Parliamentarian alters drug plan in Inflation Reduction Act before Senate vote
The Senate's nonpartisan rules arbiter has dealt a blow to Democrats' plan for curbing drug prices.
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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.
Prices are skyrocketing for everything from food to fuel, and inflation is surging at the fastest pace in more than 40 years. While just about everyone is feeling the squeeze, as CBS2's Dick Brennan reports, it can be especially tough for people on fixed incomes.
The Philadelphia Phillies beat the reeling New York Mets 2-1 on Friday night.
Rainy weather will kick off the weekend in the New York City area before sunshine returns.
Payton Tolle took a perfect game into the sixth inning and the Boston Red Sox beat the New York Yankees 6-1 on Friday night.
Traffic will be impacted in Midtown Manhattan as the city initiates shuttle bus corridors and street closures to accommodate World Cup ticketholders.
The suspect accused of killing two teenage girls in a hit-and-run in Cranford, New Jersey, last year will be tried as an adult, officials said Friday.
Rainy weather will kick off the weekend in the New York City area before sunshine returns.
Traffic will be impacted in Midtown Manhattan as the city initiates shuttle bus corridors and street closures to accommodate World Cup ticketholders.
Many New Yorkers are finding ways to help those in Venezuela following this week's powerful back-to-back earthquakes.
New York Mets fans seem to be directing frustration at David Stearns and Steve Cohen after manager Carlos Mendoza's firing.
The site will continue to house a casino, but Aqueduct's move to Long Island brings a rare opportunity to the South Ozone Park community.
Rainy weather will kick off the weekend in the New York City area before sunshine returns.
Monday's severe weather has come and gone, but that doesn't mean the system is leaving the area.
After a tranquil, warm weekend, more turbulent weather lies ahead in the New York City area.
Weather is tranquil and pleasant in the New York City area for Father's Day weekend as summer officially begins.
Dangerous heat is building across the Tri-State Area with the threat of severe storms, making Thursday and Friday First Alert Weather Days.
Rainy weather will kick off the weekend in the New York City area before sunshine returns.
Traffic will be impacted in Midtown Manhattan as the city initiates shuttle bus corridors and street closures to accommodate World Cup ticketholders.
The suspect accused of killing two teenage girls in a hit-and-run in Cranford, New Jersey, last year will be tried as an adult, officials said Friday.
Table to Table is on a mission to make sure nothing goes to waste at 2026 FIFA Men's World Cup celebrations in New Jersey.
Law enforcement officials found a home laboratory and a shed full of explosives at a home in Denville, New Jersey.
A Long Island school district official is accused of trashing ballots to rig an election.
A Long Island school district official is accused of trashing ballots to rig an election. CBS News New York's Jennifer McLogan reports.
The site will continue to house a casino, but Aqueduct's move to Long Island brings a rare opportunity to the South Ozone Park community.
A young entrepreneur with Down syndrome opened his first brick-and-mortar store on Long Island after his sock company went global.
A defense attorney made stunning new claims in court Wednesday about what may have sparked the fatal stabbing of a Massapequa man.
A Long Island school district official is accused of trashing ballots to rig an election.
Bolton agreed to pay a $2.25 million fine, pleading guilty to one count of retaining classified national security information.
CBS News New York Investigates is looking into Supplemental Nutrition Assistance Program benefits, and the new work requirements in order to keep them.
Victims of e-bike crashes are suing New York City over Mayor Zohran Mamdani's directive ending criminal enforcement of violations.
The Supreme Court on Thursday said the Trump administration can move forward with its efforts to strip more than 356,000 Syrian and Haitian immigrants of temporary protections.
A federal judge has temporarily blocked the Justice Department from executing subpoenas in a criminal probe that sought transgender care records for patients treated at New York hospitals.
An off-duty EMT jumped into action at the Knicks parade Thursday when a man appeared to be suffering from an overdose.
New York broadcast giant Bill Ritter announced Friday he is stepping down from the WABC anchor desk after being diagnosed with early stage Alzheimer's.
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.
Fans gathered at the Brooklyn Public Library on Thursday for limited-edition card marking 30 years of "Reasonable Doubt."
There appear to be new clues about the location of Taylor Swift and Travis Kelce's wedding.
Clive Davis helped shape the careers of music stars including Janis Joplin, Bruce Springsteen and Whitney Houston.
When a large tent appeared next door to Taylor Swift's Watch Hill estate this week, it didn't take long for speculation about the superstar's impending nuptials to ripple through the affluent New England seaside village.
Claude Guillemot and a flight instructor were flying in a twin-motor Cessna 421 on Friday evening. An investigation into the crash is underway.
The Philadelphia Phillies beat the reeling New York Mets 2-1 on Friday night.
Payton Tolle took a perfect game into the sixth inning and the Boston Red Sox beat the New York Yankees 6-1 on Friday night.
New York Mets fans seem to be directing frustration at David Stearns and Steve Cohen after manager Carlos Mendoza's firing.
The Second Round Foundation, founded by Sandra and Jalen Brunson, aims to help provide young people with what they need to thrive in the future.
Carlos Mendoza was fired as manager of the underperforming New York Mets on Friday and replaced by Andy Green.
Fans gathered at the Brooklyn Public Library on Thursday for limited-edition card marking 30 years of "Reasonable Doubt."
After learning to swim in her 40s, one school leader is helping students gain life-saving skills.
Entrepreneurs in Brooklyn are reimagining laundry day as a social experience, turning neighborhood laundromats into gathering spaces.
Experts say the team's title run created a feeling of collective joy and connection, while some local businesses are also seeing a boost from the celebration.
Knicks fans who couldn't make it to Thursday's parade still found a way to celebrate across New York in true blue-and-orange fashion.
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.
While the Mets took the field Friday night, their fans were sounding off to the news the team fired manager Carlos Mendoza. CBS News New York's Andrew Ramos reports.
NYPD raids in Chinatown led to 17 arrests and the seizure of $150 million in counterfeit merchandise, police said.
The suspect accused of killing two teenage girls in a hit-and-run in Cranford, New Jersey, last year will be tried as an adult, the Union County Prosecutor's Office said Friday.
CBS News New York's Lonnie Quinn has your First Alert Forecast for June 26 at 11 p.m.
As America prepares to celebrate its 250th anniversary, a New Jersey town gathered to open a time capsule Friday. CBS News New York's Naomi Ruchim reports from Scotch Plains.
