First inflation report under new Fed chief shows prices still rising
The personal consumption expenditures price index, the Federal Reserve's preferred gauge of inflation, jumped due to higher energy costs.
Watch CBS News
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 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.
Sacramento's city-owned pools will open for the season this weekend with a $2 admission special.
A woman has been arrested on suspicion of arson after a series of fires broke out in Woodland on Wednesday.
The utility said it is monitoring a wind event forecast to hit the region by Wednesday for expected public safety power shutoffs.
President Trump said he has called off new military strikes on Iran, hours after threatening to escalate the war.
Many have watched recently released UFO videos, but most still think the government knows more than it is saying.
Democrats redrew the map to gain an edge in California. Voters may have other ideas.
Sacramento's city-owned pools will open for the season this weekend with a $2 admission special.
The utility said it is monitoring a wind event forecast to hit the region by Wednesday for potential public safety power shutoffs.
Sacramento County's latest Point-in-Time count shows the number of homeless individuals in unincorporated areas has increased by 100% over the past two years.
A woman has been arrested on suspicion of arson after a series of fires broke out in Woodland on Wednesday.
Several families have secured shelter while advocates say others remain unhoused a week after the City of Sacramento transitioned from its Motel Shelter Program to an Emergency Shelter Vouchers for Families program.
An arrest has been made after a man was killed in a weekend shooting at an Arden-Arcade business, officials said on Tuesday.
A Citrus Heights man has been arrested in connection with a deadly stabbing that happened this week in Sacramento, officials said on Thursday.
A man has been charged with bringing an explosive device into Sacramento International Airport, federal prosecutors announced.
Independent Rep. Kevin Kiley and Democratic candidate Dr. Richard Pan have advanced in the race for California's redrawn 6th Congressional District, CBS News projects.
The utility said it is monitoring a wind event forecast to hit the region by Wednesday for expected public safety power shutoffs.
A California couple was injured after discovering their dogs were fighting a bear in the Mammoth Lakes area earlier this week, police said.
Three U.S. citizens, including two California residents, have been arrested by the FBI in connection with an alleged plot to support ISIS.
A series of offshore earthquakes shook near California's North Coast early Wednesday morning.
A massive search effort is ongoing for a man missing since Memorial Day weekend in the Desolation Wilderness near Lake Tahoe.
With matches being played in 11 cities across the U.S., Mexico and Canada, fans are getting three World Cup opening ceremonies.
The U.S. men's national soccer team, which last appeared at the 2022 World Cup, will face Paraguay to kick off its 2026 World Cup.
Carlos Cortes and Lawrence Butler hit towering home runs in the seventh inning to rally the Athletics to a 4-3 victory over the Milwaukee Brewers and win the series.
Henry Bolte hit his first career home run and the Athletics went deep five more times at Las Vegas Ballpark in a 7-5 victory over the Milwaukee Brewers.
The U.S. being a host country for the World Cup generates interest among fans, but less so among those who are not soccer fans.
Many have watched recently released UFO videos, but most still think the government knows more than it is saying.
California's Democratic Gov. Gavin Newsom spearheaded a redistricting initiative that was intended to make up to five more districts more friendly to Democrats. Voters may have different ideas.
Bill Gates told members of Congress on Wednesday that Jeffrey Epstein put his philanthropic work at risk, and that meeting him represented "a grave error in judgment."
Republican Steve Hilton, a former Fox News host and adviser to former British Prime Minister David Cameron, will advance to November's general election in the race to become California's next governor, CBS News projects.
A new analysis warns a proposed FEMA overhaul by a Trump-appointed panel would limit access to disaster aid for survivors, shifting the burden to state and local agencies amid hurricane season.
WHO chief Tedros Adhanom Ghebreyesus says risks from the Ebola outbreak in Congo and Uganda are "high at the national and regional levels, and low at the global level."
The cruise ship hit by a deadly hantavirus outbreak has docked at the Dutch port of Rotterdam for disinfection, wrapping up a troubled journey that put world health authorities on alert.
At least 80 deaths have been reported in a new Ebola disease outbreak in Congo and Uganda, authorities said.
Dr. Tracy Beth Høeg, leader of the Food and Drug Administration division responsible for regulating prescription and over-the-counter drugs, is leaving her post, a senior FDA official confirmed.
A West Park High School sophomore is celebrating the end of the school year and a second chance at life after suffering a sudden cardiac arrest during band class last month.
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.
Crews are battling a vegetation fire that was threatening structures near Camanche Reservoir in California's San Joaquin Valley, officials said Wednesday evening.
Six months after a California wildfire destroyed dozens of homes in the Tuolumne County community of Chinese Camp, officials say debris removal is now complete and properties are being returned to their owners.
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.
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 new name for a notorious street? It's a debate that was held at Citrus Heights City Hall. Supporters say it would help eliminate the stigma of Sayonara Drive, which has suffered from crime and blight in the past.
Madisen Keavy reports.
Crews are battling a vegetation fire that was threatening structures near Camanche Reservoir in California's San Joaquin Valley, officials said Wednesday evening.
Sacramento County's latest Point-in-Time (PIT) count shows the number of homeless individuals in unincorporated areas has increased by more than 100% over the past two years, from 560 to 1,140.
A stretch of downtown Lodi that some business owners said has long felt overlooked could soon see new attention under a city revitalization plan.