Senate debates Inflation Reduction Act in marathon session
Senators debated amendments to the economic bill, which contains many of President Biden's climate, energy, health and tax goals.
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Senators debated amendments to the economic bill, which contains many of President Biden's climate, energy, health and tax goals.
The Senate's nonpartisan rules arbiter has dealt a blow to Democrats' plan for curbing drug prices.
Sen. Kyrsten Sinema, a centrist who was seen as the pivotal vote, said in a statement that she had agreed to changes in the measure's tax and energy provisions.
The Labor Department said practically all jobs lost during the pandemic have been restored.
The economy shrank again in the second quarter, fueling debate about whether or not the country is in a recession. CBS News reports.
Depending on what the report says, we could be officially in a recession. CBS2's Zinnia Maldonado has more.
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.
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.
Prices for just about everything are at a 40-year high, and as CBS2's Dave Carlin reports, even the least expensive items at bodegas and shops around New York City are getting hit.
Inflation continues to squeeze consumers, so Wednesday, the Federal Reserve raised interest rates 0.75 percent, meaning it will cost more to borrow money. The economic trouble is leaving families more worried about their bottom lines. CBS2's Dick Brennan has more on the reason why we keep seeing rate hikes.
The move is meant to curb historically high inflation.
As CBS2's John Dias reports, there are a number of factors contributing to this key week for the state of the economy.
The nationwide average for a gallon of regular plunged to $4.36.
The newest figures are raising some serious concerns about our economy.
Inflation is hitting nearly every part of the economy and there is no quick end in sight, but as CBS2's Dick Brennan reports, many consumers continue to spend as the job market remains strong.
Many owners say they are making drastic changes to how they operate or closing down for good.
Inflation has flown past 9 percent, and we're all feeling the squeeze. Some restaurant owners told CBS2's Jenna DeAngelis they are either making changes or shutting down.
Prices continue to climb for everything from gas, to food and rent. CBS2's Lisa Rozner reports.
This comes as Americans see consumer prices skyrocket on everything from groceries to gas. CBS2's Elijah Westbrook reports.
Move comes in an effort to put the breaks on rising costs, but it means loans and credit cards will cost more.
CBS2's Nick Caloway has more on what this could mean for your wallet and investments.
"Inflation is much too high," Fed Chair Jay Powell said of the U.S. central bank's largest rate hike since 1994.
The Federal Reserve announced an aggressive interest rate hike. The move comes as a way to combat inflation. CBS2's Aundrea Cline-Thomas has a look at what this means for your wallet.
Many Americans are worrying about their retirement funds as stocks dropped drastically yesterday. CBS2's Elijah Westbrook has more on what this means.
Prices on just about everything are rising at a pace not seen in decades. While many people are feeling the squeeze, CBS2's Dick Brennan has more on how it can be especially tough for people on fixed incomes.
Residents of a Newark apartment complex got a startling wakeup call Sunday morning when police in tactical gear, responding to reports of multiple people shot, stormed their building.
An investigation is underway in the Bronx after a child fell out of a five-story window and onto the sidewalk on Sunday afternoon.
Monday will be a First Alert Weather Day due to the possibility of afternoon and evening thunderstorms and high heat indices near 100 degrees.
The New York Mets routed the Pittsburgh Pirates 11-1 on Sunday afternoon.
Michael Harris II opened the 10th inning with an RBI single, and the Braves beat the Yankees 2-1 on Sunday to prevent a three-game sweep.
An investigation is underway in the Bronx after a child fell out of a five-story window and onto the sidewalk on Sunday afternoon.
Monday will be a First Alert Weather Day due to the possibility of afternoon and evening thunderstorms and high heat indices near 100 degrees.
A retired New York City police chief died Friday after drowning in a backyard pool on Long Island, police say.
The National Dominican Day Parade returned to New York City on Sunday.
Thomas Ryan, the man suspected in a murder in Orange County, New York was taken into custody after a massive search that lasted several days.
Monday will be a First Alert Weather Day due to the possibility of afternoon and evening thunderstorms and high heat indices near 100 degrees.
The New York area will get some brief relief Sunday from the humid weather.
Friday evening brought yet another round of prolific thunderstorms to the Tri-State Area.
A 16-year-old boy was killed after he was hit Wednesday night by a Metro-North train going from Danbury to South Norwalk, police said.
Most of the Tri-State Area is under a heat advisory Thursday and Friday, with downpours bringing the risk of flash flooding.
Residents of a Newark apartment complex got a startling wakeup call Sunday morning when police in tactical gear, responding to reports of multiple people shot, stormed their building.
Monday will be a First Alert Weather Day due to the possibility of afternoon and evening thunderstorms and high heat indices near 100 degrees.
The New York area will get some brief relief Sunday from the humid weather.
A camper and two lifeguards went to a Newark pool expecting a normal summer day. A child's life depended on all three.
Friday evening brought yet another round of prolific thunderstorms to the Tri-State Area.
Monday will be a First Alert Weather Day due to the possibility of afternoon and evening thunderstorms and high heat indices near 100 degrees.
The NYPD is mourning the death of a former chief.
A retired New York City police chief died Friday after drowning in a backyard pool on Long Island, police say.
New York State Police are urging people across the region to report any sightings of 32-year-old Thomas Ryan, who is wanted in connection with the death of his father. CBS News New York's Tony Aiello reports.
Dozens of teenagers on Long Island are spending the summer helping their senior neighbors, and they're getting paid for it. CBS News New York's Carolyn Gusoff reports.
In a wide-ranging interview with the CBS News partner BBC News, Hunter Biden grew emotional as he discussed his father's condition, describing it as very sad to watch.
In a narrow 50-49 vote, President Trump's former defense lawyer was confirmed as attorney general in a vote early Saturday.
The measure was approved in a 90 to 6 vote and now goes to the House.
A group of New York City homeowners is suing to delay the implementation of the new pied-à-terre tax, saying Mayor Zohran Mamdani bungled the rollout.
The Pentagon on Friday released a new batch of documents and images related to UFOs, the fifth disclosure in recent months about the strange encounters.
In a wide-ranging interview with the CBS News partner BBC News, Hunter Biden grew emotional as he discussed his father's condition, describing it as very sad to watch.
The New York Hotel and Gaming Trades Council claims The High Line Hotel tested positive for Legionella bacteria twice this summer.
Several lawsuits were announced Thursday against New York City and others connected to a deadly 2025 Legionnaires' outbreak in Harlem.
Gov. Kathy Hochul signed new legislation Wednesday to strengthen inspections on cooling towers in New York City.
The source of exposure for the Legionnaires cluster on Manhattan's Upper East Side has been eliminated, according to the New York City Health Department.
Actor and comedian Bowen Yang will portray Mary Todd Lincoln in Broadway's "Oh, Mary!" for a limited 12-week run starting in September.
Designer John Galliano is known for his theatrical and dramatic designs, but his legacy is also marked by antisemitic and racist comments.
"The Sopranos" actor Vincent Pastore is being remembered as a fixture in his Bronx community.
Vincent Pastore played Salvatore "Big Pussy" Bonpensiero on all six seasons of "The Sopranos," which aired from 1999 to 2007.
A new Broadway show based on Prince's movie and album "Purple Rain" will take the stage at Broadway's Majestic Theatre in March.
The New York Mets routed the Pittsburgh Pirates 11-1 on Sunday afternoon.
Michael Harris II opened the 10th inning with an RBI single, and the Braves beat the Yankees 2-1 on Sunday to prevent a three-game sweep.
The Pittsburgh Pirates beat the New York Mets 9-0 on Saturday night to end a four-game skid.
Mariano Rivera was back on the field at the Yankees' annual Old-Timers' Day on Saturday.
The New York Yankees beat the Atlanta Braves 5-4 Saturday.
Some residents of a Queens building say a temporary boiler truck parked outside has become a nearly two-year fixture, emitting smoke they say drifts into their homes.
Harlem Week 2026 brings past and present Harlemites together to honor the neighborhood's legacy.
Parents in Harlem say their children's walk to summer camp is littered with trash, illegal dumping and a growing encampment.
A specialized program from God's Love We Deliver is serving nearly 400 veterans with medically tailored meals, while helping combat isolation and ease the challenges of life after military service.
The Newtown Creek Alliance community science project gives students hands-on experience monitoring the health of one of the most polluted waterways in the U.S.
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's Craig Allen is calling for daytime highs in the low 90s, with the potential for strong storms in parts of the Tri-State Area later in the day.
Officers responded to the scene on Bergen Street on Sunday after getting reports of multiple people shot. CBS News New York's Andrew Ramos reports.
Neighbors described hearing the 5-year-old boy strike the sidewalk on Sunday. CBS News New York's Naveen Dhaliwal has the story.
Police sources tell CBS News New York's Lisa Rozner the captain of the boat is in federal custody, after being arrested on 13 counts of reckless endangerment.
Because of the [potential for severe weather on Monday into Tuesday, a First Alert Weather Day has been issued. Craig Allen has your latest forecast.
