Feds Keep Benchmark Interest Rate Unchanged, Signal Future Hikes
Private economists expect the next hike to occur at the September meeting with a fourth rate hike expected in December.
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Private economists expect the next hike to occur at the September meeting with a fourth rate hike expected in December.
The gain in spending followed an even better 0.5 percent rise in May, which was revised from a 0.2 percent initial estimate, the Commerce Department reported Tuesday.
President Donald Trump's top economic policymakers insisted Sunday that the robust growth marked in the April-June quarter will maintain its pace.
The news of a second summit comes as the White House is still trying to clarify what was said at the first meeting.
Americans increased their borrowing in May at the fastest pace in a year and a half, boosted by a big increase in credit card borrowing.
With the Federal Reserve announcing it's raising interest rates and the Supreme Court ruling states can impose sales tax on more online purchases, what does this mean for your wallet?
If you're like most Americans, you're probably carrying some credit card debt.
Officials said a generator on the roof caused a fire in a chimney.
The Federal Reserve is raising interest rates after seven years of record lows. But it's signaling that further rate hikes will likely be made slowly as the economy strengthens further and muted inflation rises.
Some Twitter accounts for the New York Post and UPI, as well as the news agency's website, were briefly hacked Friday.
The Senate has easily approved Brooklyn native Janet Yellen's nomination to head the Federal Reserve.
Yellen graduated from Brown and Yale and taught at Harvard, but Brooklyn Borough President Marty Markowitz said her trajectory to success began before she ever arrived as those distinguished institutions.
Federal prosecutors said the Bangladesh native was in the process of trying to detonate what he thought was a 1,000-pound bomb packed into a van parked on Liberty Street near the building.
The stock market closed at a record high after Federal Reserve Chairman Ben Bernanke said the central bank would continue to support the U.S. economy.
The book centers around the Federal Reserve. If you think the Fed, isn't interesting fodder for a thriller, check this book out to see just how wrong you are.
Quazi Mohammad Rezwanul Ahsan Nafis, 21, apologized, saying " I no longer support violent Jihad. I deeply and sincerely regret my involvement with this case."
A continued economic recovery for 2013 has been forecast for Connecticut by a Federal Reserve Bank economist who spoke to businesspeople in Stamford Friday.
Quazi Mohammad Rezwanul Ahsan Nafis is charged with attempting to use a weapon of mass destruction and attempting to provide material support to a foreign terrorist organization.
Just who is Quazi Mohammad Rezwanul Ahsan Nafis, the suspect in the bomb plot targeting the Federal Reserve Bank in Lower Manhattan? Prosecutors said he formed his plan to attack the U.S. even before he left Bangladesh.
Quazi Mohammad Rezwanul Ahsan Nafis was arrested Wednesday in an FBI sting operation. A criminal complaint said he made several attempts to blow up a fake 1,000-pound the bomb inside a vehicle parked next to the Federal Reserve.
Quazi Nafis was arrested by the FBI Wednesday after making several attempts to detonate a fake 1,000-pound bomb inside a vehicle parked next to the Federal Reserve on Liberty Street, according to a criminal complaint.
Sources said officials want to question several people, including a co-conspirator Nafis talked to about the plot. That person was arrested Wednesday in San Diego on unrelated child porn charges.
Schumer said the student visa Nafis obtained from a Missouri university is legitimate, but said his quick transfer to a university in the city should have raised a red flag.
Bloomberg said this incident should remind New Yorkers to not become complacent.
According to a federal complaint, Quazi Nafis was aware a bomb planted outside the Federal Reserve Bank would likely cause the deaths of many people, including women and children.
"The people are there to see these two teams play," Bill Bradley said of President Trump's plan to attend Game 3 of the NBA Finals on Monday night.
Leaders of the Penn Station renovation unveiled a bold new design with a soaring Eighth Avenue entrance and bright concourses.
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.
Leaders of the Penn Station renovation unveiled a bold new design with a soaring Eighth Avenue entrance and bright concourses.
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 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 people are there to see these two teams play," Bill Bradley said of President Trump's plan to attend Game 3 of the NBA Finals on Monday night.
Leaders of the Penn Station renovation unveiled a bold new design with a soaring Eighth Avenue entrance and bright concourses.
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."
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.
"The people are there to see these two teams play," Bill Bradley said of President Trump's plan to attend Game 3 of the NBA Finals on Monday night.
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.
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.
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.
A woman was severely injured when she fell 10 stories down a trash chute and got stuck, New Jersey officials said. CBS News New York's Christine Sloan reports.
Leaders of the Penn Station renovation unveiled a bold new design with a soaring Eighth Avenue entrance and bright concourses. CBS News New York's Marcia Kramer reports.
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. CBS News New York's Naveen Dhaliwal reports.
History is being brewed back to life in Brooklyn, using George Washington’s centuries-old recipe. CBS News New York's Vanessa Murdock reports.
