The Federal Reserve is making a rate cut decision on Thursday. Here's the impact on your money.
CBSN
The Federal Reserve on Thursday is expected to cut interest rates for the second time this year, with the decision coming less than two months after its surprise jumbo cut in September.
The Fed is expected to shave borrowing costs by 0.25 percentage points, or half the size of its September reduction, according to forecasts from economists polled by FactSet. That would bring the federal funds rate — the interest rate banks charge each other for borrowing money — down to a range of 4.5% to 4.75% from its current 4.75% to 5% level.
With the Federal Reserve's preferred inflation measure dropping to 2.1% last month, just shy of the Fed's 2% goal, the central bank is easing off the brakes it applied when inflation hit a 40-year high during the pandemic. High borrowing costs have made it more expensive to buy everything from homes to cars.
Washington — The 119th Congress begins Friday with Republicans in full control of the House and Senate for the first time since 2019.
At least 15 people were killed during a deadly attack on New Year's Day when a driver slammed into a crowd celebrating New Year's on Bourbon Street in New Orleans, in what is being investigated as a suspected terrorist attack.
A New Year's Eve fireworks explosion in a Honolulu-area neighborhood killed at least three people and critically injured 20 others, authorities said.
A Tesla Cybertruck caught fire outside the Trump Towers in Las Vegas, according to officials and video reports of the vehicle engulfed in flames.
Washington — President-elect Donald Trump will hold a rally-type event on Jan. 19 at the Capital One Arena in Washington, D.C., just ahead of his inauguration, according to multiple sources familiar with the planning.
Washington — House Republicans released a new rules package on Wednesday that will raise the threshold to force a vote on ousting the speaker.
Some Americans could get a break on their state income taxes this year, with nine states kicking off 2025 with a reduction in their individual income tax rates, according to an analysis from the Tax Foundation, a think tank that focuses on taxes.
Officials in New Orleans are holding a news conference on an attack on Bourbon Street that killed at least 10 people and injured dozens of others in the early hours of New Year's Day as revelers were celebrating.
In the wake of a deadly New Year's Day attack on a crowd of revelers on Bourbon Street in New Orleans, police indicated that Wednesday night's College Football Playoff Sugar Bowl quarterfinal between Georgia and Notre Dame at the Superdome will go on as planned.
Harry Chandler, a Navy medic who helped pull injured sailors from the oily waters of Pearl Harbor after the 1941 Japanese attack on the naval base, has died. He was 103.
Witness described the horrifying scene after officials say a man intentionally drove a truck into a crowd on Bourbon Street in New Orleans early Wednesday, killing at least 10 people and injuring dozens more. The driver died after exchanging gunfire with police, the FBI said.