Americans are already starting to pull back on their spending
The drop in spending activity is expected to continue through this year
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The drop in spending activity is expected to continue through this year
Rates are at their highest level in 15 years as policymakers try to tamp down inflation without torpedoing the economy.
Rising mortgage rates are shrinking the number of people who can afford to get a home loan.
The Federal Reserve hinted it soon could reduce the size of its three-quarters of a point hike.
Latest jump is the fourth supersized rate hike this year, as the central bank tries to subdue stubbornly high inflation.
Borrowing costs rose to their highest level in 14 years, and more interest-rate hikes are likely, Fed signaled.
Larry Goehrig teaches finances and marketing at Florida Memorial University.
The Federal Reserve chairman says he anticipates more rate increases to try to bring down record inflation to its target of 2%.
Federal Reserve's push to stem inflation could also make your credit card debt more expensive and impact home buyers.
"Inflation is much too high," Fed Chair Jay Powell said of the U.S. central bank's largest rate hike since 1994.
In an effort to get a handle on the worst inflation in America in the last 40 years, the Federal Reserve has raised interest rates by a half-percentage point.
Interest rates are going up again as the economy gets hotter.
President Trump nominated Federal Reserve Governor Jerome Powell on Thursday to lead the world's most influential central bank.
Federal Reserve Chair Janet Yellen spoke before Congress about the inflation rates since 2008.
A day after addressing a senate committee, Federal Reserve Chairwoman Janet Yellen was back on Capitol Hill Wednesday.
Federal Reserve Chairwoman Janet Yellen said Tuesday the central bank will "evaluate whether employment and inflation are continuing to evolve in line with [the Fed's] expectations, in which case a further adjustment of the federal funds rate would likely be appropriate."
As was expected, the Feds raised interest rates and now banks will likely pass their higher costs to consumers and companies leading to high borrowing rates throughout the economy.
Ben Bernanke was quizzed about what it felt like to be called a traitor by the governor of Texas and Alan Greenspan was asked if he purposely sought to confuse Congress with his answers.
Auto sales in the United States are expected to hit an all-time high as Americans are buying more new cars than ever before.
A man from Jamaica is behind bars for running a lottery scam which targeted elderly people.
The Federal Reserve says it will spend $40 billion a month to purchase mortgage-backed securities because the economy is too weak to reduce high unemployment.
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.
The latest numbers from the U.S. Labor Department offer a mixed bag of news to President Barack Obama.
Lionel Messi is already thinking ahead to the next trophy.
Thursday's highs will be in the low 90s and "feels like" temps in the triple digits.
The back-to-back hits to Florida's Big Bend are forcing residents to reckon with the true costs of living in an area under siege by storms.
Trulieve, Inc. accused the Republican Party of launching a "deceptive campaign" to mislead voters.
People experiencing homelessness in Miami are testing new state restrictions on sleeping outdoors.
People experiencing homelessness in Miami are testing new state restrictions on sleeping outdoors.
Lionel Messi is already thinking ahead to the next trophy.
Thursday's highs will be in the low 90s and "feels like" temps in the triple digits.
The back-to-back hits to Florida's Big Bend are forcing residents to reckon with the true costs of living in an area under siege by storms.
The CBS Miami Nat Moore Trophy recognizes the top high school football player in Miami-Dade, Broward and Monroe counties.
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 U.S. Supreme Court is scheduled Sept. 26 to discuss whether it will hear a First Amendment challenge to a 2021 Florida law that placed restrictions on major social-media companies.
The number of people traveling to Florida during the second quarter of 2023 decreased compared to a year earlier, according to estimates released Wednesday by the state's tourism-marketing agency.
Trulieve, Inc. accused the Republican Party of launching a "deceptive campaign" to mislead voters.
Judge Tanya Chutkan unsealed an expansive new filing in special counsel Jack Smith's case against former President Donald Trump in Washington, D.C.
CBS News poll finds Walz and Vance improved their standing in what debate watchers said was a positive debate.
Sen. JD Vance and Gov. Tim Walz met in New York for the CBS News vice presidential debate. Here are the highlights.
CBS Miami investigative reporter Jim DeFede will moderate the debate.
Democrat Lucia Baez-Geller is challenging Congresswoman Maria Elvira Salazar for her 27th District seat.
Condo owners in South Florida are facing increased fees and assessments because of safety laws passed in the aftermath of the deadly Surfside condo collapse.
In a follow-up to last week's special edition of Facing, Jim talks to Sen. Sheldon Whitehouse, D - R.I., who is the chairman of the Senate Budget Committee.
In about a month and a half Florida voters will decide Amendment 4, which would eliminate the state's six-week abortion ban and would return Florida to what it was like before the U.S. Supreme Court struck Roe v. Wade.
Research shows that an overwhelming majority of likely Florida voters believe global warming is real.
The FDA has until early 2026 to decide on the submission for a sunscreen ingredient branded as PARSOL Shield.
Officials claim the changes "had no bearing" on Boar's Head's now-shuttered plant.
The government has already disbursed more than 900 million free at-home COVID-19 tests, and will be reopening its free test kit portal.
Regulators say the nation's largest pharmacy benefit managers are partly to blame for the soaring cost of insulin in the U.S.
Many of the pertussis infections have been reported in older children and adults.
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.
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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
John Amos was best known for his roles in "Roots" and the 1970s sitcom "Good Times."
After surviving a 1990 bus crash that left her temporarily paralyzed, Gloria Estefan has donated over $42 million to paralysis research.
Kris Kristofferson, a songwriter who became a country star and A-list actor, died at his home on Maui surrounded by family on Saturday, a spokesperson said in an statement.
British actress Dame Maggie Smith had an extensive career in theater and movies, gaining international acclaim in later roles in "Harry Potter" and "Downton Abbey."
The adventure begins for 16 ordinary Americans as they embark on their trek to the top of the treacherous New Zealand Alps in 'The Summit.'