.
Chesney went 21-5 in two seasons as the head coach at James Madison University, including a Sun Belt Conference championship this season.
The woman, 48, was injured due to smoke inhalation, authorities said.
The CVS was located at 3049 East Coast Highway in Corona del Mar
A group of 14 women, some of whom were inmates or former foster kids, became the first all-female class to graduate from an LA County firefighter training program.
Widely considered the greatest architect of his time, Frank Gehry helped shape Los Angeles' skyline.
Chesney went 21-5 in two seasons as the head coach at James Madison University, including a Sun Belt Conference championship this season.
The woman, 48, was injured due to smoke inhalation, authorities said.
The CVS was located at 3049 East Coast Highway in Corona del Mar
A group of 14 women, some of whom were inmates or former foster kids, became the first all-female class to graduate from an LA County firefighter training program.
Police said that the driver dragged the stroller down the block, severely injuring a 3-month-old baby and a 3-year-old toddler.
A group of 14 women, some of whom were inmates or former foster kids, became the first all-female class to graduate from an LA County firefighter training program.
Widely considered the greatest architect of his time, Frank Gehry helped shape Los Angeles' skyline.
A Riverside County man was sentenced to 15 years to life in prison for selling a lethal dose of fentanyl.
Private First-Class Tanner F. Rubio was inside a tactical vehicle when a mishap occurred during routine training.
The man quickly grabbed a ladder and helped his wife, 11-year-old son and an elderly woman to safety.
Mark Ahrens and his son were singing Christmas carols when a speeding Tesla slammed into their minivan.
Officials said that the marine died from injuries sustained in a tactical vehicle mishap on Wednesday afternoon.
One person was declared dead at the scene of the crash, which happened just before 3 p.m. near Heil Avenue and Goldenwest Street, police said.
Marine veteran Tom Steen, who lost both legs to an illness, thanked his neighbors for helping his family get rid of the rats infesting his Irvine home.
A pair of earthquakes shook parts of Riverside County, near Idyllwild, on Thanksgiving Day.
Police said that the driver dragged the stroller down the block, severely injuring a 3-month-old baby and a 3-year-old toddler.
A stolen vehicle pursuit ended after the suspect crashed into another car in Victorville.
The Thoroughbred holiday lights show in Rancho Cucamonga will be drive-thru only beginning on Friday.
Officials said that the marine died from injuries sustained in a tactical vehicle mishap on Wednesday afternoon.
Police say that the driver dragged the stroller down the block, severely injuring a 3-month-old baby and a 3-year-old toddler.
Frank Gehry was known for designing the Guggenheim Museum Bilbao in Spain and the Walt Disney Concert Hall in Los Angeles.
The Supreme Court said Friday it will decide the legality of President Trump's executive order that seeks to end birthright citizenship.
The 2026 Men's World Cup will be held across the United States, Canada and Mexico next summer.
Netflix on Friday said it will acquire Warner Bros., including its film and television studios, HBO Max and HBO.
LeBron James' streak of 1,297 consecutive double-digit scoring games has ended.
The Supreme Court said Friday it will decide the legality of President Trump's executive order that seeks to end birthright citizenship.
California unveiled a new online portal on Wednesday for residents to report alleged misconduct by federal agents during operations to enforce immigration laws.
Democrats on the House Committee on Oversight and Government Reform released "never-before-seen" images of Jeffrey Epstein's private island.
California is set to join a growing list of states banning the practice of cat declawing, under a new law taking effect in January.
The Trump administration has halted all immigration applications filed by people from 19 countries, according to internal government guidance, its latest move to restrict legal immigration pathways.
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.
Meal kit delivery firm HelloFresh will pay $7.5 million to settle a lawsuit accusing it of misleading customers and making it difficult for them to cancel their subscriptions.
With the help of her daughter and her 5th-grade class, CBS News California (KCAL) Investigative reporter Julie Watts investigates "Sephora Kids" concerns.
A Southern California man has pleaded guilty for his role in a scheme that stole more than $2 million from San Francisco-based food delivery company DoorDash, federal prosecutors said.
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.
In an interview with CBS News, FDA Commissioner Dr. Marty Makary explains what went into the decision to drop the most serious warnings on hormone therapy for menopause.
At least 11 people have contracted Salmonella linked to powder supplements sold at Sam's Club stores nationwide, health authorities said.
Supervisors will vote on the ordinance again in two weeks, after a review period. If approved, it would bar the sale of kratom derivatives to people under 21 in Riverside County.
Tens of thousands of Kaiser Permanente nurses and health care workers across California are hitting the picket line Tuesday, as a five-day strike begins.
California is set to join a growing list of states banning the practice of cat declawing, under a new law taking effect in January.
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.
Waymo has begun offering autonomous robotaxi service using freeways for the first time in select cities in California and Arizona, the company announced.
Tens of thousands of Kaiser Permanente nurses and health care workers across California are hitting the picket line Tuesday, as a five-day strike begins.
A charity that accepted donations of vehicles that would pay for breast cancer screenings for low-income patients agreed Thursday to pay a $3.8 million fine and to restrictions on future fundraising activities in 19 U.S. states, including Colorado.
Chesney went 21-5 in two seasons as the head coach at James Madison University, including a Sun Belt Conference championship this season.
The Boston Celtics cruised past Los Angeles 126-105 on Friday night, with the Lakers playing without LeBron James and Luka Doncic.
The 2026 Men's World Cup will be held across the United States, Canada and Mexico next summer.
LeBron James' streak of 1,297 consecutive double-digit scoring games has ended.
Former Angels and Rangers manager Ron Washington is returning to the Bay Area to become infield coach for the San Francisco Giants on new manager Tony Vitello's staff.
Frank Gehry was known for designing the Guggenheim Museum Bilbao in Spain and the Walt Disney Concert Hall in Los Angeles.
Netflix on Friday said it will acquire Warner Bros., including its film and television studios, HBO Max and HBO.
Steve Cropper co-wrote several classics, including "(Sittin' on) the Dock of the Bay," "Green Onions" and "In the Midnight Hour."
Stoppard was often hailed as the greatest British playwright of his generation.
Jimmy Cliff, who famously sang about the "many rivers" we all must cross, has died after suffering a seizure and pneumonia, his family say.
A winter warmup is in store for Southern California this week. Marina Jurica reports.
Desmond Shaw flies to North Hollywood for tonight's Look At This!
A Riverside County man was sentenced to 15 years to life in prison for selling a lethal dose of fentanyl.
A group of 14 women, some of whom were inmates or former foster kids, became the first all-female class to graduate from an LA County firefighter training program. Zach Boetto reports.
CBS LA's Hunter Sowards gives us a look at some of the most iconic designs from legendary architect Frank Gehry.
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.
Several people have been injured and multiple homes burned after the Mountain Fire broke out Wednesday morning in Ventura County, burning over 10,000 acres within hours.
