Here's how the Fed's rate cut today may impact your finances
The Federal Reserve just lowered its benchmark rate by 0.50 percentage points. Here's how the move could impact your finances.
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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.
Federal Reserve Chair Powell, speaking at a conference in Jackson Hole, Wyoming, said the timing and pace of rate cuts will depend on economic data.
The Fed is leaving its benchmark interest rate unchanged, noting a lack of progress in curbing inflation.
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.
Inflation dropped to still-high 6%, likely bolstering Fed's resolve to keep raising interest rates well into 2023.
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.
"Inflation is much too high," Fed Chair Jay Powell said of the U.S. central bank's largest rate hike since 1994.
A water main break flooded part of Route 51 on Sunday.
Mikko Rantanen's final-round score was the only goal of the shootout and Jake Oettinger made 27 saves as the Dallas Stars beat the Pittsburgh Penguins 3-2 on Sunday night.
The investigation is ongoing.
Latrobe police are asking for the public's help in locating a person who is accused of stealing a Christmas tree from a resident's front porch.
The Pitt Panthers will play East Carolina in the 2025 Go Bowling Military Bowl.
A water main break flooded part of Route 51 on Sunday.
Mikko Rantanen's final-round score was the only goal of the shootout and Jake Oettinger made 27 saves as the Dallas Stars beat the Pittsburgh Penguins 3-2 on Sunday night.
The investigation is ongoing.
Latrobe police are asking for the public's help in locating a person who is accused of stealing a Christmas tree from a resident's front porch.
The Pitt Panthers will play East Carolina in the 2025 Go Bowling Military Bowl.
The Trump administration's elevation of Dr. Tracy Beth Høeg to lead a high-profile office within the Food and Drug Administration is raising alarm among multiple senior FDA officials.
President Trump presented medals to the 2025 Kennedy Center honorees during an Oval Office ceremony.
A Pittsburgh attorney has filed a petition on behalf of the family of a Colombian man killed in a U.S. military strike on a boat in the Caribbean.
Republican Rep. Brian Fitzpatrick said he was readying a plan that would extend the Affordable Care Act subsidies for two years.
President Trump, facing criticism that he's focused more on international issues than kitchen-table concerns, will rev up his domestic messaging, two GOP sources said.
Federal funding will finally be available to thousands of families in Pennsylvania to help pay their heating bills.
Electric prices in Pennsylvania are going up next month.
Saturday's grand opening included live music, food, and a meet-and-greet with Lego Master Krist Kay.
Thursday will be the first time many people cook and host Thanksgiving dinner - here's how you can avoid illness and danger.
To much fanfare, the 51st Aldi opened in the Pittsburgh area on Thursday morning.
Heather and David are taking a look back at the week.
The 5th annual PTL Toy Drive is tomorrow!
Downtown Pittsburgh is coming alive with a holiday flair.
For the first time in nearly a quarter century, the Pittsburgh Ballet Theatre is unveiling a brand-new version of "The Nutcracker."
The stars are in town for Steel City Con. Chris DeRose has more about what to expect.
Veterans are outraged after learning about damage done to gravesites at a cemetery in Fayette County.
Artificial intelligence is watching where people park in Pittsburgh.
Drivers who were convicted of infractions years ago are being told to surrender their licenses or file costly appeals because Allegheny County never processed the paperwork.
For most students, the most dangerous part of their day is going to and from school.
Shopping malls are under threat from online shopping and disappearing customers, and many are facing the wrecking ball.
A CDC vaccine panel voted to stop recommending the birth dose of the hepatitis B vaccine.
Western Pennsylvania counties are seeing vaccination rates fall among school-aged children.
The discussion happens every year: shoveling snow can lead to heart attacks, and one AHN cardiologist explains why it's a risk.
A little boy from Delaware County is getting his once-in-a-lifetime wish, just in time for the holidays.
Consumers with the imported pans should throw them away due to the severe health risks posed by lead, the agency warns.
Mikko Rantanen's final-round score was the only goal of the shootout and Jake Oettinger made 27 saves as the Dallas Stars beat the Pittsburgh Penguins 3-2 on Sunday night.
Western Pennsylvania has historically been a hotbed for producing talent that succeeds in the NFL.
The Pitt Panthers will play East Carolina in the 2025 Go Bowling Military Bowl.
The Pittsburgh Steelers beat the Baltimore Ravens 27-22 in a battle of AFC North rivals on Sunday at M&T Bank Stadium.
Kickoff between the Steelers and the Ravens is set for 1:00 p.m. at M&T Bank Stadium in Baltimore.
Members of the Newspaper Guild of Pittsburgh voted last week to end their three-year-long walkout.
Norfolk Southern railroad worked with the state of Ohio and Youngstown State University to revive plans for a $20 million first responder training center near the site of the worst derailment in a decade in East Palestine, Ohio.
A report on the future of water in central Ohio warns that industrial demands for water will skyrocket at the same time experts expect farmers will need to regularly irrigate their fields.
The U.S. Department of Energy says it's loaning $1 billion to help finance the restart of the nuclear power plant on Pennsylvania's Three Mile Island.
A new Barnes & Noble is coming to Pittsburgh.
President Trump presented medals to the 2025 Kennedy Center honorees during an Oval Office ceremony.
Vanessa Hudgens and former Pittsburgh Pirates player Cole Tucker welcomed their second child.
Christina Aguilera and Liev Schreiber were spotted at Wednesday's Pittsburgh Penguins game at PPG Paints Arena.
Jimmy Cliff, who famously sang about the "many rivers" we all must cross, has died after suffering a seizure and pneumonia, his family say.
Donald Glover, who performs under the moniker Childish Gambino, revealed he suffered a stroke last year, which forced him to cancel his tour.
Christmas kicked off in Hopewell on Saturday night with the ninth annual Holly Jolly Christmas Concert, which included a performance from KDKA First Alert Meteorologist Mary Ours!
Stay on top of local weather with First Alert Meteorologist Trey Fulbright's forecast!
Police in Latrobe are asking for the public's help in locating a person who is accused of stealing a Christmas tree from a resident's front porch.
The Women's Center and Shelter of Greater Pittsburgh was one of the first domestic violence programs in the country, and it's the second-largest in Pennsylvania. Through the years, it has helped thousands escape abuse and recovery. Megan Shinn shares their story in the KD Sunday Spotlight.
Three people had to be taken to the hospital, and one person was arrested after an early morning crash on Verona Road.
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.
West Virginia scored a late touchdown to tie the game and then beat Pitt in overtime to win the 108th Backyard Brawl.
