Stocks tumble on Wall Street as Fed escalates inflation fight
Fed raised key interest rate by three-quarters of a percentage point and signaled it plans to keep rates higher longer.
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Fed raised key interest rate by three-quarters of a percentage point and signaled it plans to keep rates higher longer.
"A sustained rally is likely to require clear evidence that inflation is on a downward trend," a UBS analyst said.
Automotive research company Kelley Blue Book says the average price Americans paid for a new vehicle in August hit a record high of $48,301. That's the fifth consecutive month car prices have risen to record highs.
Borrowing costs for a conventional home loan have more than doubled over the last year.
Inflation eased last month as energy prices tumbled, according to a report closely watched by the Federal Reserve.
Declining oil prices and somewhat lower demand for gas since motorists have been driving a little less have combined to give Americans some relief at the pump.
It's $3.99 a gallon as of Sunday morning.
Jeff Wagner explains how low gas prices may go, and if we can expect this downward trend elsewhere.
The average price for a gallon of regular in the Twin Cities is $4.41.
The average gas price per gallon in Minnesota is about $4.50. But some parts of the state are already well under $4.
On the top ten list of cheapest gas prices in Minnesota, six locations are in or near Hastings -- at a range of $3.68 to $3.88 a gallon. That's up to 70 cents cheaper than the state average.
For 90 minutes Sunday, a Forest Lake gas station dropped its prices more than $2 a gallon. David Schuman shares the statement they were trying to make about inflation.
For 90 minutes Sunday, a Forest Lake gas station dropped its prices more than $2 per gallon.
The national average has fallen for four straight weeks. Minnesota's gas average is $4.50 per gallon.
According to AAA, the average price for a gallon of unleaded in Minnesota is now $4.59 a gallon, down roughly 20 cents from this time last month.
According to AAA, the average price for a gallon of regular in Minnesota is at $4.59, down nearly 20 cents from last month.
High gas prices take a hit on our wallets, but they could also take a hit on how quickly you get help when it matters most.
Ambulance services are mostly paid through insurance reimbursements that are at locked-in rates.
Gas prices are continuing to trend downward. Prices are down more than 30 cents nationwide in the past month, falling to $4.68 a gallon on average.
Whether you're on the open road, or open water, high gas prices are unavoidable. But they could be coming down soon.
As Minnesota's average price for gasoline maintains a price near $4.75 a gallon heading into the heart of summer, marinas along the St. Croix River are averaging prices up to $2 more.
The idea, which would require the support of Congress, is already being met with skepticism.
The national average fell to $4.99. The slight drop follows weeks of increases.
Gas is high, really high. But as it turns out, some of the people you may think would be benefitting from these sky high prices are hurting, just like the drivers.
As statewide averages near $4.75 Friday, many are making the decision to host a vacation closer to home.
Jamal Murray scored 30 points, going 16 of 16 from the free-throw line and Nikola Jokic had a triple-double as the Denver Nuggets shook off a sluggish start to beat the Minnesota Timberwolves 116-105 in the opener of their first-round playoff series.
Officials say more than 100 homes were damaged and one person was injured in a "significant tornado outbreak" across Minnesota, Wisconsin and Iowa on Friday.
The Dallas Stars and Minnesota Wild are getting ready to start a first-round playoff series that has been expected for months.
Temperatures will only get to the mid-40s on Saturday. Breezy winds will keep wind chills in the 30s under a mix of clouds and sun.
Eugenio Suárez went 2 for 3 with a double and two RBIs, Brandon Williamson allowed a run in 5 1/3 innings, and the Cincinnati Reds beat the Minnesota Twins 2-1.
The Hopkins Police Department says officers were dispatched to the area of Feltl Court and Smetana Road for a reported shooting around 3 p.m.
The opening was a huge success and just a year later, Erin Flavin opened up her St. Paul location. However, two years ago, she saw a shift that would end up being what she calls the "downfall of Marigold."
Lakeville is home to more than 77,000 residents and is growing quickly. New developments are pushing the city to number one in the Twin Cities for residential building permits in 2025, according to Housing First Minnesota.
"When a crisis happens in Minneapolis, this team is spot on. They are there, they are paying attention to what's going on," said Joni Hodne, director of Minneapolis 911.
A 21-year-old man died in a motorcycle crash in northeast Minneapolis early Friday morning.
Officials say more than 100 homes were damaged and one person was injured in a "significant tornado outbreak" across Minnesota, Wisconsin and Iowa on Friday.
WCCO's crew found multiple houses whose side walls had been torn down; multiple vehicles had been flipped or launched like toys; garages and sheds were leveled.
Residents in Bemidji, Minnesota, reported hearing "multiple explosions" when a structure fire caused propane tanks to blow Thursday afternoon, authorities said.
The U.S. Senate on Thursday voted to end a mining ban near the Boundary Waters in northern Minnesota.
A farm in Monticello, Minnesota, is recovering after a barn fire on Saturday killed dozens of animals, according to the facility.
Officials say more than 100 homes were damaged and one person was injured in a "significant tornado outbreak" across Minnesota, Wisconsin and Iowa on Friday.
A woman was found dead at a complex on the Mississippi River in Winona County, Minnesota, on Wednesday morning.
Gamblers in Wisconsin will still have to wait months or maybe even longer before they can start to legally place bets.
Leaders on the board that oversees the Universities of Wisconsin say that the fired president of the system was slow to address pressing issues like artificial intelligence and feared upsetting policymakers, faculty and staff.
It's one of the largest musky hatcheries in the entire world. John Lauritsen shows us how the Spooner hatchery keeps fish healthy and anglers happy.
Two years ago, Cooper met with his running partner Hulsey through My Team Triumph Minnesota, and the connection was instantly special.
Mackenzie Reed, head custodian at Shakopee East Middle School, has painted large-scale murals throughout the building she once attended as a student, creating a more welcoming space for current students.
Kristi comes to the Salvation Army not only to get food, but to shine her light. She talks with and encourages people waiting in line.
The way Mary Hernandez describes it, the effort to keep families off the street in Shakopee, Minnesota, is like trying to keep your head above water.
Deputy Fire Marshal Shawn Johnson, 61, died March 5 after a two-year battle with job-related cancer, the Minnetonka Fire Department announced.
The deal, approved by the FCC, would create a company that owns 265 television stations in 44 states and Washington, D.C.
Lakeville is home to more than 77,000 residents and is growing quickly. New developments are pushing the city to number one in the Twin Cities for residential building permits in 2025, according to Housing First Minnesota.
Sources close to Supreme Court Justices Samuel Alito and Clarence Thomas tell CBS News neither is planning to retire this year.
President Trump spoke with CBS News Friday in a new telephone interview.
The man accused of attacking two lawmakers and their spouses is expected back in court.
The bills aim to close what supporters call a gambling law loophole, allowing for these prediction markets to flourish with no regulations.
It's a bittersweet changing of kegs and hands in northeast Minneapolis as HeadFlyer Brewing issued a permanent last call on Sunday.
Minnesota continues to beat the national gas price average, but there are still ways to save in the metro area.
A passenger on an American Airlines flight from New York to Chicago has been charged with making a false bomb threat that forced an emergency landing at Detroit Metro Airport last month, according to a federal criminal complaint.
Your car isn't the only vehicle that needs gas. It's a huge budget item for Minnesota fire departments, police and mass transit.
The Hopkins Police Department says officers were dispatched to the area of Feltl Court and Smetana Road for a reported shooting around 3 p.m.
The sentencing for a Minneapolis man who shot and killed his ex-girlfriend minutes after she posted about his abuse on social media is pushed back to Monday, after he failed to show up to court on Friday morning.
A man shot in south Minneapolis Thursday evening should survive, police say.
Federal agents say they executed criminal search warrants at two Twin Cities stores on Thursday as part of an investigation into $2.1 million of Supplemental Nutrition Assistance Program fraud.
A federal jury convicted a Minnesota man of illegally possessing a machine gun while on the way to a Twin Cities high school graduation.
At M Health Fairview Southdale Hospital in Edina, Minnesota, there is an emergency room within the emergency room, focused on mental health.
Lawmakers at the Minnesota State Capitol are searching for solutions, trying to lend a hand to Hennepin Healthcare before it's too late.
The popular afternoon pick-me-up in a cup is like a super food, supplement and medicine cure-all.
At 5 years old, William Staley Olesen is a ball of energy. Watching him run around, laugh and play, it would be hard to know just how much he has already been through.
With a billion in Medicaid cuts, Hennepin Healthcare, a hospital that serves people with or without insurance, will likely close if state lawmakers don't act.
A video game is helping people experience the Ojibwe culture in a new way.
At Mixed Blood Theatre in Minneapolis, a new production is using the stage to explore the impact of immigration and displacement.
Brad Paisley, along with special guest Avery Anna, will take to the stage on Sept. 3.
Minnesota's own Bob Dylan will return to the Twin Cities to play a show at the new Mystic Lake Amphitheater this summer.
Lady Gaga is still slated to perform in St. Paul later this week, despite canceling her Monday night show in Montreal.
Jamal Murray scored 30 points, going 16 of 16 from the free-throw line and Nikola Jokic had a triple-double as the Denver Nuggets shook off a sluggish start to beat the Minnesota Timberwolves 116-105 in the opener of their first-round playoff series.
The Dallas Stars and Minnesota Wild are getting ready to start a first-round playoff series that has been expected for months.
Eugenio Suárez went 2 for 3 with a double and two RBIs, Brandon Williamson allowed a run in 5 1/3 innings, and the Cincinnati Reds beat the Minnesota Twins 2-1.
Two years ago, Cooper met with his running partner Hulsey through My Team Triumph Minnesota, and the connection was instantly special.
Minnesota clinched the program's first NCAA finals appearance in women's gymnastics, joining top three seeds Oklahoma, Florida and LSU to battle for the national title.
From the controversies to the name-calling to bathhouse proposals to perhaps not renewing Police Chief Brian O'Hara's contract, it seems the Minneapolis City Council is always giving us something to talk about.
From the controversies to the name-calling to bathhouse proposals to perhaps not renewing Police Chief Brian O'Hara's contract, it seems the Minneapolis City Council is always giving us something to talk about.
Both the DFL and GOP nominating conventions are the last weekend in May 7, and voting for the Aug. 11 primary begins in June.
Minnesota's hospitals are facing a growing financial crisis amid higher costs, fewer insured patients, shuttering clinics and federal Medicaid cuts.
Minnesota's hospitals are facing a growing financial crisis amid higher costs, fewer insured patients, shuttering clinics and federal Medicaid cuts.
At Arnie Lillo's Creations in Blue Earth County, you can visit a metal-scaled version of the Eiffel Tower and the Golden Gate Bridge. The works of art have taken on a shape of their own.
It's one of the largest musky hatcheries in the entire world. John Lauritsen shows us how the Spooner hatchery keeps fish healthy and anglers happy.
Shattuck-St. Mary's is more than a hockey school, but hockey has helped put the school on the map. They have banners and big names to prove it, though the real evidence lies with a man called Rooster.
Opening Day for the Minnesota Twins is almost here. And across town, the St. Paul Saints are getting ready for their season, too, with some added history.
The Nuss Collection is home to a lot of vintage trucks.
The popular afternoon pick-me-up in a cup is like a super food, supplement and medicine cure-all.
One of the biggest obstacles to exercising can be finding enough time to work out. WCCO explores whether upping the intensity can give someone the same benefits in a shorter amount of time.
Filing your taxes can be stressful. But daydreaming about how to spend that refund makes it worthwhile.
It's estimated that children playing with fire set more than 20,000 fires every year. On average, the fires they start cause nearly 1,000 injuries and 150 deaths each year.
As we all pay more to fuel our cars, drivers might miss the savings hidden right at the pump. It comes down to timing, then adjusting your routine.
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.
The Minnesota State Fair has unveiled its new food, drinks and vendors for 2025.
Some flurries are possible overnight, and the cool weekend continues Sunday.
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.
Officials say more than 100 homes were damaged and one person was injured in a "significant tornado outbreak" across Minnesota, Wisconsin and Iowa on Friday.
Temperatures will only get to the mid-40s on Saturday. Breezy winds will keep wind chills in the 30s under a mix of clouds and sun.
A cool and breezy weekend is ahead, with temperatures only warming into the 40s on Saturday.
Some flurries are possible overnight, and the cool weekend continues Sunday.
Minneapolis parks are cleaner thanks to the hard work of thousands of people.
Who doesn't love bread? If you're hoping to bake some of your own, Clay Coyote is ready to help you get started.
Woodworkers from across Minnesota are gathering together under one roof to show off their best work.
There's a new rage room in the Twin Cities. Reg Chapman and Adam Del Rosso swung by to check out the latest craze.