When is the Federal Reserve going to start cutting rates?
The Fed decided not to change rates this week, but announced three cuts that are expected later this year. CBS News Business Analyst Jill Schlesinger is here to help explain.
The Fed decided not to change rates this week, but announced three cuts that are expected later this year. CBS News Business Analyst Jill Schlesinger is here to help explain.
Fed Chair Jerome Powell announced Wednesday the federal funds rate will stay in the 5.25% to 5.5% range. What does that mean for the economy and borrowers?
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.
A frantic search at Chassidim of the Heights is underway to find a safe in the rubble that is holding the sacred scrolls.
The hunt continues for the gunmen police said shot and killed a 29-year-old man and injured three others on a street corner Tuesday evening.
Columbia University President Dr. Minouche Shafik is testifying about antisemitism on college campuses before the House Committee on Education and the Workforce.
Due to budget cuts and growing class sizes, some New York City parents have chosen to take their children out of public schools, to give their kids a more individualized education.
Today will be at least 10 degrees cooler than yesterday, with a little rain developing in the afternoon.
A frantic search at Chassidim of the Heights is underway to find a safe in the rubble that is holding the sacred scrolls.
The hunt continues for the gunmen police said shot and killed a 29-year-old man and injured three others on a street corner Tuesday evening.
Columbia University President Dr. Minouche Shafik is testifying about antisemitism on college campuses before the House Committee on Education and the Workforce.
Due to budget cuts and growing class sizes, some New York City parents have chosen to take their children out of public schools, to give their kids a more individualized education.
Today will be at least 10 degrees cooler than yesterday, with a little rain developing in the afternoon.
Today will be at least 10 degrees cooler than yesterday, with a little rain developing in the afternoon.
We're in for another sunny and pleasantly warm afternoon, but not as warm as yesterday. Highs will be in the low 70s.
Today will be sunny with highs in the mid to upper 70s, possibly even 80 inland. Late showers are possible south of the city.
Damaging wind gusts are the main threat, but we can't rule out small hail or an isolated tornado northwest of NYC.
Thousands lined the streets of downtown Hartford on Saturday to celebrate UConn's second straight NCAA men's basketball championship, and sixth in 25 years.
Today will be at least 10 degrees cooler than yesterday, with a little rain developing in the afternoon.
Emergency crews worked all night to clear debris from tractor trailer crash above Elizabeth Avenue.
We're in for another sunny and pleasantly warm afternoon, but not as warm as yesterday. Highs will be in the low 70s.
Crews are working to reopen the roadway after part of a retaining wall collapsed onto the New Jersey Turnpike.
The statue of A. Philip Randolph in Newark is one of only three of the civil rights icon in the U.S.
Suspected Gilgo Beach serial killer Rex Heuermann is appeared in court in Suffolk County, Long Island.
More 55-gallon drums containing waste petroleum and chlorinated solvents have been found buried in Bethpage Community Park.
Lindy Jones pleads not guilty in last month's deadly shooting of NYPD Det. Jonathan Diller in Far Rockaway, Queens.
Many New Yorkers fear more fallout from escalating tensions between Israel and Iran. For now, there's extra police outside Jewish institutions as all pray for a peaceful future.
Jake's 58 expansion is expected to double betting terminals to 2,000 and more than triple the number of parking spaces.
Columbia University President Dr. Minouche Shafik is testifying about antisemitism on college campuses before the House Committee on Education and the Workforce.
Sen. Bob Menendez heads to trial next month to fight charges that he traded his political influence for cash, gold bars and a luxury car.
New York City health officials are warning of a worrisome increase in the number of leptospirosis cases from contact with rat urine.
Seven Manhattan residents were selected Tuesday afternoon to serve on the jury in former President Donald Trump's criminal trial.
The operation against illegal street vendors in Jackson Heights on Monday was part of New York City's attempt to address quality-of-life issues
19 people have been stricken — including nine who have been hospitalized — after getting fake or mishandled injections in homes and spas, feds warn.
East Harlem community leaders say the state oversaturated the neighborhood with methadone and other drug treatment centers as most patients live elsewhere.
Younger adults are aging faster, increasing their risk for early onset cancers. So which anti-aging techniques actually work?
Most worrisome gaps involve cancer chemotherapy drugs, ER medications and and therapies for ADHD.
Black women are three times more likely to die from a pregnancy-related cause than white women, according to the CDC.
In the 1,000th episode, titled "A Thousand Yards," NCIS comes under attack by a mysterious enemy from the past.
A Billy Joel special on CBS and Paramount+ will air again after it was cut off in the middle of the singer's performance of "Piano Man."
The coming-of-age story is a favorite for generations of middle and high school students, and they're returning to it on Broadway.
CBS New York's Steve Overmyer met Ed Alstrom, the organ player who has been hyping up Yankees fans in the Bronx for over 20 seasons.
Eleanor documented much of the chaos on "Apocalypse Now" in what would become one of the most famous making-of films about moviemaking, 1991's "Hearts of Darkness: A Filmmaker's Apocalypse."
Vladimir Guerrero Jr. reached base four times and had two RBIs, Yusei Kikuchi pitched six sharp innings to win for the first time this season and the Toronto Blue Jays beat the Yankees 5-4, handing New York its third consecutive loss.
Jose Hernandez balked home the go-ahead run in the seventh inning, Jeff McNeil added an RBI double and the New York Mets beat the Pittsburgh Pirates 3-1.
Buzunesh Deba, who lives in the Bronx, became the default winner of the 2014 Boston Marathon in 2016 when the first-place winner was disqualified for doping, but she says she has not yet received her prize money.
Knicks superfan Anthony Donahue says he expects to travel with the team as long as they are alive in the NBA playoffs.
How far the Rangers go in the postseason will almost certainly depend on Artemi Panarin continuing his brilliance.
Buzunesh Deba, who lives in the Bronx, became the default winner of the 2014 Boston Marathon in 2016 when the first-place winner was disqualified for doping, but she says she has not yet received her prize money.
While many are excited about the idea of a state-of-the art skate park in Brooklyn, one of the largest on the East Coast, others oppose the location chosen.
East Harlem community leaders say the state oversaturated the neighborhood with methadone and other drug treatment centers as most patients live elsewhere.
President Joe Biden dropped in virtually to speak at the National Action Network convention Friday, breaking down his efforts to reduce the burden on Black people and boost opportunities for their success.
From eating cash to long lines, subway riders in Queens say their MetroCard machines are a mess.
The Francis Scott Key Bridge in Baltimore collapsed early Tuesday, March 26 after a column was struck by a container ship that reportedly lost power, sending vehicles and people into the Patapsco River.
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.
Sources say the two siblings had taken the day off school to watch the eclipse and were playing in a hallway with a group of kids.
The hack crippled the legislative Bill Drafting Commission, which is responsible for publishing the budget.
According to the CDC, Black women are three times more likely to die during childbirth than other races. This year's Black Maternal Health Week centers on raising awareness and focuses on reproductive rights. Chanel Porchia-Albert, founder and CEO of Ancient Song joins CBS New York to discuss.
CBS New York's John Elliott has the latest weather forecast.
The hunt continues for the gunmen police said shot and killed a 29-year-old man and injured three others on a street corner Tuesday evening. CBS New York's Elijah Westbrook reports.