Fed hikes key interest rate for seventh time this year
Rates are at their highest level in 15 years as policymakers try to tamp down inflation without torpedoing the economy.
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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.
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.
The children, who were 9 and 12 years old, have since been released into the custody of their biological father.
Heat advisories have been issued once again for Broward and Miami-Dade counties on Wednesday.
"In exchange for the weapons, the defendants paid in the form of fentanyl and methamphetamine imported into the United States for distribution," the Justice Department said.
Hospitals and other medical providers are increasingly asking for payment before providing care, collecting more of what patients might owe.
Footage shared on social media shows a baby being rescued from the bloody arms of a man trapped underneath a destroyed building in Cali after a powerful earthquake struck Colombia.
The children, who were 9 and 12 years old, have since been released into the custody of their biological father.
Heat advisories have been issued once again for Broward and Miami-Dade counties on Wednesday.
"In exchange for the weapons, the defendants paid in the form of fentanyl and methamphetamine imported into the United States for distribution," the Justice Department said.
Hospitals and other medical providers are increasingly asking for payment before providing care, collecting more of what patients might owe.
Footage shared on social media shows a baby being rescued from the bloody arms of a man trapped underneath a destroyed building in Cali after a powerful earthquake struck Colombia.
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.
U.S. Immigration and Customs Enforcement officers may soon be outfitted with gloves that can deliver painful electric shocks that are intended to gain compliance from combative individuals.
The winner of the August primary will face Republican candidate Te Brown in the November general election.
A U.S. Marine veteran from Massachusetts who has been held in Russia for more than four years on disputed charges has been released.
Ahead of a flight from Turkey, President Trump secretly left Air Force One and was moved to another plane with the help of a catering truck, according to a source, as the U.S. grappled with a threat from Iran.
Two Senate Republicans released a set of 2021 texts that show Dr. Anthony Fauci discussing how to "weigh the potential risks against the benefits" of pregnant women taking COVID-19 vaccines.
In a statement, Moody attempted to distance herself from the affair, suggesting the blame rests with the Governor and his Administration.
The race to see who will be the Democratic nominee to take on Republican Congresswoman Maria Elvira Salazar in District 27 is being closely watched.
On Sunday, Collins spoke about the ruling on this week in South Florida and explained why he believes he is trailing the Republican frontrunner, Byron Donalds.
Months after leaving TV news, Rodriguez is competing against former prosecutor Robin Peguero for the CD-27 nomination.
CBS Miami's Jim DeFede spoke to former Republican State Senator Jeff Brandes, president of the Florida Policy Project, who is behind one of those lawsuits.
The notice from a U.S. government agency does not indicate in which stores the beef was sold.
Despite a rash of foodborne illnesses in recent months, one expert said the nation's food supply is "remarkably safe." Here's what to know.
Federal officials issued a public health alert for meat products containing jalapeños that may be linked to a salmonella outbreak that has sickened hundreds of people across at least 27 states.
In a wide-ranging interview with the CBS News partner BBC News, Hunter Biden grew emotional as he discussed his father's condition, describing it as very sad to watch.
Two Michigan residents who had "significant underlying health conditions" have died after contracting cyclosporiasis, the Michigan Department of Health and Human Services said.
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.
Ariana Grande had been due to star alongside her "Wicked" co-star Jonathan Bailey in a production of "Sunday in the Park with George" in 2027.
Vincent Pastore played Salvatore "Big Pussy" Bonpensiero on all six seasons of "The Sopranos," which aired from 1999 to 2007.
Four women say Hollywood star Jared Leto committed sexual crimes against them when they were teenagers, in interviews with the BBC.
Carly Simon, the singer known for 1970s hits like "You're So Vain," announced she has Parkinson's disease and also was treated for basal cell carcinoma.
Paramount Skydance on Friday said it would delay the deal until as late as June 2027.