GDP report expected today
Depending on what the report says, we could be officially in a recession. CBS2's Zinnia Maldonado has more.
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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.
Americans are feeling the squeeze, struggling with the cost of everything from gas to groceries as U.S. inflation hits an all-time high. CBS2's Andrea Grymes spoke with frustrated consumers.
Stocks plunged Friday as U.S. inflation hit a new high. The Labor Department reports prices surged 8.6% and wages are not keeping up. CBS2's Andrea Grymes spoke with New Yorkers who say every little bit helps during this sticker shock.
The Labor Department reports prices may surge 8.6%.
As gas prices reach record highs, New York drivers are finally getting some relief at the pump. CBS2's Elijah Westbrook reports on the gas tax holiday.
The New York Knicks routed the Chicago Bulls 136-96 on Friday night in a game they led by 47 points.
The surging Hawks routed the Nets 141-107 on Friday night for their fourth straight victory and 18th in 20 games.
The Flyers beat the Islanders 3-1 on Friday night to move within one point of the Islanders for third place in the Metropolitan Division.
Easter weekend kicks off with May-like weather in the New York area before rain returns for the holiday.
With just over one square mile of land, the City of Hoboken says the 2026 FIFA World Cup could be a once-in-a-generation opportunity for homeowners.
Easter weekend kicks off with May-like weather in the New York area before rain returns for the holiday.
New York City's attempt to reduce class sizes will likely be pushed back for two years, a state senator told CBS News New York.
Stony Brook University professor Timothy Glotch is one of 10 scientists selected to shape research plans for NASA's next Artemis missions.
The struggle for some dementia patients and caregivers just to get through the day can be daunting and stressful, but some programs in New York are helping alleviate stress.
Social media influencers are driving a dangerous trend of people trespassing to explore abandoned buildings, New York State Police say.
Easter weekend kicks off with May-like weather in the New York area before rain returns for the holiday.
UConn's jaw-dropping buzzer beater catapulted them to the Final Four.
Bridgeport firefighter Terrence Cramer was killed after his girlfriend's ex shot him in a fit of rage at a Connecticut home, according to an arrest warrant.
Jabari Bush is accused of fatally shooting active-duty Bridgeport Firefighter Terrence Cramer in Shelton, police said.
Warmer weather will return to New York City and the surrounding area soon.
Easter weekend kicks off with May-like weather in the New York area before rain returns for the holiday.
With just over one square mile of land, the City of Hoboken says the 2026 FIFA World Cup could be a once-in-a-generation opportunity for homeowners.
New Jersey Gov. Mikie Sherrill and her family are moving into Drumthwacket, the governor's official residence in Princeton.
A pastor in New Jersey was taken into custody by immigration agents while working at his day job, according to church members.
The discovery of a suspicious device forced the cancellation of the Keansburg, New Jersey, St. Patrick's Day Parade last weekend.
Stony Brook University professor Timothy Glotch is one of 10 scientists selected to shape research plans for NASA's next Artemis missions.
A Long Island man accused of shooting his sister in the head with a crossbow pleaded not guilty to attempted murder Thursday.
A Long Island high schooler and his mom are being credited with saving a sleeping neighbor from a house fire.
New York Republican gubernatorial nominee Bruce Blakeman said Tuesday he will sue the state after the Campaign Finance Board denied him matching funds.
The driver accused of striking and killing a Nassau County school crossing guard in February has been arraigned.
New Jersey Gov. Mikie Sherrill and her family are moving into Drumthwacket, the governor's official residence in Princeton.
The search for the second crew member, a weapons system officer, is continuing, two U.S. officials said.
One of the sources said Hegseth wants someone in the role who will implement President Trump and Hegseth's vision for the Army.
A pastor in New Jersey was taken into custody by immigration agents while working at his day job, according to church members.
President Trump has ousted Pam Bondi as attorney general, saying she will be taking a job in the private sector.
What started as a sinus infection left a Long Island teenager fighting for his life, requiring emergency brain surgery.
Older adults in New Jersey recorded the highest number of suspected overdose deaths in 2025, according to the New Jersey Department of Health.
The first case of mpox clade I has been detected in New York City, health officials said Friday. Of the two types of mpox, clade I is known to cause more severe disease and death.
Heights University Hospital, formerly known as Christ Hospital, shuttered its emergency room Saturday night.
New Jersey Sen. Andy Kim is opening up about his father's Alzheimer's diagnosis in hopes of helping others struggling like him to care for their loved ones.
A federal judge in New York has tossed out actor Blake Lively's sexual harassment claims against actor Justin Baldoni over their roles in the movie "It Ends With Us," but left intact a claim for retaliation.
Atlanta rapper Gucci Mane was lured to a Dallas studio for a meeting, then allegedly kidnapped and robbed by a group including rappers Pooh Shiesty and Big30.
Megan Thee Stallion was released from a New York City hospital after she got sick during a performance of "Moulin Rouge! The Musical."
The price hike raises the cost of the standard plan with ads by $1 per month and the cost of the standard and premium plans by $2.
Savannah Guthrie stepped back from her NBC duties almost two months ago when her mother, Nancy Guthrie, disappeared. The investigation is ongoing.
The New York Knicks routed the Chicago Bulls 136-96 on Friday night in a game they led by 47 points.
The surging Hawks routed the Nets 141-107 on Friday night for their fourth straight victory and 18th in 20 games.
The Flyers beat the Islanders 3-1 on Friday night to move within one point of the Islanders for third place in the Metropolitan Division.
The Yankees beat the Marlins 8-2 in their home opener Friday for their second 6-1 start in three seasons.
San Francisco rookie catcher Daniel Susac went 3 for 3 with a walk in his first four big league at-bats and the Giants rolled over the New York Mets 7-2.
Preparations for Passover in Brooklyn blend centuries-old rituals with modern traditions unique to each family.
New York has filed a lawsuit against solar company Attyx, saying it didn't just sell panels, it sold promises it couldn't keep.
Long before Manhattan's iconic street grid took shape, an English widow planned a Brooklyn community that helped shape the city today.
The Center for Brooklyn History showcase examines the Battle of Brooklyn through rare maps, paintings, and historical artifacts from the American Revolutionary War.
From World War II to modern mixology, women in Brooklyn fought for their place behind the bar. This Women's History Month, their legacy continues to influence the city's nightlife.
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.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Dogs got decked out for the annual Tompkins Square Halloween Dog Parade in New York City's East Village on Saturday.
Cosplayers flooded New York City's Javits Center in October 2024 for the annual New York Comic Con convention.
CBS News New York's Lonnie Quinn has your First Alert Forecast for April 3 at 11 p.m.
A search-and-rescue operation is underway in the Middle East for an American aviator who is missing after Iran shot down a fighter jet Friday. CBS News New York's Allen Devlin reports.
The suspected gunman in the stray bullet shooting of a 7-month-old baby in Brooklyn was arraigned Friday as a second suspect was taken into custody in Pennsylvania. CBS News New York's Andrew Ramos reports.
A second person of interest was taken into custody Friday in connection to the fatal shooting of a 7-month-old baby in Brooklyn. CBS News New York's Andrew Ramos reports.
A police officer in upstate New York helped out a skunk with a cup on its head Friday morning.
