Here's how the Fed's rate cut today may impact your finances
The Federal Reserve just lowered its benchmark rate by 0.50 percentage points. Here's how the move could impact your finances.
Watch CBS News
The Federal Reserve just lowered its benchmark rate by 0.50 percentage points. Here's how the move could impact your finances.
The Fed's decision will lower borrowing costs from a 23-year high as the central bank pivots to shoring up economic growth.
The Fed announced Wednesday that it reduced rates by half a percentage point, which is more than expected. It's the first cut in more than four years, and it's welcome news for millions of Americans, especially home buyers. CBS News New York's Christine Sloan explains.
Thomas Hayes, chairman and managing member at Great Hill Capital, joins CBS New York to discuss the Fed meeting.
Signs that the job market is slowing down are renewing investor concerns that the U.S. economy is losing steam.
The federal reserve announced on Wednesday that interest rates will go unchanged this month but financial analysts signal a cut is on the horizon. Bankrate chief financial analyst, Greg McBride, joins CBS News New York to break down the decision.
The federal reserve announced on Wednesday that interest rates will go unchanged this month but financial analysts signal a cut is on the horizon. Bankrate chief financial analyst, Greg McBride, joins CBS News New York to break down the decision.
The Fed decided not to change rates this week, but announced three cuts that are expected later this year. CBS News Business Analyst Jill Schlesinger is here to help explain.
Fed Chair Jerome Powell announced Wednesday the federal funds rate will stay in the 5.25% to 5.5% range. What does that mean for the economy and borrowers?
CBS News Business Analyst Jill Schlesinger walks us through the results and explains why the Federal Reserve prefers this report, when it comes to inflation.
The average American carries an estimated $6,000 in debt, but Rachel Lauren, founder of Debbie app, says there are ways to dig out.
A decision on interest rates could be announced today as the Fed wraps up its first meeting of the new year.
Wall Street ended the week with stocks at all-time highs, bolstered by investor expectations of Federal Reserve interest rates cuts.
The Federal Reserve has decided to leave interest rates unchanged for now, but there's potential relief for borrowers -- rate cuts could come in the new year. CBS New York's Dick Brennan has more on Wednesday's announcement. Read more: https://cbsloc.al/48cKhnO
Stocks jump after Federal Reserve officials signal they're ready to push down borrowing costs as inflation continues to cool.
In its last rate decision of 2023, the central bank said it is holding its benchmark rate steady amid cooling inflation.
We ask CBS News Business Analyst Jill Schlesinger to break it all down for us.
We hear from CBS News Business Analyst Jill Schlesinger for a look at where the economy stands.
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
Latest hike brings the U.S central bank's benchmark interest rate to its highest level in 16 years.
Central bank officials will announce on Wednesday if they are hiking the federal funds rate for a 10th consecutive time.
The regional lender, whose collapse is the second-biggest bank failure in U.S. history, is the third bank to be seized by regulators since March.
The U.S. central bank eases up its efforts to curb inflation amid concerns about banking industry risks.
The Federal Reserve will announce Wednesday whether interest rates are going up again. We hear from CBS News Business Analyst Jill Schlesinger for what to expect.
All deposit accounts at Silicon Valley Bank and Signature Bank in New York will be guaranteed, the Federal Reserve, Treasury Dept. and FDIC said in a joint statement.
A 41-year-old man was shot on a Bx36 bus at the intersection of East Tremont Avenue and White Plains Road in Van Nest, the NYPD said.
New York City bars and restaurants are cashing in on the New York Knicks' NBA Finals run.
The Stamford Fire Department said high winds ripped the 3,000-square-foot flag off the pole atop the WWE building and sent it flying into electrical wires.
New York Fed survey shows growing concern about household finances and the job market, even as the job market remains solid.
Rescue crews determined the woman fell down the chute and got stuck on a pile of backed-up trash at the Hackensack apartment building.
A 41-year-old man was shot on a Bx36 bus at the intersection of East Tremont Avenue and White Plains Road in Van Nest, the NYPD said.
New York City bars and restaurants are cashing in on the New York Knicks' NBA Finals run.
Fans and businesses are showing their pride as the Knicks return home for Game 3 of the NBA Finals on Monday night.
Gov. Kathy Hochul announced Central Park's Great Lawn will host the largest watch party for the World Cup Final on July 19. Some 50,000 tickets for the Great Lawn watch party will be available, and for free.
The NYPD and Secret Service officials are telling fans who aren't attending Game 3 of the NBA Finals to stay away from the area surrounding Madison Square Garden.
The Stamford Fire Department said high winds ripped the 3,000-square-foot flag off the pole atop the WWE building and sent it flying into electrical wires.
Storms hit the New York City area on Saturday, bringing damaging winds, hail and downpours across the region.
It's unseasonably warm in New York City on Wednesday as humidity adds to the summer-like weather. There's also a slight chance for showers in parts of the Tri-State Area.
It's back to feeling like spring, and even summer on some days, as warm weather and sunshine return to the New York area.
A final round of showers is moving through the New York area in the morning before the rest of the week turns much drier and warmer.
Rescue crews determined the woman fell down the chute and got stuck on a pile of backed-up trash at the Hackensack apartment building.
Tensions rose once again this weekend outside Delaney Hall in Newark after the mayor scaled back local law enforcement.
For half a century, The Valerie Fund has been dedicated to providing care to children with cancer and blood disorders.
Storms hit the New York City area on Saturday, bringing damaging winds, hail and downpours across the region.
A New Jersey nonprofit called The Valerie Fund is celebrating 50 years of providing comprehensive care to children with cancer and blood disorders.
An 18-year-old pleaded guilty Thursday to murder and weapons charges in connection to a deadly shooting at a Long Island house party in 2025.
Storms hit the New York City area on Saturday, bringing damaging winds, hail and downpours across the region.
EPA Administrator Lee Zeldin, who is from Long Island, returned to his home turf Friday to spread the word on what is right with the agency.
A Long Island jury found Steven Schwally guilty of 2nd degree murder for ramming his car into a Deer Park nail salon while drunk.
John Gotti's grandson Carmine Gotti Agnello was arrested Wednesday for allegedly assaulting a woman, Nassau County Police said.
The Trump administration on Monday announced it is seeking to revoke the citizenship of 17 U.S. citizens accused of immigration fraud.
Brad Lander is endorsed by Mayor Mamdani and Rep. Dan Goldman is backed by Gov. Hochul in a race that's turned into one of New York's hottest of 2026.
The top Democrat on the House Intelligence Committee said the timing of the appointment takes FISA Section 702 reauthorization "off the table."
As President Trump prepares to watch the New York Knicks take on the San Antonio Spurs at Madison Square Garden, officials are planning for a heightened security posture, sources said.
EPA Administrator Lee Zeldin, who is from Long Island, returned to his home turf Friday to spread the word on what is right with the agency.
For half a century, The Valerie Fund has been dedicated to providing care to children with cancer and blood disorders.
A New Jersey nonprofit called The Valerie Fund is celebrating 50 years of providing comprehensive care to children with cancer and blood disorders.
New Jersey Gov. Mikie Sherrill is urging people to donate blood ahead of the summer months.
There's no vaccine for the Bourbon virus, nor medicine to treat it, according to the U.S. Centers for Disease Control and Prevention.
Marie Francillion was diagnosed with lung cancer after she was feeling heartburn and shoulder pain. She said she's able to remain hopeful and spend more time with her family because of a different type of treatment.
"Schmigadoon!" — which was tied for the most nominations, with 12 — won Best Musical, and "Liberation" took home the honor of Best Play at the 2026 Tony Awards.
The Broadway revival of the musical (nominated for 11 Tony Awards) depicts drama, joy and heartbreak in the pursuit of the American Dream at the turn of the 20th century, with parallels to the contemporary world, from issues of race to the immigrant experience.
Madonna performed a surprise concert in Times Square weeks before the release of her "Confessions II" album.
Knicks superfan Spike Lee stopped by CBS Mornings to give his thoughts as the Knicks get set to play in the NBA Finals, and he offered his prediction, too.
The 25th edition of the film and media festival opens on Wednesday, showcasing more than 100 world premiere documentaries and narrative features, as well as short films, live music, podcasts and conversations with leading entertainment figures.
New York City bars and restaurants are cashing in on the New York Knicks' NBA Finals run.
Fans and businesses are showing their pride as the Knicks return home for Game 3 of the NBA Finals on Monday night.
Gov. Kathy Hochul announced Central Park's Great Lawn will host the largest watch party for the World Cup Final on July 19. Some 50,000 tickets for the Great Lawn watch party will be available, and for free.
Carson Benge went 5 for 5 with a home run and an RBI triple, leading the Mets to a 7-3 victory Sunday over the struggling Padres.
Cody Bellinger's tiebreaking homer sparked a five-run eighth inning capped by Jazz Chisholm Jr.'s three-run drive, and the banged-up Yankees beat the Red Sox 6-1 on Sunday.
Harlem's historic Cotton Club recently announced it was up for sale. The news comes as jazz clubs across the borough disappear.
Jasir Gipson was shot by a stray bullet at 5 years old while walking with his mother. More than a decade later, he's graduating from high school with nothing but a smile.
Garbage piling up near freight train tracks is frustrating many Maspeth residents.
Residents and elected officials are urging the MTA to reopen the Long Island Rail Road's former Elmhurst station, arguing that the neighborhood has outgrown its current transit options.
Before there was a Brooklyn, there was a flagpole, and since the earliest days of our country, it stood as a symbol of freedom and self-determination.
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 has every angle covered as the Knicks look to move within one win of their first championship in 53 years. Ali Bauman, Alice Gainer, Steve Overmyer and Adi Guajardo have the latest.
Pink brought energy and fun to the 79th Tony Awards as the host at Radio City Music Hall. CBS News New York's Dave Carlin reports.
With so many tourists expected to be in the area for the World Cup, New York City officials are warning people to be on alert to prevent being scammed. Also, Mayor Zohran Mamdani and Gov. Kathy Hochul announced a free watch party for the July 19th final on Central Park's Great Lawn.
Its a beautiful day with highs reaching into the 70s. Enjoy the time outside before there's a chance of storms later in the week. CBS News New York Meteorologist Tony Sadiku has the forecast.
Six people were taken to the hospital after a stabbing incident at New York City's Penn Station Sunday evening. At least five were stabbed, but it's not clear why the sixth person was hospitalized. CBS News New York's Lisa Rozner reports.
