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.
An inmate ran out of a preliminary hearing at the Fairfield Courthouse Tuesday afternoon, knocking down a deputy district attorney and making it out of the courtroom before he was quickly apprehended, the Solano County Sheriff's Office said.
Mayor Matt Mahan said this year is consequential due to an updated housing zoning element.
For California's craft distilleries, the ability to ship directly to customers has become an important way to reach consumers beyond their tasting rooms and local restaurants.
Economists caution that large regional estimates do not necessarily show how much money reached individual neighborhood businesses or whether the gains continued after visitors left.
Chantel Brooks was last seen on surveillance footage from July 17 leaving a CVS on East Travis Boulevard in Fairfield.
An inmate ran out of a preliminary hearing at the Fairfield Courthouse Tuesday afternoon, knocking down a deputy district attorney and making it out of the courtroom before he was quickly apprehended, the Solano County Sheriff's Office said.
Mayor Matt Mahan said this year is consequential due to an updated housing zoning element.
Economists caution that large regional estimates do not necessarily show how much money reached individual neighborhood businesses or whether the gains continued after visitors left.
Chantel Brooks was last seen on surveillance footage from July 17 leaving a CVS on East Travis Boulevard in Fairfield.
On Aug. 7, Badlands and Toad Hall announced it would pause its use of PatronScan and would check ID's manually.
Economists caution that large regional estimates do not necessarily show how much money reached individual neighborhood businesses or whether the gains continued after visitors left.
On Aug. 7, Badlands and Toad Hall announced it would pause its use of PatronScan and would check ID's manually.
A body was recovered from San Francisco Bay near the Ferry Building on Sunday evening, authorities said.
The future of Head Start programs nationwide could be in jeopardy, as the federal government released a new proposal to push for deregulating the program.
San Francisco Public Works began its 14-month Broadway Tunnel project on Sunday, with a full tunnel closure to run through Monday morning.
Voters are deciding who will carry out the remainder of former Rep. Eric Swalwell's congressional term in California's 14th Congressional District.
A good Samaritan was wounded in a shooting in an Alameda shopping center parking lot on Saturday, police said.
But these days, she's also planting something that's taken her cooking to new heights, and maybe her mood too.
A proposed AI and technology hub in downtown Oakland is drawing sharp opposition from residents, and now the councilmember who represents the district says she's working to de-escalate hostile rhetoric surrounding the project.
Oakland cleanup crews have a new tool in the city's ongoing battle against illegal dumping: a giant mechanical claw designed to quickly remove large, bulky piles of trash.
Mayor Matt Mahan said this year is consequential due to an updated housing zoning element.
Two adults and four teens in a stolen vehicle were arrested in Santa Cruz after colliding with a patrol vehicle and leading police and highway patrol officers on a chase, authorities said.
After nearly a month in U.S. Immigration and Customs Enforcement detention, Alevtina Soboleva and her daughter emerged through the doors at SFO Sunday morning.
San Jose and Santa Cruz's last 8 p.m. sunset was Aug. 14. San Francisco's last 8 p.m. sunset is Aug. 16. And Santa Rosa's is Aug. 18.
A Bay Area woman and Russian immigrant who is seeking political asylum was released on bond Friday after being detained by U.S. Immigration and Customs Enforcement last month.
Villa Marin is self-governed by its residents, who own their apartments and pay an average of $6,000 a month in HOA fees. That includes housekeeping, paddle courts, a library, a salon, and a fully equipped health center with on-site medical staff.
San Jose and Santa Cruz's last 8 p.m. sunset was Aug. 14. San Francisco's last 8 p.m. sunset is Aug. 16. And Santa Rosa's is Aug. 18.
Santa Rosa kicked off a pilot program Friday night to bring life back into the downtown area. The goal is to help local businesses keep their doors open and flourish. But it's also an opportunity to bring community back to the city.
A blues virtuoso and a wayward Southern belle living in the Bay Area are sharing their recipe for comfort and joy.
An animal rescue group in the Bay Area said it has rescued a young coyote that was recently found in an illegal trap.
The 2027 WNBA All-Star Game will be hosted at Chase Center in San Francisco, the league announced Tuesday.
Gabby Williams had 23 points and seven rebounds, Veronica Burton added 16 points and five assists, and the Golden State Valkyries clinched a playoff berth by beating the Dallas Wings 78-70 for their sixth straight victory.
Adael Amador and Brett Sullivan each hit a three-run home run to help the Colorado Rockies beat the San Francisco Giants 13-7.
One of Tommy John's biggest legacies to MLB was his comeback elbow reconstruction surgery that now bears his name.
Logan Webb gave up four hits and one run in six innings, Drew Gilbert had three hits including a home run and three RBIs, and the San Francisco Giants beat the Colorado Rockies 7-1.
An inmate ran out of a preliminary hearing at the Fairfield Courthouse Tuesday afternoon, knocking down a deputy district attorney and making it out of the courtroom before he was quickly apprehended, the Solano County Sheriff's Office said.
Two adults and four teens in a stolen vehicle were arrested in Santa Cruz after colliding with a patrol vehicle and leading police and highway patrol officers on a chase, authorities said.
A good Samaritan was wounded in a shooting in an Alameda shopping center parking lot on Saturday, police said.
Five people were injured in the shooting involving multiple suspects. One person is currently listed in critical condition, the university said.
A coach and teacher in San Mateo County has been arrested for alleged sex crimes involving a former student, authorities said.
On Aug. 7, Badlands and Toad Hall announced it would pause its use of PatronScan and would check ID's manually.
The lawsuit accuses the social media giant of contributing to the youth mental health crisis by deliberately designing features that addict children to its platforms.
A proposed AI and technology hub in downtown Oakland is drawing sharp opposition from residents, and now the councilmember who represents the district says she's working to de-escalate hostile rhetoric surrounding the project.
Even though the purchase was announced back in December, the city of Oakland says it has received no proposals from the company.
Officials in the City of Pittsburg announced Wednesday that it lost nearly $1 million in a phishing incident earlier this year, adding that most of the money has been recovered.
Multiple unpermitted street food vendors in Fairfield were cited for violations last week after inspections found them selling food unsafe for public consumption, authorities said.
After weeks of uncertainty, students at Richmond's John F. Kennedy High School will start their classes on schedule after weeks after toxic chemicals were found underneath the campus.
Sunnyvale police raided smoke shops across the city and seized thousands of illegal products over the past two months, the city's Department of Public Safety said.
Despite a rash of foodborne illnesses in recent months, one expert said the nation's food supply is "remarkably safe." Here's what to know.
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.
Mayor Matt Mahan said this year is consequential due to an updated housing zoning element.
For California's craft distilleries, the ability to ship directly to customers has become an important way to reach consumers beyond their tasting rooms and local restaurants.
Voters are deciding who will carry out the remainder of former Rep. Eric Swalwell's congressional term in California's 14th Congressional District.
California lawmakers are weighing whether to take action after videos surfaced showing an electric-shock glove that may soon be used as part of federal immigration enforcement.
In May, a federal judge dismissed a criminal indictment against Abrego Garcia, who had been accused of smuggling immigrants in the U.S. illegally.
California Attorney General Rob Bonta has joined a coalition of 19 attorneys general in supporting a federal lawsuit challenging Idaho's law that bars transgender students from using school restrooms and other sex-separated facilities that align with their gender identity.
Berlin police did not identify the suspect, who is still at large, by name but said that he was already known to police and is from Berlin.
LGBTQ+ communities have significantly higher rates of unemployment than the general population. Kelsi Thorud reports on how the City of Oakland is empowering LGBTQ+ job seekers during Pride Month.
The fallout over the opposition by a handful of San Francisco Giants players against the team's Pride Night celebrations has prompted an investigation of Major League Baseball by the Trump administration.
Major League Baseball has warned players about writing on their uniforms after San Francisco starter Landen Roupp and two other pitchers added Bible verses to their Pride Night caps on Friday night.
Hayden Panettiere, who starred in "Remember the Titans" as a child actor and rose to fame in the series "Heroes," has died at the age of 36. The coroner's office says she was found in cardiac arrest.
A blues virtuoso and a wayward Southern belle living in the Bay Area are sharing their recipe for comfort and joy.
Becky G spoke exclusively with "CBS Mornings" co-host Gayle King about her rise to fame, being the breadwinner of the family at a young age and her new music.
While Outside Lands in San Francisco was expected to attract a quarter million people to San Francisco, another event in the Bay Area also offered music, food and dancing, but with an island flair.
A California lawmaker wants to address the rising cost of event tickets by limiting how much some tickets can be marked up on the resale market.
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.
Katie Nielsen reports.
Sooji Nam reports.
Brad Hamilton reports.
Kenny Choi reports.
with Zoe Mintz.
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.