Here's what the Fed's interest rate pause means for your money
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
Watch CBS News
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
While President Biden called the debt ceiling bill a win, Republicans running for president in 2024 had a difference interpretation.
As President Biden celebrates the budget agreement, his potential 2024 GOP challengers are on the campaign trail.
President Biden delivered remarks from the Oval Office Friday night after Congress passed bipartisan legislation to suspend the U.S. debt limit until 2025. Watch his address in this CBS News Special Report, with analysis from Margaret Brennan and Nancy Cordes.
The president spoke less than 24 hours after the Senate approved the agreement in a bipartisan vote.
Congress agreed to raise the debt ceiling, averting what experts said could have been an economic crisis.
The debt ceiling deal has cleared both chambers of Congress and is headed to the president's desk.
The legislation now goes to President Biden's desk, pulling the nation back from the brink of a financial crisis.
The Senate passed legislation suspending the debt ceiling, sending the bill to President Biden's desk to avoid a U.S. government default that would have caused economic chaos.
The move suspends the nation's debt limit for two years. CBS2's Dick Brennan has the breaking details.
The House passed the bill to raise the debt ceiling Wednesday. Now, the Senate will take it up.
A majority of Democrats and a majority of Republicans voted in favor of the Fiscal Responsibility Act.
The House of Representatives voted Wednesday night to pass a bill that will suspend the debt limit and avoid a catastrophic default. It now heads to the Senate. CBS News congressional correspondent Scott MacFarlane reports from Capitol Hill.
Rep. Thomas Massie broke with two other conservatives on the House Rules Committee to advance the legislation to the House floor.
Congress stands at odds about the deal reached between President Biden and House Speaker McCarthy, but it must pass by June 5 to avoid the government defaulting on its bills.
President Joe Biden and House Speaker Kevin McCarthy announced late Saturday that they had reached an agreement in principle to raise the debt ceiling. Democratic House Minority Leader Hakeem Jeffries tells "Face the Nation" that he expects his caucus to vote for the deal because it "protects" Social Security, Medicare, Medicaid, veterans and the "American people."
CBS2's Cristian Benavides has more on what's in the deal.
After days of intense negotiations and weeks of talks, an agreement in principle has been reached to raise the debt ceiling.
The House Democratic leader said he can guarantee the U.S. will not default on its debt.
Congress will have to pass the deal to raise the country's debt limit and avoid a potential catastrophe for the economy.
President Joe Biden and House Speaker Kevin McCarthy reached the agreement just days before the default deadline. CBS2's Cristian Benavides reports.
With a June 5 deadline looming, negotiations are continuing in Washington this weekend. CBS2's Cristian Benavides reports.
The deadline to make a deal on the debt ceiling has been extended to June 5 as House Republicans and the Biden administration negotiate. Christina Ruffini has more.
Time is running short for House Republicans and the White House to reach an agreement on the debt ceiling to avoid default.
CBS News Business Analyst Jill Schlesinger is here to explain and share some tips to prepare.
Jack Hughes scored twice in a four-goal first period as New Jersey beat Dallas 6-4, ending the Stars' run without consecutive regulation losses.
The New York Knicks beat the New Orleans Pelicans 121-116 on Tuesday night for their seventh straight victory.
The Chicago Blackhawks defeated the New York Islanders 4-3 on Tuesday night.
A Queens man raped a teenager and held her captive in his car for months, and raped and assaulted two others, the district attorney said.
The pilots killed in a collision between a jetliner and a fire truck on a New York runway have been identified as Capt. Antoine Forest and First Officer Mackenzie Gunther.
A Queens man raped a teenager and held her captive in his car for months, and raped and assaulted two others, the district attorney said.
Frustration over long security lines at airports reached new heights on Monday when the delay hit investigators trying to reach the scene of the deadly runway collision at LaGuardia Airport.
A sex offender who was out on parole is back in custody after he allegedly tried to sexually assault a woman in Central Park in broad daylight, police say.
The National Transportation Safety Board on Tuesday released new details on its investigation into Sunday's deadly collision at LaGuardia Airport.
LaGuardia Airport is still rebounding from mounting cancellations and delays after a deadly runway crash late Sunday.
It may not feel like spring right away, but Friday's weather does deliver a clear shift in the air in New York City.
The New York City area will be under a wind advisory Monday with periods of heavy rain and severe thunderstorms expected across the region.
The New York area is in for a mild weekend before the weather takes a turn to start the work week.
It will be rainy on Thursday morning, and the weather will change to snow as temperatures drop across the Tri-State Area.
Thunderstorms are expected in New York, New Jersey and Connecticut this weekend after severe weather hit the Midwest.
Gov. Mikie Sherrill signed an executive order Tuesday that pushes NJ Transit to improve the rider experience.
ICE agents began patrolling at JFK Airport in NYC and Newark Airport in New Jersey on Monday.
The air traffic control tower at Newark Liberty airport in New Jersey was evacuated early Monday, after a report of smoke inside the tower.
Leqaa Kordia, a Columbia University protester who was detained by ICE for more than a year, spoke out Sunday for the first time since her release last week.
Two of the most storied programs in men's college basketball, St. John's and Kansas, will battle it out later Sunday.
A second person was arrested Tuesday in connection with a 2021 acid attack on Long Island college student Nafiah Ikram.
High school students are helping residents in assisted living in Long Island, New York feel a bit more confident with makeovers.
Two of the most storied programs in men's college basketball, St. John's and Kansas, will battle it out later Sunday.
A Long Island teenager accused of killing his ex-girlfriend in November allegedly plotted to burglarize the victim's home.
What started as a sinus infection left a Long Island teenager fighting for his life, requiring emergency brain surgery.
Frustration over long security lines at airports reached new heights on Monday when the delay hit investigators trying to reach the scene of the deadly runway collision at LaGuardia Airport.
Gov. Mikie Sherrill signed an executive order Tuesday that pushes NJ Transit to improve the rider experience.
Democrats are pushing for reforms to Immigration and Customs Enforcement as the Senate appeared to be closing in on a deal to fund the Department of Homeland Security.
Leqaa Kordia, a Columbia University protester who was detained by ICE for more than a year, spoke out Sunday for the first time since her release last week.
New York City Comptroller Mark Levine was the first to sound the alarm about New York City's massive budget gap.
What started as a sinus infection left a Long Island teenager fighting for his life, requiring emergency brain surgery.
Older adults in New Jersey recorded the highest number of suspected overdose deaths in 2025, according to the New Jersey Department of Health.
The first case of mpox clade I has been detected in New York City, health officials said Friday. Of the two types of mpox, clade I is known to cause more severe disease and death.
Heights University Hospital, formerly known as Christ Hospital, shuttered its emergency room Saturday night.
New Jersey Sen. Andy Kim is opening up about his father's Alzheimer's diagnosis in hopes of helping others struggling like him to care for their loved ones.
Jack Hughes scored twice in a four-goal first period as New Jersey beat Dallas 6-4, ending the Stars' run without consecutive regulation losses.
The New York Knicks beat the New Orleans Pelicans 121-116 on Tuesday night for their seventh straight victory.
The Chicago Blackhawks defeated the New York Islanders 4-3 on Tuesday night.
Toumani Camara had career highs of nine 3-pointers and 35 points to help Portland beat the Brooklyn Nets 134-99 on Monday night.
The Rangers recorded just nine shots on goal, matching their lowest total in franchise history, in a 2-1 loss to the surging Senators on Monday,
From World War II to modern mixology, women in Brooklyn fought for their place behind the bar. This Women's History Month, their legacy continues to influence the city's nightlife.
A new performing arts venue with a focus on immigrant stories is opening in Upper Manhattan this fall. CBS News New York's Noëlle Lilley got an exclusive tour of the construction that will give The People's Theatre its first home in more than 15 years.
Members of the Apollo Theater, where Kiki Shepard left her mark for 15 years, reflect on her legacy after the Harlem icon's death at age 74.
The Rev. Al Sharpton is calling on New York City to help protect the Merchant's House Museum in Manhattan after a recent discovery revealed connections to the Underground Railroad.
A Harlem school is teaching students how to love, honor and care for their natural hair.
The Halloween tradition strolled through Manhattan's East Village on Sunday, with furry friends dressed in colorful costumes.
A suspect was taken into custody after an attack on Pearl Street Mall in Boulder on June 1 in which there were 15 people and a dog who were victims. The suspect threw Molotov cocktails that burned some of the victims, who were part of a march for Israeli hostages.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Dogs got decked out for the annual Tompkins Square Halloween Dog Parade in New York City's East Village on Saturday.
Cosplayers flooded New York City's Javits Center in October 2024 for the annual New York Comic Con convention.
President Trump says Iranian negotiators have offered the U.S. an expensive gift. Ed O'Keefe reports from the White House.
Two teenage girls were injured in a shooting outside a Coney Island McDonald's on Tuesday.
Oscar winner and Queens native Adrien Brody is making his Broadway debut playing an exonerated man who was on death row. He stars alongside actress Tessa Thompson, who is also making her Broadway debut. CBS News New York's Dave Carlin reports.
Li-Lac Chocolates in Brooklyn is churning out chocolate bunnies, eggs, and so much more ahead of Easter. CBS News New York's Vanessa Murdock shows us where the magic happens.
There is a fight to keep the High Line pigeon statue in place. It's scheduled to be removed in April.
