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.
The California state senator says it was a Muni ride nearly 30 years ago, and a moment emerging from the Castro Station into the sunlight that made him feel like he finally belonged.
Back in August, the county launched the new SHIFT initiative to tackle the affordable housing crisis. Alameda County awarded Oakland-based company Inspired ADUs to lead the effort of building more affordable homes on infill lots.
Measure W is a half-cent sales tax to support homelessness services, housing, health services, and system infrastructure. It was passed in 2020, but distributing that money was held up by a legal battle.
The nonprofit, which recieved a $42 million donation from philanthropist MacKenzie Scott, began as the Marin Education Fund in 1981.
Elon Musk reached a deal to buy Twitter in April 2022. On May 13, 2022, he declared his plan "temporarily on hold" over the number of spam and fake accounts on the platform. Twitter's stock tumbled as a result.
The California state senator says it was a Muni ride nearly 30 years ago, and a moment emerging from the Castro Station into the sunlight that made him feel like he finally belonged.
Back in August, the county launched the new SHIFT initiative to tackle the affordable housing crisis. Alameda County awarded Oakland-based company Inspired ADUs to lead the effort of building more affordable homes on infill lots.
Measure W is a half-cent sales tax to support homelessness services, housing, health services, and system infrastructure. It was passed in 2020, but distributing that money was held up by a legal battle.
The nonprofit, which recieved a $42 million donation from philanthropist MacKenzie Scott, began as the Marin Education Fund in 1981.
Elon Musk reached a deal to buy Twitter in April 2022. On May 13, 2022, he declared his plan "temporarily on hold" over the number of spam and fake accounts on the platform. Twitter's stock tumbled as a result.
The California state senator says it was a Muni ride nearly 30 years ago, and a moment emerging from the Castro Station into the sunlight that made him feel like he finally belonged.
The nonprofit, which recieved a $42 million donation from philanthropist MacKenzie Scott, began as the Marin Education Fund in 1981.
A man has been arrested and accused of a hate crime after a San Francisco church was vandalized over the weekend, police said.
The number of homeless encampments in San Francisco, along with RVs sheltering the unhoused reached a new low in the latest quarter, Mayor Daniel Lurie's office announced Wednesday.
The daily prompts at the San Francisco grocery store have led to new friendships, and regular customers say they look forward to seeing what the question will be.
Back in August, the county launched the new SHIFT initiative to tackle the affordable housing crisis. Alameda County awarded Oakland-based company Inspired ADUs to lead the effort of building more affordable homes on infill lots.
Measure W is a half-cent sales tax to support homelessness services, housing, health services, and system infrastructure. It was passed in 2020, but distributing that money was held up by a legal battle.
Friday, March 6, marks 100 years since the historic location opened its doors, but they'll be celebrating a little early with free movies on Wednesday.
Former Oakland police chief Floyd Mitchell has been appointed to lead the police department in the city of Fremont.
A person riding on a watercraft at Discovery Bay died on Sunday after it flipped over. The person did not know how to swim and was not wearing a life vest at the time, the sheriff's office said. Two other people on the watercraft were able to swim to safety.
A San Francisco Bay Area woman who was dubbed a "party mom" by prosecutors has been convicted in connection with hosting parties for her teenage son and her friends, in which she encouraged drinking and sexual acts during the pandemic.
Dozens of residents of an apartment complex in the South Bay have been displaced following a fire that began in a carport Monday afternoon.
One of the people at the rally said she believes going to war with Iran could continue to exacerbate socio-economic issues here in the United States.
More than 100 residents of a condominium complex in Santa Clara remain evacuated after structural issues were found in the building over the weekend.
Police in San Jose released body camera footage of a deadly shootout earlier this year involving a man suspected in a lengthy crime spree that included shootings with law enforcement, along with armed robberies and carjackings.
The California Highway Patrol arrested two drivers on Highway 101 in Sonoma County early Monday morning after they allegedly took part in a street race in which a third driver was filming.
Officers arrested a suspect with an outstanding out-of-state murder warrant in Vallejo, police said Friday.
A suspect is accused of animal cruelty after hundreds of birds and evidence consistent with bird fighting were located at a home just outside of Santa Rosa city limits on Wednesday, authorities said.
Authorities in the San Francisco Bay Area have arrested three people from the East Coast on suspicion of identity theft in an alleged bank fraud case, including a woman who was reported missing several months ago.
Police in Vallejo said they arrested a driver on multiple felony charges following a pursuit over the weekend that covered nearly 16 miles.
The San Jose Sharks signed forward Kiefer Sherwood to a five-year, $28.75 million extension six weeks after acquiring him in a trade from Vancouver.
Holtz coached Notre Dame from 1986 to 1996, winning 100 games with the school, including a 12-0 national title-winning season in 1988.
Macklin Celebrini had a goal and three assists, Kiefer Sherwood scored the tiebreaking goal on a power play with 3:26 remaining, and the San Jose Sharks beat the Montreal Canadiens 7-5.
Along with the "True Lies" co-stars, the California Hall of Fame's new inductees will include Olympians Carl Lewis and Janet Evans and Mariachi Reyna de Los Ángeles.
Kawhi Leonard had 23 points, eight rebounds and four assists, and the Los Angeles Clippers erased a 17-point deficit to beat the short-handed Golden State Warriors 114-101.
A San Francisco Bay Area woman who was dubbed a "party mom" by prosecutors has been convicted in connection with hosting parties for her teenage son and her friends, in which she encouraged drinking and sexual acts during the pandemic.
A man has been arrested and accused of a hate crime after a San Francisco church was vandalized over the weekend, police said.
Former Oakland police chief Floyd Mitchell has been appointed to lead the police department in the city of Fremont.
The California Highway Patrol arrested two drivers on Highway 101 in Sonoma County early Monday morning after they allegedly took part in a street race in which a third driver was filming.
A trial has been set in the San Francisco Bay Area for a Florida woman accused of providing a cosmetic injection that killed a woman who was known as a Kim Kardashian lookalike, prosecutors said.
Anthropic CEO Dario Amodei said his company and the Department of Defense "have much more in common than we have differences."
At the meeting, Waymo said there are about 70 dispatchers at a call center in the Philippines to assist cars in the company's global fleet that require human intervention. But on the night of Dec 20, they said the system was simply overwhelmed.
After the Trump administration cut it off, Anthropic CEO Dario Amodei told CBS News in an exclusive interview Friday night he wants to work with the military — but only if it addresses the firm's concerns.
President Trump said he will give federal agencies six months to phase out their use of Anthropic's AI products.
The 20-year-old plaintiff alleges that using YouTube and Instagram from a young age intensified her depression and led to suicidal thoughts.
Tests of dozens of baby formulas by Consumer Reports found that nearly half contained potentially dangerous chemicals.
A trial has been set in the San Francisco Bay Area for a Florida woman accused of providing a cosmetic injection that killed a woman who was known as a Kim Kardashian lookalike, prosecutors said.
USALESS.COM is recalling its Rhino Choco VIP 10X product due to the undeclared presence of Tadalafil, which is the active ingredient in Cialis.
A Santa Clara County resident with measles may have exposed others while dining at a restaurant in Burlingame earlier this week, health officials said.
Multiple elephant seal pups along the Northern California coast have tested positive for the deadly avian influenza, or bird flu, according to new research from the University of California.
The California state senator says it was a Muni ride nearly 30 years ago, and a moment emerging from the Castro Station into the sunlight that made him feel like he finally belonged.
Measure W is a half-cent sales tax to support homelessness services, housing, health services, and system infrastructure. It was passed in 2020, but distributing that money was held up by a legal battle.
Anthropic CEO Dario Amodei said his company and the Department of Defense "have much more in common than we have differences."
The U.S. is "accelerating, not decelerating" war on Iran, Hegseth says, as strikes intensify in the region and reach 1,000 miles away.
California Democrats are showing signs of division as the race to replace Gov. Gavin Newsom grows increasingly crowded ahead of the June primary.
A man has been arrested and accused of a hate crime after a San Francisco church was vandalized over the weekend, police said.
A Yosemite park ranger was fired last year after helping to display a transgender pride flag from El Capitan.
After more than two years of renovations, the historic Castro Theatre is back open for business.
A large Pride flag has been removed from the Stonewall National Monument in Greenwich Village. The National Park Service said it did so under guidance from the federal government.
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.
Friday, March 6, marks 100 years since the historic location opened its doors, but they'll be celebrating a little early with free movies on Wednesday.
Along with the "True Lies" co-stars, the California Hall of Fame's new inductees will include Olympians Carl Lewis and Janet Evans and Mariachi Reyna de Los Ángeles.
The design process for the floats began in November, with a crew of nearly 30 people working to put the final product together.
Organizers of the annual Outside Lands Music Festival at Golden Gate Park in San Francisco announced the lineup for the upcoming 2026 event.
A trial has been set in the San Francisco Bay Area for a Florida woman accused of providing a cosmetic injection that killed a woman who was known as a Kim Kardashian lookalike, prosecutors said.
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.
Sooji Nam reports Alameda County's efforts to build more housing. 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
Sharon Chin reports on 10,000 Degrees, a nonprofit that helps students succeed in higher education. 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
Amanda Hari reports on plans for 10 housing projects in Alameda County. 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
Elon Musk took the stand in a San Francisco courtroom Wednesday in a trial where he is accused of making false statements about Twitter to allegedly drive down the stock price of the social platform before his 2022 purchase.
Santa Clara County District Attorney Jeff Rosen speaks to reports after Shannon O'Connor was found guilty of more than 60 charges for hosting alcohol-fueled sex parties in her Los Gatos home.
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.