Here's what the Fed's interest rate pause means for your money
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
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After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
The U.S. averted disaster by raising the debt ceiling, but a mild recession is still possible even as job numbers remain hot, according to the head of Bank of America. Mark Strassmann breaks down how the U.S. economy is doing.
President Biden Saturday signed a bipartisan bill that will suspend the nation's debt ceiling and avoid what could have been a catastrophic government default. Christina Ruffini has more.
President Biden will likely sign the debt limit bill later today after the House and Senate approved it this week. It's a win for the president as the 2024 campaign season gets underway in earnest. CBS News Correspondent Wendy Gillette reports from New York.
President Biden delivered remarks from the Oval Office Friday night after Congress passed bipartisan legislation to suspend the U.S. debt limit until 2025. Watch his address in this CBS News Special Report, with analysis from Margaret Brennan and Nancy Cordes.
The president spoke less than 24 hours after the Senate approved the agreement in a bipartisan vote.
The debt ceiling deal has cleared both chambers of Congress and is headed to the president's desk.
The U.S. Senate is now taking up the compromise bill to raise the debt ceiling and avoid a catastrophic default. The House overwhelmingly passed the measure on Wednesday, but there are some grumblings in the Senate. Natalie Brand reports.
A majority of Democrats and a majority of Republicans voted in favor of the Fiscal Responsibility Act.
Skyler Henry reports on members of the House of Representatives debating the White House debt ceiling deal (5-31-2023)
House Freedom Caucus members are unhappy with the debt ceiling deal between House Speaker Kevin McCarthy and President Biden.
Natalie Brand reports on members of the House of Representatives preparing to vote on the White House debt ceiling deal (5-31-2023)
Scott McFarland reports on criticism leveled from both sides of the aisle against debt limit bill (5-29-2023)
President Biden and House Speaker McCarthy both expressed optimism that they would be able to get their respective parties on board for the debt ceiling plan they negotiated. Natalie Brand has the latest.
After days of intense negotiations and weeks of talks, an agreement in principle has been reached to raise the debt ceiling.
The House Democratic leader said he can guarantee the U.S. will not default on its debt.
Bradley Blackburn reports on agreement reached to raise debt limit just days ahead of default (5-28-2023)
The massive storms that soaked California at the beginning of this year allowed many in the state to automatically be granted a tax extension. But that’s causing problems for the U.S. balance sheet as it approaches the deadline to raise the debt ceiling. Julie Weil, a tax reporter for the Washington Post, has more.
Republican lawmakers want the government to slash federal spending, which ballooned during the pandemic.
President Joe Biden wrapped up a meeting with House Speaker Kevin McCarthy to discuss raising the debt ceiling as the U.S. government will soon run out of money to pay its bills -- and possibly dive into a recession if no deal is reached. Nicole Sganga reports.
Negotiations over the debt ceiling ended on Capitol Hill as President Joe Biden and House Speaker Kevin Mccarthy prepare for face-to-face talks Monday afternoon.
Following several meetings Friday, White House negotiators and Republican congressional leaders left the Capitol without an agreement on solving the nation's debt ceiling crisis. President Biden is expected to cut short his Asia-Pacific trip to return to Washington to address the issue. Christina Ruffini has the latest.
Without a deal, Treasury Secretary Janet Yellen has said the U.S. could be unable to pay its bills and might default on its debt as soon as June 1.
Skyler Henry reports on the stalemate in the negotiations to raise the debt ceiling and avoid the first federal default in United States history.
The treasury secretary moved up her estimate of when the U.S. risks defaulting on its debt.
All lanes of southbound Interstate 880 in Oakland are open Tuesday afternoon, following a fuel spill involving a truck, authorities said.
A possible suspicious device near the San Mateo County courthouse in Redwood City prompted a large police response on Tuesday morning.
Authorities in San Mateo County on Monday announced the arrest of an East Bay man in connection with at least a dozen copper thefts throughout the Peninsula.
A shooting involving ICE agents in Stanislaus County left one person hospitalized, authorities say.
San Francisco city officials announced Monday that 127 workers are receiving layoff notices, as the city grapples with a nearly $1 billion budget deficit.
All lanes of southbound Interstate 880 in Oakland are open Tuesday afternoon, following a fuel spill involving a truck, authorities said.
A possible suspicious device near the San Mateo County courthouse in Redwood City prompted a large police response on Tuesday morning.
Authorities in San Mateo County on Monday announced the arrest of an East Bay man in connection with at least a dozen copper thefts throughout the Peninsula.
A shooting involving ICE agents in Stanislaus County left one person hospitalized, authorities say.
San Francisco city officials announced Monday that 127 workers are receiving layoff notices, as the city grapples with a nearly $1 billion budget deficit.
A possible suspicious device near the San Mateo County courthouse in Redwood City prompted a large police response on Tuesday morning.
Authorities in San Mateo County on Monday announced the arrest of an East Bay man in connection with at least a dozen copper thefts throughout the Peninsula.
San Francisco city officials announced Monday that 127 workers are receiving layoff notices, as the city grapples with a nearly $1 billion budget deficit.
The family said one child suffered skull fractures on both sides of his head, and has since been released from the hospital. Safety advocates say the crash is part of a troubling pattern.
Caltrans is warning drivers to expect major delays through downtown San Francisco later this month as the agency has scheduled a full closure of eastbound Interstate 80 for an entire weekend.
All lanes of southbound Interstate 880 in Oakland are open Tuesday afternoon, following a fuel spill involving a truck, authorities said.
Oakland Fire said nearly 30 firefighters responded to the scene and were able to get a handle on the fire by 1:20 a.m. No one was injured, and the extent of the damage was not yet known.
Oakland Blooms is the theme for this First Fridays event in Oakland. While there was a good crowd on Telegraph Avenue, some vendors, like Kai Smalls, said they noticed a difference after the fatal shooting in March.
Walk into The Sewing Room in the heart of Alameda on any given evening, and you would find a place bursting at the seams.
A home-based food movement has been heating up in California, with home cooks turning their beloved family recipes into small businesses.
A speeding driver in San Jose crashed along Capitol Expressway early Sunday morning and died in the resulting fire, police said on Monday.
Two people were killed, including a teenager, following separate suspected DUI crashes in Monterey County over the Easter weekend, authorities said.
A deadly early morning fire at a San Jose apartment was sparked by a rechargeable e-bike battery, the San Jose Fire Department said.
The Computer History Museum is more than a walk through the past; it is a reflection of how rapidly technology continues to shape everyday life.
A magnitude 4.6 earthquake struck in Santa Cruz County early Thursday morning and was felt by residents throughout the Bay Area.
On April 14, the Tamalpais Union High School District will be discussing and potentially voting on a plan that would restrict cellphone usage on campus.
A 12-year-old Santa Rosa girl missing since late Thursday evening was found safe, police said Friday afternoon.
A Sonoma County man has been arrested on multiple weapons charges and a hate crime charge, after he allegedly pointed a gun and made racist remarks from the roof of his home.
An American Canyon man was charged on Wednesday with manslaughter and driving under the influence following a weekend crash in Napa County that left three people dead and four others severely injured, prosecutors said.
A suspect was positively linked to the cold case murder of Marjorie Rudolph, a San Rafael woman killed inside her home in 1966, police announced Tuesday.
Will Smith earned his 100th NHL point with a third-period goal, and the San Jose Sharks beat the Chicago Blackhawks 3-2 on Tuesday night.
There's been a lot of postgame thinking to do for Tony Vitello given the new Giants manager's frustrating 3-8 start in his jump from college coach to the major leagues.
This is Michigan's second NCAA title in school history, and the win ends a 26-year national championship drought for the Big Ten.
Alperen Sengun made the go-ahead layup with 11 seconds left on a pass from Kevin Durant, and the Houston Rockets held off Stephen Curry in his return after being sidelined more than two months for a 117-116 victory.
Stephen Curry was set to play about 25 minutes against Houston on Sunday night in his return from a two-plus-month absence because of a right knee injury.
A possible suspicious device near the San Mateo County courthouse in Redwood City prompted a large police response on Tuesday morning.
Authorities in San Mateo County on Monday announced the arrest of an East Bay man in connection with at least a dozen copper thefts throughout the Peninsula.
The Solano County Sheriff's Office and the Vallejo Police Department hosted a community town hall to engage neighbors about the new partnership between the two agencies to better patrol underserved areas in Vallejo.
Two people were killed, including a teenager, following separate suspected DUI crashes in Monterey County over the Easter weekend, authorities said.
Four suspects were arrested in San Francisco last week after a strong-arm robbery and several auto burglaries, police said Monday.
The Computer History Museum is more than a walk through the past; it is a reflection of how rapidly technology continues to shape everyday life.
NASA said they had more than 2,600 submissions from around the world for the zero-gravity indicator mascot. Officials added that the Artemis II crew was inspired by 8-year-old Lucas Ye's creativity.
Officials in Foster City said Friday that they are making progress in restoring services, more than a week after a cybersecurity breach brought the city's network down and led to a state of emergency.
Experts say the rulings could expose tech companies to more litigation and pressure them to make changes to their apps.
The verdict, which caps a weeks-long trial in Los Angeles, could set a legal precedent for similar allegations brought against social media companies.
A dead bat found at a Fremont home earlier this week has tested positive for the deadly rabies virus, according to authorities.
An East Bay woman is using the sport of pickleball to help find a cure for Parkinson's disease.
An unlicensed cosmetologist from Florida has been found guilty in a California court for providing an injection that killed a model who was known as a Kim Kardashian lookalike, prosecutors said.
The early-season heat wave gripping the Bay Area also means the allergy season is already kicking into high gear.
He advises people to lie down, extend their arms, and hold the phones above their heads, or people should hold their phone at eye level, rather than looking down.
San Francisco city officials announced Monday that 127 workers are receiving layoff notices, as the city grapples with a nearly $1 billion budget deficit.
While Epstein was on work release from a Florida jail nearly 20 years ago, he had sex in a vehicle in the prison parking lot, according to a FBI interview.
The endorsement comes as two Republicans vie for the top two spots in June's primary election amid a crowded, split Democratic field.
The Trump administration has shut down the CIA World Factbook, and there's much lamenting about the demise of a free, trusted source many people used to check basic facts about countries.
A U.S. crew member who went missing when an F-15E fighter jet was shot down over a remote area of Iran has been rescued by U.S. forces.
Transgender women athletes are now excluded from women's events at the Olympics after the IOC agreed to a new eligibility policy on Thursday.
The Trump administration has given San Jose State University 10 days to change its policy on transgender athletes or face legal action and possibly lose federal funding.
A man has been arrested and accused of a hate crime after a San Francisco church was vandalized over the weekend, police said.
A Yosemite park ranger was fired last year after helping to display a transgender pride flag from El Capitan.
After more than two years of renovations, the historic Castro Theatre is back open for business.
Adrian Arias's work, entitled "Layers of the Mission: A Celebration of Memory and Resilience," is intended to bring attention to who he describes as real-life neighborhood heroes.
City leadership recently passed legislation that they say will help established event activators plan and execute at a much faster pace.
The price hike raises the cost of the standard plan with ads by $1 per month and the cost of the standard and premium plans by $2.
An unlicensed cosmetologist from Florida has been found guilty in a California court for providing an injection that killed a model who was known as a Kim Kardashian lookalike, prosecutors said.
Through his social media channel, "Festus Feasts," NBA champion Festus Ezeli is on a mission to give a boost to local restaurants throughout the region.
Ever since the COVID-19 pandemic, the Oakland Unified School District has seen an alarming spike in the number of unhoused students in the school system who deal with a host of challenges far beyond what most children face.
Meteorologist and CBS News Bay Area's resident pilot Lt. Jessica Burch got a treat during Fleet Week, taking to the skies with one of the Blue Angels.
A Bay Area man discovered his devastating loss left him with a new opportunity to rethink how he lives -- follow his journey in virtual reality, 360-degree video.
A groundbreaking medical study involving the UCSF Medical Center has shown some colorectal cancer patients can safely skip radiation treatment and enjoy a potentially higher quality of life.
Every day, San Francisco bar pilot Captain Zach Kellerman goes through what might just be the world's most dangerous commute.
The San Mateo County Sheriff's Office and Redwood City Police Department were working to clear a suspicious vehicle in the parking structure on Tuesday.
On Tuesday, expect clear skies and highs in the 70s inland. Showers are expected to return later this week. Zoe Mintz has the forecast.
Kevin Ko reports on recent layoffs in San Francisco.
Len Ramirez reports on Operation Freedom Paws.
Kelsi Thorud reports on the work to restore the salmon population at Lagunitas Creek.
In 2025, KPIX is moving to a new community service award: the CBS News Bay Area Icon Award. Submit nominations for an outstanding community hero at kpix.com/icon.
It's the most wonderful time of the year for a South Bay woman who has played Mrs. Claus for more than 40 years for the children of North San Jose's Alviso District.
For residents of the Oakland Hills, the prospect of another wildfire always remains a concern. This week's Jefferson Awards winner has made it his mission to make the hills and other high-risk areas safer.
In East Palo Alto -- where state education numbers show more than nine in ten public school students are low income and more than half are English learners -- many are finding hope and connection at the Boys & Girls Clubs of the Peninsula.
This week's Jefferson Award winner is Army veteran who continues to live a life of service into his 80s, by feeding hundreds of San Francisco families a week.
A Bay Area man who overcame tremendous obstacles to excel in school has made it his mission to gear up other students for success in the classroom and in life.
For Students Rising Above scholar Josh Collins it took moving across the country to realize the value of his Bay Area family.
Samir Hooker had to grow up fast after his stepfather was shot dead 12 years ago. Now he is watching over his mom and sister while attending UC Berkeley.
It's hard enough to graduate from one of the most prestigious schools in the country when you're the first in your family to go to college. Imagine doing that while you're also trying to protect your parents from being deported?
Some students who are the first in their families to go to college face the challenge of balancing a rigorous academic load while still working to help support their family back home.