Federal Reserve hikes interest rates 0.25 percentage point
While the central bank is slowing its rate increases, Jerome Powell told investors not to expect lower rates this year.
Federal Reserve
Debt ceiling deadline explained
If Congress doesn't act, financial experts warn interest rates could go up on loans and mortgages, and the stock market could be in for another bumpy ride.
October inflation numbers out today
A slight decrease is expected, but it will still be a long way from the feds goal of 2%. CBS2's John Dias has the details.
Fed lifts interest rates another 0.75 percentage point
Latest jump is the fourth supersized rate hike this year, as the central bank tries to subdue stubbornly high inflation.
This is how the Fed's latest interest-rate hike will affect you
The central bank said it is boosting rates by 0.75 percentage point. Expect to pay more for credit card debt and loans.
U.S. GDP declines again
The economy shrank again in the second quarter, fueling debate about whether or not the country is in a recession. CBS News reports.
Federal Reserve announces interest rate hike
The Federal Reserve, as expected, announced it is raising interest rates by three-quarters of a percentage point to help tamp down inflation. CBS News' Tanya Rivero and Christina Ruffini get analysis of the economic and political impact from Ted Rossman, senior industry analyst at Bankrate.com; CBS News political correspondent Caitlin Huey-Burns; and Michelle Singletary, Washington Post personal finance columnist.
Fed expected to raise interest rates again
The move is meant to curb historically high inflation.
Federal Reserve hikes key interest rate by another 75 basis points
The rise in the federal funds rate, which is what banks charge each other for overnight loans, comes as several significant pieces of economic data are released this week.
Experts predict especially busy week on Wall Street
As CBS2's John Dias reports, there are a number of factors contributing to this key week for the state of the economy.
Feds raise interest rates to combat record inflation
This comes as Americans see consumer prices skyrocket on everything from groceries to gas. CBS2's Elijah Westbrook reports.
Federal Reserve raises interest rates amid fears of inflation
CBS2's Nick Caloway has more on what this could mean for your wallet and investments.
Federal Reserve hikes interest rates 0.75 percent
Move comes in an effort to put the breaks on rising costs, but it means loans and credit cards will cost more.
Fed hikes key interest rate 0.75 percentage points as it battles inflation
"Inflation is much too high," Fed Chair Jay Powell said of the U.S. central bank's largest rate hike since 1994.
Concerns about Wall Street have many worried about their retirement funds
Markets tried to shake off Monday's massive losses. On Tuesday, the S&P 500 fell yet again.
Fordham economics professor makes tough predictions on inflation
Dr. Giacomo Santangelo makes some painful predictions after an already difficult pandemic
The Fed hikes rates the most since 2000. Here's the impact.
Economists expect a sharp increase in borrowing costs. That could impact credit cards, loans and other debt.
Fed expected to raise interest rates
Consumers could soon feel a bigger squeeze on credit cards, debts and mortgages.
Fed's interest rate hike may mean a tighter squeeze for consumers
Many consumers are going to feel a tighter squeeze after the Federal Reserve announced Wednesday it's raising interest rates.
Federal Reserve raising interest rates
Many consumers are going to feel a tighter squeeze after the Federal Reserve announced Wednesday it's raising interest rates. It's the first hike since 2018, and it's meant to combat soaring inflation; CBS2's Meg Baker reports.
The Squeeze: Fed Set To Raise Interest Rates In March
That means you'll likely be paying more for certain loans. CBS2's Jessica Moore has advice from the experts.
New York Reports Most Single-Day New COVID Cases Since Start Of Pandemic, Slowing Manhattan's Economic Comeback
Gov. Kathy Hochul announced 40 new pop-up vaccine sites would open statewide.
Federal Reserve Rationing Distribution Of Coins To Banks Amid Coronavirus Pandemic
Some retail stores are now telling customers to use exact change or pay by credit or debit card.
Dow Sinks Almost 800 Points Despite Surprise Fed Interest Rate Cut To Counter Coronavirus
Investors seem unimpressed with the Federal Reserve's largest interest rate cut since 2008, pushing down stocks amid mounting concerns over the coronavirus.
What To Watch From The Fed Wednesday
Federal Reserve Chairman Jerome Powell will hold a news conference Wednesday, as the fed is expected to raise its key short-term interest rate again this year.
CBS News New York — Watch Live 24/7
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Gov. Murphy remembers New Jersey native killed in Ukraine
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Mayor Adams joins asylum seekers at Brooklyn Cruise Terminal
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Red Alert: Dangerously cold temps, wind chills sweep region
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Suspected Chinese spy balloon shot down off South Carolina coast
Secretary of Defense Lloyd Austin said President Biden authorized the operation to shoot down the balloon.
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Mayor Adams joins asylum seekers at Brooklyn Cruise Terminal
Some asylum seekers and activists had raised concerns about temperatures at the new shelter.
1 person killed in Washington Heights apartment fire
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Red Alert: Dangerously cold temps, wind chills sweep region
The arctic blast shattered records throughout the Northeast.
Brooklyn apartments lose power on freezing morning
After a brief outage overnight, the massive housing complex lost electricity again.
Tribute marking 24 years since killing of Amadou Diallo in the Bronx
Diallo, a 23-year-old student from West Africa, was unarmed when officers shot him in the doorway of his home on Feb. 4, 1999.
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Connecticut governor proposes canceling overdue medical debt
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CDC: Outbreak associated with EzriCare Artificial Tears
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What do some soccer cleats and pet foods have in common? They can both be made with kangaroo leather or meat.
FAA: Single-engine plane crashes during take-off in Hartford
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Connecticut gov. taking steps in effort to end gun violence
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Gov. Murphy remembers New Jersey native killed in Ukraine
United States Marine Corps veteran Pete Reed died after a missile hit his vehicle Thursday.
2 planes clip wings at Newark Liberty International Airport
One of the planes was full of passengers during the collision, officials said.
FBI joins investigation into apparent murder of N.J. councilwoman
The manhunt for Eunice Dwumfour's killer continues as investigators search for answers.
Bridge, tunnel & rail advisories issued for New York City
Drivers and riders are urged to plan ahead and consider allowing for extra travel time.
NJ man accused of illegally entering Morris Co. high school
When confronted by staff, he allegedly claimed to be a student and then left the school.
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Scammers target families asking for help finding lost pets
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Nurses at Northwell South Shore vote to strike
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NYPD officer accused of spying for China speaks out
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Port Washington approves fence to protect child with autism
Amid intense opposition from many in the neighborhood, others have since rallied around the Bovis family.
Calls for federal monitor to oversee George Santos' campaign funds
Nassau County Legislator Josh Lafazan joined residents outside Santos' district office in Douglaston, Queens.
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Yusef Salaam, member of Exonerated 5, to run for NYC Council
Salaam has worked as a criminal justice reform advocate and serves as an Innocence Project board member.
George Santos may owe thousands for traffic violations in two states
At least 16 unpaid tickets, totaling more than $3,400, are tied to a car associated with Santos, records show.
Blinken postpones trip to China as balloon flies over U.S.
Secretary of State Antony Blinken has postponed a planned high-stakes weekend diplomatic trip to China.
Biden says U.S. will "take care of" suspected Chinese spy balloon
U.S. military leaders recommended against shooting it down as it crossed over the middle of the country due to danger from debris, a senior defense official said.
Hochul announces $1 billion to improve access to mental health care
The governor said there's a huge need for psychiatric beds, in particular.
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Doctors recommend fallopian tube removal to prevent cancer
The recommendation is for patients who are done having children and already undergoing a procedure.
Harlem woman shares heart health scare to help others
Andrea Mapp was days away from cardiac arrest when she finally went to check on her shortness of breath.
CDC: Outbreak associated with EzriCare Artificial Tears
The CDC says one person in Washington state has died, and five others suffered permanent vision loss.
Young woman shares how doctors saved her life with CPR
Brittany Williams had no pulse for eight minutes, but she lived to share her story thanks to the help of strangers.
Hochul announces $1 billion to improve access to mental health care
The governor said there's a huge need for psychiatric beds, in particular.
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2023 Grammys: How to watch Beyoncé vs. Adele, Bad Bunny and more
Beyoncé and Adele will once again contend for top honors, while Lizzo and Harry Styles return and Bad Bunny makes history.
CBS2's Mary Calvi pens new book: "If a Poem Could Live and Breathe"
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How will Netflix stop you from sharing your password?
Streaming company said a crackdown is coming by March, but a similar effort in other countries yielded mixed results.
2023 Grammys will celebrate 50 years of hip-hop
Hip-hop legends like Busta Rhymes, Missy Elliott, Queen Latifah, Run DMC and many more will perform.
500 NYC Public School teachers treated to free Broadway show
The event is a collaboration between the Broadway League and the United Federation of Teachers.
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Watch HBCU basketball: Grambling State at Alabama State
You can stream the games on CBSNewYork.com.
Nets guard Kyrie Irving reportedly requests trade
Irving's relationship with the Nets has been tumultuous at times since he was signed in 2019.
Barrett scores 30, helps Knicks hold off Heat
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The Nets dropped to 4-7 since Kevin Durant sprained his right knee on Jan. 8.
Tom Brady announces retirement 'for good' from NFL
Tom Brady announced on Wednesday that he is retiring from the NFL – again.
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Royal Rib House: Barbecue is a family legacy in Bed-Stuy
"I have a lot of people in my life that have come and passed through this business, and it's just a great thing. It's a great part of Brooklyn," owner Jason Barnett told CBS2's Elle McLogan.
Yonah Schimmel Knish Bakery: An age-old family recipe is a staple of the Lower East Side
"If you haven't tried a Yonah Schimmel knish, you've really never had a knish," co-owner Ellen Anistratov told CBS2's Elle McLogan.
S&S Cheesecake: A secret family recipe endures in the Bronx
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Agora: Mattituck's 'Little Greek Market' celebrates a family's heritage
"Both Greek and non-Greek customers that have been to Greece say, 'Oh, my god! This reminds me of a little shop in Greece,'" owner Joanne Cosonas told CBS2's Elle McLogan.
Magic Fountain ice cream: Mattituck's year-round purveyor of flavors familiar and unexpected
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Tributes for Damar Hamlin from Buffalo and beyond
The Buffalo Bills safety is showing remarkable signs of recovery after collapsing on the field during a game.
Thousands brave the rain to ring in 2023 in Times Square
The rain didn't stop thousands of spectators from packing Times Square on New Year's Eve to ring in 2023.
Remembering Pope Benedict XVI's trip to New York City
Pope Benedict XVI traveled around the world, but one of the most poignant trips was to New York City in 2008.
Remembering Pelé's time in New York
The Brazilian soccer legend died Thursday at the age of 82.
The highest-paying college majors in 2022, ranked
These college degrees are worth the money.
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Shop Local Saturday: Montclair Brewery
Beer from Montclair Brewery is available at Whole Foods in New York and home delivery in 47 states, CBS2's John Elliott reports.
Shop Local Saturday: deVINE Plantery
Owners Maya Haynie and Kelly Brown have been friends since they were 8 years old, CBS2's John Elliott reports.
First Alert Weather 101 at South Mountain Elementary School
Third graders in South Orange, New Jersey had fun with CBS2 and the Mobile Weather Lab.
Amadou Diallo shot and killed by police 24 years ago
Civil rights activists will attend a tribute to Diallo in the Bronx on Saturday.
Yusef Salaam, of Exonerated Five, to run for New York City Council
Since his release, Salaam has worked as a criminal justice reform advocate and serves as an Innocence Project board member.
