Fed hikes interest rates to highest level in more than 20 years
Although inflation has slowed sharply, Fed officials are again tapping the brakes to ensure the economy slows.
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Although inflation has slowed sharply, Fed officials are again tapping the brakes to ensure the economy slows.
Silicon Valley Bank failed because regulators were far too slow to take action, San Francisco Federal Reserve Bank President Mary Daly said Monday in her first extended remarks about the collapse.
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)
As guaranteed in the 14th Amendment, citizenship is granted to "all persons born or naturalized in the United States." But an executive order signed by President Trump seeks to deny birthright citizenship to children born of parents in the country illegally or temporarily.
Jackie Young scored 21 points and A'Ja Wilson added 19 points and nine rebounds to help the Las Vegas Aces cruise to a 92-73 victory over the Golden State Valkyries on Sunday.
As World Cup fever builds toward a July 1 match in Santa Clara, one Milpitas family is already three generations deep in soccer love.
Max Meyer allowed two runs in five innings to win his eighth consecutive decision to start the season and Heriberto Hernández homered as the Miami Marlins beat the San Francisco Giants 6-3 for their seventh straight home victory.
San Francisco celebrated the Juneteenth holiday with a parade and festival along Market Street Saturday morning.
As guaranteed in the 14th Amendment, citizenship is granted to "all persons born or naturalized in the United States." But an executive order signed by President Trump seeks to deny birthright citizenship to children born of parents in the country illegally or temporarily.
Jackie Young scored 21 points and A'Ja Wilson added 19 points and nine rebounds to help the Las Vegas Aces cruise to a 92-73 victory over the Golden State Valkyries on Sunday.
As World Cup fever builds toward a July 1 match in Santa Clara, one Milpitas family is already three generations deep in soccer love.
Max Meyer allowed two runs in five innings to win his eighth consecutive decision to start the season and Heriberto Hernández homered as the Miami Marlins beat the San Francisco Giants 6-3 for their seventh straight home victory.
San Francisco celebrated the Juneteenth holiday with a parade and festival along Market Street Saturday morning.
San Francisco celebrated the Juneteenth holiday with a parade and festival along Market Street Saturday morning.
The deaths of San Francisco arts patrons Judith and Wylie Sheldon are under investigation. Judith was the daughter of Oscar-winning director William Wyler.
A woman and young child were hospitalized following a rescue off Baker Beach in San Francisco on Thursday after they were swept into the ocean.
A man was charged with a homophobic vandalism along with assault and hit-and-run in an attack in San Francisco's Castro District last month, authorities said.
The San Francisco Police Department said an audit of its network of automated license plate reader cameras shows it was improperly accessed by outside agencies.
A search for a suspect wanted in connection with an attempted kidnapping near the Hayward DMV on Friday is underway.
An brush fire in Hayward on Friday afternoon burned some 25 acres before firefighters stopped its progress, authorities said.
Earlier this week, T'Chaka had its door smashed, leaving pieces of glass scattered on the dining room floor. But it didn't take long for the community to respond and help a local business.
A man arrested after a fire at a Berkeley animal shelter was charged with felony arson on Wednesday along with other charges, prosecutors said.
A Contra Costa County Sheriff's deputy has been arrested on multiple felony charges, the Sheriff's Office announced on Wednesday.
As World Cup fever builds toward a July 1 match in Santa Clara, one Milpitas family is already three generations deep in soccer love.
A man was charged with homicide Wednesday after a high-speed police chase that began in Santa Clara and ended in a fatal crash in San Jose, authorities said.
The lawsuit alleges unlawful euthanasia practices, poor animal care and violations of public records laws at the San Jose's animal shelter.
A Peninsula pastor is one of the first in the Bay Area to help provide a safe place for them while they search for housing in expensive Silicon Valley.
A woman died Monday after being stabbed in San Jose home and a man who knew her was arrested in connection with the killing, police said.
A former officer for the California Department of Corrections and Rehabilitation was convicted of child sex crimes in Napa involving three family members after an eight-day trial, prosecutors announced Thursday.
A vehicie struck and killed an elderly pedestrian in Fairfax earlier this week, authorities said.
Around 12:30 p.m., an officer patrolling near the Novato Fair shopping center spotted a man he believed was acting erratically and may be under the influence of drugs, police said.
A deer fawn was rescued on Wednesday from an outdoor wire dog crate at a Sonoma County home, authorities said.
A mountain biker who was injured in a remote Sonoma County trail Wednesday morning was airlifted to safety following a multi-agency rescue, authorities said.
Jackie Young scored 21 points and A'Ja Wilson added 19 points and nine rebounds to help the Las Vegas Aces cruise to a 92-73 victory over the Golden State Valkyries on Sunday.
Max Meyer allowed two runs in five innings to win his eighth consecutive decision to start the season and Heriberto Hernández homered as the Miami Marlins beat the San Francisco Giants 6-3 for their seventh straight home victory.
In front of a roaring Seattle crowd, the U.S. men's soccer team on Friday defeated Australia in its second World Cup match, clinching a spot in the Round of 32 in the process.
The fallout over the opposition by a handful of San Francisco Giants players against the team's Pride Night celebrations has prompted an investigation of Major League Baseball by the Trump administration.
Major League Baseball has warned players about writing on their uniforms after San Francisco starter Landen Roupp and two other pitchers added Bible verses to their Pride Night caps on Friday night.
A search for a suspect wanted in connection with an attempted kidnapping near the Hayward DMV on Friday is underway.
A man was charged with homicide Wednesday after a high-speed police chase that began in Santa Clara and ended in a fatal crash in San Jose, authorities said.
A former officer for the California Department of Corrections and Rehabilitation was convicted of child sex crimes in Napa involving three family members after an eight-day trial, prosecutors announced Thursday.
A man was charged with a homophobic vandalism along with assault and hit-and-run in an attack in San Francisco's Castro District last month, authorities said.
The San Francisco Police Department said an audit of its network of automated license plate reader cameras shows it was improperly accessed by outside agencies.
The recall follows multiple incidents in which Waymo robotaxis drove past ramp-closure signs and into freeway construction zones.
U.K. Prime Minister Keir Starmer hopes to have a ban on kids using social media that is "designed to be addictive" enacted by early next year.
A woman has been found guilty of trespassing and other charges for her role in a protest outside the San Francisco headquarters of OpenAI last year, prosecutors said.
The iPhone was introduced in 2007, the same year the U.S. birth rate started to slide. The issues could be linked, a new analysis finds.
Meta pledged to invest $115 million to train electricians, plumbers and other workers needed to operate data centers.
A Bay Area cancer patient is making more memories and living longer than his initial diagnosis thanks to a groundbreaking treatment for his particularly aggressive form of brain cancer.
Health officials in the San Francisco Bay Area issued a warning about a potential measles exposure after an infected resident traveled through San Francisco International Airport and local businesses.
Health officials in Berkeley said one person died and another person was hospitalized after contracting leptospirosis from rats that had infested their RV.
Grocery sales at two Target stores in San Jose were halted over the past week, after health inspectors found evidence of rodent infestations.
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 federal government awarded a company owned by a Trump donor $1.7 million to install a new water cleaning system for the Lincoln Memorial Reflecting Pool, records show.
The fallout over the opposition by a handful of San Francisco Giants players against the team's Pride Night celebrations has prompted an investigation of Major League Baseball by the Trump administration.
President Trump and Prime Minister Giorgia Meloni traded criticism on Saturday after Italy canceled its envoy's visit to the U.S.
The Justice Department says it's released "every document required by the Epstein Files Transparency Act," but CBS News has identified numerous gaps.
President Trump's efforts to spruce up the Lincoln Memorial Reflecting Pool faced a snag this week, with algae turning the water green while rips appeared in an "American Flag Blue" surface picked by the president.
The fallout over the opposition by a handful of San Francisco Giants players against the team's Pride Night celebrations has prompted an investigation of Major League Baseball by the Trump administration.
Major League Baseball has warned players about writing on their uniforms after San Francisco starter Landen Roupp and two other pitchers added Bible verses to their Pride Night caps on Friday night.
Many LGBTQ+ Pride events across the country have had to scale back or even cancel due to political and financial reasons. San Francisco was on the brink. Kara St. Cyr reports.
In one of the most competitive real estate markets in America, a San Francisco real estate agent dons fabulous drag to help promote homes for sale. Itay Hod reports.
The U.S. Department of Justice has launched an investigation into four California school districts over policies pertaining to the instruction of gender and sexual orientation.
Record producer Tay Keith was found dead in his Nashville home by officers performing a welfare check, police said.
Lionel Messi tied the Men's World Cup goals record with his first World Cup hat trick as Argentina topped Algeria.
Luke Skywalker's lightsaber from the "Star Wars" sequel "The Empire Strikes Back" is expected to sell for at least $1 million at an upcoming auction.
Rio de Janeiro's Military Fire Department said one of the helicopters crashed in the parking lot of a car dealership, where several electric vehicles were parked, igniting a fire.
With matches being played in 11 cities across the U.S., Mexico and Canada, fans are getting three World Cup opening ceremonies.
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.
with Jennifer McDermed
As World Cup fever builds toward a July 1 match in Santa Clara, one Milpitas family is already three generations deep in soccer love.
Here's a look at the weather forecast Saturday afternoon.
San Francisco celebrated the Juneteenth holiday with a parade and festival along Market Street Saturday morning.
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.