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.
This weekend's winter storm could bring the most snow western Pennsylvania has seen in a long time.
The winter storm barrelling toward Pittsburgh is forecasted to drop at least 8 inches on most areas over 36 hours.
A 12-year-old from the South Hills is using her sewing skills to help comfort young people.
Pittsburgh has had many firsts over the years and one of them involves being the launching point for Lewis and Clark and their Corps of Discovery back in 1803.
Power companies are not expecting widespread outages across the Pittsburgh area, but said they'll be prepared just in case.
A winter storm is heading for Pittsburgh, and while it's currently expected to dump a widespread 6 to 12 inches, those totals are likely to increase.
Along with expecting several inches of snow, Pittsburgh will also have cold temperatures.
The National Weather Service said that parts of the Pittsburgh area could see as much 14 inches of snow accumulation.
This weekend's winter storm could bring the most snow western Pennsylvania has seen in a long time.
Pennsylvania Gov. Josh Shapiro said President Trump called him after the April 2025 arson attack at his home in Harrisburg. He recalled the "strange conversation" he had with Mr. Trump to CBS News senior correspondent Norah O'Donnell for "CBS Sunday Morning."
The conversation surrounding rising utility costs and data centers continued in Harrisburg this week.
Andrew Johnson is the latest in a series of pardoned Jan. 6 riot defendants to face new criminal charges.
Looking overseas, there is wide opposition to the idea of taking Greenland by force.
Mr. Trump previously threatened to impose tariffs against countries that do not support his plans to acquire the territory.
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.
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.
Daisy Jade is back and she's getting an even deeper look at the World of Wheels!
A local travel vlogger, Elizabeth Palumbi, shows us how to score roundtrip tickets to Europe for under $500!
Shari Zatman is back and this time, she's testing Heather and David's party planning chops!
Party planner, Shari Zatman, is showing us how to be both boujee and budget-friendly!
Team PTL's Daisy Jade is live and channeling her inner Daisy Duke at the 65th annual World of Wheels!
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.
Controversy has been swirling in the Woodland Hills School District since November.
A Pennsylvania couple says Kia wrongly denied a warranty claim after their car's engine failed at 80,000 miles.
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.
PiratesFest will end an hour earlier than scheduled, and several players will not be in attendance.
Western Pennsylvania has historically been a hotbed for producing talent that succeeds in the NFL.
Anthony Mantha scored twice, Sidney Crosby made it three in an early 37-second span and the Pittsburgh Penguins beat the Edmonton Oilers 6-2 on Thursday night.
Andy Weidl has been the assistant general manager of the Pittsburgh Steelers since 2022.
The Baltimore Ravens have hired defensive-minded Jesse Minter as their new head coach, the team announced on Thursday.
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 country music superstar will headline an invite-only concert at the Rivers Casino the night before the NFL Draft in Pittsburgh.
The nominees for the 98th annual Academy Awards were announced Thursday morning, and though "One Battle After Another," "Marty Supreme," "Frankenstein" and "Hamnet" were all nominated for plenty, it was "Sinners" that broke through with a record-smashing 16 nominations.
The 2026 Songwriters Hall of Fame inductees were revealed on "CBS Mornings" on Wednesday. See the full list.
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.
A 12-year-old from the South Hills is using her sewing skills to help comfort young people.
This weekend's winter storm could bring the most snow western Pennsylvania has seen in a long time. It poses the question: will it be another "Snowmageddon?"
Pittsburghers are stocking up on alcohol before the winter storm. Chris DeRose has more.
Pittsburgh has had many firsts over the years and one of them involves being the launching point for Lewis and Clark and their Corps of Discovery back in 1803.
If you haven't broken out your snowblower in a while, you're going to want to listen to Ross Guidotti.
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.
