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
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.
U.S. economy growing faster than expected
The U.S. gross domestic product — the broadest measure of economic activity — grew a revised 5.2% in the third quarter of 2023. That's the highest quarterly GDP growth in nearly two years, according to the Bureau of Economic Analysis. Reade Pickert, Federal Reserve editor for Bloomberg, joins CBS News to unpack the state of the economy.
How Fed may respond to low October inflation
The Labor Department says the rate of inflation — which measures how much prices are rising — fell to 3.2% in October. Frances Stacey, director of strategy at Optimal Capital, joins CBS News to discuss what this means for your wallet and the country's financial outlook.
What the Fed rate pause means for your wallet
The Federal Reserve on Wednesday left interest rates steady for a second consecutive time. CBS News senior business and technology correspondent Jo Ling Kent explains what that means for Americans.
Why the Fed left interest rates unchanged
The Federal Reserve on Wednesday held its benchmark interest rate steady for a second consecutive time while upgrading its view of the U.S. economy and leaving open the possibility of additional rate hikes should inflation quicken in coming months. David Wessel, director of the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution, joined CBS News to discuss the reasoning behind the decision.
October jobs report falls short
Fewer jobs than analysts expected were added last month, and the country's unemployment rate ticked up to 3.9%, the highest it has been since Jan. 2022. The report comes after the Federal Reserve held interest rates steady earlier this week. Jo Ling Kent explains what this means for your wallet.
Unchanged rates impact small businesses
Americans are grappling with the repercussions of sustained high interest rates, which have been hovering just over 5% since July – the highest in decades. The Federal Reserve's decision Wednesday to keep rates steady signals continued challenges for those looking to borrow. CBS News' Jo Ling Kent reports.
Federal Reserve leaves rates unchanged
The latest decision by the Federal Reserve to hold off on increasing interest rates any further may signal that the U.S. economy is moving in the right direction. CBS News business analyst Jill Schlesinger and J.D. Durkin, a host for the financial news site "TheStreet," join CBS News to discuss the decision.
Fed to issue interest rate decision Wednesday
Federal Reserve Chairman Jerome Powell will issue the central bank's latest decision on interest rates Wednesday after pausing rate hikes in September. Greg Robb, a senior reporter and economics editor for MarketWatch, joined CBS News to discuss how the Fed will make its decision.
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Oil prices surge amid Israel-Hamas war
Oil prices rose 5% Friday amid the war between Israel and Hamas. J.D. Durkin, host of "The Street," joins CBS News to discuss what the spike means for U.S. investors.
Jobs soared beyond expectations this month
Businesses are still hiring at a high rate as consumer spending remains robust. Colby Smith, a U.S. economics editor for the Financial Times, joins CBS News with some of the indicators of where the economy is headed next.
Job openings rise unexpectedly, data shows
Jobs in the United States rose higher than experts predicted, according to new August data released Tuesday. Carleton English, a reporter at Barron's, joins CBS News ahead of new unemployment data expected on Friday.
Stock futures up after shutdown averted
Wall Street index futures kicked off October on a high note after lawmakers averted a government shutdown. Investors will wait to hear from Federal Reserve Chair Jerome Powell on Monday for more on the central bank's interest-rate path. CBS News contributor Javier David, managing editor for business and markets at Axios, has more.
Tracking the impact of interest rate hikes
The average interest rate on a credit card in November 2021 was 16.4%. As of September, the average credit card interest rate is nearly 24.5%. Javier David, managing editor at Axios, joined CBS News to discuss other ways rising interest rates are putting pressure on Americans.
$10,000 bill sells for nearly half a million dollars at Texas auction
A vintage banknote and an even older coin collectively sold for nearly $1 million at a multi-day bidding event in Dallas.
Home sales down 15% from 2022, data shows
Existing home sales fell almost 1% in August and were down about 15% over the past year, according to new data from the National Association of Realtors. Aarthi Swaminathan, personal finance reporter for MarketWatch, joined CBS News to discuss the numbers.
U.K. pauses interest rate hikes, joining U.S.
The Bank of England followed the U.S. Federal Reserve's lead Thursday, leaving interest rates unchanged for the first time in nearly two years, but the U.K.'s rate remains at a 15-year high of 5.25%. Martin Baccardax, senior editor and chief markets correspondent for financial news website TheStreet, joins CBS News to talk about the pause in rate hikes.
High mortgage rates creating challenges for buyers
With mortgage rates hovering above 7% for five straight weeks, prospective buyers are facing a housing shortage as would-be sellers seek to keep their low, locked-in rates. Nancy Chen has details.
Federal Reserve pauses interest rate hikes — for now
The central bank is leaving interest rates unchanged after 11 hikes since March 2022, which has boosted borrowing costs for millions of Americans.
Federal Reserve holds interest rates steady
The Federal Reserve opted not to raise interest rates Wednesday, despite the recent uptick in the inflation rate. CBS News business analyst Jill Schlesinger and CBS News senior White House and political correspondent Ed O'Keefe join Lilia Luciano and Lana Zak to discuss the central bank's decision.
Federal Reserve pauses interest rate hikes
The Federal Reserve left interest rates unchanged in its September meeting in spite of inflation accelerating in August and remaining above the central bank's target rate. CBS News business analyst Jill Schlesinger and CBS News senior White House and political correspondent Ed O'Keefe have the latest.
Interest rate hike not expected this month
The Federal Reserve is expected to announce its decision on another possible interest rate hike Wednesday afternoon. Jeanna Smialek, a Federal Reserve and economics reporter for The New York Times, joined CBS News to discuss the chances of a rate increase.
The Fed is making a rate decision today. Here's what to expect
The Fed is meeting today to decide whether to again raise rates as it battle inflation. Here's what it means for interest rates and mortgages.
RFK Jr. faces heated questions on CDC, vaccines at Senate hearing
Health and Human Services Secretary Robert F. Kennedy Jr. defended firing the director of the CDC at a hearing before a Senate committee on Thursday.
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Amy Coney Barrett says the law isn't an "opinion poll"
Justice Amy Coney Barrett spoke to CBS News senior correspondent Norah O'Donnell for her first TV interview since joining the Supreme Court in 2020.
D.C. sues Trump administration over National Guard deployment
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Trump to host dinner with tech giants at the White House
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New York AG appeals ruling that erased penalty in Trump civil fraud case
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U.S. designating 2 more gangs as foreign terrorist groups, Rubio says
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Death toll in Lisbon streetcar crash mounts, leaving Portugal reeling
Lisbon's Elevador da Gloria funicular streetcar has carried tourists in Portugal's capital for more than a century. The cause of its deadly crash remains unclear.
Spirit Airlines to end service in 12 cities, amid bankruptcy struggles
Spirit confirmed to CBS News on Thursday that it is discontinuing service in 12 cities.