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.
Storm damage cleanup is continuing across multiple counties in western Pennsylvania.
Pittsburgh police are investigating after an adult male was found dead inside a garage Sunday evening.
Michael Harris II hit a three-run double in the seventh inning, and the Atlanta Braves beat the Pirates 3-2 to complete a three-game sweep.
Pennsylvania American Water has issued a boil water advisory for customers in Clairton.
An early morning fire in Sharon put four people in the hospital, and three ultimately died from their injuries.
Storm damage cleanup is continuing across multiple counties in western Pennsylvania.
Pittsburgh police are investigating after an adult male was found dead inside a garage Sunday evening.
Michael Harris II hit a three-run double in the seventh inning, and the Atlanta Braves beat the Pirates 3-2 to complete a three-game sweep.
Pennsylvania American Water has issued a boil water advisory for customers in Clairton.
An early morning fire in Sharon put four people in the hospital, and three ultimately died from their injuries.
A Pennsylvania state lawmaker is proposing giving taxpayers $250 to celebrate America's birthday.
Two men wounded in a shooting during then-presidential candidate Donald Trump's 2024 rally at the Butler Farm Show grounds are suing the United States.
A fractured majority of Republican justices sided with a sweeping challenge brought by local and county officials against Oak Run Solar.
The move by Republican Gov. Mike DeWine comes as tax breaks for energy-hungry AI data centers are increasingly playing a role in state budgets.
Allegheny County Sheriff Kevin Kraus is suing over a ballot referendum that he says would illegally impose term limits on his position.
A Pennsylvania state lawmaker is proposing giving taxpayers $250 to celebrate America's birthday.
Buc-ee's plans to open another store in Ohio, bringing its gas station, convenience store and smiling buck-toothed beaver mascot closer to the Pennsylvania stateline.
A James Beard Award-nominated bar is coming back to Pittsburgh.
What if what's sitting in your jewelry drawer is worth more than you think?
The price of electricity in Pennsylvania is going up next month.
Daisy Jade is getting some facetime with 90s legends, The Spin Doctors, who will be the Friday headliner at the arts festival!
Mikey Hood is checking out the wild side of the arts festival with the Neighborhood Ford Store!
Randy Fenoli of "Say Yes To The Dress" fame, joins Heather and David for a special chat ahead of his appearance at the Rivers Casino.
The Artist Market is a place to discover something unexpected, and now, you just have to find a place to display that something unexpected! Boaz Frankel is giving you a look at many of this year's offerings!
Heather and David are getting a first "hand" look at how the Squonk Joy Machine transforms music into an interactive, musical playground!
Pittsburgh's fire boat has been on the water for nearly a decade, but it hasn't seen much action.
A lawsuit has been filed over the smell neighbors say is coming from the Sherwin-Williams plant in Rochester.
Naida Reed contacted KDKA Investigates after she said Pittsburgh Water failed to follow through on what crews allegedly promised.
What if what's sitting in your jewelry drawer is worth more than you think?
A Bethel Park homeowner says he's out thousands of dollars after hiring a contractor to replace his front porch.
Lone star ticks have been found in Franklin and Erie counties in Pennsylvania.
Pittsburgh, with its natural beauty and parks, can be a great place for people to put the phones down and enjoy life.
Doctors say it looks like it will be a bad season for tick-borne diseases.
Temperatures could reach into the 90s this week in Pittsburgh, and that impacts everything, including your sleep.
Frontline healthcare workers at Butler Memorial Hospital overwhelmingly approved their first union contract on Friday.
Michael Harris II hit a three-run double in the seventh inning, and the Atlanta Braves beat the Pirates 3-2 to complete a three-game sweep.
Western Pennsylvania has historically been a hotbed for producing talent that succeeds in the NFL.
The Atlanta Braves recovered after losing an early three-run lead to beat the Pittsburgh Pirates 6-3 and clinch another series win.
Golden Tempo made Cherie DeVaux the first woman to train a Kentucky Derby winner and the second woman to train a Belmont Stakes winner.
West Virginia hosts Cal Poly in the 2026 NCAA super regionals at noon at Kendrick Family Ballpark.
Buc-ee's plans to open another store in Ohio, bringing its gas station, convenience store and smiling buck-toothed beaver mascot closer to the Pennsylvania stateline.
A James Beard Award-nominated bar is coming back to Pittsburgh.
A fractured majority of Republican justices sided with a sweeping challenge brought by local and county officials against Oak Run Solar.
The move by Republican Gov. Mike DeWine comes as tax breaks for energy-hungry AI data centers are increasingly playing a role in state budgets.
Ohio's tax break for data centers is costing the state far more than expected.
The second of two shows at Acrisure Stadium, originally scheduled for Saturday night, has been canceled, according to Wallen.
Ahead of a packed weekend here in Pittsburgh, many are taking to the three rivers ahead of a big country show.
Now that Arts Landing is open, the Three Rivers Arts Festival will have a permanent home.
The trailer teases a high-stakes Robin Hood-esque bank heist from a star-studded crew.
Joe Negri, known to many as Handyman Negri on "Mr. Rogers' Neighborhood," has died at the age of 99, just days shy of his 100th birthday.
Storm damage cleanup is continuing across multiple counties in western Pennsylvania following severe weekend storms. KDKA-TV's Ricky Sayer shares the latest details.
Thousands of residents across the Pittsburgh area are still without power following severe storms on Saturday. KDKA-TV's Ricky Sayer reports from Washington County with a look at how locals are cleaning up.
Stay on top of local weather with First Alert Meteorologist Trey Fulbright's forecast!
Stay on top of local weather with meteorologist Mary Ours’s forecast!
Saturday's severe weather across the Pittsburgh region created a scary situation for one homeowner. Not only did part of a tree fall onto a home in Fayette County, but the entire home lifted off its foundation, shifting a few feet. KDKA-TV's Ricky Sayer reports.
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.
