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.
The NYPD and the family of Jabez Chakraborty, the Queens man who was shot by police, believe the 911 call proves two different things.
The Rangers traded star winger Artemi Panarin to the Kings on Wednesday, just minutes before the NHL Olympic roster freeze.
Frank Reich and Aaron Glenn are teammates again with the New York Jets, looking to turn around the fortunes of a frustrated franchise.
New York Gov. Kathy Hochul has tapped former New York City Council Speaker Adrienne Adams as her running mate in her 2026 reelection bid.
The states of New York and New Jersey are suing the Trump administration in a high-stakes showdown over the future of rail travel in the Tri-State Area.
The NYPD and the family of Jabez Chakraborty, the Queens man who was shot by police, believe the 911 call proves two different things.
The Rangers traded star winger Artemi Panarin to the Kings on Wednesday, just minutes before the NHL Olympic roster freeze.
New York Gov. Kathy Hochul has tapped former New York City Council Speaker Adrienne Adams as her running mate in her 2026 reelection bid.
The states of New York and New Jersey are suing the Trump administration in a high-stakes showdown over the future of rail travel in the Tri-State Area.
A group of senior dancers aged 70 and up shine on stage at the Korean Community Services' center in Queens. They practice in Flushing twice a week and perform at events citywide.
Bundle up — New York City and the Tri-State Area's stretch of dangerously cold weather continues, and it's sticking around longer than anyone would like.
New York, New Jersey and Connecticut were pivotal during America's birth. This year, as the nation celebrates its 250th birthday, CBS News New York is highlighting the hidden history in our own back yard.
Forecasters are watching for a chance of snow this weekend in New York and New Jersey as harsh winter weather conditions continue.
The First Alert Weather Team is tracking a storm that could bring snow to the New York and New Jersey area. Frigid temperatures will last throughout the week.
Although the snowstorm has passed, the cold weather will linger with temperatures below freezing each day.
The states of New York and New Jersey are suing the Trump administration in a high-stakes showdown over the future of rail travel in the Tri-State Area.
New Jersey has a few programs that can help residents set up payment plans as they deal with skyrocketing utilities bills.
Dozens of residents of a New Jersey nursing home had to be evacuated Tuesday due to a serious water issue.
The Gateway Development Commission is suing the federal government for withholding funding for the critical tunnel project linking New York and New Jersey. Construction will be halted if funding doesn't resume, officials said.
Tensions are running high after reports of U.S. Immigration and Customs Enforcement agents arresting several people in Hoboken and Jersey City earlier Sunday.
More than 300 kilos of cocaine were seized in Nassau County in one of the largest drug busts ever on Long Island, officials said Tuesday.
Nassau County Police Officer Patricia Espinosa was killed Saturday in a car crash on Long Island.
The offshore wind project aimed at powering 600,000 New York homes can resume construction off Long Island, a federal judge ruled.
Authorities say online threats like sextortion are exploding, with predators increasingly pushing violence.
An off-duty Nassau County police officer was killed in a car crash with an alleged drunk driver Saturday morning, police say.
The NYPD and the family of Jabez Chakraborty, the Queens man who was shot by police, believe the 911 call proves two different things.
New York Gov. Kathy Hochul has tapped former New York City Council Speaker Adrienne Adams as her running mate in her 2026 reelection bid.
The states of New York and New Jersey are suing the Trump administration in a high-stakes showdown over the future of rail travel in the Tri-State Area.
Hundreds of people came together in Rockland County on Tuesday night to voice their opinions over a possible change to how county employees interact with U.S. Immigration and Customs Enforcement.
The NYPD on Tuesday released video of the recent police shooting of a man wielding a knife. Mayor Zohran Mamdani said it makes the case to change the way the city responds to mental health calls.
In New Jersey, nearly half a million people lost enhanced Affordable Care Act tax credits this year, but the impact goes far beyond those who got the credits.
Starting July 1, as many as 450,000 New Yorkers will lose EP coverage and be forced into marketplace health care plans.
Striking New York City nurses returned to the bargaining table Thursday, the New York State Nurses Association said.
Mayor Zohran Mamdani and Vermont Sen. Bernie Sanders joined striking New York City nurses on the picket line Tuesday.
New York City's largest nurses strike is now in Week 2 and it appears negotiations toward a deal remain at a standstill.
Two-for-one tickets are returning for New York City's Off-Broadway Week.
The sheriff says the note was sent to a local Arizona news station, which agreed not to report on it, following the disappearance of "Today" show co-host Savannah Guthrie's mother, Nancy Guthrie.
Chuck Negron, a founding member of Three Dog Night whose lead vocals powered a string of hits for one of the top rock acts of the late 1960s and early '70s has died. He was 83.
Popular singer-songwriter Noah Kahan will be bringing his tour to New York City this summer. "The Great Divide" tour will stop at Citi Field on July 18.
Bad Bunny used his Grammy acceptance speech on Sunday to denounce U.S. Immigration and Customs Enforcement and call for the end of the ongoing immigration crackdown.
The Rangers traded star winger Artemi Panarin to the Kings on Wednesday, just minutes before the NHL Olympic roster freeze.
Frank Reich and Aaron Glenn are teammates again with the New York Jets, looking to turn around the fortunes of a frustrated franchise.
American athletes are preparing for the 2026 Milano Cortina Winter Olympics. These are some of the top Team USA competitors to watch.
Bo Horvat scored his second goal of the game 52 seconds into overtime and the Islanders beat the Penguins 5-4 on Tuesday night.
Mathieu Olivier scored twice in the third period, and Elvis Merzlikins made 23 saves for his first shutout of the season as the Blue Jackets beat the Devils 3-0 on Tuesday night.
A group of senior dancers aged 70 and up shine on stage at the Korean Community Services' center in Queens. They practice in Flushing twice a week and perform at events citywide.
A flooded manhole has turned a loading dock into an ice rink in Queens.
Jamaica Colosseum Mall is set to close for good on Jan. 31.
A volunteer effort launched during the winter storm paired younger residents with elderly homeowners, offering snow removal assistance while creating new community ties across generations.
A home-visit initiative in Brooklyn connects aging Holocaust survivors with social workers as war abroad and antisemitism at home reopen old wounds.
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.
The New York fire department said it has more than 80 ice and cold water rescue companies across the five boroughs.
So far, there is no suspect or person of interest in the search to find Savannah Guthrie's mother, Nancy. But, officers do have a ransom note and found evidence at the home. CBS News New York's Jessica Moore reports.
A deadly fire broke out at a South Plainfield home around 5 a.m. Wednesday. CBS News New York's Alice Gainer reports.
The states of New York and New Jersey are suing the Trump administration in a high-stakes showdown over the future of rail travel in the Tri-State Area. CBS News New York's Elijah Westbrook reports.
CBS News New York Meteorologist John Elliott has three words for the wind chills this weekend: brutal, biting and bitter.
