Fed leaves interest rate unchanged, but hints at cuts for 2024
In its last rate decision of 2023, the central bank said it is holding its benchmark rate steady amid cooling inflation.
In its last rate decision of 2023, the central bank said it is holding its benchmark rate steady amid cooling inflation.
As Americans collected government aid and saved, new numbers show household wealth surged during the pandemic.
As Americans collected government aid and saved, new numbers show household wealth surged during the pandemic.
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
Central bank officials will announce on Wednesday if they are hiking the federal funds rate for a 10th consecutive time.
The regional lender, whose collapse is the second-biggest bank failure in U.S. history, is the third bank to be seized by regulators since March.
House prices just ended a 10-year streak, marking the first monthly year-over-year price drop since 2012.
A new economic report could pressure the Federal Reserve to raise interest rates again.
The U.S. Census Bureau said retail sales surged 3% in January. That surpasses the 1.8% economists had estimated, and it follows a slight decline in December.
While the central bank is slowing its rate increases, Jerome Powell told investors not to expect lower rates this year.
Rates are at their highest level in 15 years as policymakers try to tamp down inflation without torpedoing the economy.
Latest jump is the fourth supersized rate hike this year, as the central bank tries to subdue stubbornly high inflation.
The Federal Reserve boosted interest rates again in a move to slow the inflation rate.
The Federal Reserve, as expected, announced it is raising interest rates by three-quarters of a percentage point to help tamp down inflation. CBS News' Tanya Rivero and Christina Ruffini get analysis of the economic and political impact from Ted Rossman, senior industry analyst at Bankrate.com; CBS News political correspondent Caitlin Huey-Burns; and Michelle Singletary, Washington Post personal finance columnist.
If we are headed for a recession, here's what you need to know to protect your pocketbook.
If we are in fact headed for a recession, what are some things you can do to make sure you "recession-proof" yourself? KDKA's John Shumway has some advice.
The rise in the federal funds rate, which is what banks charge each other for overnight loans, comes as several significant pieces of economic data are released this week.
"Inflation is much too high," Fed Chair Jay Powell said of the U.S. central bank's largest rate hike since 1994.
The Fed could lift rates by 0.75-percent.
The expected 0.75-percent boost would be the biggest since 1994. KDKA's Lindsay Ward has the story.
It will be the largest rate hike in more than two decades, so why is the Federal Reserve making this move?
For the second time since 2018 the Federal Reserve is expected to hike interest rates. KDKA's Lindsay Ward has the details and how this will impact your wallet.
The Federal Reserve is working to mitigate the financial fallout from coronavirus and that includes lowering mortgage rates.
The U.S. Federal Reserve slashed its benchmark interest rate by a full percentage point in a response to the COVID-19 outbreak.
For the second time in three months, the Federal Reserve has cut interest rates so what does this mean for consumers?
Hundreds of thousands of people are traveling to Erie to see the total solar eclipse.
Kristel Candelario has been sentenced to life in prison with no chance of parole.
There's a second egg in the peregrine falcon nest on top of Pitt's Cathedral of Learning.
Jamal Bailey was arrested on Sunday in Las Vegas on firearm charges.
Pending a meeting Wednesday involving the Allegheny County Board of Elections, a councilman will drop his lawsuit.
Hundreds of thousands of people are traveling to Erie to see the total solar eclipse.
Kristel Candelario has been sentenced to life in prison with no chance of parole.
There's a second egg in the peregrine falcon nest on top of Pitt's Cathedral of Learning.
The annual KDKA Fish Fry Guide is back so you can find the catch of the day on Fridays during Lent.
Each spring, teens across Western Pennsylvania sing and dance their hearts out in their school's musical theater production.
Pending a meeting Wednesday involving the Allegheny County Board of Elections, a councilman will drop his lawsuit.
A Washington County judge has thrown the future of the Shuman Juvenile Detention Center in doubt.
West Virginia Gov. Jim Justice has signed a budget for the next fiscal year after criticizing lawmakers for waiting until the very end of their session and approving it with less money for some critically needed programs.
PA Chamber Minute: Legislative Scorecard
PA Chamber Minute: Coolest Thing in Pa.
Before the pandemic, an obsession with lavish weddings came to a head, but lately, that's going away.
Want to check the latest product recalls, click here!
President Biden is not expected to say that the transition should be blocked, just that it needs 'serious scrutiny.'
There's a chance whatever you're driving is under recall.
KDKA's John Shumway is here with some expert advice.
Maria D'Antonio from Y108 joined us today for a new edition of Pop Talk Live!
Our etiquette expert, Liz Aquino, joined us in studio to help us with some common conversation!
Veterinarian Dr. Mike Hutchison was here with some ground-breaking news when it comes to our pets' gut health.
Last week's PTL Chicken Parm-A-Thon gave us a hankering for Italian food and lucky for us, a new spot in Coraopolis is serving up just that. We had on the owners of Cafe A Mano, Brian and Lindsay Torchia, to show us one of their dishes!
Rob Fisher, from Edgar Snyder and Associates, was here to break down March Madness pools, and if you have one with your co-workers, what could happen if money gets involved.
Ambulance and emergency medical service operators across the state say they're underfunded and struggling to survive.
A statewide crisis involving the juvenile justice system.
Is the city of Pittsburgh headed into a fiscal disaster?
Falling property values threaten to blow a hole in Pittsburgh's finances.
At Sto-Rox, the superintendent says she spends $8 million to fund underperforming cyber charter school.
A free website encourages a weekly cry and John Shumway talked to the founder about it.
Dieticians say foods rich in magnesium, antioxidants and omega-3 fatty acids get the seal of approval if you head to the kitchen late at night.
A new study finds that isometric exercise may be the best exercise for lowering your blood pressure.
Infections of the highly contagious measles virus have been reported in 17 states in the first three months of 2024.
The popular actress is sharing her story to encourage others to be their own health advocate.
Kenny Pickett is ready for a fresh start in Philadelphia.
Andrew McCutchen and his wife Maria have welcomed their fourth child.
Duquesne University's men's basketball coach is retiring at the end of the season.
Four games will be played on Thursday.
Pickett's farewell message did not mention the Steelers.
Russell Wilson is in and Kenny Pickett is out. It is true on the field and in local apparel shops.
Allegheny Health Network is boosting its minimum hourly starting wage to $18 an hour at the end of the month.
The owner of the team and the stadium is seeking a $10 million state grant to help fund the first phase of expansion.
President Biden is not expected to say that the transition should be blocked, just that it needs 'serious scrutiny.'
WalletHub named Pittsburgh among the best cities in the country for celebrating St. Patrick's Day.
Fallingwater in Fayette County has opened for the season.
With hundreds of millions on the line for Powerball and Mega Millions, you'll want to buy your tickets on Monday.
A second man is charged in connection with the 2005 theft of ruby slippers worn by Dorothy in "The Wizard of Oz".
Steel City Con will remain in Monroeville following the announcement that the Monroeville Convention Center will remain open.
Actor Pierce Brosnan, who was fined $500 for stepping off a Yellowstone National Park thermal area trail, was caught after posting pictures online, court records said.
Law enforcement, businesses and organizations are already preparing for the big day.
Two buffaloes were born at Allegheny County's South Park.
KDKA-TV's Erika Stanish has your top stories and the latest weather forecast in the KDKA News Now Update.
A Washington County judge has thrown the future of the Shuman Juvenile Detention Center in doubt. The judge ruled the former Allegheny County executive did not have the power to contract with a private company to run it. KDKA-TV's Andy Sheehan has more.
In an exclusive interview with KDKA-TV, Bob Huggins said he wants to coach again.
Steelers quarterback Kenny Pickett is going to the Eagles.
Two people died in a massive house explosion and in Crescent Township that could be heard and felt for miles in Western Pennsylvania on the morning of Tuesday, March 12, 2024.
Quarterback Russell Wilson plans to sign with the Pittsburgh Steelers after being released by the Denver Broncos.
The 2024 Pittsburgh International Auto Show cruised into the David L. Lawrence Convention Center on Feb. 16 for a Presidents Day weekend of fun and automobiles.
The Riverwalk along the North Shore is flooded and the 10th Street Bypass is expected to flood today.