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.
A total of 19 people were arrested in separate anti-human trafficking operations conducted by the Oakland Police Department and the Contra Costa Human Trafficking Task Force.
In addition to the market, there's also a restaurant inside. The "Hand Roll Factory" specializes in sushi rolls, rice and sashimi. It's only the second Tokyo Central in Northern California.
Authorities in Monterey County are investigating after a body was found in an agricultural field near Salinas on Wednesday morning.
San Darnold's NFL career had hit rock bottom when he arrived in San Francisco in 2023 after failing at two spots to live up to his high draft billing.
A judge in San Mateo County has set a trial date in early 2027 for the man accused of killing seven farmworkers during a mass shooting in Half Moon Bay.
A total of 19 people were arrested in separate anti-human trafficking operations conducted by the Oakland Police Department and the Contra Costa Human Trafficking Task Force.
In addition to the market, there's also a restaurant inside. The "Hand Roll Factory" specializes in sushi rolls, rice and sashimi. It's only the second Tokyo Central in Northern California.
Authorities in Monterey County are investigating after a body was found in an agricultural field near Salinas on Wednesday morning.
San Darnold's NFL career had hit rock bottom when he arrived in San Francisco in 2023 after failing at two spots to live up to his high draft billing.
A judge in San Mateo County has set a trial date in early 2027 for the man accused of killing seven farmworkers during a mass shooting in Half Moon Bay.
A judge in San Mateo County has set a trial date in early 2027 for the man accused of killing seven farmworkers during a mass shooting in Half Moon Bay.
Voters in San Francisco are set to decide on a proposed charter amendment that would restrict lawmakers to serving two terms for life, following a decision by the Board of Supervisors.
At one Bay Area catering company, a team of 75 chefs is preparing for Super Bowl catering events.
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."
Bay Area Rapid Transit has started offering free Wi-Fi connectivity at some of its busiest train stations ahead of Super Bowl LX-related events, the agency announced.
A total of 19 people were arrested in separate anti-human trafficking operations conducted by the Oakland Police Department and the Contra Costa Human Trafficking Task Force.
In addition to the market, there's also a restaurant inside. The "Hand Roll Factory" specializes in sushi rolls, rice and sashimi. It's only the second Tokyo Central in Northern California.
A person was shot and killed in Fremont on Tuesday afternoon, police said.
A dismembered body was discovered in an industrial area of Oakland over the weekend, authorities said on Monday.
Another swarm of earthquakes centered in San Ramon shook the East Bay on Monday morning, including a 4.2 magnitude quake felt across a wide swath of the Bay Area, authorities said.
Authorities in Monterey County are investigating after a body was found in an agricultural field near Salinas on Wednesday morning.
One city in the Bay Area has been declared the world's absolute worst in the world when it comes to housing affordability for new homebuyers, a new analysis finds.
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."
The driver of a stolen vehicle fleeing from San Jose police officers was killed after losing control and crashing over the weekend, police said Tuesday.
A speech therapist providing in-home care to a toddler in San Jose was arrested after allegedly sexually assaulting the child, police said on Tuesday.
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.
Yountville Commons will be located adjacent to City Hall at the site of the old Yountville Elementary School, which closed in 2000 because there weren't enough children in the town to keep it open. It will include about 120 affordable homes inside a large new public park.
The federal government said that unless homeowners downstream consent to it, the removal of the bridge cannot go forward. Meanwhile, residents opposed to the demolition say it's time to stop trying to fight Mother Nature.
San Darnold's NFL career had hit rock bottom when he arrived in San Francisco in 2023 after failing at two spots to live up to his high draft billing.
San Francisco 49ers All-Pro running back Christian McCaffrey is the USAA 2025 Salute to Service award winner.
American athletes are preparing for the 2026 Milano Cortina Winter Olympics. These are some of the top Team USA competitors to watch.
The Super Bowl LX countdown has the NFL trying to tackle concerns over U.S. Immigration and Customs Enforcement activity around Levi's Stadium.
Tom Brady is not taking sides in Super Bowl LX between his former team, the Patriots, and the Seahawks.
A total of 19 people were arrested in separate anti-human trafficking operations conducted by the Oakland Police Department and the Contra Costa Human Trafficking Task Force.
Authorities in Monterey County are investigating after a body was found in an agricultural field near Salinas on Wednesday morning.
A judge in San Mateo County has set a trial date in early 2027 for the man accused of killing seven farmworkers during a mass shooting in Half Moon Bay.
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.
The bipartisan effort aims to place harsher penalties on first-time offenders and to close a loophole that allowed drunk drivers in deadly crashes to avoid jail time.
"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."
A former Google engineer has been convicted on multiple federal charges for stealing the tech giant's trade secrets on artificial intelligence to benefit Chinese companies he secretly worked for, federal prosecutors said.
The rideshare company is getting into the business of providing real-world driving data to autonomous vehicle developers. Here's why.
Waymo announced Thursday that its robotaxi service is now available to and from San Francisco International Airport, ahead of upcoming major events in the Bay Area including the Super Bowl and World Cup.
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.
The Supreme Court declined to block California's new congressional map that could net Democrats five seats in the upcoming midterm elections.
Voters in San Francisco are set to decide on a proposed charter amendment that would restrict lawmakers to serving two terms for life, following a decision by the Board of Supervisors.
"Right now we have the Wild West. I want to see some rules of the road," said Democratic Sen. Richard Blumenthal.
President Trump is expected to sign an executive order putting JD Vance and Andrew Ferguson in charge of the group.
The Super Bowl LX countdown has the NFL trying to tackle concerns over U.S. Immigration and Customs Enforcement activity around Levi's Stadium.
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.
Many Super Bowl 60 ads are already online, along with teasers for commercials that will be unveiled during the NFL championship on Feb. 8.
NPU Live, the company behind The Midway and Portola Festival, is hosting several concerts and parties in one of the city's unique spaces, Pier 80.
The 2026 Grammy Awards recognized the best of the best in music from last year, with big wins for Kendrick Lamar and Bad Bunny. Here's the full list of winners and nominees.
Complete closure of the performing arts center in Washington, D.C., will start on July 4, Mr. Trump said. It's not yet clear how extensive the changes to the building might be.
Music's biggest night returned Sunday with the 68th annual Grammy Awards. Here is how to watch and stream and what to know.
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.
Devin Fehely reports on artworks focusing on Afrofuturism. 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 the descendants of Piedmont's first Black family suing the city over its actions in ousting the Dearing family in the 1920s. 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 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
Brad Hamilton reports on homeless outreach services in San Francisco in the lead-up to the Super Bowl. 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 State of California has approved using ropeless pop-up traps for crabbers struggling with shortened seasons. Scott Rates reports.
Meteorologist Darren Peck says after some above-average temperatures this week, by the end of the week conditions will become cloudier and cooler.
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.