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.
The park opens for the season on Saturday as the Phantom's Revenge turns 25 years old this year.
It's going to be a busy sports weekend in Pittsburgh and the NFL draft is right around the corner.
Airbnb hosts in Pittsburgh are coming to terms with the possibility of earning less money than they expected.
Three motorcycle club members are charged in thefts targeting Harley-Davidson dealerships in Pennsylvania.
Pittsburgh restaurants are gearing up to feed hungry fans during next week's NFL draft.
The park opens for the season on Saturday as the Phantom's Revenge turns 25 years old this year.
It's going to be a busy sports weekend in Pittsburgh and the NFL draft is right around the corner.
Airbnb hosts in Pittsburgh are coming to terms with the possibility of earning less money than they expected.
Three motorcycle club members are charged in thefts targeting Harley-Davidson dealerships in Pennsylvania.
Pittsburgh restaurants are gearing up to feed hungry fans during next week's NFL draft.
Putting warning labels on social media platforms is the goal of a bill currently moving through Congress.
Wednesday is Pittsburgh Mayor Corey O'Connor's 100th day in office, and by all accounts, he's hit the ground running.
The Trump administration is ratcheting up attacks on environmental protections that Make America Healthy Again followers hold dear.
Pope Leo has been critical of the war in Iran and other priorities of the Trump administration, but says his comments are "not meant as attacks on anyone."
President Trump said the U.S. Navy will begin blockading ships from entering or exiting the Strait of Hormuz and intercept vessels that have paid tolls to Iran.
Music lovers tired of paying hundreds of dollars to see big-name acts may be getting some relief.
Pennsylvania Attorney General Dave Sunday is warning sports fans to watch for scams as they buy tickets and merchandise tied to the NBA and NHL playoffs.
A new consumer safety warning is raising concerns about carbon monoxide detectors sold online.
Six new cities are being added to the Michelin Guide in 2027, and among those cities is right here in Pittsburgh.
Sheetz is expanding further into the Midwest, with plans to open 100 stores in Indiana over the next decade.
Pittsburgh Magazine's Sean Collier is back on PTL and he's letting you know the best weekend events in Pittsburgh!
The Kitchen at Soba is offering up some heat to celebrate the Thai new year, Songkran, and Chef Bill Fuller shows us just how delicious they are!
Joining the show is Liz Aqiuno an etiquette expert and she's giving some tips and tricks on how we can show the rest of the country how hospitable we are during the NFL draft.
Team PTL's Daisy Jade takes us to Lawrenceville and one of the best places to grab a drink with friends this summer - Spirit!
If you're going to be at the Pirates game on May 14, two familiar faces are taking the mound - Heather and David! They talk strategy, and much more on today's PTL Chat!
After suffering roof damage from this year's brutal winter, a Pittsburgh family says their insurance company has left them with even bigger problems.
The Downtown Neighbors Alliance's board voted Thursday to dissolve the organization.
The federal government will begin the long-awaited cleanup of a nuclear waste dump outside Apollo in Armstrong County.
Short-term rental owners in Washington County could soon face new scrutiny.
Allegheny County Common Pleas Judge Edward Borkowski refused to drop an attempted homicide charge against Jasper Hilliard.
Shaler Township has installed new AEDs in 10 of its parks.
Health care workers are preparing to care for anyone who will need treatment.
UPMC and AHN say they've been collaborating about getting ready for an event of this magnitude.
When doctors found out Ainsley Flynn had viral myocarditis, they leaped into action to save her. Now, Flynn is giving back.
UPMC Hillman Cancer Center is exploring everything radiation treatment can treat, and the success has been life-changing for people.
It's going to be a busy sports weekend in Pittsburgh and the NFL draft is right around the corner.
Western Pennsylvania has historically been a hotbed for producing talent that succeeds in the NFL.
The Flyers and Penguins renew the Battle of Pennsylvania in the 2026 Stanley Cup Playoffs. Here's the first-round series schedule.
The Pittsburgh native and ESPN personality and the Pennsylvania governor placed a friendly wager on the Penguins-Flyers series.
There are plenty of events happening around the city for the NFL draft.
Music lovers tired of paying hundreds of dollars to see big-name acts may be getting some relief.
The Pittsburgh Post-Gazette will stay open after it was sold to a nonprofit.
West Virginia resident Rebecca Michalski struggles with soaring electricity bills that exceed her income.
Dave Chappelle has helped secure the future of a small-town radio station by funding the renovation of a historic building in Yellow Springs.
Hundreds gathered Wednesday morning at the Live! Casino in Hempfield Township to open Mangia, a new market and eatery featuring authentic Italian cuisine from local favorite DeLallo.
Music lovers tired of paying hundreds of dollars to see big-name acts may be getting some relief.
The trailer is out for the Pittsburgh-filmed "Hershey" biopic.
The Pitt star Noah Wyle is the newest name on the Hollywood Walk of Fame, and the Pittsburgh-based show is a big reason why.
Dave Chappelle has helped secure the future of a small-town radio station by funding the renovation of a historic building in Yellow Springs.
Artists like Lady A, Nelly, The Avett Brothers and Third Eye Blind will headline a free concert series throughout Pennsylvania.
Get the latest weather forecast from KDKA-TV First Alert Meteorologist Ron Smiley!
It's prime time for the yellow flowers and you'll want to deal with them before they seed.
The park is celebrating milestone anniversaries for two of its iconic rides this year.
KDKA-TV's Rich Walsh and 93.7 The Fan's Chris Mueller discuss today's sports topics.
With a week to go until the NFL draft in Pittsburgh, many had been hoping they can cash in by renting out their homes to visitors.
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.
