Federal Reserve holds interest rates steady but leaves door open to hike
U.S. inflation is expected to remain elevated through the end of the year, Fed officials say in their latest forecast.
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U.S. inflation is expected to remain elevated through the end of the year, Fed officials say in their latest forecast.
The personal consumption expenditures price index, the Federal Reserve's preferred gauge of inflation, jumped due to higher energy costs.
A "hawkish" turn at the Fed and stubbornly high inflation could delay interest rate cuts, according to Bank of America economists.
Fed officials are grappling with a host of economic challenges, from stubborn inflation to a slowing job market.
Some economists think the Fed, facing inflationary pressures from rising energy prices, may not cut interest rates at all this year.
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 city of Winters is cracking down on e-bikes with stricter regulations on where they can be ridden.
A shooting at Pittsburg police headquarters on Thursday injured an officer and a suspect who brought a gun into a holding cell after not being properly searched, sources told CBS News Bay Area.
A formerly licensed gun dealer in Stockton was arrested when an investigation found he never paid the owners the proceeds of the guns he accepted on consignment, police said.
They're a piece of Sacramento-area history, call boxes that once served as a lifeline for drivers before cellphones became commonplace. Now, the Sacramento region is hanging up the phone.
A Roseville man was charged in a scheme in which he stole money from his employer and used most of it to gamble, federal prosecutors said Thursday.
The city of Winters is cracking down on e-bikes with stricter regulations on where they can be ridden.
A shooting at Pittsburg police headquarters on Thursday injured an officer and a suspect who brought a gun into a holding cell after not being properly searched, sources told CBS News Bay Area.
"Diesel is just a couple of ticks away from hitting a new record," one energy expert said. "That will happen."
A formerly licensed gun dealer in Stockton was arrested when an investigation found he never paid the owners the proceeds of the guns he accepted on consignment, police said.
They're a piece of Sacramento-area history, call boxes that once served as a lifeline for drivers before cellphones became commonplace. Now, the Sacramento region is hanging up the phone.
The Sacramento Zoo's future in Land Park is officially taking another step forward. The city council approved an updated expansion plan that has already changed following community feedback.
The Sacramento City Council has approved a $2.2 million project aimed at making streets safer for students walking and biking to seven schools.
Plans for a long-awaited bike and pedestrian trail along the Sacramento River are facing another hurdle after state flood officials approved two new private fences along a section of the riverfront.
Sacramento could soon have more places where people can legally enjoy alcoholic beverages outdoors during special events.
A Sacramento man was arrested after police said he threatened two people with a sword and later barricaded himself inside a home last weekend.
In 2024, more than 450 people 20 and younger were killed on California roadways. Now there's a new virtual effort in California to change bad driving behavior.
Three novice hikers became stranded after their AI-planned ascent to the summit turned into a multi-day ordeal requiring a rescue operation.
Suisun City and the California Forever development group announced on Tuesday that they have finalized the first phase of a revitalization plan for the downtown area of the city.
It's all aimed at reducing highway fatalities and targeting fraud by removing 110 commercial driver's license schools across the nation.
California lawmakers are set to vote Tuesday on a scaled-back wildfire liability package after Gov. Gavin Newsom's push to shield utilities from some of the costs associated with fires sparked by their equipment failed to gain enough support.
Tiger Woods has pled no contest to a charge of reckless driving months after pleading not guilty to two misdemeanor charges.
Brandon Nimmo set season highs with four hits and five RBIs, Corey Seager scored three times and the Texas Rangers beat the Athletics 8-5 to move within one game of Houston atop the AL West.
Brandon Lowe scored from third base on an error with two outs in the ninth to lift the Pittsburgh Pirates to a 13-12 victory over the San Francisco Giants.
The longtime Dallas Cowboys quarterback and CBS Sports football analyst said he came to rely on alcohol to get off pain medications after multiple back surgeries.
Rafael Devers hit his 30th home run of the season as the San Francisco Giants snap the Atlanta Braves' seven-game winning streak with a 7-3 win.
A federal judge is considering whether to continue blocking a U.S. Postal Service rule imposing new requirements for mail voting.
A federal judge has temporarily blocked a Trump executive order that would prevent certain people from automatically becoming U.S. citizens at birth.
The Pentagon will begin requiring male service members ages 30 and older to get screened for testosterone deficiency, after Defense Secretary Pete Hegseth called for the change over the summer.
The House Ethics Committee detailed the North Carolina Republican's "unprofessional and inappropriate conduct" toward two young women who worked for him.
A bill that would toughen penalties for assaults against utility workers is being sent to Gov. Gavin Newsom's desk, after being approved by the California legislature.
Stanislaus County has reported its first human case of West Nile virus for 2026 as the number of cases in California surges compared to recent years.
Moderna and Merck announced study results that reflect a "landmark moment" in treatment for one of the deadliest forms of skin cancer.
Multiple unpermitted street food vendors in Fairfield were cited for violations last week after inspections found them selling food unsafe for public consumption, authorities said.
The Social Security Administration is expanding its list of diseases and other health conditions that may qualify for accelerated approval of disability benefits.
In a wide-ranging interview with the CBS News partner BBC News, Hunter Biden grew emotional as he discussed his father's condition, describing it as very sad to watch.
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.
Two firefighters were injured while battling a wildfire in California's Mariposa County that prompted evacuation orders and road closures.
An evacuation order for the Ross Fire in Calaveras County was downgraded as crews stopped the forward progress.
The evacuation order and warning were lifted for the Clover Fire in the Alta Sierra area in Nevada County on Friday afternoon.
Evacuation orders have been lifted for a wildfire that ignited east of Mountain Ranch in Calaveras County on Thursday, officials said.
An evacuation warning for a wildfire burning in the Tahoe National Forest was lifted as containment increased to 55%.
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.
A Northern California couple with UC Davis ties is among the thousands still missing a week after the catatrophic flooding in Nepal, the university confirmed Wednesday.
At 39 years old, McKernan is still chasing a dream he had since he was a child. The Sacramento boxer is 16-2 and ranked in the Top 15 in the country. The Beast believes he's closer than ever to a shot at a world title. Sara Hodges reports.
An interview with Talia D'Amato with the Feminist Democrats of Sacramento.
In Elk Grove there was a showdown between local startup businesses pitching their ideas for a big payout. Marlee Ginter reports.
Political analyst Gary Dietrich breaks it all down.