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.
Watch CBS News
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.
A woman died after a man allegedly stabbed her in a North San Jose apartment building late Thursday night, authorities said.
The driver of a stolen vehicle was arrested after hitting and killing a bicyclist in San Jose this week, police said Friday.
One person died and four others were hospitalized in a fiery San Francisco crash involving a vehicle flying off an overpass onto Interstate Highway 280, authorities said.
A federal judge denied a last-minute attempt by the Trump administration to stop the removal of President Trump's name from the Kennedy Center.
Two police officers and a theft suspect they were chasing in San Francisco were struck by a passing vehicle Friday morning, leaving the suspect dead both officers injured.
A woman died after a man allegedly stabbed her in a North San Jose apartment building late Thursday night, authorities said.
The driver of a stolen vehicle was arrested after hitting and killing a bicyclist in San Jose this week, police said Friday.
One person died and four others were hospitalized in a fiery San Francisco crash involving a vehicle flying off an overpass onto Interstate Highway 280, authorities said.
A federal judge denied a last-minute attempt by the Trump administration to stop the removal of President Trump's name from the Kennedy Center.
Two police officers and a theft suspect they were chasing in San Francisco were struck by a passing vehicle Friday morning, leaving the suspect dead both officers injured.
One person died and four others were hospitalized in a fiery San Francisco crash involving a vehicle flying off an overpass onto Interstate Highway 280, authorities said.
Two police officers and a theft suspect they were chasing in San Francisco were struck by a passing vehicle Friday morning, leaving the suspect dead both officers injured.
Used clothing is getting a new makeover inside San Francisco public libraries and avoiding the landfill as part of a unique collaboration between city departments and a local nonprofit.
Two teenagers were arrested in San Francisco last month after they allegedly robbed a man while he was attempting to sell his collection of Pokémon cards, authorities said.
A gray whale found in San Francisco Bay last week is believed to have been killed in a vessel strike, scientists said Thursday
On opening day, the Oakland Athletic Club had to turn people away as fans packed the restaurant for the Mexico and South Africa match.
Private foundation investment will fund cameras, drones and outreach, but others say the city must first make legal disposal easier for renters in large apartment complexes.
A group of East Bay engineering students have created a pleasant way to be a part of the World Cup celebrations in the Bay Area.
Health officials in Berkeley said one person died and another person was hospitalized after contracting leptospirosis from rats that had infested their RV.
A 10-year-old girl's quick action likely saved the lives of her family members in Oakley when their house caught on fire early Wednesday morning.
A woman died after a man allegedly stabbed her in a North San Jose apartment building late Thursday night, authorities said.
The driver of a stolen vehicle was arrested after hitting and killing a bicyclist in San Jose this week, police said Friday.
Two people were rescued from the water at a Santa Cruz County beach on Wednesday afternoon, authorities said.
Retired San Jose Police Officer Gil Zamora doesn't work with a microscope. He draws critical evidence from the memories of witnesses.
Officers were called just before 1 p.m. and told a body had been found at the waste facility located on the 700 block of Los Esteros Road.
A deer fawn was rescued on Wednesday from an outdoor wire dog crate at a Sonoma County home, authorities said.
A mountain biker who was injured in a remote Sonoma County trail Wednesday morning was airlifted to safety following a multi-agency rescue, authorities said.
The warning covers parts of the East Bay hills and the North Bay interior mountains, and begins at 11 p.m. Wednesday.
On Sunday, marchers began the second part of a three-day journey protesting U.S. Immigration and Customs Enforcement's presence in the Bay Area.
Students, teachers and staff shared hugs, high fives and tears this week as two longtime Santa Rosa schools closed their doors for the final time.
The 2026 FIFA World Cup opening ceremony festivities got underway a little over an hour before the first kickoff in Mexico City's Estadio Azteca.
With matches being played in 11 cities across the U.S., Mexico and Canada, fans are getting three World Cup opening ceremonies.
The U.S. men's national soccer team kicks off its 2026 FIFA World Cup campaign against Paraguay at SoFi Stadium on Friday.
Bryce Eldridge hit a game-winning grand slam in the ninth to cap an incredible comeback by the San Francisco Giants, who scored 10 runs over the final two innings of an 11-10 victory against the Washington Nationals.
The U.S. Embassy said Americans traveling to Mexico for the World Cup should look at advisories for the region they will be visiting.
A woman died after a man allegedly stabbed her in a North San Jose apartment building late Thursday night, authorities said.
The driver of a stolen vehicle was arrested after hitting and killing a bicyclist in San Jose this week, police said Friday.
Two police officers and a theft suspect they were chasing in San Francisco were struck by a passing vehicle Friday morning, leaving the suspect dead both officers injured.
Two teenagers were arrested in San Francisco last month after they allegedly robbed a man while he was attempting to sell his collection of Pokémon cards, authorities said.
Retired San Jose Police Officer Gil Zamora doesn't work with a microscope. He draws critical evidence from the memories of witnesses.
A woman has been found guilty of trespassing and other charges for her role in a protest outside the San Francisco headquarters of OpenAI last year, prosecutors said.
The iPhone was introduced in 2007, the same year the U.S. birth rate started to slide. The issues could be linked, a new analysis finds.
Meta pledged to invest $115 million to train electricians, plumbers and other workers needed to operate data centers.
SpaceX is setting aside a large chunk of shares for ordinary investors as it seeks to raise a record $75 billion. Here's what to know.
Authorities on California's Central Coast arrested two people Sunday suspected of vandalizing robots performing assessments on sidewalks last week.
Health officials in Berkeley said one person died and another person was hospitalized after contracting leptospirosis from rats that had infested their RV.
Grocery sales at two Target stores in San Jose were halted over the past week, after health inspectors found evidence of rodent infestations.
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.
A federal judge denied a last-minute attempt by the Trump administration to stop the removal of President Trump's name from the Kennedy Center.
The Trump administration deported a group of roughly 20 migrants from Afghanistan, Iran and other nations to the Central African Republic, one of the world's poorest countries.
A federal judge continued to block the Justice Department's $1.8 billion "anti-weaponization" fund, expressing skepticism with the administration's claims that the program is not moving forward.
Voters in California may decide this fall on a proposal that would make tax increases on high-income earners to fund education permanent, officials said.
Multiple floors of the Pentagon were locked down for several hours Thursday morning and hazmat crews were deployed for what authorities had described as a "hazardous materials incident."
Many LGBTQ+ Pride events across the country have had to scale back or even cancel due to political and financial reasons. San Francisco was on the brink. Kara St. Cyr reports.
In one of the most competitive real estate markets in America, a San Francisco real estate agent dons fabulous drag to help promote homes for sale. Itay Hod reports.
The U.S. Department of Justice has launched an investigation into four California school districts over policies pertaining to the instruction of gender and sexual orientation.
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.
With matches being played in 11 cities across the U.S., Mexico and Canada, fans are getting three World Cup opening ceremonies.
A gaming store in San Francisco keeps getting broken into, leading to loss after loss and a mountain of anxiety for the woman behind the business.
A fixture on San Francisco's drag scene, Katya Smirnoff-Skyy has taken her act off the stage and onto the market. With more than 200,000 followers, her house tour videos have become must-see real estate TV: part open house, part one-woman show.
San Pedro Street is being transformed into a massive outdoor viewing party, with organizers hoping global soccer fans will linger — and spend — in a corridor still recovering from the pandemic.
"Schmigadoon!" — which was tied for the most nominations, with 12 — won Best Musical, and "Liberation" took home the honor of Best Play at the 2026 Tony Awards.
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.
One person has died in San Francisco after the car they were in flew off the 18th Street overpass onto the 280 freeway and caught fire.
Two police officers and a theft suspect they were chasing in San Francisco were struck by a passing vehicle Friday morning, leaving the suspect dead both officers injured.
A vehicle struck a two police officers and a fleeing suspect in San Francisco's Nob Hill neighborhood on Friday morning, killing the suspect and injuring the officers.
Meteorologist Jessica Burch says daytime highs will cool down by this weekend, although will remain above average.
Andrea Nakano 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.