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 Yolo County Board of Supervisors on Tuesday approved a local state of emergency declaration in response to the invasive golden mussel species.
A group of Downtown Sacramento business owners says they grew tired of watching garbage pile up on city streets and decided to roll up their sleeves and take matters into their own hands.
California Gov. Gavin Newsom has retained prominent Washington defense attorney Abbe Lowell as the U.S. Department of Justice continues a federal investigation involving the governor's wife and several people in his political orbit.
A Yolo County jury on Tuesday found former UC Davis student Carlos Reales Dominguez guilty of two counts of involuntary manslaughter in connection with the 2023 fatal stabbings that shook the Davis community.
A mistrial was declared Tuesday in the trial of two men accused in Sacramento's 2022 K Street mass shooting after jurors failed to reach a verdict.
A mistrial was declared Tuesday in the trial of two men accused in Sacramento's 2022 K Street mass shooting after jurors failed to reach a verdict.
A Yolo County jury on Tuesday found former UC Davis student Carlos Reales Dominguez guilty of two counts of involuntary manslaughter in connection with the 2023 fatal stabbings that shook the Davis community.
The Yolo County Board of Supervisors on Tuesday approved a local state of emergency declaration in response to the invasive golden mussel species.
Two Siskiyou County men have been charged with kidnapping two U.S. Forest Service employees who prosecutors say were abducted at gunpoint and held for 15 hours in a remote Northern California trailer.
A group of Downtown Sacramento business owners says they grew tired of watching garbage pile up on city streets and decided to roll up their sleeves and take matters into their own hands.
A group of Downtown Sacramento business owners says they grew tired of watching garbage pile up on city streets and decided to roll up their sleeves and take matters into their own hands.
Power lines in the area were damaged by the growing flames and fell toward the firefighters who were trying to access the building from a side alley, the fire department said.
The 2026 FIFA World Cup came to a close Sunday with Spain defeating Argentina in the championship match, ending a month-long tournament that transformed Sacramento bars, restaurants and coffee shops into gathering places for soccer fans.
Granny Award-winning artist Wyclef Jean was scheduled to perform Saturday at the Sky River Casino Stage, but the California State Fair announced just five hours before showtime that the concert had been canceled due to "unforeseen circumstances."
For the first time ever, the California State Fair will feature an exhibit like no other. This temporary display is filled with artifacts and rich traditions from the first people of California.
A United Airlines employee appears to have been caught on video threatening to call ICE on a passenger last week at San Francisco International Airport.
Two Siskiyou County men have been charged with kidnapping two U.S. Forest Service employees who prosecutors say were abducted at gunpoint and held for 15 hours in a remote Northern California trailer.
A body found in San Francisco Bay on Thursday afternoon was identified as one of the three passengers missing after the sinking of their boat near Alcatraz Island on Tuesday.
A man who lost relatives in the San Francisco Bay boating tragedy says his brother who captained the vessel was an experienced seaman and not at fault.
A coalition of crime victims' families, prosecutors and victim advocates filed a lawsuit challenging new California Board of Parole Hearings regulations they say could allow some of the state's most violent offenders to seek release.
Kiki Iriafen had 23 points and 12 rebounds, Shakira Austin finished with 15 points and 15 rebounds, and the Washington Mystics rallied past Golden State for a 90-82 victory Monday night to snap the Valkyries' nine-game winning streak.
CJ Abrams and Dylan Crews hit back-to-back homers in the fifth inning to send the Washington Nationals to a 5-2 victory over the Athletics.
The 2026 FIFA World Cup came to a close Sunday with Spain defeating Argentina in the championship match, ending a month-long tournament that transformed Sacramento bars, restaurants and coffee shops into gathering places for soccer fans.
Spain dominated the match, outshooting Argentina 20-3, but couldn't manage a goal in regulation — finally scoring in the second period of extra time.
J.T. Ginn took a no-hitter into the seventh inning and the Athletics routed the Washington Nationals 15-1 to end their 10-game losing streak Saturday night.
California Gov. Gavin Newsom has retained prominent Washington defense attorney Abbe Lowell as the U.S. Department of Justice continues a federal investigation involving the governor's wife and several people in his political orbit.
Defense Secretary Pete Hegseth told lawmakers the Iran war has cost $37.5 billion. Sources told CBS News the total cost could be far higher, in part due to military construction for damaged U.S. bases.
Homeland Security Investigations is an arm of ICE, meaning the immigration enforcement agency would effectively be investigating incidents involving its own agents.
This is the first time in more than 150 years that a vice president's family had a child while in office.
White House border czar Tom Homan said "I think body cameras are the way to go" after fatal shootings by federal immigration officers in Texas and Maine earlier this month.
Here's how weight-loss drugs like Ozempic and Wegovy could reduce worker illness and save companies money.
Taylor Farms said none of its branded salads or kits contain the iceberg lettuce associated with the outbreak.
A Monterey County company is now at the center of a nationwide cyclosporiasis outbreak. The Washington Post is reporting that lettuce from Taylor Farms, a company headquartered in Salinas, may have supplied contaminated lettuce to Taco Bell.
A lettuce supplier to fast-food giant Taco Bell has been linked to a nationwide cyclosporiasis outbreak that has sickened thousands of people, the CDC said.
Officials are still searching for the source of the outbreak, prompting consumers to seek advice on social media about which foods to avoid.
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.
Firefighters stopped the forward progress of a vegetation fire that forced evacuations Sunday afternoon in the Pilot Hill area of El Dorado County.
Nothing but rubble remains of the McCombs home that was destroyed by the Kearny Fire. All their kids' toys, a wedding dress, memories and everything that meant something to them are completely gone.
All evacuation orders were lifted for a grass fire in rural Nevada County, west of Penn Valley, on Tuesday.
The Van Fire was reported Wednesday northeast of White Rock Road in Cathey's Valley, and north of Eastman Lake. The cause of the fire remains under investigation.
Three firefighters were injured while attacking a rapidly spreading vegetation fire sparked by a vehicle fire on Monday afternoon near Groveland, officials said.
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.
Ashley Sharp reports.
Brady Halbleib reports.
Here is a look at your next seven days of weather!
Darrielle Fair reports.
Steve Large reports.