Powell says the Fed was served DOJ subpoenas over building renovations
The subpoenas threatened a criminal indictment related to Jerome Powell's testimony before the Senate Banking Committee in June 2025, according to the Fed chair.
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The subpoenas threatened a criminal indictment related to Jerome Powell's testimony before the Senate Banking Committee in June 2025, according to the Fed chair.
Wall Street rallied on Friday after Federal Reserve Chair Jerome Powell signaled a rate cut could be on the horizon.
Federal Reserve Chair Jerome Powell has been under pressure from President Trump to lower the central bank's benchmark interest rate.
President Trump has lashed out against Federal Reserve Chair Jerome Powell for weeks.
The Federal Reserve is expected to hold its benchmark rate steady at its May 7 meeting. CBS News financial analyst Jill Schlesinger talks more about how those rates affect borrowers versus savers.
Federal Reserve Chair Jerome Powell said in a speech today that President Trump's tariffs are likely to boost U.S. inflation.
Fed Chair Jerome Powell cites "high uncertainty" around the impact of Trump administration tariffs on key trading partners.
Economy showed solid fourth-quarter growth, though roughly a percentage point below economist expectations.
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 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.
Federal Reserve Chair Powell, speaking at a conference in Jackson Hole, Wyoming, said the timing and pace of rate cuts will depend on economic data.
Stocks jump after Federal Reserve officials signal they're ready to push down borrowing costs as inflation continues to cool.
Officials want more data to be confident that inflation is abating, according to the minutes of their July 25-26 meeting.
Although inflation has slowed sharply, Fed officials are again tapping the brakes to ensure the economy slows.
Latest hike brings the U.S central bank's benchmark interest rate to its highest level in 16 years.
The U.S. central bank eases up its efforts to curb inflation amid concerns about banking industry risks.
Inflation's still high, but analysts warn that further rate hikes from the Fed could lead more more banks to topple.
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.
Stronger-than-expected wage data raised expectations Fed hikes will be more aggressive to get inflation under control.
Smaller hike shouldn't be taken as sign central bank will let up on inflation fight anytime soon, Fed chair cautions.
Businesses become slightly less desperate for workers, but there are still 10.3 million open jobs.
Investors cheered after U.S. consumer prices fell last month more than Wall Street expected.
"Hawkish" policy statement from Fed leads investors to abandon hope of easing rate increases.
All three victims are expected to survive, police said.
At Francis Burger Joint in northeast Minneapolis, people gathered to watch a livestream of a No Kings event in New York City, while also honoring former House Speaker Melissa Hortman and her husband, Mark Hortman.
The Minneapolis Police Department said Jayceon Rogers was visiting family on Sunday and was last seen on the 2500 block of Sixth Street North around 5 p.m. Sunday.
Relatively quiet summer weather will continue in the Twin Cities Monday.
The Golden Knights had taken a two-games-to-one lead in the Stanley Cup Finals, but Carolina came roaring back, winning three straight to take home their first championship since the 2005-2006 season.
All three victims are expected to survive, police said.
At Francis Burger Joint in northeast Minneapolis, people gathered to watch a livestream of a No Kings event in New York City, while also honoring former House Speaker Melissa Hortman and her husband, Mark Hortman.
The Minneapolis Police Department said Jayceon Rogers was visiting family on Sunday and was last seen on the 2500 block of Sixth Street North around 5 p.m. Sunday.
Roughly a half hour southwest of downtown Minneapolis, businesses in Shakopee, Minnesota, say they're booming due to area growth.
The 42-year-old woman is facing one count of second-degree manslaughter.
Authorities in central Minnesota say alcohol and speed may have contributed to a crash that seriously injured two people Saturday night.
The driver of an SUV was killed in a head-on collision with a semi truck in central Minnesota Friday afternoon, authorities said.
A motorcyclist died when he lost control around a curve and crashed in northern Minnesota Friday evening, authorities said.
The Minnesota Department of Transportation says an exploding population of mayflies could cause serious trouble for drivers in southeast Minnesota.
Saturday and Sunday will be breezy and cool in the Twin Cities as crisp Canadian air settles in.
A man serving a life sentence in a Wisconsin prison for killing six hunters during a confrontation over trespassing in 2004 has died, officials said.
Two women were involved in a deadly head-on crash Tuesday night in Chisago City, Minnesota.
Attorneys for Salah Sarsour, president of Wisconsin's largest mosque, told a federal judge he has lost 30 pounds and is not receiving consistent medical care for Type 2 diabetes while held in an Indiana jail.
President Trump was in western Wisconsin Friday afternoon to host a roundtable on farming at Custer Farms in Chippewa Falls.
A federal judge heard arguments Wednesday on whether to throw out former Wisconsin Judge Hannah Dugan's felony obstruction conviction, postponing her sentencing indefinitely while he considers the matter.
On the Lake Harriet shoreline in Minneapolis Saturday evening, dozens of children picked up a fishing rod for the first time.
Hours after the announcement, community members were eager to learn more about the one challenged with leading the most scrutinized police department in the country.
Created by Freedom Reads, a nonprofit organization in Connecticut, the Inside Literary Prize is the first major U.S. book award decided exclusively by incarcerated readers.
A 23-year-old man from Brooklyn Park, Minnesota, faces a criminal vehicular homicide charge after prosecutors say he hit and killed a person on a highway, then fled.
Quincy Street isn't just at the center of Art-A-Whirl, it's at the heart of the Arts District in northeast Minneapolis. The road itself, however, is falling apart. And the only thing bumpier than the exposed brick is the reaction to the city's plans to fix it.
President Trump and Iran say they have a framework to end the war.
At Francis Burger Joint in northeast Minneapolis, people gathered to watch a livestream of a No Kings event in New York City, while also honoring former House Speaker Melissa Hortman and her husband, Mark Hortman.
The attacks on Minnesota lawmakers a year ago dramatically changed the tone of a planned No Kings rally. Attendees are reflecting and moving forward.
Lawmakers across the political spectrum say what best defines Melissa Hortman's legacy in St. Paul is that she consistently put people above politics.
The U.S. and Iran are expected to meet for a signing ceremony on Friday, June 19, in Switzerland, Pakistan's prime minister said.
Target is voluntarily recalling two types of baby wipes due to concerns that the products may be contaminated with bacteria that may cause "serious and life-threatening infections," the U.S. Food and Drug Administration said on Friday.
The dream of a woman in Minnesota started with excitement, but quickly unraveled into loss after she said she fell victim to a scheme that targeted more than 30 Spanish speakers.
For years, it was all hands on deck; a business model buoyed by a bevy of free time that sent sales surging in a way never before seen. But as Minnesota enters lake season, outdoor sales for boats, jet skis and more have almost dropped anchor.
Jester Concepts' Monday announcement noted that Borough will mark its remaining five weeks of service through June 27 with events celebrating the restaurant's history, and it encouraged customers to reserve tables during the final weeks.
The Minnesota Department of Agriculture has issued a consumer advisory for four products produced by Milkjam Creamery, an ice cream shop in Minneapolis, due to "the potential presence of metal fragments," the state agency said.
All three victims are expected to survive, police said.
The 42-year-old woman is facing one count of second-degree manslaughter.
A woman is dead and two other people are hurt after a shooting in north Minneapolis early Saturday morning, police said.
A man serving a life sentence in a Wisconsin prison for killing six hunters during a confrontation over trespassing in 2004 has died, officials said.
The suspect, Victor Mata Villarreal, was wanted for attempted murder of a police officer after shooting at law enforcement during a vehicle chase earlier this week, officials said.
Minnesotans weathered the third air quality alert triggered by ozone of the year Monday. If two more happen, it will tie the yearly record.
HCMC in Minneapolis got what they wanted, a large financial boost from lawmakers, and now the leaders of Minnesota's busiest trauma hospital say they'll put their money where their mouths are and get to work restructuring finances.
The studio also incorporates balance and cognitive training to help clients maintain stability and coordination as they age.
Minnesota officials say they have completed a review of almost 5,600 "high-risk Medicaid providers," part of an effort to stave off the federal government's freezing of $2 billion in funding.
Minnesota state officials are feeling pressure from the federal government, working to revalidate thousands of Medicaid providers who operate in programs that are at high-risk for fraud.
Rio de Janeiro's Military Fire Department said one of the helicopters crashed in the parking lot of a car dealership, where several electric vehicles were parked, igniting a fire.
There's plenty to do in Minnesota this weekend, including some major anniversary parties, Maple Grove's ever-popular Chalkfest and much more!
Anthony Head played librarian and mentor Rupert Giles in "Buffy the Vampire Slayer" and recently appeared in "Ted Lasso."
Everywhere you look in downtown Minneapolis, people are sporting purple in honor of Prince.
Chicago Bears quarterback Caleb Williams is on the cover of Madden NFL 27, the first Bear ever to grace the primary cover of the massively popular video game.
The Golden Knights had taken a two-games-to-one lead in the Stanley Cup Finals, but Carolina came roaring back, winning three straight to take home their first championship since the 2005-2006 season.
Ryan Kreidler's RBI double off the center-field wall in the eighth inning scored Luke Keaschall and completed the Minnesota Twins' comeback in a 5-4 win against the St. Louis Cardinals.
A'ja Wilson had 24 points and 10 rebounds to offset a career-high 29 points from Minnesota rookie Olivia Miles and the Las Vegas Aces beat the Lynx 100-97 on Saturday night to take the West lead in the Commissioner's Cup.
The New York Knicks captured their first NBA championship since 1973 with a 94-90 win over the San Antonio Spurs in Game 5 of the NBA Finals on Saturday night.
Blaze Jordan hit his first major league homer and Iván Herrera went deep twice for the St. Louis Cardinals in a power-fueled 9-6 victory over the Minnesota Twins.
After disputes about ballots and concerns about voting totals, businessman Kendall Qualls won the endorsement.
Minnesota's endorsing conventions are over, and the story of the weekend is the upset of House Speaker Lisa Demuth in the GOP governor's race.
Minnesota's election season officially kicks off this week as both major parties hold conventions to endorse candidates for governor and U.S. Senate, with competitive battles on the Republican side and clearer paths for Democrats.
Both parties begin the endorsement process today in Rochester and Duluth, with the August primary just two months away.
Friday, the Democratic and Republican parties begin the process of endorsing nominees for statewide offices.
School's out, summer's here, and if you're heading to the lake on Highway 10, you may just stumble upon hidden treasure.
Nearly 40 years ago, a building was sent over piece by piece from Norway to a farm in Chippewa County, Minnesota. It's one of the only stabburs in the United States.
Minneiska, Minnesota, is a small river town on Highway 61 near the Mississippi River, but at one point it was home to a castle.
The sign is 51 feet tall and 63 feet wide. And when it was built 85 years ago it was one of the largest neon signs in the entire country.
There's a place in Wabasha County, Minnesota, where people go wild for wildflowers.
Minnesotans weathered the third air quality alert triggered by ozone of the year Monday. If two more happen, it will tie the yearly record.
Milder winters mean more ticks survive to the following spring, and a southern species that can trigger a red meat allergy is now gaining ground in Minnesota as a result.
She didn't win her party's endorsement, but Republican Lisa Demuth plans to keep running for governor anyway. History shows that might actually work in her favor.
Cops are cracking down on a popular way to pedal around town.
If you're holding back on spending or worried about losing your job, you are not alone. U.S. consumer sentiment just hit an all-time low this month.
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.
Highs will be in the upper 70s, with a mix of sun and clouds.
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.
Relatively quiet summer weather will continue in the Twin Cities Monday.
Relatively quiet summer weather will continue in the Twin Cities Monday.
WCCO meteorologist Katie Steiner says tomorrow will top out in the upper 70s before rain moves in later in the evening.
Three people were hurt in a shooting during a basketball game in St. Paul, Minnesota, on Sunday, police said.
One of the state’s most dangerous highways is getting a major makeover, plus more of the day’s top stories.
Highs will be in the upper 70s, with a mix of sun and clouds.
President Trump and Iran say they have a framework to end the war.
If you live in the north metro, you're going to notice some big changes this week.