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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.
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.
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.
The central bank is leaving interest rates unchanged after 11 hikes since March 2022, which has boosted borrowing costs for millions of Americans.
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.
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.
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 meeting today to decide whether to again raise rates as it battle inflation. Here's what it means for interest rates and mortgages.
The Consumer Price Index rose six-tenths of a percentage point in August, largely driven by a spike in gas prices. CBS News contributor Javier David has more on what the number could mean for interest rates.
Saudi Arabia and Russia have agreed to extend their voluntary oil production cuts through the end of 2023 -- a move that's already driving prices up. Carolyn Kissane, associate dean at New York University's Center for Global Affairs, joins CBS News to discuss how higher oil prices could also impact interest rates in the U.S.
Unemployment jumped from 3.5% to 3.8% this month, a sign that the job market is cooling. The market also added 187,000 jobs. The Biden administration said this showed more people joining the workforce. Meanwhile, the Federal Reserve is considering another interest hike amid soaring inflation. Christina Ruffini reports.
Overheated labor market of the past two years may be over, raising questions about Fed's next move, experts say.
Interest rates for a home loan are continuing to soar, driving many aspiring property owners out of the market.
U.S. credit card debt surpassed $1 trillion this week, according to new data from the Federal Reserve Bank of New York. Michelle Lambright Black, the founder of creditwriter.com, explained the factors contributing to the increase in credit card debt among Americans and provided tips on how to pay down the balances.
Wholesale prices increased three-tenths of a percent for the month of July, according to a report from the Bureau of Labor Statistics. This comes a day after the consumer price index report showed prices rose by two-tenths of a percent last month. Hope King, senior business reporter for Axios, joined CBS News to talk about what those numbers mean for consumers and the economy.
Officials with the Federal Reserve won't convene again until September after hiking interest rates last month for the 11th time in the past year and a half. Jeanna Smialek, who covers the Fed and the economy for The New York Times, joined CBS News to discuss whether there will be another rate increase.
This week on "Face the Nation with Margaret Brennan," new charges of a cover-up were filed against former President Donald Trump in the classified documents case. Plus, some optimistic signs when it comes to the economy.
Neel Kashkari, the president of the Federal Reserve Bank of Minneapolis, discussed the bright spots on the economic front from last week.
There were some positive signs last week that the economy might be holding firm. Mark Strassmann has the details.
Missed the second half of the show? The latest on…former Arkansas Gov. Asa Hutchinson, who is seeking the Republican nomination for president, discussed a proposed mental acuity test for politicians over 75, Neel Kashkari, the president of the Federal Reserve Bank of Minneapolis, discussed the bright spots on the economic front from last week, and San Antonio Mayor Ron Nirenberg discussed the ongoing heat wave has put much of the Southeastern U.S. under dangerous heat alerts.
The nation's GDP grew at an annual rate of 2.4% from April to June 2023 -- a faster rate than many economists predicted. Lori Bettinger, president of Bancalliance, joined CBS News to discuss what the new figure means for the state of the economy.
In its ongoing effort to tamp down inflation, the Federal Reserve on Wednesday raised its key interest rate a quarter-point to 5.5%, the highest level it has been in 22 years. Carter Evans examines the impact of the Fed's rate hikes.
Although inflation has slowed sharply, Fed officials are again tapping the brakes to ensure the economy slows.
After briefly pausing its war on inflation last month, the Federal Reserve is resuming the battle by hiking its benchmark interest rate to the highest level in 22 years. Hope King, senior business reporter for Axios, joined CBS News as the Fed announced the rate hike.
The Federal Reserve is expected to raise interest rates again Wednesday afternoon after pausing in June. CBS News business analyst Jill Schlesinger discusses how this hike will affect Americans.
The move comes even though Ontario's leader said the anti-tariff ad would be halted beginning Monday.
Melissa strengthened into a major hurricane and is expected to bring "catastrophic" flash flooding and landslides to Jamaica, Haiti and the Dominican Republic.
Former vice president Kamala Harris spoke about the possibility of a woman being in the White House one day in an interview with the BBC.
President Trump met with the emir and prime minister of Qatar Saturday aboard Air Force One during a refueling stop.
President Trump late Friday pushed for several Biden-era Justice Department officials to be prosecuted over an FBI investigation into the fallout of the 2020 election.
Russian missile and drone attacks on Ukraine overnight into Saturday killed at least four people and wounded 20, officials said.
Jose Castro-Rivera was in a vehicle that was stopped on a Virginia highway on Thursday morning, according to Virginia State Police.
June Lockhart, the actor best known for her role as the matriarch in the TV series "Lassie", has died, her family spokesperson said Saturday.
The government shutdown hit Day 26 with no deal in sight as the Senate stands adjourned for the weekend.