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.
With inflation finally falling from last year's record highs, the Federal Reserve declined to raise key interest rates for the first time in 15 months. Natalie Brand reports on how the move will affect consumers and whether we could see more rate hikes in the future.
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.
Latest hike brings the U.S central bank's benchmark interest rate to its highest level in 16 years.
FDIC Chairman Martin Gruenberg estimated about $20 billion would be needed to cover the collapse of Silicon Valley Bank.
Credit card debt among Americans is nearing the trillion-dollar mark. And with the recent interest rate hike, Americans can look forward to higher interest rates. Tanya Rivero has the latest.
The U.S. central bank eases up its efforts to curb inflation amid concerns about banking industry risks.
The Federal Reserve is facing stinging criticism for missing what observers say were clear signs that Silicon Valley Bank was at high risk of collapsing into the second-largest bank failure in U.S. history.
After last week's collapse of Silicon Valley Bank, President Joe Biden urged calm and said there would be accountability. Meanwhile, account holders lined up at bank headquarters to withdraw their money after the federal government guaranteed deposits. Nicole D'Antonio and Devin Fehely reports. (3/13/23)
Rates are at their highest level in 15 years as policymakers try to tamp down inflation without torpedoing the economy.
Latest jump is the fourth supersized rate hike this year, as the central bank tries to subdue stubbornly high inflation.
Jill Schlesinger reports on the impacts of the latest interest rate hike by the Fed on consumers (9-22-2022)
Naomi Ruchim reports on effort by Feds to curb inflation by hiking interest rates (9-21-2022)
Borrowing costs rose to their highest level in 14 years, and more interest-rate hikes are likely, Fed signaled.
The Federal Reserve, as expected, announced it is raising interest rates by three-quarters of a percentage point to help tamp down inflation. CBS News' Tanya Rivero and Christina Ruffini get analysis of the economic and political impact from Ted Rossman, senior industry analyst at Bankrate.com; CBS News political correspondent Caitlin Huey-Burns; and Michelle Singletary, Washington Post personal finance columnist.
The rise in the federal funds rate, which is what banks charge each other for overnight loans, comes as several significant pieces of economic data are released this week.
CBS News business analyst Jill Schlesinger talks about impact the Federal Reserve's .75% interest rate hike will have (6-16-2022)
The Federal Reserve made its most aggressive move yet to tamp down inflation Wednesday, by raising the interest rate by three-quarters of a percentage point.
The Federal Reserve made its most aggressive move yet to tamp down inflation Wednesday, by raising the interest rate by three-quarters of a percentage point. Andrea Nakano reports. (6/15/22)
For anyone used to the Bay Area housing market being white hot, the idea of a buyer's market is unfathomable. But with interest rates rising and more homes coming online, a cool-off might be underway.
"Inflation is much too high," Fed Chair Jay Powell said of the U.S. central bank's largest rate hike since 1994.
Skyler Henry reports on how the hike in a key interest rate will combat inflation (6-15-2022)
The Federal Reserve announced it is raising interest rates on Wednesday — a move to combat soaring inflation as the U.S. comes out of the pandemic and economic uncertainty in the wake of Russia's invasion of Ukraine.
So far this year, the federal government has spent more than $3.5 trillion on COVID-19 relief and that's before this latest stimulus package was approved. So where is all that money coming from? The answer is: our children.
The Federal Reserve is temporarily letting Wells Fargo out of the penalty box.
One of the suggestions is the complete renovation of the Canal District shoreline, removing about 550 existing homes and raising the land high enough to safely redevelop on top of it. It is projected to cost nearly $2 billion.
The legacy of the Black Panther Party, founded in Oakland in 1966 to protect the Black community while demanding freedom and justice, lives on through an award-winning walking tour.
As the deadline approaches for Gov. Gavin Newsom's executive order mandating California state workers return to in-person work four days a week, there is a new bipartisan effort to change state law and allow the current telework structure to continue.
San Francisco 49ers defensive lineman Keion White was shot and injured early Monday morning in San Francisco, the team confirmed.
According to the DOJ, Tillman said he set fire to the U.S. Post Office in San Jose to "make a point to the United States Government."
One of the suggestions is the complete renovation of the Canal District shoreline, removing about 550 existing homes and raising the land high enough to safely redevelop on top of it. It is projected to cost nearly $2 billion.
The legacy of the Black Panther Party, founded in Oakland in 1966 to protect the Black community while demanding freedom and justice, lives on through an award-winning walking tour.
San Francisco 49ers defensive lineman Keion White was shot and injured early Monday morning in San Francisco, the team confirmed.
According to the DOJ, Tillman said he set fire to the U.S. Post Office in San Jose to "make a point to the United States Government."
Teachers in the San Francisco Unified School District began striking Monday after the union and district were not able to reach a deal over the weekend.
Teachers in the San Francisco Unified School District began striking Monday after the union and district were not able to reach a deal over the weekend.
An accident involving a cable car in San Francisco on Monday left several passengers with minor injuries, authorities said.
World-class chefs, players, and fans united Saturday to tackle a common opponent: hunger.
San Francisco Unified School District officials and the union representing roughly 6,000 educators could not come to an agreement on some major items in an effort to avert a strike that will disrupt learning for tens of thousands of students across the city.
In San Francisco on Saturday, a small group gathered for a city hall march to offer their support for billionaires. It drew a crowd of media and opponents and quickly became a spectacle that focused more on satire than substance.
The legacy of the Black Panther Party, founded in Oakland in 1966 to protect the Black community while demanding freedom and justice, lives on through an award-winning walking tour.
A man who was arrested for allegedly refusing to leave an East Bay casino later died in custody after experiencing an unknown medical emergency, police said.
The Henry J. Kaiser Center for the Arts was filled with sports fans for one of the biggest games of the year, the Super Bowl.
On Sunday, after more than a year, EBMUD began inviting boats back to the water, but they're being very careful about it.
Three men charged in the 2021 fatal shooting in Oakland of retired Bay Area police Sergeant Kevin Nishita have pleaded no contest ahead of a murder trial, prosecutors announced Friday.
According to the DOJ, Tillman said he set fire to the U.S. Post Office in San Jose to "make a point to the United States Government."
Authorities are searching for a suspect after a woman was killed in by a hit-and-run driver in San Jose over the weekend.
Six people were rescued after their boat capsized in heavy surf off the coast of Santa Cruz over the weekend, officials said.
At least five people were hospitalized after a shooting in downtown San Jose that took place following the Super Bowl late Sunday night.
Police said officers arrived at the scene and found two men who had been shot at least once. Both died at the scene.
One of the suggestions is the complete renovation of the Canal District shoreline, removing about 550 existing homes and raising the land high enough to safely redevelop on top of it. It is projected to cost nearly $2 billion.
A bank employee was among three people arrested in a series of armed home invasion robberies in Marin County of people who had withdrawn large amounts of cash, authorities said.
A man who was arrested on child sexual abuse charges in Illinois is facing additional charges in the San Francisco Bay Area in connection with the alleged sexual assault of a child, police said.
Four suspects remain at large and two were arrested after an armed robbery at a Petaluma jewelry store on Saturday, police said.
A Bay Area environmental group is pushing for more restrictions and protection at one of the largest shale reefs in North America. As part of its proposal to the state, all fishing would be banned.
San Francisco 49ers defensive lineman Keion White was shot and injured early Monday morning in San Francisco, the team confirmed.
Puerto Rican superstar Bad Bunny, born Benito Antonio Martínez Ocasio, is one of the most-streamed artists on the planet.
Google and Pepsi were among the best ads of the Big Game, while Coinbase and ai.com got failing grades, according to one ranking.
When a fan ran onto the field during the Super Bowl, Patriots player Kyle Williams ran to track him down.
The 31-year-old Puerto Rican artist Bad Bunny took the stage on Sunday dressed in all white, donning a jersey with his last name, Ocasio, and the number 64.
San Francisco 49ers defensive lineman Keion White was shot and injured early Monday morning in San Francisco, the team confirmed.
According to the DOJ, Tillman said he set fire to the U.S. Post Office in San Jose to "make a point to the United States Government."
Authorities are searching for a suspect after a woman was killed in by a hit-and-run driver in San Jose over the weekend.
A fatal shooting in San Leandro early Monday morning involving Alameda County Sheriff's deputies was being investigated by the California Department of Justice, state Attorney General Rob Bonta announced.
At least five people were hospitalized after a shooting in downtown San Jose that took place following the Super Bowl late Sunday night.
ChatGPT will clearly distinguish between ads and answers to user prompts on the AI platform, according to OpenAI.
A Bay Area woman with a long list of accomplishments in her young life, including being recently named to Forbes' 30 Under 30 list, has created an AI tool to help families do better financial planning.
The FAA says it is collaborating with the FBI to detect, track and assess unauthorized drone activity at the Super Bowl.
"Right now we have the Wild West. I want to see some rules of the road," said Democratic Sen. Richard Blumenthal.
The Northern California Regional Intelligence Center said suspicious conduct or criminal activity flagged by law enforcement will be entered into its database, where it "can link the locations to the information and really tie it all together in near-real time."
Health officials in the East Bay said a man has died from consuming toxic wild mushrooms, amid an ongoing spike in mushroom-related poisonings throughout California.
Health officials in Napa County confirmed Wednesday that a child has been diagnosed with measles in the county's first case in nearly 15 years.
Over the years, Dr. Rachel Forer has found plenty of ways to take the sting out of going to the dentist. But no matter how hard she tried, fear had a way of creeping in.
Officials in San Mateo County are the latest in the Bay Area to warn residents to not forage for wild mushrooms, amid a rise in mushroom poisonings that have led to illnesses and even deaths.
The Bay Area's Spare the Air alert has been extended to at least Saturday as a high-pressure system is expected to hang around and impact air quality.
One of the suggestions is the complete renovation of the Canal District shoreline, removing about 550 existing homes and raising the land high enough to safely redevelop on top of it. It is projected to cost nearly $2 billion.
As the deadline approaches for Gov. Gavin Newsom's executive order mandating California state workers return to in-person work four days a week, there is a new bipartisan effort to change state law and allow the current telework structure to continue.
Ghislaine Maxwell's lawyer said she would be willing to cooperate with a House panel's probe if President Trump grants her clemency, and would testify that he is "innocent of any wrongdoing."
The official DHS statistics, which had not been previously reported, provide the most detailed look yet into who ICE has arrested during the Trump administration's crackdown.
The footage is included in a video that promotes false claims that the 2020 presidential election was rigged against Mr. Trump.
The billionaire and philanthropist MacKenzie Scott donated $45 million to The Trevor Project, a nonprofit focused on suicide prevention and advocacy for LGBTQ young people.
Oasis nightclub announced plans to close six months ago. New Year's Eve was slated for the final performance. A last-minute, multi-million dollar donation turned the final curtain call into an encore performance.
A 16-year FBI employee has filed a lawsuit alleging he was fired last month because he had a Pride flag displayed near his desk.
A group of transgender members of the U.S. Air Force and Space Force forced to leave active duty under the Trump administration's policies say their benefits were revoked in a rare move.
California state Sen. Scott Wiener of San Francisco announced Wednesday that he is running for Nancy Pelosi's congressional seat next year.
Puerto Rican superstar Bad Bunny, born Benito Antonio Martínez Ocasio, is one of the most-streamed artists on the planet.
The 31-year-old Puerto Rican artist Bad Bunny took the stage on Sunday dressed in all white, donning a jersey with his last name, Ocasio, and the number 64.
Brad Arnold, the founder and lead singer of the 3 Doors Down has died following "his courageous battle with cancer," the rock band announced Saturday on social media.
Bad Bunny took the stage at halftime for the 2026 Super Bowl. Here's who else performed at Super Bowl 60.
Don't miss the 2026 Winter Olympics opening ceremony. Here's how to watch live, stream for free and catch replays.
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.
Amanda Hari reports on ongoing strike in the San Francisco Unified School District . Website: http://kpix.com/ YouTube: http://www.youtube.com/CBSSanFrancisco Facebook: https://www.facebook.com/CBSSanFrancisco Instagram: https://www.instagram.com/kpixtv/ Twitter: https://twitter.com/KPIXtv
John Ramos reports on a study that presented the city of San Rafael with options on how to protect the Canal District from flooding. Website: http://kpix.com/ YouTube: http://www.youtube.com/CBSSanFrancisco Facebook: https://www.facebook.com/CBSSanFrancisco Instagram: https://www.instagram.com/kpixtv/ Twitter: https://twitter.com/KPIXtv
Kelsi Thorud reports on Rock Band Land hosting daily camps to help parents with child care. Website: http://kpix.com/ YouTube: http://www.youtube.com/CBSSanFrancisco Facebook: https://www.facebook.com/CBSSanFrancisco Instagram: https://www.instagram.com/kpixtv/ Twitter: https://twitter.com/KPIXtv
The legacy of the Black Panther Party, founded in Oakland in 1966, lives on in an award-winning walking tour honoring a movement that changed a nation. Mary Lee reports.
As educators on Monday begin the first teacher strike in decades in San Francisco, other Bay Area school districts are also seeing the decline in enrollment that is exacerbating the budget and standoff. Lauren Toms reports on the bigger budget picture and how it trickles down to the classroom.
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.