Here's what the Fed's interest rate pause means for your money
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
Watch CBS News
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
The legislation now goes to President Biden's desk, pulling the nation back from the brink of a financial crisis.
A majority of Democrats and a majority of Republicans voted in favor of the Fiscal Responsibility Act.
The House passed the bill to raise the debt ceiling Wednesday. Now, the Senate will take it up.
The debt ceiling deal has cleared both chambers of Congress and is headed to the president's desk.
The House Democratic leader said he can guarantee the U.S. will not default on its debt.
After days of intense negotiations and weeks of talks, an agreement in principle has been reached to raise the debt ceiling.
"It's hard to overstate how bad it would be," one expert said. Everything from Social Security payments to your retirement fund could get hit.
Without a deal, Treasury Secretary Janet Yellen has said the U.S. could be unable to pay its bills and might default on its debt as soon as June 1.
President Joe Biden said Sunday he is "optimistic about a debt ceiling deal."
Millions of Social Security recipients "need to be very careful" about spending because payments could be delayed, one expert said.
Nicole D'Antonio reports failing to raise the limit could have a big impact on the U-S economy.
Without congressional action, the U.S. could default as soon as June, she wrote in a letter Friday.
Congresswoman Ilena Ros-Lehtinen and Jim discuss the vote to reopen the government and where we go from here. The two also discuss whether three months from now we will be in the same situation. Other topics include immigration reform, and the future of the Republican party.
The GOP-led government shutdown looks like it will continue for an undetermined amount of time, even as more workers begin to lose their pay checks and the debt limit is avoided.
As the Republican-led government shutdown continues, the approaching debt limit and a possible debt default continues to grow larger on the horizon.
While the possibility of a government shutdown still remain high due to Congressional dysfunction, a more important showdown still looms large over Capitol Hill, the debt limit.
A staggering new Wall Street Journal/NBC News poll showed a plurality of the country was fine with the country crashing through the national debt ceiling.
Senator Marco Rubio is prepared to shut down the United States government if the Affordable Care Act isn't completely defunded by any short-term budget agreement.
As President Barack Obama and Congressional Republicans continue to fight over issues from spending to guns, the electorate is backing the president on most issues, according to a new Washington Post poll.
As Congressional Republicans and President Barack Obama begin to clash over the raising of national debt ceiling, a plan relying on one or two coins save the nation has started to gain momentum.
As Republicans in Congress prepare for a major fight with Senate Democrats and President Barack Obama over the economic future of the country; the eurozone is painting a very dark picture of what could lie ahead if America takes the wrong path.
The smoke has barely cleared from the prolonged fight over the fiscal cliff on Capitol Hill, but already Congressional leaders and the White House are drawing lines in the sand over the debt ceiling.
The bill to avert some of the fiscal cliff finally passed the House of Representatives late Tuesday night and did so with a largely bipartisan vote, especially from the Florida Congressional delegation.
The outline of a deal to avoid the so-called "fiscal cliff" is reportedly been made in the Capitol with just hours to go until the end of 2012.
The Alexander twins, both 37, were ordered to be held without bond by Miami-Dade Circuit Court Judge Mindy Glazer.
A South Florida mom faked a hit-and-run story involving her daughter, police said.
A teacher at a Miami child care center is facing charges of child abuse after allegedly assaulting a 2-year-old girl in her classroom.
Authorities are investigating a shooting that left one person dead and sent another to the hospital on Thursday afternoon.
Make this holiday season both stylish and sustainable.
The Alexander twins, both 37, were ordered to be held without bond by Miami-Dade Circuit Court Judge Mindy Glazer.
A South Florida mom faked a hit-and-run story involving her daughter, police said.
A teacher at a Miami child care center is facing charges of child abuse after allegedly assaulting a 2-year-old girl in her classroom.
Authorities are investigating a shooting that left one person dead and sent another to the hospital on Thursday afternoon.
From merry lights to holiday yard decorations, we want to see what you've got.
Florida coach Billy Napier is getting a fourth season to try to get the Gators back to their winning ways.
A Florida man has filed a federal lawsuit against Jacksonville sheriff's officers who severely beat him last year after he ran from a traffic stop.
The Marion County Sheriff's deputy told authorities that he accidentally shot and killed his girlfriend while cleaning his gun.
The American Automobile Association said this is a dangerous time of year for young drivers.
Florida insurance companies made money last year for the first time in seven years.
The short list for Time's 2024 Person of the Year included Donald Trump, Kamala Harris, Kate Middleton, Elon Musk and Benjamin Netanyahu.
"These actions represent the largest single-day grant of clemency in modern history," the White House said.
The move comes two weeks after Meta CEO Mark Zuckerberg traveled to Florida and dined with President-elect Donald Trump in Mar-a-Lago.
President-elect Donald Trump has invited Chinese President Xi Jinping to his inauguration next month, according to multiple sources.
The House approved the massive $895 billion National Defense Authorization Act on Wednesday, after a controversial provision on gender-affirming care prompted backlash from Democrats.
Jim keeps the theme of the week going with longtime political reporter Marc Caputo.
Jim interviews the Chair of the Republican Party of Florida about the wave of Floridians being tapped to take over the Trump administration.
A week after interviewing Republican State Rep. Danny Perez of Miami, who is the new Florida House Speaker, Jim goes one-on-one with Fentrice Driskell, the Florida House minority leader.
A week after interviewing Republican State Rep. Danny Perez of Miami, who is the new Florida House Speaker, Jim goes one-on-one with Fentrice Driskell, the Florida House minority leader.
Jim devotes the entire half hour to an interview with Miami State Representative Danny Perez who was sworn in this week as the Speaker of the Florida House.
Consumers are venting frustrations about health insurance in wake of UnitedHealthcare CEO murder. Costs have outpaced inflation for years.
The independent Vermont senator also called some of Robert F. Kennedy Jr.'s views "very wrong."
At least 364 pertussis cases were reported, marking the worst Thanksgiving week on record.
Even those enrolled in Medicare have a harder time paying for treatment compared with older adults in other countries.
Congo's health minister says the government is "on general alert" over an unidentified disease that's killed dozens of people, about half of whom were children.
These gifts from Stanley, Apple, AllTrails and more won't bust your budget.
From top-rated smart mugs to cold brew starter kits, we've rounded up the coffee lover presents to gift this Christmas.
Just in time for the holiday season, Nintendo has released Nintendo Switch bundles and special editions.
For that authentic grilling experience, you can't beat a charcoal grill. We've rounded up the best grill options.
Discover the best tech gifts during the 2024 holiday season that your friends and loved ones will absolutely adore.
Miami-Dade is considering four possible sites, including two that are 2 miles or less from the city of Miramar.
A viral TikTok recipe that includes melting Jolly Ranchers landed a 9-year-old in the hospital with severe burns.
The American Automobile Association said this is a dangerous time of year for young drivers.
A string of recalls connected to Wisconsin-based supplier Schreiber Foods has now extended to Aldi stores after similar recalls at Hy-Vee and other grocery chains.
There are two sales tax holidays for hurricane supplies
Jamie Foxx opened up about why he was hospitalized for several weeks in April 2023.
Mindy Kaling and Morris Chestnut announced the nominations for the 82nd annual Golden Globes, with 10 nominees revealed live on CBS News.
The lawsuit alleges the unidentified girl was raped at a Video Music Awards afterparty in 2000.
Eighteen white-bearded men who resemble the late U.S. author Ernest Hemingway have arrived in Havana for the weekend to visit some of the his favorite places when he lived on the island decades ago.
The plane crash happened in Homosassa, about 60 miles north of Tampa.