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.
A youth baseball league and a middle school in Orangevale were impacted by a fire for the second time in as many months, officials said Thursday.
Two people were flown to the UC Davis Burn Center in Sacramento after suffering burn injuries in the Bug Fire near the California-Nevada border, authorities said Thursday.
The San Francisco 49ers begin their quest for a sixth Super Bowl title on Thursday, kicking off the 2026 preseason with a matchup against the Tennessee Titans.
The Sacramento Kings 2026-27 schedule was officially released Thursday, kicking off on the road in Los Angeles to take on the Clippers.
As of Aug. 13, Butte County had reported six human cases of West Nile virus. Statewide, 18 cases have been reported so far in 2026.
The ticket was sold at an ARCO ampm along Fair Oaks Boulevard in the Arden-Arcade area.
A youth baseball league and a middle school in Orangevale were impacted by a fire for the second time in as many months, officials said Thursday.
Two people were flown to the UC Davis Burn Center in Sacramento after suffering burn injuries in the Bug Fire near the California-Nevada border, authorities said Thursday.
The San Francisco 49ers begin their quest for a sixth Super Bowl title on Thursday, kicking off the 2026 preseason with a matchup against the Tennessee Titans.
The Sacramento Kings 2026-27 schedule was officially released Thursday, kicking off on the road in Los Angeles to take on the Clippers.
Bicycle advocates are calling for immediate changes to local roads and bike infrastructure after 10 bicyclists have been killed on Sacramento-area roadways so far this year.
Sacramento police arrested a suspect Monday night after he armed himself with a knife and lit fires at an apartment building, officials said.
A road worker on U.S. Highway 50 in Sacramento was killed in a crash involving a suspected drunk driver overnight Monday, authorities said.
Most high school students don't set foot on a college campus until after graduation. At one Sacramento City Unified School District campus, it's a graduation requirement.
Two people were injured in a suspected road-rage shooting Wednesday evening in North Sacramento, officials said.
The current law leaves it to California school districts and charter schools to roll out their own policies on how they want to restrict or ban smartphones. But there's growing momentum to go a step further.
A California bill, known as Leno's Law, aimed at easing smog-check requirements for older collector cars is advancing through the legislature. The measure would expand the state's existing exemption for certain older vehicles from the state's smog requirements.
Wagering on wildfires — that's what some people are doing on some prediction markets. But lawmakers say betting on a disaster crosses a line, and they're now pushing for new restrictions to stop it.
Nine schools just across the California-Nevada border will remain closed Wednesday as the Bug Fire continues to bring evacuations and power outages to communities north of Reno.
A preliminary report on the February avalanche that killed nine people released by the backcountry guide company involved assigned no blame for the tragedy.
The San Francisco 49ers begin their quest for a sixth Super Bowl title on Thursday, kicking off the 2026 preseason with a matchup against the Tennessee Titans.
The AL-best Tampa Bay Rays have become the second East Coast team in major league history to go 9-0 on a West Coast trip.
Westbrook played for Oklahoma City, Houston, Washington, both Los Angeles teams, Denver and Sacramento during his 18-year-career.
The Sacramento River Cats have announced their 2027 schedule – which includes, for the first time in franchise history, a home game on the Fourth of July.
The teams square off for the second time this season. In the last meeting on May 14 the Sky won 69-63 led by 18 points from Rickea Jackson, while Gabby Williams scored 18 points for the Valkyries.
The current law leaves it to California school districts and charter schools to roll out their own policies on how they want to restrict or ban smartphones. But there's growing momentum to go a step further.
A California bill, known as Leno's Law, aimed at easing smog-check requirements for older collector cars is advancing through the legislature. The measure would expand the state's existing exemption for certain older vehicles from the state's smog requirements.
U.S. Immigration and Customs Enforcement officers may soon be outfitted with gloves that can deliver painful electric shocks that are intended to gain compliance from combative individuals.
Wagering on wildfires — that's what some people are doing on some prediction markets. But lawmakers say betting on a disaster crosses a line, and they're now pushing for new restrictions to stop it.
Todd Blanche was sworn in as attorney general after the Senate narrowly voted to confirm the president's former defense lawyer to helm the Justice Department over the weekend.
The Social Security Administration is expanding its list of diseases and other health conditions that may qualify for accelerated approval of disability benefits.
In a wide-ranging interview with the CBS News partner BBC News, Hunter Biden grew emotional as he discussed his father's condition, describing it as very sad to watch.
Two Michigan residents who had "significant underlying health conditions" have died after contracting cyclosporiasis, the Michigan Department of Health and Human Services said.
CBS News Sacramento spoke with the head of UC Davis Children's Hospital about the rising cases and why measles specifically is the most infectious disease.
The case accuses OpenAI of practicing medicine without a license and failing to safeguard users seeking health advice.
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.
A wildfire burning in rugged terrain west of Lake Tahoe reached 15% containment Thursday as firefighters made overnight progress, though recreation areas remain evacuated and an evacuation warning is still in effect.
A fire in the area of Yuba Ridge Drive near Nevada City forced an evacuation order and warnings.
A 47-year-old woman was arrested on suspicion of intentionally starting the Fred Mountain Fire, one of two wildfires that have merged at the California-Nevada border as thousands of people remain under evacuation orders and warnings.
Crews in Northern California's El Dorado County have stopped the forward progress of a wildfire that prompted mandatory evacuation orders and warnings for parts of the Somerset area, officials said Monday.
It's a loss one friend says came after Susan Solari made the heartbreaking decision to stay behind with the dogs she loved.
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's a look at the weather forecast Thursday afternoon.
Nearly four months after a failed robbery at Chinna Jewelry in south Sacramento left a 72-year-old employee dead, two men have been arrested, authorities said.
Madisen Keavy reports.
Here's a look at all the fair fun!
All evacuation orders have been lifted.