Trump nominates Kevin Warsh as next Federal Reserve Board chair
President Trump says he is nominating Kevin Warsh to be the next chair of the Federal Reserve, filling a powerful economic policy role as the president pushes for lower interest rates.
Watch CBS News
President Trump says he is nominating Kevin Warsh to be the next chair of the Federal Reserve, filling a powerful economic policy role as the president pushes for lower interest rates.
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.
Three former Fed chairs and other top economic officials decry "prosecutorial attacks" on Jerome Powell, saying it undermines the central bank.
The Fed on Wednesday announced its second interest-rate cut of 2025, reducing borrowing costs in a move to spur U.S. hiring.
Some Sacramento residents on the housing hunt have hope after the Federal Reserve cut its benchmark interest rate for the first time in nine months.
The Federal Reserve is cutting its benchmark interest rate as the U.S. economy faces headwinds, including a faltering labor market.
The Fed is maintaining its benchmark interest rate in the range of 4.25% to 4.5%, where it's been parked since December.
President Trump has lashed out against Federal Reserve Chair Jerome Powell for weeks.
Employers across the U.S. added 147,000 jobs in June, while the unemployment rate fell to 4.1%.
President Trump wants the Federal Reserve to cut interest rates. Here's what experts predict at the central bank's May 7 meeting.
The Federal Reserve opted to leave its benchmark interest rate unchanged in its first policy meeting since President Trump's inauguration.
The Federal Reserve on Wednesday moved to lower its benchmark rate by 0.25 percentage points, but said it plans fewer cuts in 2025.
The Federal Reserve announced a third rate cut today, but also cautioned it expects fewer cuts in 2025.
Fed Chair Jerome Powell responded with a one-word answer when asked if he'd step down if asked by President-elect Donald Trump.
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.
This month's report reflects a lot of noise due to hurricanes, Boeing machinists strike.
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 has slashed borrowing costs for the first time in more than four years. Here's how that would impact people with credit card balances.
The great inflation spike of the past three years is nearly spent - and economists credit American consumers themselves for helping to slay it.
The Federal Reserve marked its first rate decision of 2024 by keeping its benchmark interest rate unchanged.
The central bank has pushed pause after 11 straight interest-rate hikes. Here are steps to take with your money now.
Although inflation has slowed sharply, Fed officials are again tapping the brakes to ensure the economy slows.
The Rams won the school's 23rd Sac-Joaquin section girls' basketball title against defending champion McClatchy on Saturday at Golden 1 Center.
In an effort to revitalize California's dying downtowns, state lawmakers are looking at ways to stop restaurants and retailers from going out of business and to fill vacant and boarded-up spaces.
Law enforcement officials are investigating after two people were stabbed at the Downtown Commons (DOCO) in Sacramento on Monday night.
Demonstrators in Sacramento gathered on Monday as part of a coordinated nationwide day of action protesting the escalating U.S.-Israeli war with Iran.
The satellite images show damage to sites including the Choqa Balk-e drone facility and former Supreme Leader Ayatollah Ali Khamenei's compound.
The congressman's seat is one of the targets of Prop. 50 redistricting push.
A Northern California man's parents are stuck in the Iranian war zone. Roseville resident Bardia Hariri's mother and father are safe in their Tehran home, as the city has been bombed around them.
Three American fighter jets were "mistakenly shot down by Kuwaiti air defenses," CENTCOM said in a statement Monday, as the war with Iran continued for a third day.
The Rams won the school's 23rd Sac-Joaquin section girls' basketball title against defending champion McClatchy on Saturday at Golden 1 Center.
Starting Monday, you'll see a new look at CBS News Sacramento.
Law enforcement officials are investigating after two people were stabbed at the Downtown Commons (DOCO) in Sacramento on Monday night.
Demonstrators in Sacramento gathered on Monday as part of a coordinated nationwide day of action protesting the escalating U.S.-Israeli war with Iran.
Another rate hike for parking meters across Sacramento is being considered to help balance the city's $66 million budget deficit. Here are the changes that could be coming to parking spaces across the city.
Adding to the Sacramento skyline is a $300 million project to replace one of the city's most prominent landmarks: the I Street bridge.
If you drive into Sacramento, chances are you're being caught on camera.
In an effort to revitalize California's dying downtowns, state lawmakers are looking at ways to stop restaurants and retailers from going out of business and to fill vacant and boarded-up spaces.
Congressman Kevin Kiley has announced his plan to run in California's newly redrawn 6th district.
A California judge has tentatively stopped the state from canceling commercial licenses for more than 20,000 immigrant truck drivers.
There's a push at the California State Capitol to allow community colleges to offer bachelor's degree programs.
This week's avalanche north of California's Lake Tahoe has become the deadliest in the state's recorded history. Here are the warning signs experts say you should recognize to avoid avalanche danger.
The Rams won the school's 23rd Sac-Joaquin section girls' basketball title against defending champion McClatchy on Saturday at Golden 1 Center.
The Faith Christian School girls' varsity basketball team just won it all for the second year in a row.
The Athletics had the highest success rate using the robot-umpire system to overturn ball/strike calls during the first 10 days of spring training, winning 69.2% of challenges as teams prepared for its regular-season debut March 25.
Luka Doncic had 28 points and nine assists, LeBron James added 24 points and the Los Angeles Lakers finished a back-to-back set with a 128-104 victory over the Sacramento Kings.
Precious Achiuwa had a career-high 29 points and added 12 rebounds, Maxime Raynaud scored 22 points and the Sacramento Kings beat the Dallas Mavericks 130-121 on Thursday night.
A Northern California man's parents are stuck in the Iranian war zone. Roseville resident Bardia Hariri's mother and father are safe in their Tehran home, as the city has been bombed around them.
The Supreme Court order blocks for now a California law that bans automatic parental notification requirements if students change their pronouns or gender expression at school.
President Trump is a central figure for both Democrats and Republicans, going into the primary season, ahead of the 2026 midterm elections.
Congressman Kevin Kiley has announced his plan to run in California's newly redrawn 6th district.
The Supreme Court ruled last month at President Trump did not have the authority to issue his sweeping tariffs under a federal emergency powers law.
Multiple elephant seal pups along the Northern California coast have tested positive for the deadly avian influenza, or bird flu, according to new research from the University of California.
Here's what to know about TrumpRx, including how it works, who can use it, and how much money it can save.
Health officials in the East Bay said a man has died from consuming toxic wild mushrooms, amid an ongoing spike in mushroom-related poisonings throughout California.
Health officials in Napa County confirmed Wednesday that a child has been diagnosed with measles in the county's first case in nearly 15 years.
The Harmony Health Street Medicine team spends their days visiting encampments and connecting with vulnerable people, meeting them where they are and offering care outside of a clinic and without barriers.
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.
An economic blackout was underway Friday as activists nationwide encouraged people not to spend their money at large corporations, retailers and fast-food chains for 24 hours.
San Joaquin County's retail theft reporting app has only been around for six months and is already bringing a sense of calmness to local business owners.
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.
A man has been arrested and charged in connection with the Tiger Fire that burned 118 acres in California's Amador County last summer and forced evacuations near Pioneer.
A major home developer is rethinking how communities are built in wildfire-prone areas and the future is taking shape in El Dorado County.
San Joaquin County secured a grant aimed at helping to build a wildfire protection plan for the entire county.
More than two dozen structures were destroyed in a wildfire in the eastern Sierra Nevada mountains on Wednesday afternoon, officials said.
Clean-up has started in Chinese Camp after the TCU September Lightning Complex Fire ripped through the Gold Rush town earlier this month.
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.
Junior Romello Bruhn of Woodland Christian High School is closer than ever to scoring 3,000 career points, something only 13 high school athletes have accomplished in California state history.
Law enforcement officials are investigating after two people were stabbed at the Downtown Commons (DOCO) in Sacramento on Monday night.
Charlie Lapastora reports.
In an effort to revitalize California's dying downtowns, state lawmakers are looking at ways to stop restaurants and retailers from going out of business and to fill vacant and boarded-up spaces.
Demonstrators in Sacramento gathered on Monday as part of a coordinated nationwide day of action protesting the escalating U.S.-Israeli war with Iran.
Dom Garcia reports.