Fed unlikely to cut interest rates until 2027, Bank of America says
A "hawkish" turn at the Fed and stubbornly high inflation could delay interest rate cuts, according to Bank of America economists.
Watch CBS News
A "hawkish" turn at the Fed and stubbornly high inflation could delay interest rate cuts, according to Bank of America economists.
About 111 million Americans are carrying credit card balances, a 17% increase in five years, new research shows.
Fed officials are grappling with a host of economic challenges, from stubborn inflation to a slowing job market.
Some economists think the Fed, facing inflationary pressures from rising energy prices, may not cut interest rates at all this year.
A new report from Realtor.com projects that the housing market will shift in a more buyer-friendly direction in 2026.
Commerce Secretary Howard Lutnick predicts that first-quarter economic growth will heat up to 5%. But sustaining that pace won't be easy, economists say.
Capping credit card interest rates at 10% could save consumers billions of dollars, but potentially hurt lower-income Americans, experts said.
The Federal Reserve is cutting its benchmark interest rate as the U.S. economy faces headwinds, including a faltering labor market.
Federal Reserve Chair Jerome Powell has been under pressure from President Trump to lower the central bank's benchmark interest rate.
President Trump visited the Federal Reserve's headquarters in Washington, keeping up the intense pressure he's been putting on Fed chair Jerome Powell.
The Federal Reserve's downbeat outlook on the U.S. economy is a wake-up call for investors.
The Fed held off on another rate cut at its Jan. 29 meeting. Here's what it means for your finances.
The Federal Reserve on Wednesday moved to lower its benchmark rate by 0.25 percentage points, but said it plans fewer cuts in 2025.
The Federal Reserve announced a third rate cut today, but also cautioned it expects fewer cuts in 2025.
The Federal Reserve said it is cutting rates by 0.25 percentage points, its second rate cut of the year.
The Federal Reserve announced its second interest rate cut of 2024, but Trump's economic priorities could impact future policy.
One day after the Federal Reserve lowered interest rates, CBS News Miami is exploring how the move can help you save money.
One day after the Federal Reserve lowered interest rates, CBS News Miami is exploring how the move can help you save money on loans, credit cards and mortgages.
The Federal Reserve just lowered its benchmark rate by 0.50 percentage points. Here's how the move could impact your finances.
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 lowered interest rates Wednesday by 0.50 percentage points and CBS News Miami hit South Florida streets to get reactions.
The Fed lowered interest rates Wednesday by 0.50 percentage points and CBS News Miami hit South Florida streets to get reactions.
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.
Many americans are counting down to Wednesday, that's when the Federal Reserve is expected, for the first time in years, to cut interest rates
The Average rate for 30-year fixed mortgage now stands at 6.44%, the lowest in 16 months, according to the Mortgage Bankers Association.
According to officials, 31-year-old Brittany Clark, of Orlando, was swimming in the river when the alligator bit both of her arms.
The United States-Mexico-Canada Agreement will remain in effect until it expires in 2036, unless the countries strike another deal to extend it.
The helicopter, which was assigned to the USS George H.W. Bush, is not believed to have been taken down by hostile action, the Navy said.
The case will be presented to the Broward County State Attorney's Office to determine whether charges will be filed.
Two people climbed to the top of New York City's Empire State Building, unfurled a banner, and then apparently got engaged Wednesday afternoon.
According to officials, 31-year-old Brittany Clark, of Orlando, was swimming in the river when the alligator bit both of her arms.
The United States-Mexico-Canada Agreement will remain in effect until it expires in 2036, unless the countries strike another deal to extend it.
The helicopter, which was assigned to the USS George H.W. Bush, is not believed to have been taken down by hostile action, the Navy said.
CBS Miami, Neighbors 4 Neighbors and Global Empowerment Mission are collecting donations to help families affected by the devastating earthquakes in Venezuela.
From major concerts and waterfront fireworks to hometown parades and family festivals, South Florida communities are celebrating America's 250th birthday.
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 United States-Mexico-Canada Agreement will remain in effect until it expires in 2036, unless the countries strike another deal to extend it.
President Trump is traveling Wednesday to North Dakota in what marks his first trip aboard the new Air Force One, which was gifted to the U.S. by the Qatari government last year.
From screwworm to flesh-eating bacteria, mounting public health risks are emerging in the wake of deep cuts to federal health agencies and programs.
The court's decisions cemented Mr. Trump's authority over vast swathes of the government, while delivering significant setbacks to his agenda in other areas.
The Supreme Court agreed to take up challenges to so-called assault-weapons bans in Cook County, Illinois, and Connecticut.
On Thursday, Governor Ron DeSantis announced the closing of Alligator Alcatraz, the highly controversial immigration detention center that was the subject of numerous lawsuits as well as allegations of abuse.
The 29-year-old attorney is hoping to stand out from the pack by going after young voters.
More than two decades after voters were promised a new facility to treat people with mental illnesses, rather than warehousing them in the county jail, the Miami-Dade County Commission gave final approval on Tuesday to open the Miami Center for Mental Health and Recovery.
There are seven Democrats in the race and whoever wins the primary in August will almost certainly be elected to Congress, since this is the most Democratic district in the state.
Democratic CFO candidate Annette Taddeo says she is running to strengthen oversight of Florida's insurance industry and better protect homeowners.
A new Florida law requires drug prescribers to complete sickle cell training, aiming to improve care and address stigma faced by patients.
Former NFL running back Chris Johnson announced that he was diagnosed with ALS, also known as Lou Gehrig's disease, in a "Good Morning America" interview.
Gallup found that only 49% of Americans were "cost-secure" last year, with concerns about medical bills and prescription costs rising across income groups.
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.
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.
Carín León sees the World Cup as something that pulls different cultures together.
There appear to be new clues about the location of Taylor Swift and Travis Kelce's wedding.
Clive Davis helped shape the careers of music stars including Janis Joplin, Bruce Springsteen and Whitney Houston.
Claude Guillemot and a flight instructor were flying in a twin-motor Cessna 421 on Friday evening. An investigation into the crash is underway.
James Burrows directed more than 1,000 episodes of television, including every episode of the original "Will & Grace."