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.
Crosby served as captain for Team Canada in 2014 when NHL players last participated in the Olympics.
Rodgers spent last year with the Pittsburgh Steelers for his 21st NFL season.
The shooting happened along Jane Street early Sunday morning.
The 31-year-old Puerto Rican artist Bad Bunny took the stage on Sunday dressed in all white, donning a jersey with his last name, Ocasio, and the number 64.
Stowe Township police arrested a man accused of trying to steal a car while two children were inside it.
Crosby served as captain for Team Canada in 2014 when NHL players last participated in the Olympics.
A list of school closings and delays for the Pittsburgh area on Monday, Feb. 9.
Rodgers spent last year with the Pittsburgh Steelers for his 21st NFL season.
The shooting happened along Jane Street early Sunday morning.
The 31-year-old Puerto Rican artist Bad Bunny took the stage on Sunday dressed in all white, donning a jersey with his last name, Ocasio, and the number 64.
The footage is included in a video that promotes false claims that the 2020 presidential election was rigged against Mr. Trump.
The bipartisan "Bell-to-Bell" bill bars students from using their phones any time they're in school, not just during instructional periods.
It was only a few months ago that Pennsylvania passed the 2025 budget several months late, and now the process begins for this year.
Pennsylvania Gov. Shapiro delivered his fourth budget address at the State Capitol in Harrisburg, three months after last year's budget was passed by state lawmakers.
A federal judge on Monday blocked the Trump administration from revoking Temporary Protected Status for Haitians, granting a last-minute reprieve to 350,000 immigrants who were set to lose protections on Tuesday.
Pennsylvania American Water said that a first round of testing came back negative and an update can be expected late Monday morning.
A woman and her husband are fighting for a $400 refund after they bought furniture from a Value City Furniture store.
It's the end of an era for a grocery store in Carrick.
A Pennsylvania couple says Kia wrongly denied a warranty claim after their car's engine failed at 80,000 miles.
Scams targeting utility customers are on the rise in Pennsylvania, the attorney general says.
Daisy takes us live to learn more about 100.7 Star's Best Pizza in Pittsburgh competition.
We’re hearing from some of you! How did you meet? What is your love story?
Daisy shows us how to see our closet in a different way.
Some local pups will be in the game this year, and we’re meeting one from Animal Friends!
The band has a Pittsburgh connection, and we’re getting a performance live in the studio!
Residents of Millvale are trying to get back to normal after last weekend's major snowstorm.
Tracing the past of Shane Hennen and how his troubled life in Pittsburgh pointed to his future downfall.
People in Avella, Washington County, say they have no phone coverage.
Residents and leaders in Charleroi are concerned about the integrity of roads after a trench collapse last year and ongoing construction.
Patrick Vereb is accused of taking money from pet owners who believed their animals would receive dignified cremations.
Pennsylvania American Water said that a first round of testing came back negative and an update can be expected late Monday morning.
Doctors said the drugs can help people lose unwanted pounds while retaining muscle.
Southwestern Pennsylvania's cold and snowy winter is taking its toll on more than just our roadways and walkways.
The Liberty-Clairton area is under a code orange air quality action day, according to the Pa. Dept. of Environmental Protection.
The cold weather and lingering snow affect more than just the roads and our cars, it affects our brains.
Crosby served as captain for Team Canada in 2014 when NHL players last participated in the Olympics.
Western Pennsylvania has historically been a hotbed for producing talent that succeeds in the NFL.
Rodgers spent last year with the Pittsburgh Steelers for his 21st NFL season.
The 31-year-old Puerto Rican artist Bad Bunny took the stage on Sunday dressed in all white, donning a jersey with his last name, Ocasio, and the number 64.
The Seattle Seahawks defeated the New England Patriots Sunday to win the 2026 Super Bowl.
More than 140 employees at Nemacolin were informed they were being let go.
It's been about six years since the pandemic, and a lot of people working from home, but now companies are slowly calling them back to the office.
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 31-year-old Puerto Rican artist Bad Bunny took the stage on Sunday dressed in all white, donning a jersey with his last name, Ocasio, and the number 64.
Brad Arnold, the founder and lead singer of the 3 Doors Down has died following "his courageous battle with cancer," the rock band announced Saturday on social media.
Bad Bunny took the stage at halftime for the 2026 Super Bowl. Here's who else performed at Super Bowl 60.
Filming for the final season of "Mayor of Kingstown" is expected to take place between March and June.
Many Super Bowl 60 ads are already online, along with teasers for commercials that will be unveiled during the NFL championship on Feb. 8.
Watch as Jason Mackey, Mike DeCourcy, and Andrew Fillipponi join KDKA-TV's Bob Pompeani for another round of sound on this edition of the #1 Cochran Sports Showdown!
KDKA-TV's Bob Pompeani discusses the sports topics of the day.
Stowe Township police arrested a man accused of trying to steal a car while two children were inside it. KDKA-TV's Jessica Riley shares more.
Stay on top of local weather with meteorologist Rob Wilson's forecast!
Flames could be seen shooting out of multiple homes in North Belle Vernon on Sunday.
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.
