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.
Max Muncy hit a two-run homer in the seventh inning on Gerrit Cole's 103rd and final pitch, lifting the Dodgers over the Yankees 2-1 on Friday night.
A toddler fell from a window at a Bronx apartment building Friday evening.
Spanish Prime Minister Pedro Sánchez plans to attend Sunday's World Cup final against Argentina, his office says.
New age requirements, licensing rules and penalties for violations for e-bikes and electric scooters take effect in New Jersey on Sunday.
One death has been reported in connection to the Legionnaires' disease cluster on New York City's Upper East Side, health officials say.
A toddler fell from a window at a Bronx apartment building Friday evening.
One death has been reported in connection to the Legionnaires' disease cluster on New York City's Upper East Side, health officials say.
Friday marked 30 years since TWA Flight 800 exploded in midair off of Long Island minutes after taking off from JFK Airport en route to Paris.
An 79-year-old woman died Friday after she was struck by a driver in Brooklyn.
Attorneys for Donike Gocaj's family alleged Con Edison workers failed to properly secure the manhole cover before she plunged to her death.
While the air quality is improving, haze still lingers as New Yorkers brace for upcoming rain and possibly severe storms Saturday.
A tornado warning was issued in parts of New Jersey on Thursday evening.
A heat advisory is in effect until Wednesday night for most of the Tri-State Area, with feels-like temperatures reaching into the 100s.
The Tri-State Area is dealing with extreme heat as cooling centers, pools, parks and other resources try to keep residents cool.
A heat advisory is in effect until Wednesday night for the Tri-State Area, with feels-like temperatures reaching into the 100s.
Spanish Prime Minister Pedro Sánchez plans to attend Sunday's World Cup final against Argentina, his office says.
New age requirements, licensing rules and penalties for violations for e-bikes and electric scooters take effect in New Jersey on Sunday.
For the first time, a federal appeals court ruled the Garden State's weapons ban violates the Second Amendment.
Farmers in New Jersey say the cyclosporiasis outbreaks across the country are providing an opportunity to get to know your local farmer.
While the air quality is improving, haze still lingers as New Yorkers brace for upcoming rain and possibly severe storms Saturday.
A memorial service was held on Long Island on Friday night for victims of TWA Flight 800, marking 30 years since the deadly crash. CBS News New York's Allen Devlin reports.
A large gun and drug bust in Nassau County led to six arrests.
Friday marks 30 years since TWA Flight 800 exploded in midair off of Long Island minutes after taking off from JFK Airport en route to Paris. CBS News New York's Carolyn Gusoff reports.
Friday marked 30 years since TWA Flight 800 exploded in midair off of Long Island minutes after taking off from JFK Airport en route to Paris.
A former cargo ship captain pleaded guilty on Wednesday to drugging and raping a U.S. Merchant Marine Academy cadet.
President Trump gave a primetime address on elections tonight, as he remains focused on the 2020 race.
The "Rental Ripoff" report was released Thursday morning, stemming from months of hearings where hundreds of tenants across the city stepped forward to air their grievances.
New York City officials confirmed Wednesday that outreach teams were midway through efforts to help the homeless at a sprawling West Side encampment before dismantling their living spaces.
Part of President Trump's speech Thursday night is expected to touch on previously unreported alleged Chinese meddling in U.S. elections, according to sources familiar with the matter.
The future of the New York City horse carriage industry was debated Wednesday at a City Council public hearing.
One death has been reported in connection to the Legionnaires' disease cluster on New York City's Upper East Side, health officials say.
Farmers in New Jersey say the cyclosporiasis outbreaks across the country are providing an opportunity to get to know your local farmer.
Taylor Farms said none of its branded salads or kits contain the iceberg lettuce associated with the outbreak.
A lettuce supplier to fast-food giant Taco Bell has been linked to a nationwide cyclosporiasis outbreak that has sickened thousands of people, the CDC said.
A Queens man says he had trouble eating and drinking while suffering from cyclosporiasis.
Brenda Fricker won an Academy Award for 1989's "My Left Foot," played the Pigeon Lady in "Home Alone 2" and appeared in "A Time to Kill" and "So I Married an Axe Murderer."
New Zealand actor Sam Neill, known for "Jurassic Park" and "The Piano," died Monday at 78, his family says.
The final show of Jay-Z's anniversary concert series at Yankee Stadium was delayed for hours after hundreds of ticketless fans flooded the gates and breached security, according to officials.
Jay-Z and some very special guests took over Yankee Stadium on Friday night, performing to a sold-out crowd.
Bonnie Tyler, the Welsh pop star best known for singing the chart-topping power ballad "Total Eclipse of the Heart" in 1983, has died. She was 75.
Max Muncy hit a two-run homer in the seventh inning on Gerrit Cole's 103rd and final pitch, lifting the Dodgers over the Yankees 2-1 on Friday night.
Spanish Prime Minister Pedro Sánchez plans to attend Sunday's World Cup final against Argentina, his office says.
Francisco Alvarez homered twice, Brett Baty also went deep and the New York Mets defeated the Philadelphia Phillies 4-1 in the first major league game following the All-Star break.
Etihad Park, the new home of NYCFC and Gotham FC, will open in summer 2027, the CEO of the Major League Soccer club announced.
Air quality concerns in Philadelphia have led the Phillies to move up the start time of their series opener with the Mets by an hour.
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.
The FIFA World Cup is delivering a business boost for many bars and restaurants across New York City, but not every industry is seeing the same payoff.
Two Upper West Side children went on a mission to visit 40 playgrounds in one day, hoping to set a record.
Eddie Palmieri, the East Harlem legend who revolutionized Latin music, now has a street renamed in his honor.
Services for the UnderServed's urban gardens and beehives provide therapeutic opportunities for New Yorkers with intellectual and developmental disabilities and behavioral health challenges
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 Scott Padgett has your First Alert Forecast for July 17 at 11 p.m.
A memorial service was held on Long Island on Friday night for victims of TWA Flight 800, marking 30 years since the deadly crash. CBS News New York's Allen Devlin reports.
A beloved community member is being mourned in East Flatbush, Brooklyn. Police say an out-of-control car jumped the curb and hit and killed a 79-year-old pedestrian. CBS News New York's Andrew Ramos reports.
Spain and Argentina are getting ready to compete for the biggest prize in soccer, and all the action will play out at MetLife Stadium. CBS News New York's Jennifer Bisram and Steve Overmyer report.
A toddler fell from a window at a Bronx apartment building Friday evening.
