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.
New York lost its 12th consecutive game, falling 5-3 to the Twins on Tuesday night.
Giancarlo Stanton hit a solo homer in the second and added a two-run double as the New York Yankees extended their winning streak to four straight with a 4-0 win over the Boston Red Sox on Tuesday night.
Sheridan Gorman, an 18-year-old Loyola freshman, was shot and killed in Chicago last month and an undocumented immigrant from Venezuela is under arrest.
A 2009 New York City law requiring most roll-down security gates to be at least 70% transparent is set to take effect this summer.
The horse captured on incredible body-cam footage last week of an NYPD mounted officer chasing down a suspected purse snatcher was rescued from slaughter off a racetrack.
A 2009 New York City law requiring most roll-down security gates to be at least 70% transparent is set to take effect this summer.
The horse captured on incredible body-cam footage last week of an NYPD mounted officer chasing down a suspected purse snatcher was rescued from slaughter off a racetrack.
An NYPD narcotics canine named Mulk is back on the job after a near-death experience during a drug busts in the Bronx and Manhattan.
A crackdown on gang violence in Nassau County is delivering results with nearly three dozen arrests in the last week, police said.
The NYPD has seized two of the vehicles it says were involved in a chaotic and fiery car meetup over the weekend in Queens.
Colder weather returns to the New York City area this week with sub-freezing temperatures in the suburbs.
New York City's balmy weather proved to be record-breaking for the date of April 15.
Parts of the New York area could see record high temperatures during a summerlike stretch of weather this week.
A major warmup, featuring summer-like temperatures in the 80s, will take over the Eastern Seaboard beginning Monday.
New York City and the Tri-State Area are finally turning the corner to warmer weather this week.
The horse captured on incredible body-cam footage last week of an NYPD mounted officer chasing down a suspected purse snatcher was rescued from slaughter off a racetrack.
The pop-up JBJ Soul Kitchen at the Ocean County Library in Toms River, N.J. will shut down at the end of the month.
A large four-alarm fire ripped through multiple homes in Ridgefield Park, New Jersey, early Tuesday morning.
Federal law entitles students with disabilities to special education services until they turn 21. What happens next is what many caregivers call "the transition cliff."
Much of New York, New Jersey and Connecticut are under a freeze warning Monday night, and that means crops and plants are in danger of dying.
A crackdown on gang violence in Nassau County is delivering results with nearly three dozen arrests in the last week, police said.
Rex Heuermann admitted in court earlier this month that he strangled all his victims to death, but his ex-wife Asa Ellerup heard his confession prior to his plea.
Decades after their theft, rare books worth millions were recovered in New York City after being stolen from venture capitalist John Hay Whitney's Long Island home.
John Gotti's grandson Carmine Agnello is headed to prison in connection with a COVID fraud scheme in New York.
A young Long Island man who overcame autism to graduate high school as valedictorian is now poised to graduate from Hofstra with top honors.
There are some out there who believe Mayor Mamdani may have been the catalyst for the Mets' current 11-game losing streak.
Menin's relationship with Mayor Zohran Mamdani is still a work in progress, but the two agree on Gov. Kathy Hochul's proposed pied-à-terre tax.
Former President Barack Obama met privately with New York Mayor Zohran Mamdani before joining together to read to preschoolers at a child care center in the Bronx.
The deal, approved by the FCC, would create a company that owns 265 television stations in 44 states and Washington, D.C.
President Trump spoke with CBS News Friday in a new telephone interview.
The 16th Annual Lustgarten Foundation New York City Walk for Pancreatic Cancer Research was held Sunday in Battery Park City.
Advocates fear New York state could be taking a step back when it comes to biomarker testing access for those with Medicaid.
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.
The upcoming fashion exhibit at the Metropolitan Museum of Art includes 25 mannequins based on real bodies.
A previously unreleased song is one of many ways Prince is being honored a decade after his death.
Singer-songwriter Gavin DeGraw turned to social media for help reconnecting with a New York City bartender after a memorable performance this week.
New York City Mayor Zohran Mamdani and his wife Rama Duwaji will not attend this year's Met Gala, sources said.
The Rock And Roll Hall of Fame unveiled its list of inductees for 2026, and it includes the Wu-Tang Clan, the legendary, local hip-hop collective.
New York lost its 12th consecutive game, falling 5-3 to the Twins on Tuesday night.
Giancarlo Stanton hit a solo homer in the second and added a two-run double as the New York Yankees extended their winning streak to four straight with a 4-0 win over the Boston Red Sox on Tuesday night.
There are some out there who believe Mayor Mamdani may have been the catalyst for the Mets' current 11-game losing streak.
Cam Schlittler, a native of Walpole, said he and his family have received threats from Red Sox fans ahead of his Fenway Park debut Thursday.
CJ McCollum scored 32 points and the Hawks rallied to stun the Knicks 107-106 on Monday night, tying their first-round playoff series at one game apiece.
A 2009 New York City law requiring most roll-down security gates to be at least 70% transparent is set to take effect this summer.
Recurring elevator problems are back and worse than ever at one New York City high-rise, according to tenants.
Students at M.S. 407 transform a barren space into a habitat for bees and butterflies, part of a broader city push to expand pollinator-friendly green spaces.
Brooklyn officials announced a first-of-its-kind initiative to build sensory rooms in every District 75 elementary school.
New York City Mayor Zohran Mamdani's administration unveiled a dramatic traffic redesign at Brooklyn's Grand Army Plaza.
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.
A driver slammed into two people sitting on a bench in the Bronx on Tuesday, killing one of them. CBS News New York's Naveen Dhaliwal reports.
A bear was spotted lounging in a tree in Albany.
Wednesday is Earth Day, when the world focuses on ways to protect our planet and conserve resources. In the travel industry, some hotels and destinations are shifting to sustainability. Wendy Gillette reports.
New York City kicked off its first-ever Urban Forest Plan on Tuesday.
At least two people were killed and 11 others were injured in the blaze in the Belmont section on Tuesday afternoon.
