Federal Reserve raises interest rates for the first time since 2023
The Fed increased its benchmark rate by 0.25 percentage points to battle resurgent inflation driven by soaring energy prices.
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The Fed increased its benchmark rate by 0.25 percentage points to battle resurgent inflation driven by soaring energy prices.
The report comes at a pivotal moment for the Federal Reserve, which is scheduled to meet next week to decide whether to hike interest rates.
Strong hiring last month was driven by gains in education and in leisure and hospitality, with the nation's jobless rate remaining steady at 4.1%.
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.
The City of Stockton published its response to a scathing San Joaquin County civil grand jury report on Friday, promising a "governance reset."
President Trump moved to cancel almost $1 billion in spending that was approved by Congress, marking the second time his administration has employed a rarely used tactic that some lawmakers in both parties have called illegal.
Some popular recreation sites around Lake Tahoe could soon come with new fees as the U.S. Forest Service looks to address rising visitation and the cost of maintaining public lands.
Two years after the death of their son Colby Tevis from Sacramento to a random act of gun violence, the grief is just as raw. His Mom asks people to light a virtual candle online in memory of her son.
State and local officials are getting a firsthand look at the growing challenges posed by golden mussels in San Joaquin County, as the invasive species begins attaching itself to critical water infrastructure.
The day has been recognized by California since 1998, but it has not been a regular paid holiday for most state workers.
City officials say the name reflects the plaza's history as a gathering place tied to labor, civic life and public events.
Two years after the death of their son Colby Tevis from Sacramento to a random act of gun violence, the grief is just as raw. His Mom asks people to light a virtual candle online in memory of her son.
The City of Stockton published its response to a scathing San Joaquin County civil grand jury report on Friday, promising a "governance reset."
New express lane signs are going up along the freeway, offering drivers a preview of a major change coming to the Yolo Causeway.
Two years after the death of their son Colby Tevis from Sacramento to a random act of gun violence, the grief is just as raw. His Mom asks people to light a virtual candle online in memory of her son.
Women's Empowerment is a Sacramento-area nonprofit celebrating 25 years of helping women and their children move out of homelessness and toward stability.
Mortgage rates have climbed above 7% for the first time in nearly two years, adding another hurdle for California homebuyers already facing high housing costs.
After nearly two decades, Azul Mexican Food and Tequila Bar announced this week that it will close its Midtown Sacramento location due to impacts from rising costs and declining business over the last two years.
City leaders recently approved more than $1 million in spending tied to the centennial celebration, which will include public events, a rock 'n' roll exhibition and a projection light show on the historic building.
The day has been recognized by California since 1998, but it has not been a regular paid holiday for most state workers.
The couple says their French bulldog, Cassie, was fatally injured after getting between one of them and the bear.
A California bill that would expand organized sports programs in state prisons is now on Gov. Gavin Newsom's desk after receiving unanimous support from lawmakers.
A California Assembly bill that compels homeowners associations to set aside more money for future repairs could also sharply increase monthly HOA fees.
California Republican legislators are demanding an investigation into payments by state's high-speed rail project to consultants that a state watchdog last week called "wasteful and unallowable."
The NFL fined San Francisco 49ers All-Pro fullback Kyle Juszczyk for what it deemed an "offensive" celebration similar to one he had been doing for several years with no issues.
Bob Pettit was an All-American at LSU before going on to the NBA, where he was an All-Star for each of his 11 seasons, all with the Hawks. He led them to the 1958 championship over the mighty Boston Celtics, the Hawks' lone title.
Golden State (32-11) secured the No. 2 seed in the WNBA playoffs and will face seventh-seeded Dallas in a first-round series beginning on Sunday.
Donovan Walton hit a three-run homer and rookie Henry Bolte had his first four-hit game to help the Athletics beat the Los Angeles Angels 7-3 on Wednesday night.
Carla Leite made the tiebreaking basket with 1:57 left in overtime and then converted a three-point play with 26.5 seconds to play as the Portland Fire ended the season with a 90-82 victory over the Golden State Valkyries on Tuesday night.
President Trump moved to cancel almost $1 billion in spending that was approved by Congress, marking the second time his administration has employed a rarely used tactic that some lawmakers in both parties have called illegal.
The day has been recognized by California since 1998, but it has not been a regular paid holiday for most state workers.
With an unprecedented budget, ICE spent billions in a rush to expand its detention network, wasting millions in the process, the Government Accountability Office found.
Some units would "possibly [be] needed in 90-120 days," according to an internal Army message reviewed by CBS News.
A California bill that would expand organized sports programs in state prisons is now on Gov. Gavin Newsom's desk after receiving unanimous support from lawmakers.
Placer County has reported its first human case of West Nile virus this season as mosquito activity continues across the region and cases statewide have climbed to more than three times the number reported at this point last year.
The CDPH said an unvaccinated passenger who later was hospitalized with measles traveled around the country by train and bus, eventually moving through at least six California counties before heading to Denver, Colorado.
Planned Parenthood Mar Monte, the largest affiliate in the country, launched a new lineup of services more than six months ago in Sacramento that they say is helping fill a critical funding gap: aesthetics.
Nearly half of Americans with medical debt owe at least $2,000, forcing them to make tough choices, new research shows.
For children facing cancer and other serious medical conditions, a hospital stay can be especially difficult. But at hospitals across Northern California, one familiar superhero is helping bring some joy to kids who need it most.
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.
The Dome Fire in California's Yosemite National Park has rapidly grown as firefighters work to slow the flames burning in steep terrain in Mariposa County.
The Lucas Fire burning in the Potter Valley area of Mendocino County, right at the Lake County border, has prompted an evacuation order.
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.
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 are the best plays from week 5 of Friday Gameday.
Sutter wins 19-7.
Antelope wins 25-13.
Manteca wins 19-0.
Inderkum wins 19-12.