Americans continue spending as inflation cools
Americans are still spending as inflation has finally shown signs of cooling. Still, there are some troubling economic signs. Mark Strassmann breaks it all down.
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Americans are still spending as inflation has finally shown signs of cooling. Still, there are some troubling economic signs. Mark Strassmann breaks it all down.
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.
Drivers who rely on 19th Avenue in San Francisco should expect delays this Memorial Day weekend, as repaving work will close a section of the roadway.
The additions come after the ouster of dozens of immigration judges across the country by the Trump administration over the past year.
Lee Mendelson Film Productions alleges the U.S. Department of the Interior illegally used the jazzy tunes in social media posts and a video game.
"The Late Show" host Stephen Colbert is marking the end of an iconic late-night franchise on CBS.
The first major step in saving the whales from ship strikes officially launched this week. A group of marine mammal experts gathered in San Francisco to launch Whale Spotter.
Drivers who rely on 19th Avenue in San Francisco should expect delays this Memorial Day weekend, as repaving work will close a section of the roadway.
Lee Mendelson Film Productions alleges the U.S. Department of the Interior illegally used the jazzy tunes in social media posts and a video game.
"The Late Show" host Stephen Colbert is marking the end of an iconic late-night franchise on CBS.
The first major step in saving the whales from ship strikes officially launched this week. A group of marine mammal experts gathered in San Francisco to launch Whale Spotter.
The woman who began San Francisco's month-long celebration of Asian Pacific heritage in 2005 is still shining her spotlight on the community today.
Drivers who rely on 19th Avenue in San Francisco should expect delays this Memorial Day weekend, as repaving work will close a section of the roadway.
The first major step in saving the whales from ship strikes officially launched this week. A group of marine mammal experts gathered in San Francisco to launch Whale Spotter.
The woman who began San Francisco's month-long celebration of Asian Pacific heritage in 2005 is still shining her spotlight on the community today.
The San Francisco Fire Department said crews responded to 22nd and Mission streets for a report of a two-vehicle crash.
Gabby Williams knows all about the Bay Area, despite being a Nevada resident. She would travel from Reno to the Bay every spring and summer to play AAU basketball.
If approved by voters, "Measure E" would tax single-family homes $192 per year to go towards emergency services, public safety and clean streets. City leaders anticipate that the tax would raise about $34 million per year.
Oakland Mayor Barbara Lee is marking one year in office by touting the city's progress in its homelessness strategy, crime rate, and overall outlook.
Gabby Williams knows all about the Bay Area, despite being a Nevada resident. She would travel from Reno to the Bay every spring and summer to play AAU basketball.
Police investigating the death of a person found in waters off Richmond over the weekend now believe the person died after crashing into the bay, authorities said.
A man wanted for murder in New Zealand has been convicted in a shooting that injured a man in East Bay city of Oakley, prosecutors said.
A "boil water" notice was lifted for a Mountain View neighborhood on Tuesday, nearly a month after a water main became contaminated following a construction mishap.
A Salinas police officer has been arrested after being accused of possessing child sexual abuse material, authorities said Tuesday.
The death of an 8-year-old girl in San Jose last week has prompted an investigation by police and the Santa Clara County District Attorney's Office.
A former Santa Clara County jail guard has been sentenced to jail for his role aiding a group of inmates in attacking another inmate, prosecutors said.
Firefighters rescued a burglary suspect on California's Central Coast after he became trapped behind a wall for about 12 hours, police said.
A Vallejo man is suspected of killing a woman on May 1 and then shooting a man on Tuesday, before being arrested by officers, police said.
A North Bay man is being held on more than $1 million bail after he was arrested Tuesday in connection with a series of arsons in Sonoma County, authorities said.
Lucas Ye, who is from Mountain View, designed his plushie based on the photographic capture of Apollo 8's view of the Earth. He and his family also traveled to Florida to watch the launch of Artemis II in April.
One person was killed and another person was injured by fallen tree branches in the North Bay over the weekend, as the Bay Area was hit by strong winds.
Authorities in Solano County are searching for a suspect after two people were killed in a shooting in Suisun City on Sunday night.
Gabby Williams knows all about the Bay Area, despite being a Nevada resident. She would travel from Reno to the Bay every spring and summer to play AAU basketball.
The Valkyries assistant coach was a WNBA Champion, All Star, and a Sixth Woman of the Year throughout her career.
Aaron Rodgers says his 22nd season in the NFL will be his last.
The Professional Women's Hockey League (PWHL) announced Tuesday that San Jose has been awarded a team as the growing league expands to 12 teams.
Nolan Arenado hit his seventh career grand slam, Gabriel Moreno added a two-run homer, and the Arizona Diamondbacks defeated the San Francisco Giants 12-2.
A Vallejo man is suspected of killing a woman on May 1 and then shooting a man on Tuesday, before being arrested by officers, police said.
A North Bay man is being held on more than $1 million bail after he was arrested Tuesday in connection with a series of arsons in Sonoma County, authorities said.
A man wanted for murder in New Zealand has been convicted in a shooting that injured a man in East Bay city of Oakley, prosecutors said.
A man convicted in a brutal 2022 attack on a convenience store clerk in Tracy was sentenced to life in prison plus 14 years, prosecutors said Tuesday.
"These subjects did not discriminate in who they hated," said Mark Remily, special agent in charge of the FBI's San Diego Field Office.
The first major step in saving the whales from ship strikes officially launched this week. A group of marine mammal experts gathered in San Francisco to launch Whale Spotter.
Ken Paxton notes that Meta Glasses are able to use cameras, speakers, and other components to capture data, including video and audio recordings and peoples' facial geometry.
California jury dismissed all charges, finding that Musk missed the three-year statute of limitations to file suit.
AI companies are recruiting a wide range of temp workers, from writers to wine enthusiasts, for hourly-paid gigs to help train their language models.
The delegation of business leaders underscores the deep ties many major U.S. companies maintain with China despite years of trade tensions.
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.
California public health officials said on Wednesday that they have identified a fifth resident who may have been exposed to the Andes hantavirus due to the outbreak on the MV Hondius cruise ship.
Health officials in Napa County are warning the public not to eat wild mushrooms after three people were poisoned.
The additions come after the ouster of dozens of immigration judges across the country by the Trump administration over the past year.
If approved by voters, "Measure E" would tax single-family homes $192 per year to go towards emergency services, public safety and clean streets. City leaders anticipate that the tax would raise about $34 million per year.
Oakland Mayor Barbara Lee is marking one year in office by touting the city's progress in its homelessness strategy, crime rate, and overall outlook.
Former Cuban leader Raúl Castro was indicted by a U.S. grand jury in connection with the Cuban military's fatal downing of two planes in 1996 — an escalation in the U.S. pressure campaign against the Cuban government.
Barney Frank, a Democrat who represented Massachusetts in Congress for 32 years, has died. He was 86 years old.
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.
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.
Lee Mendelson Film Productions alleges the U.S. Department of the Interior illegally used the jazzy tunes in social media posts and a video game.
"The Late Show" host Stephen Colbert is marking the end of an iconic late-night franchise on CBS.
Bay Area fans of the K-pop superstar group BTS flocked swarmed Stanford University more than 24 hours before the first of three shows on campus.
City officials in Elk Grove were finalizing preparations on Friday for a visit by country superstar Luke Bryan and an expected attendance of over 20,000 of his fans on Saturday.
For San Francisco-based rapper Aft, stoops were a part of his upbringing in the Fillmore District.
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.
San Francisco Sheriff Paul Miyamoto talks to CBS News Bay Area reporter Reed Cowan bout increased security at houses of worship in the wake of a deadly shooting at a mosque in San Diego, along with the recent arrests of pickpocketing suspects in San Francisco's Chinatown.
Expect breezy conditions and hot temperatures away from the coast, with highs in 80s and 90s on Thursday. For Memorial Day weekend, a cooldown is expected. Jessica Burch has the forecast.
Andrea Nakano reports on efforts to protect whales in the San Francisco Bay.
San Francisco first responders held training on how to respond to active shooters.
Claudine Cheng, who began San Francisco's month-long celebration of Asian Pacific heritage in 2005, is still shining her spotlight on the community today. Sharon Chin 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.