As inflation cools, workers "are getting ahead," Treasury's Yellen says
"Americans should feel confident that inflation will come down to levels that will no longer really be noticeable or worrisome to them," Yellen told CBS News.
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"Americans should feel confident that inflation will come down to levels that will no longer really be noticeable or worrisome to them," Yellen told CBS News.
Rents over the last two decades have risen much faster than employee pay, contributing to an escalating homelessness crisis in the U.S.
Upticks signal a longer wait for rate cuts as the Federal Reserve's war against inflation isn't won just yet.
Workers in some jobs, including many who are self-employed, enjoyed double-digit wage gains last year. Here's who got the biggest pay bumps.
This year's robust stock market performance defied analysts' predictions as investors cheered prospects of lower interest rates and inflation.
U.S. economy continues to plow ahead, as holiday shoppers shell out more on gifts this year than predicted.
Billions of dollars' worth of gift cards go unspent every year. Here's what to know about redeeming them — and avoiding scams.
Just 1 in 5 say they'll buy more gifts for others this season, compared to recent past years — and this is true even among higher-income earners.
Consumer's snapped up Costco's new gold bar offerings, contributing to the company's strong earnings last quarter.
Inflation across the U.S. continues to fall but remains sticky, with the cost of rent, medicare care and used cars edging up last month.
Many feel worse off than their parents' generation as income isn't keeping up.
Compared with 2021, the typical household must spend an additional $11,434 annually just to maintain their standard of living, analysis shows.
Red Lobster added all-you-can-eat shrimp to its menu. Then it realized how much Americans can eat.
About 60% of American workers say their income has lagged inflation over the past 12 months, survey shows.
President Joe Biden has made America's case to CEOs attending the Asia-Pacific summit in San Francisco that the United States is committed to high standards in trade that will benefit economies across the Pacific.
Prices across the U.S. rose 3.2% compared with a year earlier, slightly below economists' forecasts.
About two in three Americans say their household expenses have risen over the last year, but only about one in four say their income has increased in the same period.
Spending at US retailers continued to grow last month, a fresh sign that American shoppers aren't tapping out just yet.
The number of Americans applying for unemployment benefits was unchanged last week, remaining at historically low levels in another sign that the U.S. job market remains strong in the face of higher interest rates.
The price per box is increasing to $6, up from $5 last year, in select parts of the US.
The 2024 inflation adjustment won't be as large as last year's hike. That means some older Americans could lose ground.
Despite uptick in prices, Wall Street analysts still expect inflation to continue easing over the coming months.
Child poverty in the United States more than doubled and median household income declined last year when coronavirus pandemic-era government benefits expired and inflation kept rising.
Stocks are holding on to gains after Federal Reserve Chair Jerome Powell said more rate hikes could be on the way.
The largest drop in pessimism about the economy since summer 2022 has come from Republicans.
The shooting happened in the area of Pixie Drive and Doray Court, around 10:15 p.m.
Across the country, vinyl record sales are the highest they have been in decades as Sacramento record shops say what was once considered an art form of the past has the younger generation tuning in.
A Sacramento County community came together on Friday night to honor a neighbor who they said helped make the streets a little happier.
Proposed water rate increases from the Nevada Irrigation District are drawing concern across the Northern Sierra Foothills, especially for those who depend on water to make a living.
The deal, approved by the FCC, would create a company that owns 265 television stations in 44 states and Washington, D.C.
The shooting happened in the area of Pixie Drive and Doray Court, around 10:15 p.m.
Diana Sanders, a nurse at a Vacaville hospital, filed the lawsuit after the January 2024 incident aboard the Carnival Radiance.
The arraignment continues for six out of the eight people arrested in connection with the Esparto explosion that killed seven men.
From building bridges to water and power plants, several public works projects in the Sacramento region are being impacted by rising costs.
Across the country, vinyl record sales are the highest they have been in decades as Sacramento record shops say what was once considered an art form of the past has the younger generation tuning in.
From building bridges to water and power plants, several public works projects in the Sacramento region are being impacted by rising costs.
A group of Sacramento parents is pushing back on a plan to replace all the grass playing surfaces at Crocker Riverside Elementary School with artificial turf.
The stretch of Stockton Boulevard from East Sacramento to Elk Grove is one of the deadliest roadways in all of Sacramento County. Now, new efforts are underway to reduce the number of serious car crashes.
The Sacramento County District Attorney's Office said jurors are expected to be sworn in Tuesday morning, with opening statements to follow.
The California Hispanic Chamber of Commerce hosted the first gubernatorial candidate forum since the fallout from the Eric Swalwell scandal, bringing six candidates together in a packed Sacramento ballroom.
Thousands of University of California workers will walk off their jobs next month in what their union calls the first-ever open-ended strike over unfair labor practices across the UC system.
Frustration over rising power bills is a common complaint in California, and the state is bracing for increases in power consumption as the use of artificial intelligence grows.
The California Hispanic Chamber of Commerce hosted the first gubernatorial candidate forum since the fallout from the Eric Swalwell scandal, bringing six candidates together in a packed Sacramento ballroom.
California Gov. Gavin Newsom on Tuesday set the date for a special election to fill Eric Swalwell's congressional seat after his resignation following multiple sexual assault allegations.
A tornado briefly touched down in Northern California Sunday afternoon as high winds and thunderstorms continued, officials said.
Heliot Ramos hit a three-run homer, Logan Webb struck out six in six solid innings and the San Francisco Giants beat the Washington Nationals 10-5 on Friday night.
Macklin Celebrini had a goal and two assists to break Joe Thornton's San Jose record for points in a season with 115, helping the Sharks rout the Winnipeg Jets 6-1 on Thursday night in the finale for both teams.
Joc Pederson hit a go-ahead single in a four-run ninth inning and the Texas Rangers rallied last in a 9-6 victory over the Athletics to earn a split of their four-game series.
Landen Roupp allowed one hit in six innings and Matt Chapman had an RBI double to spark a three-run rally in the seventh and help the San Francisco Giants beat the Cincinnati Reds 3-0.
The Athletics (10-8) are alone atop the AL West, a game ahead of Texas (9-9), for the first time since June 19, 2021.
The deal, approved by the FCC, would create a company that owns 265 television stations in 44 states and Washington, D.C.
President Trump spoke with CBS News Friday in a new telephone interview.
After polling around 3% last month, former state attorney general Xavier Becerra jumped to 10% after Eric Swalwell dropped out of the California governor's race.
The technology would enhance Iran's ability to detect and track incoming threats, like low-flying drones and cruise missiles.
As the conflict in the Middle East drives up prices at the pump, experts say suspending gas and diesel taxes isn't the easy fix it may appear to be.
Food containing norovirus may smell and taste normal but still cause serious illness if consumed, FDA warns.
HHS Secretary RFK Jr. wants the popular coffee chains to prove their surgery drinks are safe for teens and suggested the Trump administration could place limits on your cup of coffee.
Public health officials say they've confirmed two cases of measles in Sacramento County.
Multiple elephant seal pups along the Northern California coast have tested positive for the deadly avian influenza, or bird flu, according to new research from the University of California.
Here's what to know about TrumpRx, including how it works, who can use it, and how much money it can save.
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.
An economic blackout was underway Friday as activists nationwide encouraged people not to spend their money at large corporations, retailers and fast-food chains for 24 hours.
San Joaquin County's retail theft reporting app has only been around for six months and is already bringing a sense of calmness to local business owners.
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.
A Sacramento County community came together on Friday night to honor a neighbor who they said helped make the streets a little happier.
Ashley Sharp reports.
Proposed water rate increases from the Nevada Irrigation District are drawing concern across the Northern Sierra Foothills, especially for those who depend on water to make a living.
Nina Burns reports.
Here's a look at the weather forecast Friday evening.