Here's what to know about the Fed's first rate meeting of 2024
The Federal Reserve kept its benchmark rate steady at its first meeting of 2024. Here's what it means for your money.
Interest Rates
U.S. economy sees faster-than-expected growth
The U.S. economy ended 2023 with stronger than expected growth, the Commerce Department reported Thursday. However, it's been a tale of two economies for many Americans. Nikki Battiste explains.
Rents fall nationwide for third straight month as demand cools
Rent across the U.S. is dipping as vacancies rise and property managers struggle to fill homes, new data shows.
Economy outgrew expectations in 4th quarter
The U.S. GDP grew at a faster rate than expected in the fourth quarter of 2023, increasing at a 3.3% annualized rate. CBS News business analyst Jill Schlesinger has more on the numbers, as well as possible changes to the child tax credit.
1 in 3 Americans have more credit card debt than emergency savings
If faced with a sudden loss of income, more than half of Americans say they worry they wouldn't have enough savings to cover a month's living expenses.
S&P 500 notches first record high in two years in tech-driven run
Wall Street ended the week with stocks at all-time highs, bolstered by investor expectations of Federal Reserve interest rates cuts.
Inflation cools but monthly expenses rise
Inflation has cooled from the high levels seen in 2022, but monthly necessities like rent and auto insurance have skyrocketed this year. CBS News' Jo Ling Kent has more on the rise in costs and what that means for the economy.
Inflation uptick reflects U.S. economic struggles
Inflation grew at an annual rate of 3.4% in December, higher than economists had predicted. The increase could impact whether the Federal Reserve chooses to lower interest rates. Higher prices and mortgage rates have also left many Americans struggling. Jo Ling Kent has more.
Mortgage rates expected to fall in 2024
Some financial experts expect mortgage rates to decline gradually over the coming months. Mark Hamrick, a senior economic analyst for Bankrate, joins CBS News with the data behind this projection.
Commercial Real Estate | Sunday on 60 Minutes
As occupancy rates have hit historic lows and interest rates have spiked, the value of office buildings is tanking. This Sunday, Jon Wertheim looks at the crisis in commercial real estate.
What to expect from the economy in 2024
The Federal Reserve has signaled it may cut interest rates in 2024 as inflation cools. CBS News contributor Javier David breaks down how likely those cuts may be.
2023 a mixed bag for Wall Street, U.S. economy
It has been a blockbuster year for investors, with the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite all up with double-digit gains. However, the Federal Reserve battled the worst inflation in decades with several rate hikes, and 2023 marked the worst banking crisis since 2008, with three major institutions collapsing. Astrid Martinez reports.
How the U.S. avoided a recession in 2023
Many experts predicted the U.S. would fall into a recession in 2023, mostly due to the Federal Reserve's interest rate hikes. The nation's economy is instead closing the year on a high note. CBS News senior business and tech correspondent Jo Ling Kent examines why.
Shoppers opened their wallets this holiday, defying fears of pullback
U.S. economy continues to plow ahead, as holiday shoppers shell out more on gifts this year than predicted.
Biggest financial stories heading into 2024
Concerns over inflation and a potential recession drove economic headlines in 2023, but new data shows consumer confidence is at a five-month high as we head into the new year. Javier David, CBS News contributor and a managing editor of business and markets at Axios, has a look at the economic outlook for 2024.
Mortgage rates starting to slowly drop
Sky-high mortgage rates that scared off some potential home-buyers this year are slowly starting to drop. Rates are now at their lowest level since June after hitting a 23-year high in October. Greg McBride, chief financial analyst at Bankrate, joined CBS News to discuss how much lower rates might go.
Fed leaves interest rates unchanged
The Federal Reserve will hold its benchmark interest rate steady. CBS News business analyst Jill Schlesinger and J.D. Durkin, a CBS News contributor and host of the financial news website TheStreet, look at the implications.
How high interest rates hurt tech startups
Tech startups faced closures and layoffs in 2023 as the Federal Reserve raised interest rates to a 22-year high. New York Times reporter Erin Griffith joins CBS News to explain what's going on in Silicon Valley.
Dow surges after Fed keeps rates unchanged
The Dow soared more than 500 points on Wednesday, closing over 37,000 for the first time. The surge came after the Federal Reserve said it is keeping interest rates unchanged for the third time in a row. Gregory Daco, chief economist at Ernst and Young, joins CBS News to unpack the Fed's decision.
Fed rate hikes are over, economists say. Here's the impact on your money.
The central bank has pushed pause after 11 straight interest-rate hikes. Here are steps to take with your money now.
Fed leaves interest rate unchanged, but hints at cuts for 2024
In its last rate decision of 2023, the central bank said it is holding its benchmark rate steady amid cooling inflation.
Federal Reserve to decide on interest rates
The Federal Reserve on Wednesday will announce another decision on interest rates with the expectation it will not raise or cut them. CBS News contributor and Axios' managing editor of business and markets Javier David joins CBS News with his analysis.
Fed unlikely to raise interest rates
Wholesale inflation remained unchanged in November after Dow Jones economists predicted a tenth of a percentage point increase. Lori Bettinger, the president of BancAlliance and former director of the Troubled Asset Relief Program, joined CBS News to discuss what the new numbers could mean for interest rates.
Jill Schlesinger on inflation, interest rates
CBS News business analyst Jill Schlesinger joins "CBS Mornings" to discuss the latest Consumer Price Index report, which shows inflation slowing. Plus, what to expect on interest rates from the final Federal Reserve meeting of the year.
Inflation holds steady in latest CPI report
Consumer prices crept up a tenth of a percent in November as the cost of certain goods and services rose last month while energy and gas prices saw a decline. CBS News senior business and technology correspondent Jo Ling Kent has more.
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