Federal Reserve holds interest rate steady. Here's what that means.
The Federal Reserve marked its first rate decision of 2024 by keeping its benchmark interest rate unchanged.
The Federal Reserve marked its first rate decision of 2024 by keeping its benchmark interest rate unchanged.
In its last rate decision of 2023, the central bank said it is holding its benchmark rate steady amid cooling inflation.
Interest rates for a home loan are continuing to soar, driving many aspiring property owners out of the market.
Although inflation has slowed sharply, Fed officials are again tapping the brakes to ensure the economy slows.
After raising rates from zero to 5% in 15 months, the central bank is pausing to assess the economic impact of monetary tightening.
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.
Inflation's still high, but analysts warn that further rate hikes from the Fed could lead more more banks to topple.
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.
Can the Fed keep raising interest rates and defeat the worst bout of inflation in 40 years without causing a slump?
While the central bank is slowing its rate increases, Jerome Powell told investors not to expect lower rates this year.
The central bank boosted interest rates for the seventh time this year, which means pricier debt and loans.
Rates are at their highest level in 15 years as policymakers try to tamp down inflation without torpedoing the economy.
Each week brings head-scratching contradictory news about the economy. This past week was no different, with a batch of economic reports showing that — despite the recession talk — the US economy shows remarkable resilience.
It's never a great time to carry credit card debt. But right now is arguably the worst time.
Stocks rose in afternoon trading on Wall Street Tuesday as Americans head to the polls to vote in midterm elections that are being heavily influenced by inflation and the threat of a recession.
A measure of inflation that is closely monitored by the Federal Reserve remained painfully high last month, the latest sign that prices for most goods and services in the United States are still rising steadily.
Borrowing costs rose to their highest level in 14 years, and more interest-rate hikes are likely, Fed signaled.
Short term interest rates are going up a quarter of a percent.
President Barack Obama is nominating economist Kathryn Dominguez to serve on the Federal Reserve's board of governors.
U.S. stocks surged Thursday after the Federal Reserve unveiled a long-awaited package of aggressive steps to spur economic growth.
On Monday, the Treasury Department sold 553,846,153 shares in AIG on Monday, turning an $18 billion profit on the $32.50 a share price.
A Michigan attorney who unsuccessfully sued to overturn former President Donald Trump's 2020 loss has been arrested after a hearing on a separate case in Washington, D.
A significant development in Howell is set for a soft opening early this summer. In a few months, it will become a multimillion-dollar haven for motorsports enthusiasts.
The prom drive will run from March 18 through April 12, and dresses and accessories can be dropped off at 10 Comerica banking centers in Metro Detroit.
The invasive hemlock woolly adelgid has now been detected in Antrim County, joining seven other counties.
Frustrated with the lack of accountability following the Oxford High School shooting, the parents of Madisyn Baldwin, Tate Myre, Justin Shilling, and Hana St. Juliana are spearheading a movement seeking reform.
A Michigan attorney who unsuccessfully sued to overturn former President Donald Trump's 2020 loss has been arrested after a hearing on a separate case in Washington, D.
A significant development in Howell is set for a soft opening early this summer. In a few months, it will become a multimillion-dollar haven for motorsports enthusiasts.
The prom drive will run from March 18 through April 12, and dresses and accessories can be dropped off at 10 Comerica banking centers in Metro Detroit.
The invasive hemlock woolly adelgid has now been detected in Antrim County, joining seven other counties.
Frustrated with the lack of accountability following the Oxford High School shooting, the parents of Madisyn Baldwin, Tate Myre, Justin Shilling, and Hana St. Juliana are spearheading a movement seeking reform.
Volkswagen's factory in Chattanooga, Tennessee, is likely to be the first test of the United Auto Workers' effort to organize nonunion automobile plants across the nation.
America's muscle car culture will live on as the country transitions to electric vehicles, but the gas-powered performance car will last for at least a few more years.
On Monday afternoon, crews began to tear another portion of the massive Packard Plant on the city's east side that's been an eyesore for decades.
The Detroit fire department is raising alarms over safety concerns at General Motors' Factory Zero, where the automaker produces its electric vehicles.
Owners of Ford electric vehicles can now use much of Tesla's charging network in the U.S. and Canada, but there's a hitch.
This year's 313 Day was extra special for Detroit native Diarra Kilpatrick.
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.
Alec Baldwin's attorneys in a new court filing accused prosecutors of "unfairly stacking the deck" against him in grand jury proceedings.
Neil Young voluntarily removed his music from Spotify in 2022 after Joe Rogan, whose podcast was exclusively on Spotify, had a controversial infectious disease expert on as a guest during the COVID-19 pandemic.
The retailer that caters to quilters and crafters also said it has been weighed down by higher tariffs from China.
Volkswagen's factory in Chattanooga, Tennessee, is likely to be the first test of the United Auto Workers' effort to organize nonunion automobile plants across the nation.
The solar eclipse will impact solar production in Texas between 12:10 p.m. and 3:10 p.m. CDT. But the power grids are expected to be reliable.
Boston is looking to prolong its eight-game home win streak with a victory over Detroit.
United CEO Scott Kirby said the airline is reviewing a series of "unrelated" cases and adding extra training for pilots.
One way Macomb County Community Mental Health is trying to reduce the stigma is through combined care.
Infections of the highly contagious measles virus have been reported in 17 states in the first three months of 2024.
Cheetos varieties, including the spicy Flamin' Hot version, and other chips like Doritos include red 40, yellow 5 and yellow 6 – all on the list of ingredients that would be banned if the bill is enacted. Here are other foods that include dyes.
Retailer has received dozens of complaints of the air fryers overheating, melting or shattering, including six that caught fire.
The Michigan Department of Health and Human Services (MDHHS) confirmed its first influenza-related pediatric death in the state for the 2023-2024 flu season.
Boston is looking to prolong its eight-game home win streak with a victory over Detroit.
Bam Adebayo made a 3-pointer at the buzzer to lift the Miami Heat to a 104-101 win over the Detroit Pistons.
Here is a breakdown of each March Madness men's basketball team by conference.
Michigan defensive line coach Greg Scruggs is suspended indefinitely after his arrest for suspected drunk driving.
The Professional Women's Hockey League has no designs on expanding its six-team base for the foreseeable future.
Riney, who has spent his 46-year career at Henry Ford Health, was named one of Modern Healthcare's 100 Most Influential People.
Jerry Norcia has led DTE Energy for the past five years as the Detroit-based company has dealt with massive technology changes.
Trump was in Oakland County two weeks ago and said that whichever candidate wins Michigan will ultimately win the White House this November.
Republican presidential candidate Nikki Haley, who is on Tuesday's ballot, will be in Oakland County this Sunday and Monday in Grand Rapids campaigning for votes.
Bing talked about working with Biden as mayor when he was the vice president under Barack Obama and the city and its automakers in financial distress.
A significant development in Howell is set for a soft opening early this summer. In a few months, it will become a multimillion-dollar haven for motorsports enthusiasts.
There have been reports of Kate Middleton, Princess of Wales, at an outing days after a released photo of her sparked more speculation about her health. Nicholas Cull, an expert in British politics and Anglo-American relations, joined CBS News Detroit to weigh in on the issue.
Comerica Bank announced it is hosting its sixth annual Prom Dress Drive to support the nonprofit organization Jackets for Jobs.
Detroit City FC midfielder James Murphy looks back at Saturday's season-opening win.
The failures surrounding the mass shooting at Oxford High School were highlighted in an independent review done by Guidepost Solutions.