MoneyWatch

There’s no question that savers have had it good for the last year or so. With the Federal Reserve keeping its benchmark rate paused at a two-decade high to temper inflation, rates on interest-bearing accounts, like high-yield savings accounts and certificates of deposit (CDs), have been much higher than they were just a couple of years ago. So, the returns …

As consumers cope with lingering inflation, CBS News is tracking the change in prices of everyday household expenses — from food at the grocery store to utilities and even rent — across the country. Drawing from a wide range of government and private data, the tracking charts below show how the cost of goods and services have changed since from …

Waffle House CEO Joe Rogers III says the restaurant chain is making its “single largest additional investment in our workforce” in its 68-year history by hiking base pay for servers to three bucks an hour. The raises take effect this month and follow a more than year-long campaign led by a union that represents service workers in the South. The …

Some taxpayers may not be aware that they owe the IRS a check on Monday, which could lead to their owing the agency a chunk of change come next April. More Americans are getting caught up by the issue, which involves quarterly estimated taxes, or payments made to the IRS throughout the year on income that isn’t subject to withholding. …

Pittsburgh is well-known for its steel industry and for bringing ketchup to the French fry-loving masses. As it turns out, it is also one the most affordable places in the world, according to a newstudy. In a report on international housing affordability by Chapman University and Frontier Centre for Public Policy, a Canadian think tank, Pittsburgh earned the title of …

Interest rates are high these days. Those high rates mean it’s possible to earn a strong return on deposit accounts. A popular option among these is acertificate of deposit (CD). With CDs, you commit to leaving your money in the account through its entire term. In exchange, the financial institution agrees to pay you a meaningful interest rate – one …

Inflation is falling and interest rates could soon, too. That was some of the big financial news this week after the Bureau of Labor Statistics released a report showing inflation falling in May (for the second month in a row) and the Federal Reserve elected to keep the federal funds rate unchanged. While not quite at the Fed’s 2% target …

If you’re a potential homebuyer who’s wondering whether it really makes sense to buy a home in today’s tough (and expensive) housing market, you certainly aren’t the only one. For starters, home prices remain elevated due to a mix of limited inventory and persistent demand. And, ongoing inflation issueshave led the Federal Reserve to keep its benchmark rate paused at …

Dallas, Detroit, Honolulu, San Francisco and Seattle are all distinctly different U.S. cities, but with one thing in common: Residents there have been hit hardest by inflation. That’s according to a study from WalletHub which compared key inflation metrics within 23 major metropolitan statistical areas in connection with the latestConsumer Price Index data, as well as CPI data from two …

The Food and Drug Administration “inadvertently archived” a whistleblower’s complaint regarding conditions at an Abbott Nutrition plant that produced powdered baby formula recalled in 2022 due to bacteria that killed two infants, an audit shows. An early 2021 email raised red flags about the plant in Sturgis, Michigan, that became the focal point of a nationwide shortage of infant formula …