The Fed hiked interest rates for the first time since 2018. Here's how that could hit your wallet.
CBSN
Americans have gotten used to low interest rates for borrowing money, making it cheap to take out a loan for a home, car or other needs. But consumers will now find themselves paying more for all types of loans and credit this year now that the Federal Reserve has raised interest rates for the first time since 2018.
Fed officials on Wednesday afternoon announced that they are raising the central bank's benchmark short-term interest rate 0.25%. That might not seem like much, but a quarter point move in the federal funds rate is expected to be only the first of several such increases this year as the Fed normalizes monetary policy and tries to douse the steepest inflation in decades.
President-elect Donald Trump and the head of NATO have met for talks on global security, the military alliance said Saturday.
"Wicked: Part 1," arguably the most highly anticipated movie of the holiday season, has prompted debate over expectations of how audiences should behave during screenings of the musical, which hit theaters this weekend.
Alice Brock, whose Massachusetts-based eatery helped inspire Arlo Guthrie's deadpan Thanksgiving standard, "Alice's Restaurant Massacree," has died at age 83.
President-elect Donald Trump nominated Dr. Marty Makary Friday to lead the Food and Drug Administration, selecting a surgeon and author who opposed vaccine mandates and some other public health measures during the coronavirus pandemic.
Near Atlanta — Cheryl Johnson and her TNT sportscaster husband, Ernie, say they've had a blessed life, due in no small part to a decision they made back in 1991.
President-elect Donald Trump has chosen Republican Rep. Lori Chavez-DeRemer as his nominee to lead the Labor Department.
President-elect Donald Trump on Friday announced hedge fund billionaire Scott Bessent as his pick for U.S. Treasury secretary, choosing a former executive with Soros Fund Management who in recent years has been a vocal supporter of the former president's policies, from tariffs to spending cuts.
Walmart must pay almost $35 million to one of its former truck drivers after a California jury found the retailer had falsely accused him of workers' compensation fraud and wrongfully terminated him.
Americans planning to do some holiday baking this year may have to scramble to track down a key ingredient.
Washington — The Supreme Court on Friday said it will consider the constitutionality of the Federal Communications Commission's Universal Service Fund, agreeing to review a lower court decision that upended the mechanism for funding programs that provide communications services to rural areas, low-income communities and schools, libraries and hospitals.
Just a week before Thanksgiving, shoppers at Stop & Shop stores across Massachusetts were forced to leave empty-handed after a cyberattack against the supermarket chain's parent company led to inventory shortages.