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.
A flood watch is in place for several western Pennsylvania counties until Friday afternoon as rain and higher temperatures could lead to ice jam flooding.
A bald eagle rescued in York County, Pennsylvania, died of lead poisoning, prompting a wildlife center to issue a plea for hunters.
Baldwin-Whitehall will be playing as an independent while Aliquippa will move down to 3A this upcoming season.
The FBI has been in touch with the Mexican government and Mexican law enforcement regarding the disappearance of Nancy Guthrie, law enforcement sources told CBS News.
The two men crashed into multiple police cars and attempted to flee, according to the East Palestine Police Department.
A flood watch is in place for several western Pennsylvania counties until Friday afternoon as rain and higher temperatures could lead to ice jam flooding.
A bald eagle rescued in York County, Pennsylvania, died of lead poisoning, prompting a wildlife center to issue a plea for hunters.
Baldwin-Whitehall will be playing as an independent while Aliquippa will move down to 3A this upcoming season.
The annual KDKA Fish Fry Guide is back for Lent! Check our listings for a 2026 fish fry near you in Pittsburgh.
The FBI has been in touch with the Mexican government and Mexican law enforcement regarding the disappearance of Nancy Guthrie, law enforcement sources told CBS News.
"The Late Show" host Stephen Colbert criticized CBS on Monday night, saying the network blocked his interview with U.S. Senate hopeful James Talarico from airing.
The Rev. Jesse Jackson marched alongside Martin Luther King Jr., ran for president in the 1980s and led the Rainbow/PUSH Coalition in Chicago for decades.
Last week, the Pentagon said it may block military members from using tuition aid at many top universities across the country, including Carnegie Mellon University in Pittsburgh. Chris Hoffman reports.
After setting social media abuzz by saying aliens were real, former President Barack Obama said he didn't see evidence that aliens "have made contact with us."
President Trump met with Israeli Prime Minister Benjamin Netanyahu in December at Mar-a-Lago with Mr. Trump saying the U.S. would support strikes if no deal was made with Iran.
With the deep fryers warming up for the start of Lenten fish fries on Wednesday, you've likely noticed the price you're paying has gone up over the last few years.
When debt collection companies start calling, most people don't know what to do.
Move over, Wawa, "there's a new player in town." Customers shed light on Pennsylvania's heated rivalry as Sheetz opened its first store in Montgomery County.
The rush for roses is on with Valentine's Day this weekend, and making sure you're getting the best deal is crucial.
More than 30 states have already enacted similar legislation.
If you see a giant wiener on wheels driving through Pittsburgh, don't be shocked, it's just the Oscar Meyer Wienermobile! Mikey Hood and Team PTL had a "frank" conversation with the driver!
It's the time of year when the green milkshakes, better known as the Shamrock Shake, return to McDonald's! PTL got a preview of the classic drink and learned that this year, all purchases are going toward a good cause!
As part of Black History Month, we highlight the story of how Anthony Cayce went from a crew member at the McDonald's in East Liberty to the owner and operator. He took time out of his day to talk to PTL's Daisy Jade.
The Pittsburgh St. Patrick's Day Parade is legendary, but before you start drinking your green beers, you can get a workout in! Troy Schooley and Michael Costello from P3R join PTL to talk about the Pittsburgh Parade Day Dash!
Pittsburgh Musical Theater is ready to raise the curtain on another spectacular performance of the classic "Annie!" Pittsburgh Today Live's Daisy Jade got an inside look of what theater-goers can expect from this performance!
It's no secret that many boroughs in the Mon Valley are riddled with abandoned and decaying homes.
The Beaver Valley could become the center of artificial intelligence infrastructure for the region.
The county has a new tool for tackling blighted homes across Allegheny County.
The Pennsylvania State Police's fire marshal unit in Greensburg is offering a reward for information that leads to an arrest in connection with a suspicious fire in August.
When debt collection companies start calling, most people don't know what to do.
Fish fries can be a quandary for people with heart and other medical issues.
With a measles outbreak in Pennsylvania, local health experts want to send a message to families.
Cracking down on the price of prescription drugs is a hefty task.
The advisory, issued on Saturday, affected thousands of customers in Allegheny and Washington counties.
Pennsylvania American Water said that a first round of testing came back negative and an update can be expected late Monday morning.
Baldwin-Whitehall will be playing as an independent while Aliquippa will move down to 3A this upcoming season.
Western Pennsylvania has historically been a hotbed for producing talent that succeeds in the NFL.
Team Canada Head Coach Jon Cooper did not rule out Sidney Crosby for the remainder of the Olympics.
Bob Palko led West Allegheny to eight WPIAL championships and one PIAA state title in 24 seasons at the school.
Mike Wagner, a member of the Pittsburgh Steelers' famed "Steel Curtain" defense, has died, the team said. He was 76 years old.
Move over, Wawa, "there's a new player in town." Customers shed light on Pennsylvania's heated rivalry as Sheetz opened its first store in Montgomery County.
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.
"The Late Show" host Stephen Colbert criticized CBS on Monday night, saying the network blocked his interview with U.S. Senate hopeful James Talarico from airing.
Bruce Springsteen and The E Street Band will return to Pittsburgh this spring.
Warner Bros. Discovery said that Paramount Skydance is considering enhancing its buyout offer for the entertainment company.
Robert Duvall was in such classics as "The Godfather," "To Kill a Mockingbird," "M*A*S*H," "The Great Santini" and "Tender Mercies."
More extras are needed for "Mayor of Kingstown" when the show films its fifth and final season in Pittsburgh.
The former Prince Andrew, now Andrew Mountbatten-Windsor, was arrested for suspected misconduct in public office after revelations in the Jeffrey Epstein files. King Charles III's younger brother was arrested on his 66th birthday.
Stay on top of local weather with meteorologist Trey Fulbright’s forecast!
Baldwin-Whitehall and Aliquippa are making significant changes heading into next season. As KDKA's Chilekasi Adele learned, one school will be independent, while the other will be in a new classification.
The Team Canada and Penguins captain left the quarterfinal game against Czechia with an injury and did not return. On Thursday morning, Head Coach Jon Cooper did not rule him out for the remainder of the tournament.
If you see a giant wiener on wheels driving through Pittsburgh, don't be shocked, it's just the Oscar Meyer Wienermobile! Mikey Hood and Team PTL had a "frank" conversation with the driver!
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.
