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.
About 111 million Americans are carrying credit card balances, a 17% increase in five years, new research shows.
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.
A new report from Realtor.com projects that the housing market will shift in a more buyer-friendly direction in 2026.
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.
The CFPB is suing Capital One for allegedly misleading consumers about its offerings for high-interest savings accounts.
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.
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.
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 Federal Reserve just cut a key interest rate for the first time in four years.
The Average rate for 30-year fixed mortgage now stands at 6.44%, the lowest in 16 months, according to the Mortgage Bankers Association.
The federal government announced Wednesday that it will keep interest rates where they are for now, but that could change in the next few weeks.
After years of soaring housing costs, renters are getting some relief as the Federal Reserve looks to extinguish inflation.
The Federal Reserve marked its first rate decision of 2024 by keeping its benchmark interest rate unchanged.
Rent across the U.S. is dipping as vacancies rise and property managers struggle to fill homes, new data shows.
U.S. economy continues to plow ahead, as holiday shoppers shell out more on gifts this year than predicted.
The central bank has pushed pause after 11 straight interest-rate hikes. Here are steps to take with your money now.
Although inflation has slowed sharply, Fed officials are again tapping the brakes to ensure the economy slows.
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
Folsom and Rancho Cordova residents may see smoke Wednesday due to a prescribed burn near Prairie City State Vehicular Recreation Area.
A marriage proposal at the UC Davis School of Medicine commencement ceremony is going viral.
Sacramento actress Danielle Truitt is returning to her hometown to shoot a new short film inspired by her childhood in South Sacramento.
A historic bell that belonged to a Lodi-area church for more than a century has been recovered after it was stolen.
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."
Could high-speed buses could one day make trips across the state much faster. A Caltrans study is looking for answers.
Folsom and Rancho Cordova residents may see smoke Wednesday due to a prescribed burn near Prairie City State Vehicular Recreation Area.
Authorities have arrested the Sacramento man wanted in connection with the 2024 death of his partner and have safely recovered the pair's missing children.
A marriage proposal at the UC Davis School of Medicine commencement ceremony is going viral.
Sacramento actress Danielle Truitt is returning to her hometown to shoot a new short film inspired by her childhood in South Sacramento.
For music producer Derek Sample, his wife was diagnosed with stage 3 cancer the day the fires broke out. They are now displaced, even though their home survived because of the toxins that rendered their home unlivable.
Sacramento City Council candidate Jenn Chawla has condemned what she said were separate incidents of her campaign signs being vandalized with racist slurs.
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.
The California Department of Transportation, better known as Caltrans, is studying whether high-speed buses could one day make trips across the state much faster.
Many Pacific Gas and Electric customers are without power on Sunday as planned de-energizations start over critical fire weather.
Forecasters issued warnings to Northern California residents about widespread gusty winds and high fire danger as well as beach hazards during the weekend.
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.
Harrison Bader hit a grand slam that capped an eight-run eighth inning and the San Francisco Giants beat the sloppy Athletics 10-1 in 25-35 mph winds.
Casey Schmitt hit two home runs and drove in three, Trevor McDonald struck out five in 6 2/3 innings, and the San Francisco Giants beat the Athletics 6-4.
Nick Kurtz homered for a third straight game, hitting a go-ahead three-run shot in the fifth inning and the Athletics beat the San Francisco Giants 5-2 on Friday night.
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 Supreme Court's term is set to end around the end of June, with decisions on birthright citizenship, transgender athlete bans and gun rights still to come.
For music producer Derek Sample, his wife was diagnosed with stage 3 cancer the day the fires broke out. They are now displaced, even though their home survived because of the toxins that rendered their home unlivable.
An uptick in people skipping Obamacare premium payments in many states suggests the Affordable Care Act's rising costs are hitting home for 2026 enrollees.
Sacramento City Council candidate Jenn Chawla has condemned what she said were separate incidents of her campaign signs being vandalized with racist slurs.
Gas prices, inflation weigh on Americans. Many see lack of clarity on what's happening in Iran.
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.
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.
CHP says the crash involved four vehicles, including one big rig.
Marlee Ginter reports on Danielle Truitt creating a film about growing up in Sacramento and her search for local actors.
Conor McGill reports on a Caltrans study about high-speed bus travel.
Steve Large reports on the Congressional District 7 race.
Charlie Lapastora reports on the Stockton Cargo SC.