Powell says the Fed was served DOJ subpoenas over building renovations
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.
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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.
The Federal Reserve is grappling with economic issues including higher inflation and a slowing labor market.
The Federal Reserve said it is cutting rates by 0.25 percentage points, its second rate cut of the year.
The Federal Reserve announced its second interest rate cut of 2024, but Trump's economic priorities could impact future policy.
Donald Trump's victory in the 2024 presidential election is likely to have a major impact on the economy. Here's what to know.
The Federal Reserve just lowered its benchmark rate by 0.50 percentage points. Here's how the move could impact your finances.
The Fed's decision will lower borrowing costs from a 23-year high as the central bank pivots to shoring up economic growth.
The Fed is leaving its benchmark interest rate unchanged, noting a lack of progress in curbing inflation.
In its last rate decision of 2023, the central bank said it is holding its benchmark rate steady amid cooling inflation.
As Americans collected government aid and saved, new numbers show household wealth surged during the pandemic.
As Americans collected government aid and saved, new numbers show household wealth surged during the pandemic.
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
Central bank officials will announce on Wednesday if they are hiking the federal funds rate for a 10th consecutive time.
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.
House prices just ended a 10-year streak, marking the first monthly year-over-year price drop since 2012.
A new economic report could pressure the Federal Reserve to raise interest rates again.
The U.S. Census Bureau said retail sales surged 3% in January. That surpasses the 1.8% economists had estimated, and it follows a slight decline in December.
While the central bank is slowing its rate increases, Jerome Powell told investors not to expect lower rates this year.
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.
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.
The Federal Reserve boosted interest rates again in a move to slow the inflation rate.
If we are headed for a recession, here's what you need to know to protect your pocketbook.
If we are in fact headed for a recession, what are some things you can do to make sure you "recession-proof" yourself? KDKA's John Shumway has some advice.
Friday kicks off the weekend with some warmer temperatures, but they will not last long.
A nighttime crash during the week of Christmas is now causing major traffic backups every afternoon on Interstate 79.
A U-Haul truck made its way onto the tracks at Station Square early Friday morning.
The crash happened just before 1:30 a.m. on Friday.
Mike Tomlin's assistant coaches aren't expected to be retained by the team unless they are rehired by the new coach.
Friday kicks off the weekend with some warmer temperatures, but they will not last long.
A nighttime crash during the week of Christmas is now causing major traffic backups every afternoon on Interstate 79.
A U-Haul truck made its way onto the tracks at Station Square early Friday morning.
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Five congressional Democrats say they have received inquiries from the DOJ after they appeared in a video urging members of the military not to follow "illegal orders" — a move the lawmakers allege is political intimidation.
The U.S. Supreme Court on Tuesday took on two cases challenging states that bar transgender athletes from participating on sports teams that align with their gender identities. One of them involves a student from West Virginia. Lauren Linder reports.
The Supreme Court heard two cases involving laws from Idaho and West Virginia that ban transgender athletes from participating in girls' and women's sports.
The Supreme Court hears arguments today on whether laws in Idaho and West Virginia banning transgender athletes from competing on girls' and women's sports teams violate the Constitution and Title IX.
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.
Scams targeting utility customers are on the rise in Pennsylvania, the attorney general says.
A handful of Pittsburgh-area Value City Furniture stores are going out of business after their parent company filed for bankruptcy.
It has been five years since the home improvement retailer Menards bought a large parcel of land off Route 30 in Westmoreland County.
If you get a ticket in the city of Pittsburgh, there could be a higher chance that instead of getting it on your car windshield, you're getting it in the mail.
Western Pennsylvania is grappling with a December that has been significantly colder than in years past.
Sean Collier tells us about three things to do in and around Pittsburgh this weekend!
We’re learning about the different options available in Western PA for skiing and snowboarding, with some help from Kidsburgh!
A night out for Restaurant Week may include a stop at The Millhouse Restaurant, located in the Joinery Hotel!
David and Heather learn how to paint .. with the help of some hot air!
Daisy Jade gets a lesson from The Fred Astaire Dance Studio in Cranberry Township!
Some drivers in Pittsburgh are ignoring road closure signs in the South Side Flats, leaving residents exasperated.
A Westmoreland County taxidermist is under investigation by the Pennsylvania State Police.
Stray voltage from a nearby streetlight shocked Montana Mitchell and her dog, leaving the dog immobile.
Twin boys have been seen selling lemonade for long hours several times a week on street corners throughout Pittsburgh and the suburbs.
A woman says she and her dog were shocked while running in Pittsburgh's Strip District.
The yearly tradition marks the start of months of training for Pittsburgh Marathon participants.
Firefighters have a 62% higher risk of cancer, and this week, the New Castle Central Fire Station hosted pre-screenings.
Once the holidays are over, we often find ourselves in a funk, so how can we find ways to boost our mood?
A major expansion in women's health care is taking shape in Washington County.
Flu cases keep increasing, but at least one Pittsburgh-area emergency room doctor says not everyone needs to visit him.
Mike Tomlin's assistant coaches aren't expected to be retained by the team unless they are rehired by the new coach.
Western Pennsylvania has historically been a hotbed for producing talent that succeeds in the NFL.
Sidney Crosby scored one of Pittsburgh's three power-play goals and the Penguins beat the Philadelphia Flyers 6-3.
Former Robert Morris University basketball player Markeese Hastings is accused of taking bribes to throw games.
The Steelers have reportedly requested to interview three different defensive coordinators for their open head coaching position.
Pittsburgh Mayor Corey O'Connor on Tuesday announced a new initiative aimed at revitalizing neighborhood business districts across the city.
A handful of Pittsburgh-area Value City Furniture stores are going out of business after their parent company filed for bankruptcy.
It has been five years since the home improvement retailer Menards bought a large parcel of land off Route 30 in Westmoreland County.
The Macy's location at the Pittsburgh Mills Mall will be among the several closures.
With the Steelers hosting their first playoff game with fans in the building since 2018, a lot of revenue is expected to be made in the city.
Scott Adams, the cartoonist who created the "Dilbert" comic strip, has died at the age of 68, his first ex-wife revealed on Tuesday.
"The Pitt" won big at the Golden Globes on Sunday night.
The 2026 Golden Globes honored the standouts in both film and television from last year. See the full list of winners and nominees.
Here is everything you need to know about how to watch and stream the 2026 Golden Globes.
Bob Weir wrote or co-wrote and sang lead vocals on Grateful Dead classics including "Sugar Magnolia," "One More Saturday Night" and "Mexicali Blues."
Get the latest weather updates with meteorologist Ron Smiley’s forecast!
A truck slammed into the Interstate 79 bridge over Thoms Run Road last month.
No patient services are expected to be impacted, according to a UPMC spokesperson.
Pittsburgh Regional Transit said all rail traffic is being detoured through Allentown.
KDKA-TV's Rich Walsh and 93.7 The Fan's Chris Mueller discuss the sports topics of the day.
Mike Tomlin stepped down as head coach of the Pittsburgh Steelers after 19 seasons with the team.
Pitt's regular season has ended with an 8-4 record.
Pitt's five-game winning streak came to an end with a 37-15 loss to Notre Dame.
Mason Heintschel set a new Pitt freshman single-game passing record in the Pitt win at Acrisure Stadium.
The 44th annual KDKA-TV Turkey Fund will help our neighbors in need have a nice meal for Thanksgiving.
