Here's what the Fed's interest rate pause means for your money
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
The U.S. averted disaster by raising the debt ceiling, but a mild recession is still possible even as job numbers remain hot, according to the head of Bank of America. Mark Strassmann breaks down how the U.S. economy is doing.
President Biden Saturday signed a bipartisan bill that will suspend the nation's debt ceiling and avoid what could have been a catastrophic government default. Christina Ruffini has more.
President Biden will likely sign the debt limit bill later today after the House and Senate approved it this week. It's a win for the president as the 2024 campaign season gets underway in earnest. CBS News Correspondent Wendy Gillette reports from New York.
President Biden delivered remarks from the Oval Office Friday night after Congress passed bipartisan legislation to suspend the U.S. debt limit until 2025. Watch his address in this CBS News Special Report, with analysis from Margaret Brennan and Nancy Cordes.
The president spoke less than 24 hours after the Senate approved the agreement in a bipartisan vote.
The U.S. Senate is now taking up the compromise bill to raise the debt ceiling and avoid a catastrophic default. The House overwhelmingly passed the measure on Wednesday, but there are some grumblings in the Senate. Natalie Brand reports.
Skyler Henry reports on members of the House of Representatives debating the White House debt ceiling deal (5-31-2023)
House Freedom Caucus members are unhappy with the debt ceiling deal between House Speaker Kevin McCarthy and President Biden.
Natalie Brand reports on members of the House of Representatives preparing to vote on the White House debt ceiling deal (5-31-2023)
A majority of Democrats and a majority of Republicans voted in favor of the Fiscal Responsibility Act.
Scott McFarland reports on criticism leveled from both sides of the aisle against debt limit bill (5-29-2023)
President Biden and House Speaker McCarthy both expressed optimism that they would be able to get their respective parties on board for the debt ceiling plan they negotiated. Natalie Brand has the latest.
The debt ceiling deal has cleared both chambers of Congress and is headed to the president's desk.
The House Democratic leader said he can guarantee the U.S. will not default on its debt.
Bradley Blackburn reports on agreement reached to raise debt limit just days ahead of default (5-28-2023)
After days of intense negotiations and weeks of talks, an agreement in principle has been reached to raise the debt ceiling.
The massive storms that soaked California at the beginning of this year allowed many in the state to automatically be granted a tax extension. But that’s causing problems for the U.S. balance sheet as it approaches the deadline to raise the debt ceiling. Julie Weil, a tax reporter for the Washington Post, has more.
Republican lawmakers want the government to slash federal spending, which ballooned during the pandemic.
President Joe Biden wrapped up a meeting with House Speaker Kevin McCarthy to discuss raising the debt ceiling as the U.S. government will soon run out of money to pay its bills -- and possibly dive into a recession if no deal is reached. Nicole Sganga reports.
Negotiations over the debt ceiling ended on Capitol Hill as President Joe Biden and House Speaker Kevin Mccarthy prepare for face-to-face talks Monday afternoon.
Following several meetings Friday, White House negotiators and Republican congressional leaders left the Capitol without an agreement on solving the nation's debt ceiling crisis. President Biden is expected to cut short his Asia-Pacific trip to return to Washington to address the issue. Christina Ruffini has the latest.
Without a deal, Treasury Secretary Janet Yellen has said the U.S. could be unable to pay its bills and might default on its debt as soon as June 1.
Skyler Henry reports on the stalemate in the negotiations to raise the debt ceiling and avoid the first federal default in United States history.
The treasury secretary moved up her estimate of when the U.S. risks defaulting on its debt.
The city of San Francisco is investing in criminal justice reform, pumping more money into Young Adult Court, a program focused on getting repeat offenders' lives turned around.
A popular Oakland business that has had its share of recent struggles is now banking on a new downtown location for its comeback.
The Pittsburgh Steelers reportedly talked to the San Francisco 49ers about trading for Deebo Samuel.
California State Polytechnic University, Humboldt announced Friday that all classes and school business will be conducted remotely for the rest of the semester amid a student occupation on campus protesting the ongoing war in Gaza.
Prosecutors in former President Donald Trump's criminal trial in New York called two new witnesses to the stand on Friday, rounding out the first week of testimony.
The city of San Francisco is investing in criminal justice reform, pumping more money into Young Adult Court, a program focused on getting repeat offenders' lives turned around.
A popular Oakland business that has had its share of recent struggles is now banking on a new downtown location for its comeback.
California State Polytechnic University, Humboldt announced Friday that all classes and school business will be conducted remotely for the rest of the semester amid a student occupation on campus protesting the ongoing war in Gaza.
Prosecutors in former President Donald Trump's criminal trial in New York called two new witnesses to the stand on Friday, rounding out the first week of testimony.
Students at Stanford University have joined the national wave of protests on the war in Gaza on college campuses.
The city of San Francisco is investing in criminal justice reform, pumping more money into Young Adult Court, a program focused on getting repeat offenders' lives turned around.
Students at Stanford University have joined the national wave of protests on the war in Gaza on college campuses.
San Francisco has earned an unwelcome national reputation for car burglaries that U.S. Rep. Adam Schiff was reminded of the hard way.
The San Francisco Art Fair takes over the Fort Mason Festival Pavillion this weekend showcasing pieces from 85 galleries that represent countries around the world. Among the collections, a curated section focused on celebrating the positive aspects of San Francisco.
San Francisco crews knocked down a two-alarm fire in the city's Presidio Heights neighborhood early Friday morning, fire officials said.
A popular Oakland business that has had its share of recent struggles is now banking on a new downtown location for its comeback.
Contra Costa County fire crews and a hazardous materials team were called to the Costco location in Concord Friday afternoon after a report of a refrigerant leak, according to authorities.
Authorities in the East Bay on Friday have announced the arrests of three people in connection with a string of at least 11 armed robberies dating back to last summer.
Authorities in Pleasanton on Friday said that arriving first responders tried to render aid to one of the two children in Wednesday night's deadly crash that killed a family of four, but were unable to save the child.
A group of Alameda County residents and community leaders held a rally Friday in Oakland to support District Attorney Pamela Price and urge the county's Board of Supervisors not to schedule a special election for her recall.
Bay Area scientists are using cutting-edge technology to better understand the decline in bird populations while finding ways to help species that are challenged.
A former president of a San Jose elementary school enrichment program allegedly enriched herself by embezzling over $400,000 from the organization, police said Wednesday.
A bomb threat at San Jose City College Wednesday evening led the school to evacuate the campus and cancel all night classes, according to school officials.
The San Jose Sharks announced Wednesday that head coach David Quinn has been relieved of his duties, following one of the worst seasons in team history.
A caregiver to an elderly South Bay couple has been arrested on elder abuse charges after he allegedly used their debit card to steal thousands of dollars from the couple, deputies said Tuesday.
Federal officials this week announced the unsealing of a December 2020 indictment that charged two Chinese nationals with illegally conspiring to export advanced semiconductor technology to a manufacturer in China.
Golden Gate Ferry service in and out of Sausalito will remain suspended into next week as repairs continue at the Sausalito Ferry Landing, the city said Friday.
A man was sentenced earlier this week to 12 years and eight months in prison after he was convicted last year of molesting two children, Sonoma County prosecutors said.
If you're sick of scrolling through streaming services to find a movie to watch on your couch, the North Bay might be your next destination. A Benicia vintage store has set up a 'Free Blockbuster', and it's proving to be popular.
A houseboat went up in flames on Lake Berryessa in Napa County Wednesday, authorities said.
The Pittsburgh Steelers reportedly talked to the San Francisco 49ers about trading for Deebo Samuel.
The Niners ended the first day of the NFL draft by adding a rookie receiver in Florida receiver Ricky Pearsall and keeping its established stars Aiyuk and Deebo Samuel.
The Oakland Athletics beat the New York Yankees 3-1 Thursday night for a four-game split.
The Las Vegas Raiders drafted Georgia's Brock Bowers with the 13th pick of the first round on Thursday, the second year in a row they have taken a tight end high in the NFL draft.
An unprecedented six of the first 12 picks were quarterbacks, an NFL Draft record.
Federal officials this week announced the unsealing of a December 2020 indictment that charged two Chinese nationals with illegally conspiring to export advanced semiconductor technology to a manufacturer in China.
San Francisco has earned an unwelcome national reputation for car burglaries that U.S. Rep. Adam Schiff was reminded of the hard way.
Authorities in the East Bay on Friday have announced the arrests of three people in connection with a string of at least 11 armed robberies dating back to last summer.
A group of Alameda County residents and community leaders held a rally Friday in Oakland to support District Attorney Pamela Price and urge the county's Board of Supervisors not to schedule a special election for her recall.
Oakland police officer Jordan Wingate, critically injured more than five years ago in a collision while responding to a call, was remembered by family and friends at a memorial Friday following his death last week from injuries suffered in the crash.
Federal officials this week announced the unsealing of a December 2020 indictment that charged two Chinese nationals with illegally conspiring to export advanced semiconductor technology to a manufacturer in China.
Google's corporate parent Alphabet Inc. has released a quarterly report showing it's still reaping double-digit revenue gains from its digital advertising empire while sowing potentially lucrative new ground in artificial intelligence.
Congo's government is questioning Apple about the tech company's knowledge of "blood minerals" from a conflict zone in the African country that could be smuggled into supply chains.
U.S. regulators are reviving a rescinded rule, laying the groundwork for for a major court fight with the broadband industry.
Documents filed by Tesla with the state of California show nearly 3,000 workers in Fremont and Palo Alto will be among the mass layoffs announced by the electric automaker earlier this month.
The White House had been due to decide on the menthol cigarette rule in March.
First known HIV cases from a nonsterile injection for cosmetic reasons highlights the risk of unlicensed providers.
The California Department of Public Health issued a warning to distributors and retailers to not sell raw oysters from a Korean company over a potential link to norovirus cases.
UnitedHealth said it paid the criminals behind attack that crippled hospitals and pharmacies to protect sensitive patient data.
The CDC estimates the U.S. could reach 300 measles cases in 2024 — more than the recent peak two years ago.
California State Polytechnic University, Humboldt announced Friday that all classes and school business will be conducted remotely for the rest of the semester amid a student occupation on campus protesting the ongoing war in Gaza.
Prosecutors in former President Donald Trump's criminal trial in New York called two new witnesses to the stand on Friday, rounding out the first week of testimony.
Students at Stanford University have joined the national wave of protests on the war in Gaza on college campuses.
San Francisco has earned an unwelcome national reputation for car burglaries that U.S. Rep. Adam Schiff was reminded of the hard way.
A group of Alameda County residents and community leaders held a rally Friday in Oakland to support District Attorney Pamela Price and urge the county's Board of Supervisors not to schedule a special election for her recall.
One of San Francisco's oldest LGBTQ bars, on Saturday the Stud re-opened it's doors for the first time in four years at a new location.
A California judge has tentatively sided with state Attorney General Rob Bonta in a dispute over the title of a proposed ballot measure that would require school staff to notify parents if their child asks to change gender identification at schools.
On Friday morning, a special ceremony held on board the USNS Harvey Milk paid homage to the San Francisco gay rights icon who is its namesake.
CBS News national security correspondent David Martin says the naming of the USNS Harvey Milk is a statement that LGBTQ+ rights matter in the U.S.
The naming of the USNS Harvey Milk is just one sign of a very different U.S. military than what many LGBTQ veterans experienced, including one Bay Area army veteran, who reflected on his painful exit from service and how things have changed.
Harvey Weinstein's 2020 conviction on felony sex crime charges has been overturned by the State of New York Court of Appeals.
Winters Tavern in Pacifica hosts a free garage-rock birthday throwdown Friday night featuring local bands Hot Laundry, the Control Freaks and Minds Without a Face.
The 67th San Francisco International Film Festival begins Wednesday with a variety of screenings including the documentary "Counted Out," which will have its West Coast premiere Sunday.
The defense attorney representing a former Los Angeles-area gang leader accused of killing hip-hop music icon Tupac Shakur in 1996 in Las Vegas said Tuesday his client's accounts of the killing are fiction and prosecutors lack key evidence to obtain a murder conviction.
Organizers of the annual Outside Lands Music Festival at San Francisco's Golden Gate Park revealed the lineup for the 2024 event.
Ever since the COVID-19 pandemic, the Oakland Unified School District has seen an alarming spike in the number of unhoused students in the school system who deal with a host of challenges far beyond what most children face.
Meteorologist and CBS News Bay Area's resident pilot Lt. Jessica Burch got a treat during Fleet Week, taking to the skies with one of the Blue Angels.
A Bay Area man discovered his devastating loss left him with a new opportunity to rethink how he lives -- follow his journey in virtual reality, 360-degree video.
A groundbreaking medical study involving the UCSF Medical Center has shown some colorectal cancer patients can safely skip radiation treatment and enjoy a potentially higher quality of life.
Every day, San Francisco bar pilot Captain Zach Kellerman goes through what might just be the world's most dangerous commute.
The Sundance Institute is considering moving its film festival out of Park City, Utah and San Francisco is bidding to be the new host. Amanda Hari reports. (4-26-24) Website: http://kpix.com YouTube: http://www.youtube.com/CBSSanFrancisco Facebook: http://www.facebook.com/CBSSanFrancisco Instagram: http://www.instagram.com/KPIXtv Twitter: http://twitter.com/KPIXtv
CBS News Bay Area evening edition headlines for Friday Apr. 26, 2024. Watch full newscasts streamed at the CBS SF website or on the app. Website: http://kpix.com
As he prepared to receive the San Francisco International Film Festival’s Mel Novikoff Award, Gary Meyer reflects on the importance of the theatrical experience of cinema. Loureen Ayyoub reports. (4-26-24)
The city of San Francisco is investing in criminal justice reform, pumping more money into Young Adult Court, a program focused on getting repeat offenders back on the right track. Kenny Choi reports. (4-26-24)
The coin collector who organized the treasure hunt told KPIX it's a fun way to teach people about San Francisco's rich history. Da Lin reports. (4-26-24)
A Redwood City man changed his career path - from running Stanford's Digital Language Lab to going to beauty school - so he could serve his community in a way that's more meaningful to him.
A San Francisco-based nonprofit created by this week's Jefferson Award winner helps low income and unsheltered people stay healthy and feel good about themselves.
A trio who's led the way in keeping San Mateo County beaches clean is launching a whale of an idea for Earth Day.
Two Peninsula mothers are encouraging San Mateo County youth to think about how they can care for the environment and express themselves using the video tools they already use.
An Oakland man is bringing families together to break the cycle of violence in a neighborhood known for violent crime.
It's hard enough to graduate from one of the most prestigious schools in the country when you're the first in your family to go to college. Imagine doing that while you're also trying to protect your parents from being deported?
Some students who are the first in their families to go to college face the challenge of balancing a rigorous academic load while still working to help support their family back home.
A onetime pupil has now become a student advisor, giving back after years of mentorship led him to success.
Police departments all over the country are having a hard time finding new officers, but one Bay Area student is criss-crossing the world while preparing for a career in law enforcement here at home.
When most people graduate from college, they tend to focus on one job. But this month's Students Rising Above scholar is currently juggling multiple workplace assignments.