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.
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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.
An earthquake struck in Sleepy Hollow, N.Y. in Westchester County Tuesday morning.
Mayor Zohran Mamdani is expected to announce hundreds of additional seats for New York City's 3-K program on Tuesday.
A three-alarm fire was reported Tuesday morning at West Side Elementary School in Laurel Hollow on Long Island.
Defense Secretary Pete Hegseth said Tuesday that it would be the "most intense day" of strikes against Iran so far.
Markets stem losses as Trump says Iran war will end "very soon," but Tehran says it's "prepared to continue attacking" indefinitely, and it won't let oil leave the Gulf.
An earthquake struck in Sleepy Hollow, N.Y. in Westchester County Tuesday morning.
Mayor Zohran Mamdani is expected to announce hundreds of additional seats for New York City's 3-K program on Tuesday.
Data shows a massive increase in pump-and-dump schemes over the last year. Two traders from New York say it cost them tens of thousands of dollars.
NYPD Officer Sorffly Davius, who died in Kuwait over the weekend on deployment for Operation Epic Fury, was honored with a dignified transfer.
The escalating war in Iran is having a serious impact on gas prices. However, there may be hope on the horizon.
Thunderstorms are expected in New York, New Jersey and Connecticut this weekend after severe weather hit the Midwest.
Periods of rain will move through the New York area Thursday, but spring temperatures are on the way for the weekend.
Snow and rain will make for messy morning and evening commutes for New Yorkers on Tuesday. It's a First Alert Weather Day.
The Tri-State Area's weekend is looking like a tale of two seasons with both snow and sunshine.
Another round of snow is impacting the Tri-State Area Wednesday, just after a major blizzard dumped more than 2 feet of snow in some parts of New York and New Jersey.
Thunderstorms are expected in New York, New Jersey and Connecticut this weekend after severe weather hit the Midwest.
While the money promised by Gov. Mikie Sherrill will help Phillipsburg make sinkhole repairs, it won't be enough to get everyone back in their homes.
The suspect allegedly used Google Translate to threaten to shoot a cashier at Mi Rinconcito Ecuatoriano in Newark.
Americans coming from the Middle East arrived at JFK Airport on Thursday and said the U.S. evacuation plan after attacking Iran was grossly insufficient.
New Jersey E-ZPass users could soon be able to ditch the tags mounted to their windshields to pay tolls.
A three-alarm fire was reported Tuesday morning at West Side Elementary School in Laurel Hollow on Long Island.
Data shows a massive increase in pump-and-dump schemes over the last year. Two traders from New York say it cost them tens of thousands of dollars.
Virtual reality is helping some veterans on Long Island travel the world again without leaving their nursing home.
Many of these Long Islanders believe their section of New York's shoreline is shrinking because of the brutal winter.
John Miro, a 70-year-old Long Island crossing guard who was struck by a driver while on the job last week, has died, police confirm.
Defense Secretary Pete Hegseth said Tuesday that it would be the "most intense day" of strikes against Iran so far.
The escalating war in Iran is having a serious impact on gas prices. However, there may be hope on the horizon.
Some say Mamdani's remarks on the "ISIS-inspired" attack were a calculated public relations performance to support the NYPD, an agency he has decried in the past.
At a Miami-area news conference Monday, President Trump said he expects the war in Iran to end "very soon," but also called it "the beginning of building a new country."
Live Nation, the parent company of Ticketmaster, has reached a deal with the Department of Justice as part of a high-stakes antitrust trial.
A new study shows toxic forever chemicals known as PFAS may be entering the food chain on Long Island through contaminated soil, water and air.
Erik Lochtefeld is back to acting and marathon training after a glioblastoma diagnosis and complex surgery at NYU Langone.
HHS Secretary RFK Jr. wants the popular coffee chains to prove their surgery drinks are safe for teens and suggested the Trump administration could place limits on your cup of coffee.
Failed contract agreements between Mount Sinai and Anthem have caused thousands of New York patients to lose in-network care.
New York Attorney General Letitia James' office has ordered NYU Langone Health to resume its Transgender Youth Health Program.
A woman was arrested on Sunday for firing multiple shots at the Beverly Hills home of Rihanna, Los Angeles Police Department officials say.
Actress Daryl Hannah explains why the depiction of herself in the FX miniseries "Love Story" is unacceptable in an op-ed in Friday's New York Times.
Justin Timberlake is suing Sag Harbor to prevent the release of bodycam video of his 2024 arrest for driving while intoxicated on Long Island.
Brian Anthony Moreland is a Tony Award-nominated producer who has worked on numerous hit shows and joins a short list of Black producers working on Broadway.
Pokémon fans across New York City waited in live for special events marking the franchise's 30th anniversary.
Mika Zibanejad had two goals and an assist, and the New York Rangers scored on three power plays in a 6-2 win over the Philadelphia Flyers on Monday night.
Baltimore Ravens' tight end Isaiah Likely and All-Pro punter Jordan Stout are following John Harbaugh to the New York Giants, the Associated Press reported.
Minkah Fitzpatrick is coming to the New York Jets and will fill a major need for Aaron Glenn's defense.
John Gibson and Cam Talbot combined to make 31 saves, Dominik Shine scored his first NHL goal and the Red Wings beat the Devils 3-0 on Sunday night.
Wiki Carmona scored two goals against his former team after Prince Owusu found the net on a penalty kick and CF Montreal thumped the Red Bulls 3-0 on Sunday.
Neighbors and local businesses in Long Island City, Queens, say rental trucks parked on streets are impacting daily operations.
Erik Lochtefeld is back to acting and marathon training after a glioblastoma diagnosis and complex surgery at NYU Langone.
Manhattan historians recently discovered a link to the Underground Railroad at the Merchant's House Museum.
The National Dance Institute in Harlem hosts a special camp twice a year to bring together dancers with and without special needs for a dance camp, proving anyone can take center stage.
Could New York City's harsh winter weather end up curbing the number of rats? Here's why experts are saying don't count on it.
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.
Police said a 46-year-old was riding an electric scooter when he hit a pothole and fell off the scooter, hitting his head.
A fire broke out at West Side Elementary School in Laurel Hollow on Long Island early Tuesday morning. CBS News New York's Christina Fan reports.
Firefighters are responding to West Side Elementary School in Laurel Hollow as heavy smoke comes from the building.
Club Calvi's new read is T Kira Madden's debut novel "Whidbey." The book is about three women connected to one man and the aftermath of his murder.
New York City Mayor Zohran Mamdani is expected to announce an expansion of free pre-school for some of the city's youngest students. CBS News New York's Elijah Westbrook reports.
