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.
Upper West Side resident Kathryn Detweiler says she lost about $20,000. It all started with a text from someone claiming to be a job recruiter.
Ryan Weathers took a no-hitter into the seventh inning, then gave up a single before Coby Mayo hit a three-run homer off reliever Brent Headrick to lift the Baltimore Orioles over the New York Yankees 3-2 on Monday night.
The Democratic primary in the 10th Congressional District is an intense fight where former New York City Comptroller Brad Lander is trying to unseat Rep. Dan Goldman.
City Council members say requirement for transparent roll-down gates is burdensome for small businesses ahead of the July 1 enforcement deadline.
Tony Mizell says Meta and the New York City Administration for Children's Services bear responsibility for his daughter's death in a $50 million lawsuit.
Upper West Side resident Kathryn Detweiler says she lost about $20,000. It all started with a text from someone claiming to be a job recruiter.
The Democratic primary in the 10th Congressional District is an intense fight where former New York City Comptroller Brad Lander is trying to unseat Rep. Dan Goldman.
City Council members say requirement for transparent roll-down gates is burdensome for small businesses ahead of the July 1 enforcement deadline.
Tony Mizell says Meta and the New York City Administration for Children's Services bear responsibility for his daughter's death in a $50 million lawsuit.
A 1-year-old boy was killed and a pair of 6-year-olds are in critical condition after being injured in an apartment fire in the Bronx on Monday afternoon.
An unsettled pattern continues through the entire Mother's Day weekend in the New York City area.
After summer-like warmth, rainy weather and cooler temperatures return to the New York City area mid-week.
A cool weekend is ahead for the New York City area before warmer weather returns.
Some residual showers may linger into early Sunday morning, but the majority of the rainfall should be over by sunrise.
Amtrak announced Thursday it is suing Metro-North for allegedly blocking nonrevenue trains on a portion of the busy Northeast Corridor for over two months.
Police are investigating after six people were shot at Rosa Parks Boulevard and Godwin Avenue in Paterson, New Jersey.
A man was arrested after a police standoff forced Bridgewater, New Jersey, residents to shelter in place for over 24 hours, officials say.
A woman has been charged with theft for taking a dog outside a Clifton, New Jersey, home in April, police say.
An unsettled pattern continues through the entire Mother's Day weekend in the New York City area.
The owners of Boulevard Drinks in Jersey City's Journal Square said new building owners gave them until May 27 to get out.
Southampton Police shot and killed a 28-year-old man who was stabbing and slashing his mom with a knife on Mother's Day, police said.
Steven Schwally was allegedly drunk when his car slammed into a Deer Park nail salon in 2024. The crash killed four people, including an off-duty NYPD officer.
The threat of a Long Island Rail Road strike is hanging over nearly 300,000 daily riders and could start as soon as Saturday.
The fatal fire erupted just before 1:30 a.m. Sunday at a boarded-up house on Sycamore Avenue in Hempstead, Nassau County fire officials said.
Unions representing thousands of LIRR workers rallied Saturday amid a dispute with the MTA that could trigger their first strike in decades.
The Democratic primary in the 10th Congressional District is an intense fight where former New York City Comptroller Brad Lander is trying to unseat Rep. Dan Goldman.
City Council members say requirement for transparent roll-down gates is burdensome for small businesses ahead of the July 1 enforcement deadline.
President Trump made the comments in a phone interview with CBS News chief White House correspondent Nancy Cordes.
The Rent Guidelines Board might be on the verge of fulfilling Mayor Zohran Mamdani's signature campaign promise after it voted to support hikes ranging from 0-4%.
A new proposal on Long Island could change how quickly a business has to hand over surveillance video to police during an investigation.
Three New Yorkers are among the 18 people being quarantined in Nebraska and Atlanta due to hantavirus concerns.
An American on the repatriation flight began showing symptoms of hantavirus and another "tested mildly PCR positive for the Andes virus," the Department of Health and Human Services says.
More than 100 people from a cruise ship dealing with an outbreak of the rare and deadly hantavirus are set to be disembarked.
Two New Jersey residents were potentially exposed to a person infected with hantavirus, according to health officials.
Three passengers have been evacuated from a cruise ship hit by a hantavirus outbreak, as related cases are confirmed in Switzerland and South Africa.
"The Pitt" star Isa Briones is bringing heightened pride and Filipino presence to both stage and screen.
Broadway's "The Book of Mormon" has canceled two weeks of performances following a fire at the Eugene O'Neill Theatre.
Uzo Aduba and Darren Criss announced the 2026 Tony nominees for select categories on "CBS Mornings" on Tuesday.
Rihanna, Sabrina Carpenter, Madonna, and Beyoncé all wore their best looks to celebrate the "Costume Art" theme at the 2026 Met Gala. Here are some of the best moments, photos, and more from the night.
Firefighters responded to Broadway's Eugene O'Neill Theater Monday morning after a blaze broke out.
Ryan Weathers took a no-hitter into the seventh inning, then gave up a single before Coby Mayo hit a three-run homer off reliever Brent Headrick to lift the Baltimore Orioles over the New York Yankees 3-2 on Monday night.
Queens officials say Jackson Heights is considered one of the most diverse neighborhoods in the city.
The New York Knicks are headed back to the Eastern Conference finals -- and their fans are loving every minute of it.
Hannes Wolf scored three goals for his first hat trick and Nicolás Fernández assisted on all the scores to help lead NYCFC to a 3-0 victory over the Columbus Crew on Sunday.
Eduardo Rodriguez came within two outs of his first complete game, Ryan Waldschmidt had his first three big league RBIs and the Diamondbacks beat the Mets 5-1 on Sunday.
City Council members say requirement for transparent roll-down gates is burdensome for small businesses ahead of the July 1 enforcement deadline.
For more than four decades, residents living beside Brooklyn's District 13 Sanitation Garage in Coney Island have been waiting for the facility to move away from their homes.
There's a swim club in Harlem teaching kids a lifesaving skill, and they're turning timid swimmers into competitors.
The Davis Center at the Harlem Meer is celebrating one year of providing year-round recreation space to New Yorkers while still spreading the word to residents.
Residents displaced by a deadly apartment building fire in Inwood say it was only a matter of time before their building went up in flames.
People dressed in elaborate headgear and paraded up Fifth Avenue for New York City's Easter Sunday tradition.
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.
The annual Easter Parade and Easter Bonnet Festival was held in Manhattan on April 20, 2025.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
CBS News New York's Lonnie Quinn says temperatures should be back up into the 70s and low 80s over the weekend.
Federal data shows the number of victims has quadrupled over the last few years. Last year alone, phony jobs cost Americans a whopping $630 million. CBS News New York's Tim McNicholas reports.
It's now officially one month until the opening match of the FIFA World Cup, and around these parts soccer academy is in session. CBS News New York's Adi Guajardo reports.
They will next be quarantined in Nebraska and Atlanta for up to six weeks. CBS News New York's Allen Devlin has the latest.
A 1-year-old boy was killed and two 6-year-olds were critically injured in Monday afternoon's blaze inside a five-story building in the Fordham section of the borough. CBS News New York's Naveen Dhaliwal reports.
