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.
This weekend, more than 80 venues across Minneapolis will open up their doors to the public. It's all part of its Doors Open weekend event, where the public will be able to explore places they generally can't go. One of those spots is the Federal Reserve Bank of Minneapolis.
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.
Autopsy says central bank didn't appreciate "seriousness of critical deficiencies" in SVB's governance, contributing to the failure.
Stocks closed lower following latest update on inflation and warning of possible recession.
The U.S. central bank eases up its efforts to curb inflation amid concerns about banking industry risks.
CBS News Business Analyst Jill Schlesinger joins us to discuss the decision.
Inflation's still high, but analysts warn that further rate hikes from the Fed could lead more more banks to topple.
All deposit accounts at Silicon Valley Bank and Signature Bank in New York will be guaranteed, the Federal Reserve, Treasury Dept. and FDIC said in a joint statement.
The chairman of the Federal Reserve told lawmakers that the Central Bank will need to raise interest rates higher than previously expected in order to tame inflation.
While the central bank is slowing its rate increases, Jerome Powell told investors not to expect lower rates this year.
Rates are at their highest level in 15 years as policymakers try to tamp down inflation without torpedoing the economy.
Latest jump is the fourth supersized rate hike this year, as the central bank tries to subdue stubbornly high inflation.
The central bank on Wednesday said it is increasing rates by 0.75 percentage point, its sixth boost this year.
According to a Bureau of Economic Analysis report released Thursday, the U.S. gross domestic product grew at a 2.6% annual rate from July through September. David Wessel, the director of the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution joined John Dickerson to discuss the latest economic numbers and state of the economy.
The September Consumer Price Index shows prices rose 8.2% over the last year, and increased 0.4% between August and September. Gargi Chaudhuri, head of iShares Investment Strategy Americas at BlackRock, and CBS News senior White House and political correspondent Ed O'Keefe joined Tanya Rivero and Nancy Chen to discuss the impact of these numbers on the U.S. economy.
Experts say the bump in interest rates is slowly cooling the red hot housing market we've seen this summer, but it can still be a good time to buy.
Borrowing costs rose to their highest level in 14 years, and more interest-rate hikes are likely, Fed signaled.
The central bank said it is boosting rates by 0.75 percentage point. Expect to pay more for credit card debt and loans.
The Federal Reserve raises a key rate three-quarters of a percentage point, 3 shot in downtown Minneapolis overnight, and more.
The Federal Reserve, as expected, announced it is raising interest rates by three-quarters of a percentage point to help tamp down inflation. CBS News' Tanya Rivero and Christina Ruffini get analysis of the economic and political impact from Ted Rossman, senior industry analyst at Bankrate.com; CBS News political correspondent Caitlin Huey-Burns; and Michelle Singletary, Washington Post personal finance columnist.
The rise in the federal funds rate, which is what banks charge each other for overnight loans, comes as several significant pieces of economic data are released this week.
Jonah Kaplan reports on why the Federal Reserve is raising interest rates and what that means for the economy and consumers.
The Federal Reserve raised the interest rate Wednesday by three-quarters of a percentage point. Jeff Wagner explains why that seemingly-small change can have a big impact on your money.
Royce Lewis hit a two-run homer and sparked the go-ahead rally with a seventh-inning double as the Minnesota Twins beat the Los Angeles Angels 5-3.
Kayla McBride scored 14 of her 25 points in the fourth quarter, Olivia Miles added 23 points after missing two games and the Minnesota Lynx edged the New York Liberty 90-85.
The Minneapolis Fire Department is investigating after a fire at Jakeeno's Pizza and Pasta that happened early Saturday morning.
Wright County, Minnesota, sheriff's deputies are investigating after a vehicle hit a man, injuring him and killing his dog Friday morning.
For six weeks in the summer, Nellie Stone Johnson Elementary School in North Minneapolis is home to one of 12 Freedom Schools across the Twin Cities.
The Minneapolis Fire Department is investigating after a fire at Jakeeno's Pizza and Pasta that happened early Saturday morning.
For six weeks in the summer, Nellie Stone Johnson Elementary School in North Minneapolis is home to one of 12 Freedom Schools across the Twin Cities.
A St. Paul, Minnesota, neighborhood that has struggled to keep businesses might be turning a corner.
A pattern of vandalism targeting young trees along the riverfront in St. Paul, Minnesota, has cost the city upward of $100,000 in damages.
Police in Minneapolis are citing a May incident involving a missing man found by a drone as a positive example of how the technology can be used to keep the public safe. City officials are considering trying out a drones-as-first-responders program that neighbors are concerned could really mean public surveillance.
Wright County, Minnesota, sheriff's deputies are investigating after a vehicle hit a man, injuring him and killing his dog Friday morning.
People in the Boundary Waters Canoe Area Wilderness won't be able to have a campfire beginning Saturday due to "continued dry conditions" in northern Minnesota, according to the U.S. Forest Service.
A 62-year-old woman is dead after driving underneath a semitruck on a highway in Evergreen Township, Minnesota, on Thursday night, according to the Minnesota State Patrol.
The Federal Aviation Administration and National Transportation Safety Board are investigating after a small plane crashed in Winona County, Minnesota, Thursday evening.
Twenty-four months after Nikki Anderson disappeared without a trace in Dakota County, Minnesota, her sister says her family is left with no answers and plenty of questions.
A Wisconsin family lost their ten-month-old daughter after she swallowed a water bead. They blame Target and the water bead manufacturer for her death.
Francesca Hong has not backed away from calls to defund and abolish the police, raise taxes on the wealthy, and create a state-owned bank — positions now facing voters in a state Trump has carried twice.
A former Wisconsin judge will soon learn her sentence for felony obstruction for helping an immigrant evade federal officers.
The Wisconsin Supreme Court ruled 5-2 that guardianship records sought by the Wisconsin Voter Alliance to identify ineligible voters are not public records under state law.
Transportation Secretary Sean Duffy has transferred $1 million from his former congressional account to a super PAC supporting Michael Alfonso, his 26-year-old son-in-law, who is running for Duffy's old Wisconsin seat in an Aug. 11 primary.
The city of St. Paul, Minnesota, is taking a stand and closing encampments amid growing concerns.
Baseball fans might remember the Metrodome's iconic blue seats, and now in Atwater, Minnesota, spectators can once again grab a blue seat and watch a game.
Tucked away in the Midway neighborhood in St. Paul is a community treasure many have come to love and respect.
What started as a small fundraiser following one of Joe's surgeries at Gillette Children's has grown into a community tradition that has raised nearly $100,000 for the hospital.
A trip to the video store was once a weekly ritual, and now one Minnesota movie lover is trying to bring that experience back.
A landmark housing bill automatically became law overnight after President Trump declined to sign it.
Graham Platner had until 5 p.m. on Monday to formally suspend his campaign or he would remain on the ballot in November.
In the plan under discussion, the Secret Service and the White House would be able to open and close sections of the fencing, sources said.
Eight months ago, Hegseth told top military leaders there would be "no more beardos" and "fat troops."
President Trump said Friday he won't sign the law, but a U.S. official said he isn't expected to veto it either.
A Wisconsin family lost their ten-month-old daughter after she swallowed a water bead. They blame Target and the water bead manufacturer for her death.
For many Minnesotans, the road to the Fourth of July starts with a short drive across the St. Croix River to Wisconsin to stock up on fireworks. The kinds of pyrotechnics that can be legally ignited in Minnesota might be surprising.
Insurance experts say hail damage claims that once averaged $10,000–$15,000 now routinely reach $40,000–$60,000, even as many policies have shifted away from full replacement coverage.
Hundreds of workers, employed by Delaware North Company to serve food and drinks, say they are fighting for livable wages and healthcare benefits.
Target is tapping designer and TV personality Isaac Mizrahi for a newly created role as creative director at large as the discounter aims to reclaim its reputation for stylish clothing on a budget.
Two Burnsville, Minnesota, parents are facing charges after medical officials found their child had "extensive bruising" following a welfare check at their home, according to court documents filed on Friday.
A Twin Cities fire chief is accused of sexually assaulting and grooming a teen girl enrolled in the Fire Explorers job-shadowing program, charges filed in Anoka County reveal.
A 17-year-old boy faces a weapon charge in connection with the fatal shooting of another teen at a Twin Cities park on Sunday.
An employee at a St. Paul, Minnesota, daycare who was fired after allegedly hitting a 4-year-old in the face multiple times now faces a gross misdemeanor charge.
Two people were hospitalized after a domestic stabbing in Brooklyn Park, Minnesota, early Friday, according to police, and one of them will be jailed after release.
More than 75,000 Minnesotans have been approved for the state's paid family and medical leave program, which launched at the beginning of the year.
Skip the latest fad diet. The best way to manage your weight might already be sitting on your plate.
Dozens of Twin Cities hospice workers are walking the picket line Monday in a one-day strike after nearly a year of negotiations for an inaugural union contract.
As Mayor Jacob Frey pledges a crackdown at open-air drug markets in Minneapolis, WCCO found brutal honesty about the situation from people who say they actively participate in the illicit trade.
Noah Walden says he didn't notice anything unusual while eating. About three days later, he began experiencing stomach pain that continued to worsen over the next several days.
A St. Paul, Minnesota, neighborhood that has struggled to keep businesses might be turning a corner.
It's another action-packed weekend here in Minnesota, featuring hot dogs, book fairs, community celebrations and more.
Bonnie Tyler, the Welsh pop star best known for singing the chart-topping power ballad "Total Eclipse of the Heart" in 1983, has died. She was 75.
AI-generated actor Tilly Norwood is set to star in her first feature film, with her creator saying that "art will be imitating life."
Taylor Swift and Travis Kelce were married as they celebrated their wedding with hundreds of guests Friday at Madison Square Garden in New York City.
Royce Lewis hit a two-run homer and sparked the go-ahead rally with a seventh-inning double as the Minnesota Twins beat the Los Angeles Angels 5-3.
Kayla McBride scored 14 of her 25 points in the fourth quarter, Olivia Miles added 23 points after missing two games and the Minnesota Lynx edged the New York Liberty 90-85.
The Minnesota Twins announced Friday that catcher Ryan Jeffers has been reinstated from the 10-day injured list after missing nearly two months with a left hamate bone fracture.
Vaughn Grissom went 2 for 3 with a home run and two RBIs, and the Los Angeles Angels beat the Minnesota Twins 4-3 to snap a five-game skid at Target Field in Minneapolis.
Gavin Williams pitched seven dominant innings, Gabriel Arias, Chase DeLauter and Patrick Bailey hit home runs and the Cleveland Guardians beat the Minnesota Twins 5-2 to avoid a three-game sweep.
Minnesota Republicans head into an August primary shaped by a president who has lost the state three times but still commands outsized loyalty from its conservative base.
Minnesota Republicans head into an August primary shaped by a president who has lost the state three times but still commands outsized loyalty from its conservative base.
Mike Lindell, who leads the Minnesota Republican gubernatorial primary at 27%, is proposing conditional non-resident visas for undocumented immigrants with no criminal record — a position that differs from the Trump administration's approach.
Mike Lindell says he called President Trump before entering the Minnesota governor's race and asked for an endorsement, but Trump has not given one — though he said in December that Lindell deserves to be governor.
One of the most-watched primary match-ups pits Minnesota Lt. Gov. Peggy Flanagan against U.S. Congresswoman Angie Craig in the race for the DFL nomination for U.S. Senate.
There's a scenic, nearly century-old spot in St. Cloud, Minnesota, where right now you'll find thousands of flowers in bloom.
Baseball fans might remember the Metrodome's iconic blue seats, and now in Atwater, Minnesota, spectators can once again grab a blue seat and watch a game.
It's a lake cruise in the middle of town, and there's more than pelicans on the Pelican Breeze tour in Albert Lea, Minnesota.
Currie, Minnesota, is truly small-town America. The population hovers at just over 200. But on the northern outskirts, you'll happen upon a place with plenty of bells and whistles: End-O-Line Railroad Park and Museum
School's out, summer's here, and if you're heading to the lake on Highway 10, you may just stumble upon hidden treasure.
Catching a flight with just a carry-on can make travel feel easy. No need to check a bag and all your belongings stay with you. But quite often, that suddenly changes before boarding.
Skip the latest fad diet. The best way to manage your weight might already be sitting on your plate.
There's no doubt your air conditioning unit is working overtime this week as oppressive heat blankets Minnesota.
In every corner of the metro, and across Minnesota, you'll find construction crews ripping up roads and rebuilding bridges. WCCO looks into whether the piles of rubble they create can get a second life.
Water beckons Minnesotans this time of year, especially our lakes. But something in it can turn us away, even if other animals and organisms need it.
The Minnesota State Fair has unveiled its new foods for 2026.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Minnesotans got a great view of the northern lights Tuesday night.
A look at the newest addition to the polar bear population at St. Paul, Minnesota's Como Zoo.
From food shelves to school programs, our team is proud to serve where it matters most.
Hot and humid conditions are here to stay across Minnesota for the next several days. Meteorologist Adam Del Rosso has the latest on the heat wave.
In Minnesota, weather can be all over the place. Here at WCCO, we want to give you what you need to prepare for what's happening next.
Heat indexes will be above 90 degrees on Saturday and Sunday afternoon in the Twin Cities, according to NEXT Weather meteorologist Lisa Meadows.
High temperatures across the majority of Minnesota will be in the 80s or 90s on Saturday, according to NEXT Weather meteorologist Lisa Meadows.
WCCO meteorologist Lisa Meadows says we are heading into a long, hot stretch of weather.
An opportunity to take a trip around the world in a single day. The International Festival of Burnsville is taking place in July 18, 2026.
Lumberjack Days heads into Stillwater July 17-29, 2026. Here's what you can expect if you attend.
Freedom Schools across the Twin Cities foster environments that support young people.
Reg Chapman updates on the latest news of the day.
Hot and humid conditions are here to stay across Minnesota for the next several days. Meteorologist Adam Del Rosso has the latest on the heat wave.