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.
A cool weekend is ahead for the New York City area before warmer weather returns.
A federal appeals court has restricted access to one of the most common means of abortion in the U.S. by blocking the mailing of mifepristone.
Between the FIFA World Cup and America 250 celebrations, there's a lot going on in New York City this summer, and security will be tight.
A man who was shot inside the Freehold Borough Public Library in New Jersey on Thursday remains in critical condition, officials say.
A suspect in a deadly shooting at a Chick-fil-A in New Jersey has been arrested, police say.
A cool weekend is ahead for the New York City area before warmer weather returns.
Between the FIFA World Cup and America 250 celebrations, there's a lot going on in New York City this summer, and security will be tight.
The NYPD has released harrowing bodycam video of a deadly police shooting of a man with a machete who had slashed three people at Grand Central Station.
Thousands rallied on International Workers' Day across the five boroughs, including on Wall Street, where hundreds blocked the New York Stock Exchange.
The Trump Administration is once again taking aim at New York City's congestion pricing program.
A cool weekend is ahead for the New York City area before warmer weather returns.
Some residual showers may linger into early Sunday morning, but the majority of the rainfall should be over by sunrise.
Amtrak announced Thursday it is suing Metro-North for allegedly blocking nonrevenue trains on a portion of the busy Northeast Corridor for over two months.
The Tri-State Area has the dirtiest air in the U.S. east of Texas, according to The American Lung Association's newly released "State of the Air" report.
Colder weather returns to the New York City area this week with sub-freezing temperatures in the suburbs.
A cool weekend is ahead for the New York City area before warmer weather returns.
A man who was shot inside the Freehold Borough Public Library in New Jersey on Thursday remains in critical condition, officials say.
A suspect in a deadly shooting at a Chick-fil-A in New Jersey has been arrested, police say.
FIFA and NJ Transit said unsanctioned shuttle and bus companies will not be allowed to drop off ticketholders at MetLife Stadium.
A shooting at a library in Freehold, New Jersey, is under investigation.
A suspect is in custody after two people were stabbed to death on Long Island early Friday morning, Nassau County police said.
Suffolk County officials say contamination from a former Grumman Navy site is far worse than previously acknowledged and is still spreading.
The Suffolk County Police Department has converted a seized 2020 Corvette Stingray Coupe into a full-fledged police car, with lights and siren, to raise awareness about driving while under the influence.
Residents said anti-Muslim vandalism was found on at least eight stop signs in the area of Carto Circle in Deer Park.
Rumblings of a possible LIRR strike are putting commuters on edge. The MTA says it's preparing for a potential walkout, while union leaders say they're fighting for a fair deal.
Thousands rallied on International Workers' Day across the five boroughs, including on Wall Street, where hundreds blocked the New York Stock Exchange.
The Trump Administration is once again taking aim at New York City's congestion pricing program.
Negotiations over a $500 million dollar government aid package for Spirit stalled after bondholders balked at the terms.
The New York governor wants confirmation that ICE agent Jonathan Ross was not moved to New York after the Minneapolis killing of Renee Good.
NYC Mayor Zohran Mamdani is facing pressure from opposing sides regarding a housing voucher program. While some want it to expand, others want to curb its growth.
Keyport residents say they're on edge because of dozens of cancer cases over the years in a neighborhood near the former Aeromarine landfill.
The B.R.O. Experience Foundation uses cognitive behavioral therapy, mentorship and creative expression to support men of color navigating identity.
Travelers at Newark Airport may have been exposed to an individual with measles, New Jersey health officials warn.
The Tri-State Area has the dirtiest air in the U.S. east of Texas, according to The American Lung Association's newly released "State of the Air" report.
The 16th Annual Lustgarten Foundation New York City Walk for Pancreatic Cancer Research was held Sunday in Battery Park City.
"The Ed Sullivan Show" on CBS brought the evolution of rock music into America's living rooms. More than 50 years after Sullivan died, he's getting the ultimate rock 'n' roll honor.
Megan Thee Stallion has decided to end her run with "Moulin Rouge! The Musical" early, the Broadway show announced on Monday.
The woman accusing Harvey Weinstein of raping her at a Manhattan hotel room in 2013 took the stand Monday in the third trial of the disgraced movie mogul.
Ticketmaster will be rereleasing tickets for Harry Styles' upcoming concerts in New York City that were originally purchased by scalpers, the company says.
The upcoming fashion exhibit at the Metropolitan Museum of Art includes 25 mannequins based on real bodies.
FIFA and NJ Transit said unsanctioned shuttle and bus companies will not be allowed to drop off ticketholders at MetLife Stadium.
The Knicks had their biggest playoff victory in franchise history, overwhelming and eliminating the Hawks 140-89 in Game 6 on Thursday night.
The soccer clinic at the Jamaica YMCA turned into a dream come true when the kids were given free tickets to a World Cup match.
The Nationals beat the Mets 5-4 Thursday, dealing reeling New York its 17th loss in 20 games.
The Washington Nationals routed the reeling New York Mets 14-2 on a rainy Wednesday night at Citi Field.
In New York City, where land is at a premium, a stockpile of pristine soil unearthed at construction sites helps lower emissions and support urban farmers.
Have you ever wondered what happens to a restaurant's leftover or unsold food at the end of the day? Food access advocates say it could make a big difference if it were served to the community.
A new report finds a shortage of courts, fields and swimming pools in some New York City neighborhoods.
Residents living near New York City's busiest airports say the noise overhead has escalated from a nuisance to a health concern.
Construction began Tuesday on a major redesign of Flatbush Avenue in Brooklyn.
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 Empire State Building celebrated its 95th birthday Friday.
Episcopal Health Services opened a new outpatient facility in the Rockaways on Friday.
The 40-mile ride through New York City starts Sunday at around 7:30 a.m.
A man who was shot inside the Freehold Borough Public Library in New Jersey on Thursday remains in critical condition, officials say. As CBS News New York's Kristie Keleshian reports, the investigation is still ongoing, and the incident has left the community shaken.
NJ Transit and the FIFA host committee want fans to stick to the official plan, leaving private car and shuttle companies unhappy they won't benefit from the event. CBS News New York's Christine Sloan reports.
