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.
"A Harlem Wedding" is based on the life of Yolande Du Bois, the daughter of civil rights icon W.E.B Du Bois, who married the man her father picked for her despite openly loving someone else
New York City's second city-run grocery store will be in the Bronx, Mayor Zohran Mamdani and city officials announced Monday.
Police are looking for the man they say strangled a child and knocked two more down at a park in Red Hook, Brooklyn.
A New York judge ruled Monday on whether evidence found in Luigi Mangione's backpack during his arrest can be used during his state trial.
LIRR commuters are taking shuttle buses and subways into New York City as the largest commuter rail system in North America remains shut down.
A New York judge ruled Monday on whether evidence found in Luigi Mangione's backpack during his arrest can be used during his state trial.
LIRR commuters are taking shuttle buses and subways into New York City as the largest commuter rail system in North America remains shut down.
With the LIRR strike entering its third day, the MTA and union leaders will resume talks at 7:30 a.m. Monday.
Thousands of people showed up bright and early for AIDS Walk New York 2026, the largest HIV and AIDS fundraiser in the U.S., in Central Park on Sunday.
A summertime weather pattern has moved into the New York Area, bringing potentially record-high temperatures.
The weekend is set to be the warmest of the year so far with summer-like weather across the Tri-State Area.
Keep an umbrella nearby as there's a chance for showers across the New York and New Jersey area. But the weather will turn to sunshine and warm temperatures for the weekend.
The weather on Wednesday will be a mix of sunshine and clouds with the potential for a shower in New York City. In the evening, rain becomes more widespread.
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.
The driver of a Jeep was killed when their vehicle struck a tanker truck on I-287, causing both vehicles to go up in flames, New Jersey State Police said.
With just weeks to go before the primary, voters in New Jersey's 7th Congressional District are wondering where their congressman is.
Macy's Fourth of July Fireworks will take place on both the lower East River near the Seaport and the lower Hudson River, in collaboration with Jersey City.
It was down to the wire for one lucky New Jersey lottery winner. A winning $5.9 million Pick-6 lottery ticket was just eight days away from expiring.
The weekend is set to be the warmest of the year so far with summer-like weather across the Tri-State Area.
LIRR commuters are taking shuttle buses and subways into New York City as the largest commuter rail system in North America remains shut down.
With the LIRR strike entering its third day, the MTA and union leaders will resume talks at 7:30 a.m. Monday.
A summertime weather pattern has moved into the New York Area, bringing potentially record-high temperatures.
While the LIRR work stoppage has caused a mess for people heading to weekend events, the real concern is Monday morning's commute.
On Day 1 of the LIRR strike, riders reported their regular trips to and from New York City turned into marathons.
New York City's second city-run grocery store will be in the Bronx, Mayor Zohran Mamdani and city officials announced Monday.
Alex Bores has a master's degree in computer science, but for some reason tech titans are trying to stop his campaign in New York's 12th Congressional District.
While the LIRR work stoppage has caused a mess for people heading to weekend events, the real concern is Monday morning's commute.
Gas prices, inflation weigh on Americans. Many see lack of clarity on what's happening in Iran.
The work stoppage, the LIRR's first since 1994, went into effect after the MTA and five unions representing 3,500 workers failed to reach a deal on a new four-year contract.
Thousands of people showed up bright and early for AIDS Walk New York 2026, the largest HIV and AIDS fundraiser in the U.S., in Central Park on Sunday.
A New York doctor who contracted and survived Ebola more than a decade ago says he is worried for healthcare workers who are at the center of treating the latest outbreak.
New York Gov. Kathy Hochul proposed millions to keep the program open, but the reforms would cut reimbursement rates for private duty nurses.
A New York native is among 16 American passengers who are quarantining in Nebraska after being on the cruise ship that is at the center of the deadly hantavirus outbreak.
American passengers on the MV Hondius cruise ship, which was hit with a deadly outbreak of the hantavirus, are back in the U.S. Three of the at least 10 people confirmed infected in the outbreak have died.
The well-known film critic and journalist Rex Reed has died at 87.
"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.
Tyrone Taylor hit a game-tying three-run homer off All-Star closer David Bednar with two outs in the ninth as the Mets rallied to defeat the Yankees in 10.
Luke Weaver escaped a bases-loaded, no-outs jam against his former team as the Mets beat the Yankees Saturday night to even the Subway Series.
Anunoby has the maximum amount of time to rest before Game 1 of the NBA Eastern Conference finals.
FIFA President Gianni Infantino joked that if someone does pay $2 million for a ticket to the World Cup final, "I will personally bring him a hot dog and a Coke."
Cole likely has one more minor league rehab start in his recovery from elbow surgery before he rejoins the New York Yankees starting rotation.
Ahead of the 2026 RBC Brooklyn Half Marathon, some athletes are showing how simply reaching the starting line is a victory.
The Second Avenue Subway project has entered phase two of extending the "Q" line, but Harlem businesses say they're struggling to co-exist with the construction.
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.
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.
Union representatives spoke about progress in the negotiations with the MTA to end the LIRR strike Monday afternoon.
Devens, the unofficial king of chaos for "Survivor 50," spoke about how the game went this season.
Dr. Micaela Bayard, a rheumatologist with Mount Sinai-Queens, spoke with Chris Wragge about what makes Lupus so hard to diagnose, and what people should look out for.
MTA negotiators spoke to the press Monday afternoon to give an update on their negotiations with striking workers.
Tiffany L. Warren discusses her new novel "A Harlem Wedding," based on the life of Yolande Du Bois, daughter of civil rights icon W.E.B Dubois, who married the man her father picked for her despite openly loving someone else.
