Fed hikes key interest rate 0.75 percentage points as it battles inflation
"Inflation is much too high," Fed Chair Jay Powell said of the U.S. central bank's largest rate hike since 1994.
Watch CBS News
"Inflation is much too high," Fed Chair Jay Powell said of the U.S. central bank's largest rate hike since 1994.
May surge in consumer prices raises odds that the Fed will continue to sharply hike interest rates.
Manufacturers are again downsizing packaging in an effort to ease the hit from inflation. Are they going too far?
The US average for the price of a gallon of regular gas hit $4.96 according to the most recent reading from AAA Wednesday
Last year, almost 48 million workers quit their jobs... But where did the workers go?
A year ago, you were paying an average of $2.861 a gallon for regular gas in Florida. On Wednesday, the current average for the same gasoline jumped to $4.645.
The number of people living paycheck to paycheck is on the rise, for consumers across all income brackets.
The US dollar serves as the backbone of the global economy and is considered the safest currency to hold. So in times of uncertainty, investors like to stock up.
The cost of living is still on the rise. A new report shows prices for everyday items are once again increasing, including Valentine's Day gifts for that special someone.
Florida GOP Sen. Marco Rubio is calling on President-Elect Joe Biden to support increasing stimulus money from $600 to $2,000, on his first day in office as a show of unity following the D.C. insurrection last week.
Amazon and Netflix continue to do well as coronavirus isolates people in their homes, but many other companies have benefited or may soon.
Florida's March unemployment jumped to 4.3 percent, according to numbers released Friday by the state leading to a strong demand for unemployment benefit applications but the state is still having issues with the website.
Vice President Mike Pence has returned to vote-rich Florida, hoping to draw attention to the Trump administration's record on jobs and the economy.
South Florida Mayors helped unveil 'Resilient 305' on Thursday morning, a 20-year strategy to tackle environmental, economic and social challenges for our region.
The US economy surged into high gear in the Spring, growing at the fastest pace in almost four years.
Wall Street has tried to ignore warning signs about a trade war for months. It can't any longer. The Dow sank 287 points on Tuesday.
Interest rates are going up again as the economy gets hotter.
There should be a lot more job openings for the college class of 2018, but starting salaries won't be much higher than last year.
Stocks tumbled Friday as trade tensions between the United States and China heated up.
The Dow closed down 459 points on Monday amid trade war fears and a presidential attack on Amazon.
Wall Street's trade war fears are easing — for now. The Dow jumped more than 600 points Monday after its worst week in two years.
The U.S. economy added 200,000 jobs in January and wages grew at the fastest pace in eight years.
General Electric is cutting 12,000 jobs as its new CEO tries to turn the troubled company around.
Black Friday was huge for online shopping, but Cyber Monday could be even bigger.
By mid-afternoon on the Thanksgiving holiday, the Dolphin Mall and surrounding area began to see the surge of shoppers, out in full force ahead of Black Friday.
A judge has paused the prosecution of a woman charged with the attempted murder of Rihanna while it is determined whether she is mentally competent to stand trial.
The 12-year search for answers has concluded for the family of Trukita Scott, a mother of two who suddenly disappeared in 2014.
County leaders released the 2026 Biscayne Bay Report Card on Tuesday, grading the bay's overall condition as "fair," an improvement from last year's "poor" rating.
The NTSB also revealed that the crew of the crashed jet had been reassigned to it after their original plane was taken out of service.
NFL Commissioner Roger Goodell says the league is cooperating with Florida Attorney General James Uthmeier after being issued a subpoena last week.
A judge has paused the prosecution of a woman charged with the attempted murder of Rihanna while it is determined whether she is mentally competent to stand trial.
The 12-year search for answers has concluded for the family of Trukita Scott, a mother of two who suddenly disappeared in 2014.
County leaders released the 2026 Biscayne Bay Report Card on Tuesday, grading the bay's overall condition as "fair," an improvement from last year's "poor" rating.
The NTSB also revealed that the crew of the crashed jet had been reassigned to it after their original plane was taken out of service.
NFL Commissioner Roger Goodell says the league is cooperating with Florida Attorney General James Uthmeier after being issued a subpoena last week.
In courtroom testimony, Shandelle Maycock recounted the harrowing night her daughter was abandoned in the Everglades, describing the horrors they endured.
A former prison guard trainee has been sentenced to death for the 2019 execution-style killings of five women inside a Florida bank.
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 Internal Revenue Service is permanently barred from pursuing claims against President Trump or his company based on prior tax returns, part of a controversial settlement deal between the Justice Department and Mr. Trump.
The indictment, which was first reported by CBS News, marks the latest in a series of probes by the Justice Dept. related to the COVID-19 pandemic.
There is concern among some in the Justice Department that the pending charges against him are weak, sources said.
President Trump has been openly mulling a takeover of Cuba similar to the operation that toppled Venezuela's Nicolás Madoro. What it would mean for the regime's leaders remains to be seen. Here are some of the figures to watch.
Survivors say they'd asked for more medical support before the Iranian drone strike that killed six U.S. soldiers at their command post in Kuwait in the war's first 24 hours.
The only remaining roadblock: Miami Dade County Commission Chairman Anthony Rodriguez, who has so far refused to say when – or even if – he will allow the full commission to vote on it.
A group of Miami residents, including historian Marvin Dunn, filed suit last week in federal court to block the transfer of land for the proposed library.
CBS News Miami has confirmed from multiple sources that the Miami Dade State Attorney's office is investigating A3.
State Senator Rosalind Osgood is urging Wasserman Schultz not to run in Florida's 22nd Congressional district.
In an interview on Facing South Florida, Wasserman Schultz said the Governor's efforts to redraw the maps will almost certainly violate the Fair Districts constitutional amendment voters in Florida passed in 2010.
The cruise ship hit by a deadly hantavirus outbreak has docked at the Dutch port of Rotterdam for disinfection, wrapping up a troubled journey that put world health authorities on alert.
At least 80 deaths have been reported in a new Ebola disease outbreak in Congo and Uganda, authorities said.
Dr. Tracy Beth Høeg, leader of the Food and Drug Administration division responsible for regulating prescription and over-the-counter drugs, is leaving her post, a senior FDA official confirmed.
A New York native is among 16 American passengers who are quarantining in Nebraska after being on the cruise ship that is at the center of the deadly hantavirus outbreak.
The head of the World Health Organization says "our work is not over" to contain hantavirus after evacuations from a cruise ship hit by a deadly outbreak of the illness.
AARP is sounding the alarm because it is so easy to fall for these schemes, but there are simple things everyone can do to protect themselves.
A lawsuit filed late last month took Chicago-based McDonald's to task over the McRib sandwich, calling its name a form of false advertising.
Florida insurance policyholders could be seeing some form of relief in their wallets thanks to market reforms made statewide, Gov. Ron DeSantis said.
The company said Tuesday that 85% of its retail products and "nearly all" of its school offerings are already made without "certified colors."
Less than two days after Delta Air Lines offered $30,000 to each passenger on board the flight that crashed and flipped in Toronto on Monday afternoon, the company is facing its first two lawsuits in the incident — and they likely won't be the last.
A judge has paused the prosecution of a woman charged with the attempted murder of Rihanna while it is determined whether she is mentally competent to stand trial.
"Survivor" 48 and 50 contestant Joe Hunter believes his sister Joanna, whose death was ruled a suicide, was murdered. He and their mother are working to be Joanna's voice and advocate for others who have experienced domestic violence.
The Library of Congress revealed this year's list of 25 recordings to be preserved for future generations on the National Recording Registry.
"The Devil Wears Prada 2" edges out "Mortal Kombat II" at the North American box office this weekend.
A trial in the lawsuit between Blake Lively and Justin Baldoni was set to begin later in May.