Here's what the Fed's interest rate pause means for your money
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
Watch CBS News
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
The president spoke less than 24 hours after the Senate approved the agreement in a bipartisan vote.
The debt ceiling deal has cleared both chambers of Congress and is headed to the president's desk.
The legislation now goes to President Biden's desk, pulling the nation back from the brink of a financial crisis.
The House passed the bill to raise the debt ceiling Wednesday. Now, the Senate will take it up.
A majority of Democrats and a majority of Republicans voted in favor of the Fiscal Responsibility Act.
Rep. Thomas Massie broke with two other conservatives on the House Rules Committee to advance the legislation to the House floor.
After days of intense negotiations and weeks of talks, an agreement in principle has been reached to raise the debt ceiling.
The House Democratic leader said he can guarantee the U.S. will not default on its debt.
Time is running short for House Republicans and the White House to reach an agreement on the debt ceiling to avoid default.
McCarthy said Sunday that he had a "productive" call with Mr. Biden as the president returns from the G-7 conference in Japan.
The United States could default on its debt in less than two weeks, and cities with a large military presence risk an economic firestorm if lawmakers don't act.
Millions of Social Security recipients "need to be very careful" about spending because payments could be delayed, one expert said.
Former President Donald Trump said in a CNN town hall that Carroll's story was "fake" and "made up," despite the swift and unanimous verdict.
The treasury secretary also told G-7 finance ministers and central bank chiefs meeting in Japan that a first-ever U.S. default on its debts is "unthinkable."
"No one should assume that the Fed can… really protect the economy and the financial system, and our reputation globally, from the damage such an event might inflict," Federal Reserve Chairman Jerome Powell said.
Republicans and Democrats still appear far apart on raising or suspending the debt ceiling. The five leaders are expected to meet again Friday.
The treasury secretary moved up her estimate of when the U.S. risks defaulting on its debt.
Here are the options Congress has to avert a first-time U.S. credit default and the severe economic consequences that could follow.
The federal government caps the amount of money it can borrow. But what are the risks if Congress fails to lift the debt limit?
Without congressional action, the U.S. could default as soon as June, she wrote in a letter Friday.
The Folsom Police Department says DUI-related crashes fell 30% in 2025, and the city recorded zero fatal DUI-related collisions last year.
One person was killed Friday night after a vehicle crashed into a power pole in Yolo County, the California Highway Patrol said.
California's unemployment rate remains among the highest in the nation as more residents turn to state benefits for financial support — but some say they're struggling to get help from the agency responsible for processing those claims.
A California lawmaker wants to address the rising cost of event tickets by limiting how much some tickets can be marked up on the resale market.
When a massive pipeline failed in Northern California's Yuba County earlier this year, the focus quickly turned to repairs. Six months later, the ripple effects are reaching beyond the mountainside.
California Gov. Gavin Newsom on Friday announced the rollout of the state's new electric vehicle instant rebate program, touting it as part of an investment in the state's clean-vehicle future.
It's a loss one friend says came after Susan Solari made the heartbreaking decision to stay behind with the dogs she loved.
Modesto's Gregori High School has shared that water on campus is now safe to drink, following reports of contaminated water in June.
The Folsom Police Department says DUI-related crashes fell 30% in 2025, and the city recorded zero fatal DUI-related collisions last year.
A person was arrested after a break-in and suspicious fire at a Sacramento grocery store early Friday morning.
Most high school students don't set foot on a college campus until after graduation. At one Sacramento City Unified School District campus, it's a graduation requirement.
Two people were injured in a suspected road-rage shooting Wednesday evening in North Sacramento, officials said.
Parents who have lost their kids to gun violence met in Downtown Sacramento for a special National Night Out gathering to raise awareness and gather signatures of support for a proposed new law that would increase security at nightclubs.
Movie crews are rolling into town to shoot "Mona," a coming-of-age film set in the 1990s by Sacramento native Danielle Truitt, who returned home to tell a story inspired by her own childhood.
The Sacramento Police Department said it is investigating a shooting that happened late Saturday night at a large house party in the city's Fab 40s neighborhood.
California's unemployment rate remains among the highest in the nation as more residents turn to state benefits for financial support — but some say they're struggling to get help from the agency responsible for processing those claims.
A California lawmaker wants to address the rising cost of event tickets by limiting how much some tickets can be marked up on the resale market.
California Gov. Gavin Newsom on Friday announced the rollout of the state's new electric vehicle instant rebate program, touting it as part of an investment in the state's clean-vehicle future.
Teamsters California announced that it is suing the state Department of Motor Vehicles over new regulations allowing companies to seek permits to test and deploy driverless heavy-duty trucks.
A body was recovered from a burned home in the Gann Fire burn scar in Northern California's Calaveras County, the coroner's office confirmed Thursday.
David Forst won't return as general manager of the Athletics, with the team announcing Friday that the two sides have "mutually agreed to part ways.".
Elly De La Cruz hit his fourth career leadoff home run — one of four homers by Cincinnati — and the Reds beat the Athletics 6-5 to complete a three-game sweep.
Longtime San Francisco Giants broadcaster Mike Krukow announced on Thursday that he would retire at the end of the season.
Matt McLain homered, Rhett Lowder won for the first time since April and the Cincinnati Reds beat the Athletics 3-2 on Wednesday night.
Elly De La Cruz and Sal Stewart drew walks leading off the eighth inning against Hogan Harris and both scored on wild pitches to help the Cincinnati Reds beat the Athletics 5-4.
First Assistant U.S. Attorney Bill Essayli hired former top aide Shawn Lewis to be a federal law enforcement liaison, though Lewis has three prior convictions for driving under the influence and a pending battery charge.
The Pentagon on Friday released a new batch of documents and images related to UFOs, the fifth disclosure in recent months about the strange encounters.
California Attorney General Rob Bonta has joined a coalition of 19 attorneys general in supporting a federal lawsuit challenging Idaho's law that bars transgender students from using school restrooms and other sex-separated facilities that align with their gender identity.
The Supreme Court in June struck down President Trump's earlier executive order aimed at ending birthright citizenship.
Republican Sen. Mitch McConnell of Kentucky was hospitalized on June 14.
Two Michigan residents who had "significant underlying health conditions" have died after contracting cyclosporiasis, the Michigan Department of Health and Human Services said.
CBS News Sacramento spoke with the head of UC Davis Children's Hospital about the rising cases and why measles specifically is the most infectious disease.
The case accuses OpenAI of practicing medicine without a license and failing to safeguard users seeking health advice.
A generic version of the allergy medication Zyrtec is under recall across the U.S. over cross-contamination concerns.
Here's how weight-loss drugs like Ozempic and Wegovy could reduce worker illness and save companies money.
During the program's first year, it will be offered at about 65 to 75 hospitals that handle about a quarter of births in the state and largely serve low-income patients, Newsom's office said.
Fresh off their undefeated season and conference championship win, the women on the team are speaking out for the first time.
Finding the perfect dress isn't easy, but now, selling them could become a lot more challenging.
This weekend, Placer County is hosting its annual Sip Into Spring event, offering free or discounted tastings at more than 20 wineries along what's known as the Placer Wine Trail.
From fruits and veggies to car parts, economists project that businesses will pass along the cost of the tariffs to customers.
President Trump and Gov. Gavin Newsom have made several different claims about California gas prices. Here's what we found.
This year-long investigation provides an unprecedented look at California's one-party supermajority legislature through the eyes of grieving parents who discover how California lawmakers kill popular bills by not voting.
This year-long investigation by CBS News California investigative correspondent Julie Watts examines the many components of California's new tougher-on-crime law.
A Natomas mother demanded that her daughter be exhumed and cremated after a Sacramento cemetery moved her grave without telling the family.
The California Highway Patrol captain accused of workers' compensation fraud was the commander in charge of the fatal Mahaney Park shootout in Roseville, three officers who worked under him at the time of the shootout said.
CBS13 and the Call Kurtis consumer investigative team devised an idea on how to lower what consumers owe on their credit cards -- and it begins with a simple phone call.
No one wants to think about death. However, it's important to plan on what happens to your digital assets after you die.
After spending $18,000 on waterproof laminate floors, a Natomas couple spotted damage after the first cleaning.
More than a year after Hai Pham canceled the trial membership, he kept getting charged every month for it.
A Natomas mother demanded that her daughter be exhumed and cremated after a Sacramento cemetery moved her grave without telling the family.
It's a loss one friend says came after Susan Solari made the heartbreaking decision to stay behind with the dogs she loved.
For Mary Anne and Glenn Meeks, the fire's rapid growth left little time to prepare. The couple spent the night at an evacuation center in Valley Springs after flames moved to within a few miles of their home.
The Northern California wildfire has burned 7,052 acres with no containment, keeping evacuations in place near New Hogan Lake.
All evacuation orders have been lifted for a fast-moving wildfire that sparked near the Nevada and Yuba county line Wednesday afternoon.
Firefighters stopped the forward progress of a vegetation fire that forced evacuations Sunday afternoon in the Pilot Hill area of El Dorado County.
Their message is simple: keep showing up, keep moving and keep your heart open, because sometimes, the person who changes your life is living right across the street.
A Sacramento County dog picked up thousands of miles from home after he went missing five years ago was reunited with his family on Wednesday.
What started as a suspicious circumstances call for Rancho Cordova police ended with a newborn surprise.
A once-empty lot behind Church of the Cross in north Modesto now hosts a thriving community garden with more than 140 plots and growers from across the globe.
A Sacramento-area middle school history and English teacher is in the running to win big as America's Favorite Teacher, a title her students think she is more than worthy of being awarded.
Here is a look at your next seven days of weather!
Madisen Keavy reports.
One person died in the crash, which happened just outside of the Esparto area, officials say.
The Folsom Police Department says DUI-related crashes fell 30% in 2025, and the city recorded zero fatal DUI-related collisions last year.
California Gov. Gavin Newsom on Friday announced the rollout of the state's new electric vehicle instant rebate program, touting it as part of an investment in the state's clean-vehicle future.