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 technology uses ultra-low sound waves as a way to extinguish a fire. It was just a theory until 2015, when a pair of students at George Mason University demonstrated the world's first sonic fire extinguisher.
The new Department of Motor Vehicles regulations allow law enforcement agencies to issue notices of traffic violations to autonomous vehicle companies when their cars commit moving violations.
Kids and adults with different abilities are getting to do something that many never thought people - they're playing baseball, thanks to a longtime coach.
A massive sea lion is stealing all the attention at San Francisco's Pier 39, along with most of the dock.
San Francisco police said officers arrested a 22-year-old woman suspected of stabbing someone Tuesday night. According to police, an officer was injured during the incident.
The technology uses ultra-low sound waves as a way to extinguish a fire. It was just a theory until 2015, when a pair of students at George Mason University demonstrated the world's first sonic fire extinguisher.
The new Department of Motor Vehicles regulations allow law enforcement agencies to issue notices of traffic violations to autonomous vehicle companies when their cars commit moving violations.
Kids and adults with different abilities are getting to do something that many never thought people - they're playing baseball, thanks to a longtime coach.
A massive sea lion is stealing all the attention at San Francisco's Pier 39, along with most of the dock.
San Francisco police said officers arrested a 22-year-old woman suspected of stabbing someone Tuesday night. According to police, an officer was injured during the incident.
Kids and adults with different abilities are getting to do something that many never thought people - they're playing baseball, thanks to a longtime coach.
A massive sea lion is stealing all the attention at San Francisco's Pier 39, along with most of the dock.
San Francisco police said officers arrested a 22-year-old woman suspected of stabbing someone Tuesday night. According to police, an officer was injured during the incident.
San Francisco International Airport is joining an increasing number of U.S. airports in allowing visitors to go past security without a booking a flight to join passengers at the gate.
AT&T will install a 104-foot macro cell tower in the heart of the neighborhood, next to the San Francisco police academy, a local playground and nearby homes.
The technology uses ultra-low sound waves as a way to extinguish a fire. It was just a theory until 2015, when a pair of students at George Mason University demonstrated the world's first sonic fire extinguisher.
Authorities in the East Bay said they detained a student at school after recovering a firearm that appeared to have been made by a 3-D printer.
Restorative Pathways acquired the shelter late last year and transformed it into a safe space for families experiencing homelessness, survivors of human trafficking, domestic violence, and transition-aged youth.
A suspect in the shooting death of an Antioch woman in February was arrested in Southern California earlier this month and charged with murder, authorities said on Tuesday.
Oakland San Francisco Bay Airport will be allowed to keep its current name, ending a years-long naming dispute involving San Francisco International Airport.
The fire department said nearby George Mayne Elementary was asked to shelter in place as a precaution, and the fire was under control by 2:45 p.m.
California Attorney General Rob Bonta's office is requesting the state Supreme Court to review a ruling that overturned the conviction of the man found guilty of murdering and kidnapping Sierra LaMar in 2012.
A celebration is planned Wednesday to celebrate the completion of repairs to the Santa Cruz Wharf, nearly 18 months after a portion of the wharf collapsed during a storm.
Several vehicles were impounded and arrests were made in connection with a sideshow in Salinas, police said.
Officials from the Vallejo City Management confirmed there is an active code enforcement case against the property. They said the Indiana Street home received its third citation and added that it is also registered to their vacant property program.
Authorities in Sonoma County are seeking help from the public after a series of copper wire thefts have led to phone and internet service disruptions in the western part of the county.
A rock climber at a remote coastal area in Sonoma County who needed medical assistance after a fall was rescued by a helicopter crew over the weekend, authorities said.
Police in Santa Rosa have arrested a man on multiple felony charges after he allegedly slashed the tires of dozens of vehicles in a neighborhood.
Police are offering a reward for the public's help following an armed robbery and shooting at a Santa Rosa market over the weekend.
A woman who was allegedly driving under the influence crashed into a pond in Santa Rosa last weekend and was arrested following her rescue, authorities said.
Don Mattingly won his first game as Philadelphia's interim manager, leading the Phillies to a 7-0 victory over the San Francisco Giants.
Landen Roupp held Miami to two hits in 7 2/3 innings and Casey Schmitt hit a go-ahead home run for the second straight game as the San Francisco Giants beat the Marlins 6-3.
Casey Schmidt hit a two-run homer, Drew Gilbert and Heliot Ramos added solo shots and the San Francisco Giants beat the Miami Marlins 6-2 on Saturday.
Liam Hicks and Connor Norby each hit home runs as the Miami Marlins defeated the San Francisco Giants 9-4.
The San Francisco 49ers selected wide receiver De'Zhaun Stribling from the University of Mississippi with the top pick of the second round of the NFL Draft on Friday, the 33rd overall pick.
San Francisco police said officers arrested a 22-year-old woman suspected of stabbing someone Tuesday night. According to police, an officer was injured during the incident.
Authorities in Sonoma County are seeking help from the public after a series of copper wire thefts have led to phone and internet service disruptions in the western part of the county.
California Attorney General Rob Bonta's office is requesting the state Supreme Court to review a ruling that overturned the conviction of the man found guilty of murdering and kidnapping Sierra LaMar in 2012.
Authorities in the East Bay said they detained a student at school after recovering a firearm that appeared to have been made by a 3-D printer.
Eugenio Molina-Lopez is accused of heading up a gang that allegedly trafficked U.S.-bound cocaine from South America to Mexican cartels.
The technology uses ultra-low sound waves as a way to extinguish a fire. It was just a theory until 2015, when a pair of students at George Mason University demonstrated the world's first sonic fire extinguisher.
The new Department of Motor Vehicles regulations allow law enforcement agencies to issue notices of traffic violations to autonomous vehicle companies when their cars commit moving violations.
A United Airlines flight from San Francisco reported a close call with a drone as it was approaching to land in San Diego, authorities said.
OpenAI boss Sam Altman recently apologized after a teen who went on to kill eight people was banned from ChatGPT for violent activities but police were never alerted.
Elon Musk, the Tesla CEO, world's richest man and OpenAI's cofounder, took the stand Tuesday in a high-stakes trial revolving around a bitter feud between himself and former friends Sam Altman and Greg Brockman that could reshape the future development of artificial intelligence.
An ice cream company based in the San Francisco Bay Area is recalling dozens of products after they were sold without labels disclosing potentially dangerous allergens.
Health officials in San Francisco announced Wednesday that an infant who recently traveled outside the United States has tested positive for measles.
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 new Department of Motor Vehicles regulations allow law enforcement agencies to issue notices of traffic violations to autonomous vehicle companies when their cars commit moving violations.
The Supreme Court rule 6-3 in a decision that has implications for the scope of the landmark Voting Rights Act.
AT&T will install a 104-foot macro cell tower in the heart of the neighborhood, next to the San Francisco police academy, a local playground and nearby homes.
Top gubernatorial candidates met onstage at the CBS California Governor's Debate on April 28. Here are the highlights.
Former FBI Director James Comey is again facing federal charges after the government's previous case against him was dismissed.
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.
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.
Jake was at the funeral for one of his closest friends when he learned of his parents' deaths, he said.
Michael Tilson Thomas, the 12-time Grammy Award winning composer and famed conductor who led the San Francisco Symphony for a quarter century, has died.
Pop star Britney Spears has voluntarily checked into rehab following her DUI arrest in Ventura County in March, a representative for the singer told CBS LA.
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.
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.
John Ramos reports on technology that uses soundwaves to put out fires.
UC Santa Cruz political analyst Nolan Higdon provides some takeaways from the spirited California governor's debate at Pomona College.
Gary Morton runs the San Francisco Peninsula chapter of The Miracle League, a nonprofit that brings the game of baseball to people with developmental and physical disabilities. Sharon Chin reports.
Meteorologist Zoe Mintz says warmer and sunnier conditions are sticking around until at least early next week.
Kenny Choi reports on new DMV rules that allow officers to ticket driverless vehicles.
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.