Fed unlikely to cut interest rates until 2027, Bank of America says
A "hawkish" turn at the Fed and stubbornly high inflation could delay interest rate cuts, according to Bank of America economists.
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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.
The great inflation spike of the past three years is nearly spent - and economists credit American consumers themselves for helping to slay it.
A high school student in Modesto was rescued after nearly drowning during an aquatics class on Thursday, authorities said.
City officials in Elk Grove were finalizing preparations on Friday for a visit by country superstar Luke Bryan and an expected attendance of over 20,000 of his fans on Saturday.
The long-necked herbivore is the largest ever found in Southeast Asia, researchers said.
A young bear appears to be roaming the UC Davis campus Friday morning, prompting an alert from school officials.
Kars4Kids is banned from using its ads in California after a court found that the funds from donated cars were used for teenagers' international trips and a $16.5 million building in Israel.
Top gubernatorial candidates faced off in a debate hosted Thursday by CBS News California and the San Francisco Examiner.
A high school student in Modesto was rescued after nearly drowning during an aquatics class on Thursday, authorities said.
A one-mile stretch of Florin Road between 24th and Munson Way is getting technology to help prevent these types of collisions.
City officials in Elk Grove were finalizing preparations on Friday for a visit by country superstar Luke Bryan and an expected attendance of over 20,000 of his fans on Saturday.
A former chief of staff to Gov. Gavin Newsom has pleaded guilty in an alleged scheme to steal campaign money from Xavier Becerra.
A new needle exchange pilot program at the Sacramento Public Library is drawing backlash from some neighbors who say they are concerned about the safety of families and children.
Sacramento city leaders are continuing negotiations over how to close a $66 million budget deficit, with councilmembers signaling support for preserving several community programs even as difficult cuts loom ahead.
Sacramento police are investigating a stabbing that they say left a woman in critical condition Tuesday evening in South Natomas.
A semi-truck caught on fire and was impacting traffic on Interstate 5 in South Sacramento late Tuesday afternoon, officials said.
A new sponsorship patch will adorn the jerseys of Sacramento Kings players next season.
Top gubernatorial candidates faced off in a debate hosted Thursday by CBS News California and the San Francisco Examiner.
California Gov. Gavin Newsom unveiled his final budget proposal Thursday.
A former chief of staff to Gov. Gavin Newsom has pleaded guilty in an alleged scheme to steal campaign money from former federal Health Secretary Xavier Becerra.
California public health officials said on Wednesday that they have identified a fifth resident who may have been exposed to the Andes hantavirus due to the outbreak on the MV Hondius cruise ship.
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.
Jordan Walker had a solo homer and drove in the go-ahead run in the ninth inning to lead the St. Louis Cardinals to a 5-4 win over the Athletics.
Nick Kurtz hit a grand slam, J.T. Ginn pitched six innings of one-run ball and the Athletics beat the St. Louis Cardinals 6-2 on Wednesday night.
The San Francisco 49ers will host the Minnesota Vikings for a game in Mexico City this fall, National Football League officials confirmed Wednesday.
JJ Wetherholt hit a two-run homer, José Fermín drove in two with a double and the St. Louis Cardinals beat the Athletics 6-4 on Tuesday night.
Jason Collins, the NBA's first openly gay player, who went on to become a pioneer for inclusion and an ambassador for the league, has died, his family announced Tuesday.
Top gubernatorial candidates faced off in a debate hosted Thursday by CBS News California and the San Francisco Examiner.
Top gubernatorial candidates met onstage Thursday at a debate hosted by CBS News California and the San Francisco Examiner.
The Supreme Court has maintained mail access to the abortion pill mifepristone, setting aside for now a lower court order that blocked abortion providers from prescribing the widely used drug through telehealth and shipping it to patients.
California Gov. Gavin Newsom unveiled his final budget proposal Thursday.
A former chief of staff to Gov. Gavin Newsom has pleaded guilty in an alleged scheme to steal campaign money from former federal Health Secretary Xavier Becerra.
California public health officials said on Wednesday that they have identified a fifth resident who may have been exposed to the Andes hantavirus due to the outbreak on the MV Hondius cruise ship.
"Your doctor could be making decisions around treatment based on studies that never existed," one expert said.
The head of the World Health Organization says "our work is not over" to contain hantavirus after evacuations from a cruise ship hit by a deadly outbreak of the illness.
A Sacramento County resident is among four Californians being monitored for possible exposure to the Andes hantavirus linked to a deadly cruise ship outbreak, state health officials announced.
San Francisco Bay Area health officials provided an update on a resident who was exposed to the hantavirus during a cruise in the Atlantic, adding that the risk to the public remains low.
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.
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.
More than two dozen structures were destroyed in a wildfire in the eastern Sierra Nevada mountains on Wednesday afternoon, officials said.
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.
Meteorologist Kristine Hanson says it will be slightly cooler over the weekend, with winds and high fire danger.
A one-mile stretch of Florin Road between 24th and Munson Way is getting technology to help prevent these types of collisions.
Voters across Sacramento shared what issues they think are the most important in California.
Steve Large breaks down the California governor's debate in San Francisco.
Here's a look at the weather forecast Thursday evening.