The Fed rate decision meeting is today. Here are the odds of a cut.
CBSN
The Federal Reserve on Wednesday afternoon will announce its third interest rate decision of 2024, but consumers aren't likely to see any near-term relief from high borrowing costs.
At year start, about 9 in 10 economists had forecast that the Fed would cut its benchmark rate at its May 1 meeting. Yet shifting economic winds and stubbornly high inflation have complicated policy makers' plans. As a result, Wall Street now expects the Fed to hold rates steady today, according to economists polled by financial data firm FactSet.
The Fed is likely to hold off on cutting rates until later in 2024, with most experts now penciling the first rate reduction for the central bank's September or November meeting, FactSet's data shows. That means consumers are likely to continue grappling with higher costs for all types of loans, from credit cards to mortgages, even as the costs of goods and services remains elevated.
Dollar General has a particularly clear view into the pocketbooks of low-income Americans, given those shoppers are the discount retailer's core customer base. And some are so financially pinched they can no longer afford basic necessities, the chain relayed on Thursday.
President Trump has made a number of inaccurate claims about Canada in the past week as he imposed new tariff hikes on the country and touted his plans for more.
Those who glance up at the sky tonight will have an opportunity to catch the March 2025 "Blood Moon," a phenomenon that colors the full moon in shades of red, orange and yellow during a total lunar eclipse.
A 37-year-old man died after falling from a chairlift that was having a mechanical problem at a Montana ski area, according to local authorities and a spokesperson for Red Lodge Mountain.
The White House is withdrawing former Florida Rep. Dave Weldon's nomination to be the director of the Centers for Disease Control and Prevention, a White House official confirmed Thursday.
The Federal Trade Commission asked a federal judge on Wednesday to delay a trial in a case accusing Amazon of using deceptive practices in its Prime subscription program, citing staffing and budgetary challenges at the government agency.
Oliver Miller, a beefy center who helped Arkansas advance to the Final Four before playing nine seasons in the NBA, has died. He was 54.
Nevada prosecutors say 20 people have been charged in connection with a brawl at a maximum-security prison in eastern Nevada last year in which three inmates were killed and others were injured.
The nominee for a top Justice Department job has left a digital trail of deleted social media posts that his critics say suggest fringe views on a number of issues, including an openness to defying court orders and acceptance of arranged marriages under certain circumstances.
Prosecutors say Bryan Kohberger's defense team will argue at his murder trial that someone else could have planted a knife sheath with Kohberger's DNA at the home where four University of Idaho students were killed in 2022.
Waterbury, Conn. — A Connecticut man who said he was held captive for 20 years was rescued after setting fire to his room and telling first responders he did it to gain his freedom, police said Wednesday.
Robert Morris, founding pastor of Gateway Church, a megachurch in Southlake, Texas, has been indicted on five counts of lewd or indecent acts with a child, stemming from alleged incidents dating back to the 1980s, the Oklahoma attorney general's office announced Wednesday. We are aware of the actions being taken by the legal authorities in Oklahoma and are grateful for the work of the justice system in holding abusers accountable for their actions. We continue to pray for Cindy Clemishire and her family, for the members and staff of Gateway Church, and for all of those impacted by this terrible situation.
President Trump has pardoned a former Republican Tennessee lawmaker who was two weeks into a 21-month prison sentence for an illegal campaign finance scheme that he pleaded guilty to in 2022, before he tried unsuccessfully to take back his plea.