The Federal Reserve held interest rates steady on Wednesday after hiking borrowing costs in September to clamp down on inflation. The central bank left the federal funds rate at a target range of 3.75% to 4%, keeping it unchanged after raising rates last month for the first time in three years. In a statement, the…
Walmart said on Wednesday that its “holiday meal basket” this year, which feeds 10 individuals, will cost $35, or $3.50 per person. The retailer’s dinner kit is available for purchase in stores or online through Dec. 24. Walmart cited internal survey data showing that consumers are seeking lower prices. The food items from Walmart and…
The Federal Reserve is scheduled to meet this week, when U.S. central bankers will decide whether to raise interest rates for the second time this year in a bid to subdue inflation. Most economists and Wall Street analysts expect the Fed to leave its benchmark rate unchanged at 3.75% to 4% when officials release the…
Americans are facing a “food insecurity crisis” after shouldering an additional $22 billion in food costs due to rising inflation and billions of dollars in food-stamp cuts, according to Sen. Elizabeth Warren. In an Oct. 21 letter to U.S. Department of Agriculture Secretary Brooke Rollins, the Massachusetts Democrat said that the combination of rising food…
In an hour-long town hall hosted by CBS News, Vice President JD Vance argued the Trump administration’s handling of the economy and Iran strategy will pay dividends in the future. He was also pressed on the Trump administration’s controversial immigration tactics, widespread discontent about the cost of living and his own political future during “Things…
During a CBS News town hall, a man whose wife was among the first American service members to die in the U.S.-Iran war pressed Vice President JD Vance on whether the Trump administration will hold people accountable for “mistakes” and “fundamental failures.” Master Sgt. Nicole Amor, a member of the U.S. Army Reserve from Minnesota,…
Financial markets slumped on Friday as investors bailed on technology stocks amid concerns that companies exposed to artificial intelligence are starting to wobble. The tech-heavy Nasdaq Composite tumbled 573 points, or 2.1%, to end at 26,140, closing out its worst week since June. The broader S&P 500 and blue-chip Dow Industrial Average sank 1.1% and…
Who has oversight of a car that flies, hovers or otherwise defies gravity? We asked Department of Transportation officials, and the answer isn’t readily clear. Tesla and SpaceX CEO Elon Musk unveiled Tesla’s new Roadster Rocket, which he called a “flying car” equipped with “ultra high-pressure air tanks” — describing it as “what happens when…
Rising financial strains on American workers are forcing them to make painful trade-offs, such as skipping medical care, to make ends meet, new research shows. Financial security among U.S. employees dropped from 46% to 36% in 2026, its lowest level in seven years, according to a survey of 6,000 U.S. employees by benefits company Willis Towers Watson…
Rising U.S. prices are squeezing household budgets, causing more Americans to fall behind on their debt payments, recent financial data shows. The share of seriously delinquent auto loan balances has hit a record high this year, while nearly 13% of credit card balances are seriously past due — close to their 2010 peak in the…
