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.
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Health and Human Services Secretary Robert F. Kennedy Jr. has eliminated the Centers for Disease Control and Prevention's laboratories for sexually transmitted diseases and hepatitis, multiple officials tell CBS News, disrupting ongoing work to respond to outbreaks.
At least three senior staffers at the National Security Council have been fired, with more firings expected, two U.S. officials with knowledge tell CBS News.
Hailey Okula, a nurse influencer, has died after giving birth to her first child, a son named Crew, her husband said. They had dealt with infertility for almost two years.
Trump's tariffs target Heard Island and McDonald Islands, Australian territory inhabited by penguins
With his announcement of widespread new tariffs on Wednesday, President Trump spared very few places on the globe from his effort to upend global trade — even the remote Heard Island and McDonald Islands, a sub-Antarctic Australian territory inhabited by penguins, but no people.
Billionaire Elon Musk will continue to be a "friend and an adviser" to President Trump after he formally leaves government, Vice President JD Vance said Thursday on Fox News.
Researchers are predicting an above-average Atlantic hurricane season in 2025, likely producing stronger and more frequent storms than a typical year but at the same time with less intensity expected than last season. The annual prediction is closely watched in Florida and other coastal states at risk when hurricane season officially starts June 1.
Financial markets around the world tumbled after President Trump on Wednesday announced a barrage of new tariffs, with U.S. stock futures pointing to a sharp drop when Wall Street opens for business.
Violent storms cut through a wide swath of the South and Midwest, spawning tornadoes and killing at least two people, knocking down power lines and trees and ripping roofs off homes.
The U.S. State Department revoked the visas of members of a Mexican band after they projected the face of a drug cartel boss onto a large screen during a performance in the western state of Jalisco over the weekend.
The mayor of one of North Dakota's largest cities resigned after an investigation into him mistakenly sending a lewd video to the city attorney.
A federal judge in Boston is holding a hearing Thursday regarding a Tufts University Ph.D. student taken into custody in Massachusetts and moved by Immigration and Customs Enforcement authorities to Louisiana last week.
For years, White House press conferences included sign language interpreters for the deaf.
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