Here's what experts say is behind bitcoin's $800 billion drop
Bitcoin has erased all of its 2025 gains and is on track for its worst monthly performance since 2022. Here's what experts say about the decline.
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Bitcoin has erased all of its 2025 gains and is on track for its worst monthly performance since 2022. Here's what experts say about the decline.
The Federal Reserve announced its second interest-rate cut of 2025 Wednesday, lowering its benchmark rate by 0.25 percentage points.
The Federal Reserve is slated to meet to consider another rate cut. It comes even as a near-total blackout of federal economic data continues with the government shutdown. Hear more on how a rate cut could impact your money on our new CBS News Philadelphia In Your Corner podcast.
President Trump has lashed out against Federal Reserve Chair Jerome Powell for weeks.
Federal Reserve Chairman Jerome Powell warned this week that President Trump's tariff plan could cause higher unemployment, inflation and a potential economic slowdown. Jim Donovan has your latest morning headlines with weather from Meteorologist Grant Gilmore.
The Federal Reserve just lowered its benchmark rate by 0.50 percentage points. Here's how the move could impact your finances.
The Federal Reserve is leaving its benchmark interest rate unchanged as investors look for signals that a cut is imminent.
The Fed left its benchmark interest rate unchanged amid persistent inflation. Bankers are predicting three rate cuts later this year.
The Fed is meeting today to decide whether to again raise rates as it battle inflation. Here's what it means for interest rates and mortgages.
Although inflation has slowed sharply, Fed officials are again tapping the brakes to ensure the economy slows.
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
After raising rates from zero to 5% in 15 months, the central bank is pausing to assess the economic impact of monetary tightening.
The Federal Reserve is hitting the pause button on interest rates, thanks in part, to the latest inflation numbers from May. Jessica Kartalija reports. READ MORE: https://cbsloc.al/3qGC22S
President Biden is hoping to stack the Central Bank with its top governors as it continues working to stem inflation.
The regional lender, whose collapse is the second-biggest bank failure in U.S. history, is the third bank to be seized by regulators since March.
The U.S. central bank eases up its efforts to curb inflation amid concerns about banking industry risks.
All deposit accounts at Silicon Valley Bank and Signature Bank in New York will be guaranteed, the Federal Reserve, Treasury Dept. and FDIC said in a joint statement.
Because inflation is easing, Fed is increasing rates at slower pace. But borrowing will still be more expensive.
Rates are at their highest level in 15 years as policymakers try to tamp down inflation without torpedoing the economy.
Latest jump is the fourth supersized rate hike this year, as the central bank tries to subdue stubbornly high inflation.
On today's show, Matt discussed Jill Stein's failed recount effort in PA, Trump's reaffirmed victory in Wisconsin, and whether or not you're obligated to tip around the holidays. At 4pm retired secret service agent Robert Caltabiano joined the show to discuss potential Russian hacking of US political institutions. At 5:30pm author and Forbes contributor Chris Versace checked in to tell us what we can expect from the market before the years end.
Janet Yellen expects interest rates to "gradually increase," but she did not specify a timetable.
Federal Reserve Chair Janet Yellen's speech to the World Affairs Council in Philadelphia on Monday was a last chance to get insights into Fed thinking on its next rate move, before next week's monetary policy meeting.
The Fed's decision to raise rates is in many ways a healthy sign: It's a vote of confidence that the economy, 6½ years after the Great Recession officially ended, can finally withstand higher borrowing costs and keep growing at an acceptable pace.
"The media portrays him as just grabbing publicity, but I think he is taking a serious look at it and looking at all of the pros and cons," Forbes said.
The post-Christmas return rush was underway at shops and malls across the Philadelphia area.
The snow and wintry weather is causing travel disruptions on one of the busiest travel days at PHL.
The South Philadelphia bar was a haven for Chiefs fans in the Philly area for years.
Police say 44-year-old Rahman Rose entered a DMV in Wilmington, Delaware and shot and killed a state trooper.
Smith previously played young Nala in "The Lion King" on Broadway.
Snow and ice are expected around the Philadelphia area Friday night into Saturday morning.
The post-Christmas return rush was underway at shops and malls across the Philadelphia area.
The snow and wintry weather is causing travel disruptions on one of the busiest travel days at PHL.
Police say 44-year-old Rahman Rose entered a DMV in Wilmington, Delaware and shot and killed a state trooper.
The South Philadelphia bar was a haven for Chiefs fans in the Philly area for years.
The post-Christmas return rush was underway at shops and malls across the Philadelphia area.
The snow and wintry weather is causing travel disruptions on one of the busiest travel days at PHL.
Parking and traffic restrictions for the Mummers parade start Friday in Philadelphia.
The group Homies Helping Homies prepped boxes of food and winter clothes for residents of the Point Breeze section of South Philly.
Damage could be seen at the home on South 47th Street near Kingsessing Avenue.
Smith previously played young Nala in "The Lion King" on Broadway.
Here are mall opening and closing hours for the Christmas and Christmas Eve holidays around the Philly region.
The holiday rush was on Sunday night as shoppers scrambled to get their last-minute holiday gifts inside the Cherry Hill Mall.
Philadelphia and South Jersey residents were left shaken after powerful winds sent massive trees onto homes and vehicles Friday.
A man and his baby are safe after a tree fell onto their home in Washington Township, police said.
Police say 44-year-old Rahman Rose entered a DMV in Wilmington, Delaware and shot and killed a state trooper.
Portnoy said he plans to give Delaware State Police Cpl. Matthew "Ty" Snook's family nearly $500,000.
Tributes are pouring in for Delaware State Police Cpl. Matthew "Ty" Snook, who was shot and killed in Wilmington.
Delaware State Police said Cpl. Matthew "Ty" Snook served since 2015.
A Delaware state trooper and the suspect are dead after a shooting at the DMV in Wilmington, Delaware, on Tuesday, officials say.
Thousands of Pennsylvanians are dropping their health insurance as premiums are set to double on Jan. 1, 2026.
Hearing technology helps deaf and hard-of-hearing students perform at the annual holiday show in Overbrook.
A Pennsylvania man visited Penn to thank the surgeon who saved his life during a stroke.
There are encouraging early signs the angel advocate approach is helping people find organ donors.
Children with critical illnesses and their families can visit the Wishing Place in Bala Cynwyd to start their wish journeys.
The post-Christmas return rush was underway at shops and malls across the Philadelphia area.
With product return fraud on the rise, an emerging company is using AI to help spot issues.
Here are mall opening and closing hours for the Christmas and Christmas Eve holidays around the Philly region.
Through Amazon Now, customers can get household items, cosmetics, electronics, groceries and more delivered in about 30 minutes or less.
San Francisco officials said Tuesday that the city has filed a lawsuit against leading manufacturers of ultra-processed foods, accusing them of producing products linked to serious health issues and alleging that the companies knowingly made the foods addictive.
The snow and wintry weather is causing travel disruptions on one of the busiest travel days at PHL.
Parking and traffic restrictions for the Mummers parade start Friday in Philadelphia.
The holiday travel rush is ramping up on the roads and in the skies around the Philadelphia region.
The Pennsylvania Turnpike's eastbound lanes have reopened following a multi-vehicle crash between Bensalem and Willow Grove.
SEPTA's largest workers' union voted to ratify its new contract with the Philadelphia-based transit agency Wednesday night.
The South Philadelphia bar was a haven for Chiefs fans in the Philly area for years.
Travis Konecny scored and added his 300th career assist, leading the Philadelphia Flyers past the Blackhawks 3-1 and handing depleted Chicago its sixth straight loss.
Michael Porter Jr. scored 28 points, as the Brooklyn Nets beat the Philadelphia 76ers 114-106.
Zack Baun, Jalen Carter, Cooper DeJean, Cam Jurgens and Quinyon Mitchell are the five Philadelphia players named to the initial 2026 Pro Bowl roster.
Nikita Grebenkin had a goal and an assist, Carl Grundstrom also scored, and the Philadelphia Flyers beat the Vancouver Canucks 5-2.
Smith previously played young Nala in "The Lion King" on Broadway.
Feeding America's CEO said the organization is "incredibly grateful" for Taylor Swift's large donation.
The singer said an MRI showed a cancerous spot on one of his lungs after he recovered from a lengthy bout of bronchitis.
Albert Brooks said he's still in shock over the death of his friend Rob Reiner, whom he met at 14 years old.
The Oscars ceremony is moving to YouTube starting in 2029, the Academy of Motion Picture Arts and Sciences announced on Wednesday.
Ukee Washington reports.
Natasha Brown reports.
Natasha Brown reports.
Natasha Brown reports.
Ukee Washington reports.
Middle school students in Philadelphia got the opportunity to do hands-on learning during the school district's five-day career and technical camp.
With her Girl Talk mentoring program, one Philadelphia teen turned her camp days into a safe space to discuss social issues young girls face every day.
Recent high school graduate Sylvain Farrell says his temporary position at a local clinic is the pathway to a full-time career.
A Philadelphia student won an award from NFL Films for his documentary on bringing back sports teams at his Kensington school.
A group of East Norriton eighth graders took what started as an Earth Day project and made a whole initiative.
One day after Christmas, shops and malls in the Philadelphia area were crowded again, including with people making returns and exchanges.
Philadelphia police are searching for the driver who hit and killed beloved DJ June Rodriguez last weekend. The crash happened on Lancaster Avenue in Overbrook, one of the most dangerous stretches of road in the city, Liz Crawford reports.
Big Charlie's Saloon, a home away from home for Kansas City Chiefs fans in South Philadelphia, has closed following the death of owner Paul Staico.
With a winter storm headed toward the region, travelers faced post-holiday crowds and flight disruptions Friday at Philadelphia International Airport.
Delaware State Poiice say 44-year-old Rahman Rose shot and kiilled Cpl. Matthew "Ty" Snook in a DMV office on Hessler Boulevard in Wilmington on Dec. 23.