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.
Temperatures hover near freezing early Saturday across the Delaware Valley.
Quentin Grimes scored 22 points to lead a productive performance from the 76ers bench in 116-101 victory over Milwaukee.
The iconic Peanut World and three other other businesses along the Atlantic City Boardwalk were damaged in a fire Friday afternoon.
Matt Campbell was hired as Penn State's coach, ending a two-month search by the Nittany Lions to find James Franklin's successor.
Billionaire philanthropist MacKenzie Scott donates $25 million to Lincoln University, marking her second gift to the HBCU.
TWU Local 234, the union representing 5,000 SEPTA workers, said a strike is "imminent" and could happen as early as Friday.
Temperatures hover near freezing early Saturday across the Delaware Valley.
Quentin Grimes scored 22 points to lead a productive performance from the 76ers bench in 116-101 victory over Milwaukee.
City council in Ocean City voted in favor of redeveloping the site of the shuttered Gillian's Wonderland Pier Thursday night.
The iconic Peanut World and three other other businesses along the Atlantic City Boardwalk were damaged in a fire Friday afternoon.
Billionaire philanthropist MacKenzie Scott donates $25 million to Lincoln University, marking her second gift to the HBCU.
A man was stabbed multiple times in the neck on a Market-Frankford Line train in Center City, SEPTA police said.
TWU Local 234, the union representing 5,000 SEPTA workers, said a strike is "imminent" and could happen as early as Friday.
Police said an officer was injured in a hit-and-run, and the driver eventually crashed into a home about a mile away in North Philly.
Everyone is expected to be OK after a crash involving a Smart car and a Philadelphia police patrol vehicle, police said.
The iconic Peanut World and three other other businesses along the Atlantic City Boardwalk were damaged in a fire Friday afternoon.
A judge ruled Menendez, the former U.S. Senator, is no longer eligible for public employment after a bribery conviction.
City council in Ocean City voted in favor of redeveloping the site of the shuttered Gillian's Wonderland Pier Thursday night.
Lumberton Township, New Jersey, Mayor Gina LaPlaca was indicted on child abuse charges Thursday, officials said.
Republican Rep. Brian Fitzpatrick said he was readying a plan that would extend the Affordable Care Act subsidies for two years.
Three police officers credited for preventing a potential attack at the University of Delaware were honored Friday.
Republican Rep. Brian Fitzpatrick said he was readying a plan that would extend the Affordable Care Act subsidies for two years.
Federal prosecutors say a Delaware man, Luqmaan Khan, had plans to attack the University of Delaware police department.
The first winter storm of the season is forecast to bring a mix of snow and rain to the Delaware Valley overnight Monday into Tuesday.
The NEXT Weather team is looking ahead to snow and rain in the forecast for the Philadelphia area this week.
A new report highlights the stories of kids who have survived cancer and the importance of research funding.
A little boy from Delaware County is getting his once-in-a-lifetime wish, just in time for the holidays.
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.
Thanks to Shriners Children's Philadelphia, 11-year-old Desa Kaiser has an adaptive wheelchair that she can use for dancing.
Doctors at Main Line Health now have a new kind of robotic surgery that makes recovery quicker and easier for lung cancer patients.
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.
Amazon's Northeast Philadelphia facility expects to see about 10,000 more packages per day during the holiday peak.
The U.S. Department of Energy says it's loaning $1 billion to help finance the restart of the nuclear power plant on Pennsylvania's Three Mile Island.
Her Place Supper Club, Friday Saturday Sunday and Provenance each received a prestigious Michelin star, the first for any Philadelphia restaurants.
TWU Local 234, the union representing 5,000 SEPTA workers, said a strike is "imminent" and could happen as early as Friday.
A crash involving a tractor-trailer and a van closed I-295 north near the Route 70 exit in Cherry Hill, New Jersey, Wednesday.
Part of I-95 North in Philadelphia will be closed overnight this week for roadwork.
Road and sidewalk closures are coming to Logan Circle in Philadelphia so crews can make improvements.
A new traffic pattern will be in place around the Philadelphia Sports Complex on Black Friday after the Eagles-Bears game.
Quentin Grimes scored 22 points to lead a productive performance from the 76ers bench in 116-101 victory over Milwaukee.
Matt Campbell was hired as Penn State's coach, ending a two-month search by the Nittany Lions to find James Franklin's successor.
The 2026 Men's World Cup will be held across the United States, Canada and Mexico next summer.
Rookie VJ Edgecombe and Tyrese Maxey each made huge plays in the final seconds as the Philadelphia 76ers beat the short-handed Golden State Warriors.
Jalen Carter is considered week to week after undergoing procedures on both shoulders on Monday, a league source confirms.
Netflix on Friday said it will acquire Warner Bros., including its film and television studios, HBO Max and HBO.
Pennsylvania is investing nearly $50 million into the production of season 2 of the HBO Delco crime drama series "Task."
Mechanicsburg native and comedian Shane Gillis will play the largest headline show of his career at the Linc in July 2026.
Donald Glover, who performs under the moniker Childish Gambino, revealed he suffered a stroke last year, which forced him to cancel his tour.
"Task," the Delaware County crime drama series, will return for a second season, HBO announced Thursday.
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.
A CDC panel voted to stop giving newborns the Hepatitis B vaccine, sparking controversy. Stephanie Stahl reports.
Temperatures hover near freezing early Saturday across the Delaware Valley. Grant Gilmore has the forecast.
TWU Local 234, the union representing 5,000 SEPTA workers, said a strike is "imminent" and could happen as early as Friday. Ross DiMattei reports.
A 20-year-old woman has been arrested for allegedly hitting a police cruiser and an officer before fleeing the scene, later crashing into a home in North Philadelphia.
Billionaire philanthropist MacKenzie Scott donates $25 million to Lincoln University, marking her second gift to the HBCU.