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.
The woman who began San Francisco's month-long celebration of Asian Pacific heritage in 2005 is still shining her spotlight on the community today.
If approved by voters, "Measure E" would tax single-family homes $192 per year to go towards emergency services, public safety and clean streets. City leaders anticipate that the tax would raise about $34 million per year.
Oakland Mayor Barbara Lee is marking one year in office by touting the city's progress in its homelessness strategy, crime rate, and overall outlook.
The San Francisco Fire Department said crews responded to 22nd and Mission streets for a report of a two-vehicle crash.
Gabby Williams knows all about the Bay Area, despite being a Nevada resident. She would travel from Reno to the Bay every spring and summer to play AAU basketball.
The woman who began San Francisco's month-long celebration of Asian Pacific heritage in 2005 is still shining her spotlight on the community today.
If approved by voters, "Measure E" would tax single-family homes $192 per year to go towards emergency services, public safety and clean streets. City leaders anticipate that the tax would raise about $34 million per year.
Oakland Mayor Barbara Lee is marking one year in office by touting the city's progress in its homelessness strategy, crime rate, and overall outlook.
The San Francisco Fire Department said crews responded to 22nd and Mission streets for a report of a two-vehicle crash.
Gabby Williams knows all about the Bay Area, despite being a Nevada resident. She would travel from Reno to the Bay every spring and summer to play AAU basketball.
The woman who began San Francisco's month-long celebration of Asian Pacific heritage in 2005 is still shining her spotlight on the community today.
The San Francisco Fire Department said crews responded to 22nd and Mission streets for a report of a two-vehicle crash.
Gabby Williams knows all about the Bay Area, despite being a Nevada resident. She would travel from Reno to the Bay every spring and summer to play AAU basketball.
Three people suspecting in a series of pickpocket crimes in San Francisco's Chinatown were arrested over the weekend after a weeks-long investigation, police said Tuesday.
The changes do not require any new equipment, just software changes to the existing gates. BART said the pilot program in Concord and Antioch has been successful, so they will begin making the switch at all the other stations, as well.
If approved by voters, "Measure E" would tax single-family homes $192 per year to go towards emergency services, public safety and clean streets. City leaders anticipate that the tax would raise about $34 million per year.
Oakland Mayor Barbara Lee is marking one year in office by touting the city's progress in its homelessness strategy, crime rate, and overall outlook.
Gabby Williams knows all about the Bay Area, despite being a Nevada resident. She would travel from Reno to the Bay every spring and summer to play AAU basketball.
Police investigating the death of a person found in waters off Richmond over the weekend now believe the person died after crashing into the bay, authorities said.
A man wanted for murder in New Zealand has been convicted in a shooting that injured a man in East Bay city of Oakley, prosecutors said.
A "boil water" notice was lifted for a Mountain View neighborhood on Tuesday, nearly a month after a water main became contaminated following a construction mishap.
A Salinas police officer has been arrested after being accused of possessing child sexual abuse material, authorities said Tuesday.
The death of an 8-year-old girl in San Jose last week has prompted an investigation by police and the Santa Clara County District Attorney's Office.
A former Santa Clara County jail guard has been sentenced to jail for his role aiding a group of inmates in attacking another inmate, prosecutors said.
Firefighters rescued a burglary suspect on California's Central Coast after he became trapped behind a wall for about 12 hours, police said.
A Vallejo man is suspected of killing a woman on May 1 and then shooting a man on Tuesday, before being arrested by officers, police said.
A North Bay man is being held on more than $1 million bail after he was arrested Tuesday in connection with a series of arsons in Sonoma County, authorities said.
Lucas Ye, who is from Mountain View, designed his plushie based on the photographic capture of Apollo 8's view of the Earth. He and his family also traveled to Florida to watch the launch of Artemis II in April.
One person was killed and another person was injured by fallen tree branches in the North Bay over the weekend, as the Bay Area was hit by strong winds.
Authorities in Solano County are searching for a suspect after two people were killed in a shooting in Suisun City on Sunday night.
Gabby Williams knows all about the Bay Area, despite being a Nevada resident. She would travel from Reno to the Bay every spring and summer to play AAU basketball.
The Valkyries assistant coach was a WNBA Champion, All Star, and a Sixth Woman of the Year throughout her career.
Aaron Rodgers says his 22nd season in the NFL will be his last.
The Professional Women's Hockey League (PWHL) announced Tuesday that San Jose has been awarded a team as the growing league expands to 12 teams.
Nolan Arenado hit his seventh career grand slam, Gabriel Moreno added a two-run homer, and the Arizona Diamondbacks defeated the San Francisco Giants 12-2.
A Vallejo man is suspected of killing a woman on May 1 and then shooting a man on Tuesday, before being arrested by officers, police said.
A North Bay man is being held on more than $1 million bail after he was arrested Tuesday in connection with a series of arsons in Sonoma County, authorities said.
A man wanted for murder in New Zealand has been convicted in a shooting that injured a man in East Bay city of Oakley, prosecutors said.
A man convicted in a brutal 2022 attack on a convenience store clerk in Tracy was sentenced to life in prison plus 14 years, prosecutors said Tuesday.
"These subjects did not discriminate in who they hated," said Mark Remily, special agent in charge of the FBI's San Diego Field Office.
Ken Paxton notes that Meta Glasses are able to use cameras, speakers, and other components to capture data, including video and audio recordings and peoples' facial geometry.
California jury dismissed all charges, finding that Musk missed the three-year statute of limitations to file suit.
AI companies are recruiting a wide range of temp workers, from writers to wine enthusiasts, for hourly-paid gigs to help train their language models.
The delegation of business leaders underscores the deep ties many major U.S. companies maintain with China despite years of trade tensions.
Three men from Tennessee have been indicted on federal charges, including attempted kidnapping, in connection with an alleged crime spree targeting cryptocurrency owners in California.
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.
California public health officials said on Wednesday that they have identified a fifth resident who may have been exposed to the Andes hantavirus due to the outbreak on the MV Hondius cruise ship.
Health officials in Napa County are warning the public not to eat wild mushrooms after three people were poisoned.
If approved by voters, "Measure E" would tax single-family homes $192 per year to go towards emergency services, public safety and clean streets. City leaders anticipate that the tax would raise about $34 million per year.
Oakland Mayor Barbara Lee is marking one year in office by touting the city's progress in its homelessness strategy, crime rate, and overall outlook.
Former Cuban leader Raúl Castro was indicted by a U.S. grand jury in connection with the Cuban military's fatal downing of two planes in 1996 — an escalation in the U.S. pressure campaign against the Cuban government.
Barney Frank, a Democrat who represented Massachusetts in Congress for 32 years, has died. He was 86 years old.
The $1.776 billion fund, which is part of the agreement to settle Trump's lawsuit against the IRS and Treasury Dept., is to be used to compensate those who claim that the government weaponized the legal system against them.
Jason Collins, the NBA's first openly gay player, who went on to become a pioneer for inclusion and an ambassador for the league, has died, his family announced Tuesday.
Philz Coffee will once again sport the Pride flag at its cafés after a directive to have them and other flags removed created a backlash.
The Trump administration agreed to restore the Stonewall National Monument's Pride flag in Greenwich Village after it was removed.
Philz Coffee's move to remove the Pride flag and all other flags from their stores is brewing up some strong reaction.
Transgender women athletes are now excluded from women's events at the Olympics after the IOC agreed to a new eligibility policy on Thursday.
Bay Area fans of the K-pop superstar group BTS flocked swarmed Stanford University more than 24 hours before the first of three shows on campus.
City officials in Elk Grove were finalizing preparations on Friday for a visit by country superstar Luke Bryan and an expected attendance of over 20,000 of his fans on Saturday.
For San Francisco-based rapper Aft, stoops were a part of his upbringing in the Fillmore District.
The Library of Congress revealed this year's list of 25 recordings to be preserved for future generations on the National Recording Registry.
Authorities in the East Bay have charged two men for allegedly organizing a sideshow in Oakland that broke out as internet sensation IShowSpeed was visiting the area.
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.
San Francisco first responders held training on how to respond to active shooters.
Claudine Cheng, who began San Francisco's month-long celebration of Asian Pacific heritage in 2005, is still shining her spotlight on the community today. Sharon Chin reports.
Meteorologist Zoe Mintz says the cooldown will continue into the Memorial Day weekend, helped by gusty winds.
Kevin Ko reports on a group participating in Carnaval.
Lee touted her administration's progress a year after being inaugurated as mayor of Oakland. Ryan Yamamoto reports.
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.