Alan Greenspan, Fed chair under 4 U.S. presidents, dies at age 100
Alan Greenspan's lengthy reign at the Federal Reserve coincided with a period of stability from the mid-1980s until 2007.
Watch CBS News
Alan Greenspan's lengthy reign at the Federal Reserve coincided with a period of stability from the mid-1980s until 2007.
After three rate cuts last year, the Federal Reserve is expected to hold interest rates steady, making a formal announcement at 2 p.m. Wednesday. The rate staying constant means borrowing costs for things like mortgages and credit cards aren't dropping yet, but your savings can earn you more. Josh Sanders has the latest from the Pulse Desk.
The subpoenas threatened a criminal indictment related to Jerome Powell's testimony before the Senate Banking Committee in June 2025, according to the Fed chair.
Federal Reserve Chair Jerome Powell said he's facing a federal criminal investigation. While Powell said the DOJ probe is tied to testimony he gave last summer over a renovations project for Fed buildings, he said a in a video released Sunday that "the threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the president."
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.
A video sent to CBS News Philadelphia shows a waterspout over the Delaware Bay amid a tornado warning in Cape May County.
Families in West Philadelphia are bracing for more rain and wind as they continue cleaning up from recent storms.
There were two confirmed tornadoes in northern New Jersey on Tuesday.
Police in Wilmington are increasing patrols after receiving 28 reports of car break-ins and attempted thefts last weekend.
New Jersey Gov. Mikie Sherrill said a preliminary analysis showed that fewer than 400 of the people registered that way went on to cast ballots.
A video sent to CBS News Philadelphia shows a waterspout over the Delaware Bay amid a tornado warning in Cape May County.
Families in West Philadelphia are bracing for more rain and wind as they continue cleaning up from recent storms.
There were two confirmed tornadoes in northern New Jersey on Tuesday.
Police in Wilmington are increasing patrols after receiving 28 reports of car break-ins and attempted thefts last weekend.
New Jersey Gov. Mikie Sherrill said a preliminary analysis showed that fewer than 400 of the people registered that way went on to cast ballots.
Families in West Philadelphia are bracing for more rain and wind as they continue cleaning up from recent storms.
City Council President Kenyatta Johnson, police and other community members were in Southwest Philly Monday night for a "Peace Not Guns" canvass.
A man was shot multiple times in North Philadelphia Monday afternoon, police said.
Two groups in the Philadelphia area are helping cats and dogs from Texas find forever homes.
PennDOT is advising drivers about an overnight closure on the Schuylkill Expressway westbound in West Philadelphia between 30th Street and the interchange with I-676 East.
There were two confirmed tornadoes in northern New Jersey on Tuesday.
A Florida man was arrested and charged following a 15-hour standoff at a Walmart parking lot in Lumberton, New Jersey.
A 41-year-old woman died in a crash after fleeing a traffic stop with a 5-year-old child inside in Mantua Township Sunday night, officials said.
Two groups in the Philadelphia area are helping cats and dogs from Texas find forever homes.
Two young children were killed during the crash in Barnegat Bay between Berkeley Township and Seaside Heights on Sunday night.
Police in Wilmington are increasing patrols after receiving 28 reports of car break-ins and attempted thefts last weekend.
Health officials in Delaware have confirmed the first cases of measles in the state in more than a decade.
Delaware State Police are investigating a death after a man's body was found in a retention pond near Christiana Hospital in Newark.
Body-worn camera videos from the night Kadir Skinner was shot and killed by police in Wilmington, Delaware, were released by state and local officials Thursday.
Attorneys for the family of Kadir Skinner, the 19-year-old shot and killed by Wilmington police, have released new cellphone video.
Health officials in Delaware have confirmed the first cases of measles in the state in more than a decade.
Taylor Farms said none of its branded salads or kits contain the iceberg lettuce associated with the outbreak.
Pennsylvania is under a statewide Code Purple air quality alert on Friday because of smoke from the wildfires in Canada and Minnesota. But what does that mean?
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.
Pennsylvania will be under a code red air quality alert on Thursday because smoke from wildfires in Canada and Minnesota will create unhealthy levels of pollution for everyone.
While some assume landlords are required to provide air conditioning, the law is not nearly as clear-cut as it is for heat in the winter
New Jersey is set to charge companies whose workers have Medicaid health coverage.
Target is voluntarily recalling two types of baby wipes due to concerns that the products may be contaminated with bacteria that may cause "serious and life-threatening infections," the U.S. Food and Drug Administration said on Friday.
The Pennsylvania Liquor Control Board says it will begin approving the extended-hours permits for Philadelphia businesses within the next week.
Two top-rated and critically acclaimed restaurants in the Philadelphia area are receiving a new honor.
PennDOT is advising drivers about an overnight closure on the Schuylkill Expressway westbound in West Philadelphia between 30th Street and the interchange with I-676 East.
Pennsylvania State Police are investigating two crashes, one of which was fatal, that happened hours apart on I-95 and I-76 in Philadelphia.
An overturned tractor trailer blocked traffic on the southbound lanes of Route 55 after a crash early Monday morning in Gloucester County, New Jersey.
A major rail injection saw service suspensions and delays after a SEPTA Regional Rail train derailed Wednesday in Philadelphia.
Three men died in a plane crash in Maryland Saturday night, police said.
Trea Turner hit two homers, including the 200th of his career, and drove in five runs, Bryce Harper and Brandon Marsh also went deep and the Philadelphia Phillies beat the Los Angeles Dodgers 10-7.
A warmup jacket worn by Wilt Chamberlain during the 1972 NBA finals that was found in an Oregon thrift store could fetch more than $150,000 in an auction closing Monday.
The Phillies will be throwing it back to the late 1930s and early 1940s during next month's Field of Dreams game in Iowa.
The New York Mets won a series in Philadelphia for the first time in nearly four years, beating the Phillies 6-1 on Sunday.
Spain dominated the match, outshooting Argentina 20-3, but couldn't manage a goal in regulation — finally scoring in the second period of extra time.
A warmup jacket worn by Wilt Chamberlain during the 1972 NBA finals that was found in an Oregon thrift store could fetch more than $150,000 in an auction closing Monday.
The actor's agent said he was providing more information following news reports "which contain inaccuracies and outright falsehoods."
Will Ferrell stopped in the Philadelphia area Monday to promote his new Netflix comedy series.
New Zealand actor Sam Neill, known for "Jurassic Park" and "The Piano," died Monday at 78, his family says.
The nominations for the 78th annual Primetime Emmy Awards were announced Wednesday morning in Los Angeles, with the final season of HBO Max's "Hacks" setting a new record for the most nominations in a single year for a comedy series.
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.
Bill Kelly has the latest NEXT Weather forecast for the Philadelphia region after severe storms Tuesday night.
The results of the three-year clinical trial are now being published in the Nature Medicine Journal.
Insomnia Cookies founder Seth Berkowitz founded the business in the house he shared with friends at the University of Pennsylvania. Philadelphia became a key part of the company's recipe for success.
A family in Australia is celebrating the birth of identical quadruplets, the first ever born in the country.
The tornado warning in Cape May County was in effect for nearly an hour as severe storms continued to threaten the Philadelphia region.