U.S. releases latest report on personal income and spending
CBS News Business Analyst Jill Schlesinger walks us through the results and explains why the Federal Reserve prefers this report, when it comes to inflation.
CBS News Business Analyst Jill Schlesinger walks us through the results and explains why the Federal Reserve prefers this report, when it comes to inflation.
The average American carries an estimated $6,000 in debt, but Rachel Lauren, founder of Debbie app, says there are ways to dig out.
A decision on interest rates could be announced today as the Fed wraps up its first meeting of the new year.
Wall Street ended the week with stocks at all-time highs, bolstered by investor expectations of Federal Reserve interest rates cuts.
The Federal Reserve has decided to leave interest rates unchanged for now, but there's potential relief for borrowers -- rate cuts could come in the new year. CBS New York's Dick Brennan has more on Wednesday's announcement. Read more: https://cbsloc.al/48cKhnO
Stocks jump after Federal Reserve officials signal they're ready to push down borrowing costs as inflation continues to cool.
In its last rate decision of 2023, the central bank said it is holding its benchmark rate steady amid cooling inflation.
We ask CBS News Business Analyst Jill Schlesinger to break it all down for us.
We hear from CBS News Business Analyst Jill Schlesinger for a look at where the economy stands.
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
Latest hike brings the U.S central bank's benchmark interest rate to its highest level in 16 years.
Central bank officials will announce on Wednesday if they are hiking the federal funds rate for a 10th consecutive time.
The regional lender, whose collapse is the second-biggest bank failure in U.S. history, is the third bank to be seized by regulators since March.
The U.S. central bank eases up its efforts to curb inflation amid concerns about banking industry risks.
The Federal Reserve will announce Wednesday whether interest rates are going up again. We hear from CBS News Business Analyst Jill Schlesinger for what to expect.
All deposit accounts at Silicon Valley Bank and Signature Bank in New York will be guaranteed, the Federal Reserve, Treasury Dept. and FDIC said in a joint statement.
While the central bank is slowing its rate increases, Jerome Powell told investors not to expect lower rates this year.
If Congress doesn't act, financial experts warn interest rates could go up on loans and mortgages, and the stock market could be in for another bumpy ride.
A slight decrease is expected, but it will still be a long way from the feds goal of 2%. CBS2's John Dias has the details.
Latest jump is the fourth supersized rate hike this year, as the central bank tries to subdue stubbornly high inflation.
The central bank said it is boosting rates by 0.75 percentage point. Expect to pay more for credit card debt and loans.
The economy shrank again in the second quarter, fueling debate about whether or not the country is in a recession. CBS News reports.
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 move is meant to curb historically high inflation.
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.
A group of minority developers is leading a $166 million project to renovate three NYCHA buildings in Washington Heights.
There was an explosion of emotions when the Columbia Lions found out they were headed into March Madness for the first time in program history.
Police shot and killed a man who officers said was walking around and shooting at people in East Flatbush.
Only a few more than 80 licensed stores have opened since the law was signed three years ago, while there are thousands of illegal cannabis shops operating.
The Israeli restaurant on the Upper West Side was filled with longtime customers, politicians and community leaders in a show of solidarity after it was targeted by vandals.
A group of minority developers is leading a $166 million project to renovate three NYCHA buildings in Washington Heights.
There was an explosion of emotions when the Columbia Lions found out they were headed into March Madness for the first time in program history.
Police shot and killed a man who officers said was walking around and shooting at people in East Flatbush.
Only a few more than 80 licensed stores have opened since the law was signed three years ago, while there are thousands of illegal cannabis shops operating.
The Israeli restaurant on the Upper West Side was filled with longtime customers, politicians and community leaders in a show of solidarity after it was targeted by vandals.
Sun will mix with clouds today, as it's breezy and much cooler than yesterday. Highs only around 50.
Today will be our last day of spring-like warmth for a while, with temperatures reaching the low 60s.
Highs will be well above average Saturday and could top out in the low 60s - a great day for the NYC St. Patrick's Day Parade!
We'll see isolated showers on and off today, while temperatures stay mild with highs in the 60s.
Today will be mostly sunny and warmer than yesterday, with highs around 70 for an early taste of May.
It comes just after a $54 million increase in state aid.
Sun will mix with clouds today, as it's breezy and much cooler than yesterday. Highs only around 50.
Rick Pitino on being left out: "We're not going to gripe. We're not gonna say we got screwed. None of that helps."
Today will be our last day of spring-like warmth for a while, with temperatures reaching the low 60s.
Officials said the roof collapsed on top of the firefighters working inside the structure on Grand Street.
Jenner, who won the 1976 Olympic men's decathlon before coming out as transgender, said the future of sports is at stake.
Authorities say Amanda Wallace was caught stealing beauty products from a CVS in Lindenhurst.
Today will be our last day of spring-like warmth for a while, with temperatures reaching the low 60s.
Highs will be well above average Saturday and could top out in the low 60s - a great day for the NYC St. Patrick's Day Parade!
The now-24-year-old has started to move on with her life, but her family desperately wants police to solve the case.
Only a few more than 80 licensed stores have opened since the law was signed three years ago, while there are thousands of illegal cannabis shops operating.
Jenner, who won the 1976 Olympic men's decathlon before coming out as transgender, said the future of sports is at stake.
A former police colleague said Adams demanded oral sex in exchange for his help with an employment issue in 1993.
Child care advocates are asking the mayor to reverse the $400 million in funding cuts to the city's universal pre-k and 3-k.
Torres, a Bronx Democrat, was in the thick of a big week in Washington, D.C. Plus, Delgado is trying to lead the charge to end attacks on marginalized communities.
Dr. Nidhi Kumar is On Call for CBS New York to break down the most common sleep disorders.
Payments and procedure authorizations are at a standstill and it's having a real impact on lives.
The 910-page report on the COVID pandemic faults planning, communication and decision making in Trenton and Washington, D.C.
It was a day of confusion after almost a dozen ambulette companies stopped transporting Medicaid patients in a bitter dispute over reimbursement rates.
With expanded screening, treatment and vaccination, experts believe cervical cancer can be completely eliminated.
He'll play more than a dozen concert dates in the newly refurbished theater.
A second man is charged in connection with the 2005 theft of ruby slippers worn by Dorothy in "The Wizard of Oz".
Celine Dion said in her post that March 15 was International Stiff-Person Syndrome Awareness Day.
Climate protesters used a pivotal townhall meeting scene to inject some action of their own on Broadway.
Actor Olivia Munn said on social media she's had four surgeries in the last 10 months, including a double mastectomy, since being diagnosed with breast cancer.
There was an explosion of emotions when the Columbia Lions found out they were headed into March Madness for the first time in program history.
Jenner, who won the 1976 Olympic men's decathlon before coming out as transgender, said the future of sports is at stake.
Rick Pitino on being left out: "We're not going to gripe. We're not gonna say we got screwed. None of that helps."
The 7-foot-4 rookie phenom had 33 points, 16 rebounds, seven assists and seven blocks in the 122-115 win on Sunday.
Here is a breakdown of each March Madness men's basketball team by conference.
A group of minority developers is leading a $166 million project to renovate three NYCHA buildings in Washington Heights.
Fire marshals said the five-alarm blaze in Sunnyside was set accidentally by a contractor. Tenants in more than 100 units were displaced.
The 12th annual Brain Fair brought out hundreds of kids to get hand-on experience learning about the most complex organ.
After their landlord wanted to double the price of their rent, tenants at 700 East 134th St., fought back and purchased the building.
Alex and Bessie Kuravsky put their bouncing baby boy to sleep and woke up to an unthinkable tragedy in their Brooklyn apartment.
The 50th Annual Village Halloween Parade drew massive crowds, celebrating the theme "Upside/Down:Inside/OUT."
As much of the northeast experiences heavy rains, parts of New York City are beginning to flood.
Thousands of people flooded Union Square on Friday for a PlayStation giveaway promoted by livestreamer Kai Cenat.
A crane went up in flames high above Manhattan, then partially collapsed onto the street below.
The Grammy Award winning singer who graced the stage for generations died at the age of 96.
A group of minority developers is leading a $166 million project to renovate three NYCHA buildings in Washington Heights. CBS New York's Jessi Mitchell reports.
March Madness takes hold at Columbia University after the women's basketball team earned an at-large bid to the NCAA Tournament. CBS New York's Vanessa Murdock reports.
Police shot and killed a man who officers said was walking around and shooting at people in East Flatbush.
Only a few more than 80 licensed stores have opened since the law was signed three years ago, while there are thousands of illegal cannabis shops operating. CBS New York's Dick Brennan reports.
Effy's Cafe, an Israeli restaurant on the Upper West Side, was full with longtime customers, politicians and community leaders in a show of solidarity after it was targeted by vandals. CBS New York's Lori Bordonaro reports.