Fed lowers rates by 0.50 percentage points, its first cut since 2020
The Fed's decision will lower borrowing costs from a 23-year high as the central bank pivots to shoring up economic growth.
Watch CBS News
The Fed's decision will lower borrowing costs from a 23-year high as the central bank pivots to shoring up economic growth.
The Fed has slashed borrowing costs for the first time in more than four years. Here's how that would impact people with credit card balances.
The central bank is expected to reduce its benchmark rate on Wednesday, which stands at its highest point in 23 years.
The Federal Reserve kept its benchmark rate in a range of 5.25% to 5.5%, the same level where it's been parked since July 2023.
The Fed is leaving its benchmark interest rate unchanged, noting a lack of progress in curbing inflation.
Inflation-weary consumers have also been slammed by high borrowing costs, but the Fed is cautious about sticky inflation.
Inflation is moving sideways, remaining above 3% for the first three months of 2024. Here's how that could impact your finances.
The Fed left its benchmark interest rate unchanged amid persistent inflation. Bankers are predicting three rate cuts later this year.
The Federal Reserve marked its first rate decision of 2024 by keeping its benchmark interest rate unchanged.
Stocks jump after Federal Reserve officials signal they're ready to push down borrowing costs as inflation continues to cool.
The central bank has pushed pause after 11 straight interest-rate hikes. Here are steps to take with your money now.
A vintage banknote and an even older coin collectively sold for nearly $1 million at a multi-day bidding event in Dallas.
Although inflation has slowed sharply, Fed officials are again tapping the brakes to ensure the economy slows.
Although policymakers kept rates steady last month, some Fed officials wanted to keep raising them.
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
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.
The AIDS Healthcare Foundation says its new "GOOOOOOOOOAL!" campaign is designed to promote condom use in six U.S. cities, including Atlanta, Los Angeles, Miami, and more as FIFA World Cup excitement builds.
The lawsuit calls the event "deeply corrupt" and argues that it seeks to enrich the president and his allies and lacks proper authorization.
Miami-Dade Sheriff's Office investigators say a 38-year-old man exposed himself and masturbated in front of multiple victims before fleeing on an electric scooter.
Sandy Alcantara struck out seven in seven innings of one-run ball, Otto López doubled and tripled, and the Miami Marlins beat the Tampa Bay Rays 4-1.
Florida has enacted emergency restrictions on animal imports and inspections to keep the flesh-eating New World screwworm out of the state.
The AIDS Healthcare Foundation says its new "GOOOOOOOOOAL!" campaign is designed to promote condom use in six U.S. cities, including Atlanta, Los Angeles, Miami, and more as FIFA World Cup excitement builds.
The lawsuit calls the event "deeply corrupt" and argues that it seeks to enrich the president and his allies and lacks proper authorization.
Miami-Dade Sheriff's Office investigators say a 38-year-old man exposed himself and masturbated in front of multiple victims before fleeing on an electric scooter.
The NEXT Weather team shares expert advice on how to prepare for a potential storm.
Sandy Alcantara struck out seven in seven innings of one-run ball, Otto López doubled and tripled, and the Miami Marlins beat the Tampa Bay Rays 4-1.
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 lawsuit calls the event "deeply corrupt" and argues that it seeks to enrich the president and his allies and lacks proper authorization.
The top Democrat on the House Intelligence Committee said the timing of the appointment takes FISA Section 702 reauthorization "off the table."
The Treasury Department will use Iranian assets to help U.S. Gulf allies recover from damage caused by Tehran's regime, a source familiar with Treasury Secretary Scott Bessent's thinking told CBS News.
Colombian President Gustavo Petro argues the U.S. has chosen to align against his government and back forces he identifies as complicit in the drug trade.
As President Trump prepares to watch the New York Knicks take on the San Antonio Spurs at Madison Square Garden, officials are planning for a heightened security posture, sources said.
Florida House Speaker Danny Perez denied claims his nomination as U.S. ambassador to Brazil was tied to Florida's recent redistricting effort.
Moskowitz provided CBS News Miami with copies of virulent, antisemitic voicemails his office has received.
Critics argue his plan will decimate cities, counties, and local school districts.
Enrique Tarrio said since President Trump announced the formation of the fund, he has been inundated with calls from others convicted for January 6 related activities.
Commissioners voted to allow the review, saying if that was the only way to move the project - designed to help people with mental illnesses caught in the criminal justice system - then so be it.
Dr. Peter Stafford was working with a missionary group in the Congo when he came down with the virus last month.
The FDA is moving ahead with a safety study of the abortion pill mifepristone, a senior FDA official confirmed to CBS News, a step that could create a path for the Trump administration to restrict access to the medication.
U.S. government plans to open a quarantine center for Americans exposed to Ebola on an air base in Kenya have been temporarily halted by a court order.
The head of the World Health Organization says Ebola has killed at least 7 people in Congo, but the U.N. agency says it knows the epidemic "is much larger."
WHO chief Tedros Adhanom Ghebreyesus says risks from the Ebola outbreak in Congo and Uganda are "high at the national and regional levels, and low at the global level."
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.
Anthony Head played librarian and mentor Rupert Giles in "Buffy the Vampire Slayer" and recently appeared in "Ted Lasso."
Federal prosecutors have indicted ex-Miami Heat guard Terry Rozier on additional charges related to a sports gambling sting.
President Trump said he is considering replacing the Freedom 250 concert series with a rally after many artists dropped out.
The American Music Awards celebrate fan favorites in the music world and feature performances from multiple artists.
Rob Base, the MC whose lyrics lit up the dancefloor classic "It Takes Two" and got countless people moving worldwide, passed away Friday.