CBSN Business News

The Federal Reserve on Wednesday announced its third consecutive interest rate cut of 2024, reducing its benchmark rate by 0.25 percentage points amid cooling inflation. Yet in a blow for borrowers, the central bank also projected that it will loosen rates less next year than previously expected.

At 84 years old, Evelyn Paternostro spends her days working part time as a cashier at Dollar Tree. For decades, she dedicated her life to education, serving as a teacher and principal in Louisiana. But despite years of her public service, she now struggles to make ends meet.

It's not shaping up to be a very merry holiday season for some major retailers this year. 

Users are reporting problems accessing many of Meta's social media apps, including Facebook, Instagram, Threads and Messenger, according to outage tracking service Downdetector. 

Health insurance costs are far outpacing inflation, leaving more consumers on the hook each year for thousands of dollars in out-of-pocket expenses. At the same time, some insurers are rejecting nearly 1 in 5 claims. That double whammy is leaving Americans paying more for coverage yet sometimes feeling like they're getting less in return, experts say. 

More than four million Americans gouged by credit repair companies including Lexington Law and CreditRepair.com will soon collectively receive $1.8 billion in refund checks, the Consumer Financial Protection Bureau announced Thursday.

The Department of Labor is proposing to phase out a controversial Depression-era program that lets some employers pay disabled workers less than the federal minimum wage.

The Department of Labor is proposing to phase out a controversial Depression-era program that lets some employers pay disabled workers less than the federal minimum wage.

Many consumers trust that when they toss a plastic cup into a recycling bin at a restaurant or coffee shop, it will be recycled and turned into something new. However, a CBS News investigation uncovered that this isn't always true.

Some retailers are using President-elect Donald Trump's proposed tariffs to urge consumers to shop now, suggesting if the import duties go into effect next year, a range of goods could cost Americans a lot more money.