Biden announces nominees to fill out the U.S. Federal Reserve
President Biden is hoping to stack the Central Bank with its top governors as it continues working to stem inflation.
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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.
The U.S. central bank eases up its efforts to curb inflation amid concerns about banking industry risks.
Nicole D'Antonio reports the head of the Federal Reserve testifies Tuesday before the Senate Banking Committee on the U.S. economic outlook, fighting inflation, and the state of employment including wages and available jobs.
While the central bank is slowing its rate increases, Jerome Powell told investors not to expect lower rates this year.
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.
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.
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%.
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.
Authorities say more than 150 fake designer items were seized as part of Operation Safe Holidays.
Kimali Stephen traveled to Montego Bay to find her 85‑year‑old father alive after two weeks of silence.
West Virginia Gov. Patrick Morrisey said the family expects Andrew Wolfe to be in acute care for another two to three weeks.
City memo limits waivers and inspections as residents push for quieter nights downtown.
Pet Orphans Miami is caring for two animals found discarded alongside furniture, preparing them for adoption.
Authorities say more than 150 fake designer items were seized as part of Operation Safe Holidays.
The 2026 Men's World Cup will be held across the United States, Canada and Mexico next summer.
Kimali Stephen traveled to Montego Bay to find her 85‑year‑old father alive after two weeks of silence.
Miami Art Week 2025 delivers a full slate of installations, exhibitions and events across Miami, Miami Beach, Wynwood and beyond.
West Virginia Gov. Patrick Morrisey said the family expects Andrew Wolfe to be in acute care for another two to three weeks.
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 American Automobile Association said this is a dangerous time of year for young drivers.
Two people who survived an early September U.S. attack on an alleged drug boat were waving overhead before they were killed in a now-controversial second strike, according to two sources.
Florida's Republican-dominated congressional delegation is urging the Trump administration to drop a plan that would allow new oil drilling off the state's coast.
The Supreme Court said Friday it will decide the legality of President Trump's executive order that seeks to end birthright citizenship.
A federal judge granted a Justice Department request to unseal grand jury transcripts from a federal investigation in Florida into convicted sex offender Jeffrey Epstein.
A U.S. District Court decision to end the deployment of National Guard members to Washington, D.C., is now on hold.
Jim DeFede investigates the millions of dollars in state funding cuts for meal programs across South Florida.
Jim DeFede interviews Florida Lt. Governor Jay Collins, who is mulling a run for governor in 2026.
Jim DeFede talks with Randi Weingarten about the warning bell she rings in her new book, "Why Fascists Fear Teachers."
Jim DeFede talks with Bryan Calvo, the newly elected mayor of Hialeah.
Jim DeFede interviews Orange County Mayor Jerry Demings, who just announced he's running for governor in 2026.
Experts say the original warnings from more than 20 years ago were based on outdated information and were "overly broad."
Kian Sadeghi, the 25-year-old founder and CEO at Nucleus Genomics, tells "CBS Mornings" that parents have every right to select the qualities and traits they desire in their child.
Louisiana Surgeon General Ralph Abraham, a critic of government vaccine mandates, has been quietly appointed to one of the CDC's top positions.
Consumers with the imported pans should throw them away due to the severe health risks posed by lead, the agency warns.
ByHeart said it can't rule out that all of its baby formula across all product lots could be contaminated, citing recent test results.
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.
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.
Activists are calling for a nationwide boycott of Target stores following the company's decision to roll back its diversity, equity and inclusion initiatives.
Discount store chain Target says it's joining rival Walmart and a number of other prominent American brands in scaling back corporate diversity, equity and inclusion initiatives.
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.
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.
Donald Glover, who performs under the moniker Childish Gambino, revealed he suffered a stroke last year, which forced him to cancel his tour.