Will Fed raise interest rates again this week? Here's what to expect.
Central bank officials will announce on Wednesday if they are hiking the federal funds rate for a 10th consecutive time.
Banking Crisis & Response
Bank stocks tumble as First Republic deal fails to stem investor fears
Shares of Los Angeles lender PacWest Bancorp fell 28% as spooked investors bail from regional banks.
What happens to First Republic Bank's stock and deposits now?
JPMorgan Chase is buying the troubled lender after it became the second biggest bank failure in U.S. history.
First Republic Bank seized by regulators, then sold to JPMorgan Chase
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.
First Republic teeters on collapse as FDIC circles troubled bank
The ailing regional lender is at risk of becoming the third U.S. bank to collapse since March.
Bill would require clawback of compensation from executives of failed banks
The legislation from a bipartisan group of senators would require regulators to claw back all or part of the compensation bank executives got in the five years leading up to a bank's failure.
Fed calls SVB's failure a "textbook case of bank mismanagement"
FDIC Chairman Martin Gruenberg estimated about $20 billion would be needed to cover the collapse of Silicon Valley Bank.
Transcript: Neel Kashkari on "Face the Nation," March 26, 2023
The following is a transcript of an interview with Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, that aired on "Face the Nation" on Sunday, March 26, 2023.
Americans voice confidence in their banks, but inflation woes continue
They say government helps wealthy more than middle class amid bank issues.
White House economy official on bank failures
Bharat Ramamurti, deputy director for the National Economic Council, joins Lana Zak and Errol Barnett ahead of the Federal Reserve's decision on interest rates. He discusses the Biden administration's response to recent bank failures and stubbornly high inflation.
Specter of "too big to fail" still haunts the banking industry
Forced sale of a storied investment bank and lax U.S. financial rules are renewing concerns about the banking sector.
Investors are panicked over banks. Will the Fed make things worse?
Inflation's still high, but analysts warn that further rate hikes from the Fed could lead more more banks to topple.
Fed expected to raise interest rates again
The Federal Reserve is expected to announce another round of interest rate hikes on Wednesday. Colby Smith, U.S. economics editor for the Financial Times, joins CBS News to discuss how the Fed's potential decision is tied to the banking crisis.
Yellen: We have plan in place in case more banks fail
The treasury secretary says the plan would be set in motion if additional collapses trigger a run on banks.
First Republic Bank woes mount despite Wall Street rescue
Regional lender's stock prices plunges 47% even after a group of the nation's biggest banks injected $30 billion in deposits.
SVB and First Republic's problems aren't going away. Here's why.
About 190 banks could fail if even half of their uninsured depositors withdraw their money, a new study finds.
UBS to purchase Credit Suisse amid fallout from U.S. bank collapses
Officials announced the takeover on Sunday, after shares of Credit Suisse plummeted last week despite a $54 billion loan from the Swiss National Bank.
Transcript: "Pivot" co-hosts Kara Swisher and Scott Galloway on "Face the Nation," March 19, 2023
The following is a transcript of an interview with Kara Swisher and Scott Galloway, co-hosts of "Pivot" podcast, that aired on "Face the Nation" on Sunday, March 19, 2023.
Transcript: H.R. McMaster on "Face the Nation," March 19, 2023
The following is a transcript of an interview with H.R. McMaster,former national security adviser in the Trump White House and a CBS News contributor, that aired on "Face the Nation" on Sunday, March 19, 2023.
Transcript: Gary Cohn on "Face the Nation," March 19, 2023
The following is a transcript of an interview with Gary Cohn, the former top economic adviser in the Trump White House and now vice chairman of IBM, that aired on "Face the Nation" on Sunday, March 19, 2023.
Transcript: Rep. Patrick McHenry on "Face the Nation," March 19, 2023
The following is a transcript of an interview with Rep. Patrick McHenry, Republican of North Carolina, that aired on "Face the Nation" on Sunday, March 19, 2023.
Transcript: Sen. Elizabeth Warren on "Face the Nation," March 19, 2023
The following is a transcript of an interview with Sen. Elizabeth Warren, Democrat of Massachusetts, that aired on "Face the Nation" on Sunday, March 19, 2023.
Shares of First Republic, Credit Suisse tumble despite new capital
The banks came under renewed pressure despite emergency measures to bolster their finances.
Biden asks Congress to crack down on executives at failed banks
The president is asking Congress to expand the FDIC's authority to penalize executives of failed banks.
SVB Financial, former parent of Silicon Valley Bank, files for bankruptcy
The bankruptcy comes days after its bank was shut down and taken over by regulators amid a solvency crisis.
U.S.
Detroit-bound flight diverted over passenger from Congo amid Ebola restrictions
An Air France flight from Paris to Detroit was forced to divert to Montreal due to U.S. flight restrictions linked to the Ebola outbreak.
Daycare owner charged with fraud tried to flee U.S. after closing center, prosecutors say
New fraud charges were unsealed Wednesday against a Minnesota daycare owner who federal prosecutors allege tried to flee the country just two days after shutting the center down.
DHS to tighten Ebola-related flight restrictions for some foreign travelers
The Department of Homeland Security is set to implement new entry restrictions beginning Thursday for foreign travelers coming to the U.S. from countries at the center of the latest Ebola outbreak.
Vanessa Trump announces breast cancer diagnosis
Vanessa Trump, 48, was married to Donald Trump Jr. for 12 years. They share five children together.
GOP Sen. Bill Cassidy takes digs at Trump, urging renewed unity in politics
Cassidy, who lost his reelection bid last week, called for leaders who are "steady, not erratic" and "thoughtful, not impulsive."
U.S. intel community analyzing how Cuba might respond to military action
These kinds of intelligence forecasts attempt not only to show the immediate consequences of an American action, but the chain of reactions that may follow.
DOJ veterans fear probe into ex-CIA director is being stacked with Trump loyalists
Former CIA Director John Brennan is the subject of two criminal probes being led by the Miami-area U.S. Attorney's Office.
SpaceX files for IPO as rocket company preps for market debut
Elon Musk's SpaceX is moving ahead with plans to go public in what some expect will be the biggest IPO ever.
Byron Allen on "Comics Unleashed" as it moves to new time slot on CBS
Comedian and media mogul Byron Allen brings "Comics Unleashed" to CBS's late night slot, replacing "The Late Show With Stephen Colbert."
Highest gas prices in years expected to continue rising this summer
U.S. motorists are likely to face even hotter gas prices as the summer driving season kicks off, according to a new analysis.
Judge orders White House staff to comply with presidential records law
A federal judge ordered White House staff and President Trump's top advisers to comply with a law that requires certain presidential records to be preserved.
What sagging bond prices are telling us about the U.S. economy
U.S. government bonds are sagging as investors fret that hotter inflation will keep interest rate cuts on hold.
Summer travelers face "vacation inflation" as airfare, gas prices rise
Gas prices, airfares, accommodations and other vacation essentials are more expensive this year compared to last year.
Bezos says bottom half of U.S. earners should pay no federal income tax
The Amazon founder said eliminating taxes for lower-income Americans could ease financial pressure and encourage entrepreneurship.
Retired officer jailed over Charlie Kirk post wins $835,000 settlement
Tennessee officials will pay $835,000 to settle a lawsuit filed by a man who was jailed for more than a month over a Facebook post he made about the assassination of conservative activist Charlie Kirk.
First on CBS
2 officers in Jan. 6 riot sue to block DOJ "anti-weaponization" fund
The $1.776 billion fund, which is part of the agreement to settle Trump's lawsuit against the IRS and Treasury Dept., is to be used to compensate those who claim that the government weaponized the legal system against them.
Fighter jets intercept plane that entered restricted airspace over D.C.
The aircraft entered the Washington D.C. Metropolitan Area Special Flight Rules Area, or DC SFRA, around 11:15 a.m. on Tuesday.
Assistant principal "did nothing" when told about 6-year-old with gun, prosecutor says
A prosecutor in the trial of a former assistant principal facing criminal charges over a 2023 school shooting said she dismissed concerns about a gun in a student's bag.
Suspected drug trafficker rescued from plane crash linked to politician
A survivor of a recent plane crash near Florida was allegedly found with roughly $30,000 inside a bag labeled with the name of a Bahamian politician.
Exclusive
U.S. soldier fears newly freed wife could still be deported by ICE at any time
U.S. Army Sgt. 1st Class and Afghanistan war veteran Jose Serrano told CBS News his wife, Deisy Rivera Ortega, was detained by ICE despite doing the "right thing."
The major cases the Supreme Court will decide in the coming weeks
The Supreme Court's term is set to end around the end of June, with decisions on birthright citizenship, transgender athlete bans and gun rights still to come.
New video shows fiery moments engine separated from UPS plane in deadly crash
The NTSB also revealed that the crew of the crashed jet had been reassigned to it after their original plane was taken out of service.
As gas prices surge, consumers search for other savings
The national average for a gallon of gasoline has been ticking up since the start of the war with Iran. The latest average of $4.50 a gallon is an increase of over $1.50 since the war started.
Teen attackers in mosque shooting were wallowing in nihilistic hate
"These subjects did not discriminate in who they hated," said Mark Remily, special agent in charge of the FBI's San Diego Field Office.
Imam of San Diego mosque says his community has seen a rise in Islamophobia
The imam of a San Diego mosque that was targeted in Monday's shooting told CBS News that his community has seen a rise in "Islamophobia and anti-Muslim sentiment" in recent years.
U.S.
More U.S.
Detroit-bound flight diverted over passenger from Congo amid Ebola restrictions
An Air France flight from Paris to Detroit was forced to divert to Montreal due to U.S. flight restrictions linked to the Ebola outbreak.
Daycare owner charged with fraud tried to flee U.S. after closing center, prosecutors say
New fraud charges were unsealed Wednesday against a Minnesota daycare owner who federal prosecutors allege tried to flee the country just two days after shutting the center down.
DHS to tighten Ebola-related flight restrictions for some foreign travelers
The Department of Homeland Security is set to implement new entry restrictions beginning Thursday for foreign travelers coming to the U.S. from countries at the center of the latest Ebola outbreak.
Vanessa Trump announces breast cancer diagnosis
Vanessa Trump, 48, was married to Donald Trump Jr. for 12 years. They share five children together.
GOP Sen. Bill Cassidy takes digs at Trump, urging renewed unity in politics
Cassidy, who lost his reelection bid last week, called for leaders who are "steady, not erratic" and "thoughtful, not impulsive."
MoneyWatch
More MoneyWatch
SpaceX files for IPO as rocket company preps for market debut
Elon Musk's SpaceX is moving ahead with plans to go public in what some expect will be the biggest IPO ever.
Highest gas prices in years expected to continue rising this summer
U.S. motorists are likely to face even hotter gas prices as the summer driving season kicks off, according to a new analysis.
What sagging bond prices are telling us about the U.S. economy
U.S. government bonds are sagging as investors fret that hotter inflation will keep interest rate cuts on hold.
Summer travelers face "vacation inflation" as airfare, gas prices rise
Gas prices, airfares, accommodations and other vacation essentials are more expensive this year compared to last year.
Bezos says bottom half of U.S. earners should pay no federal income tax
The Amazon founder said eliminating taxes for lower-income Americans could ease financial pressure and encourage entrepreneurship.
Politics
More Politics
State Democratic Party censures governor after he commutes Tina Peters' sentence
The central committee of the Colorado Democratic Party on Wednesday voted 89.8% in favor of a measure to censure Gov. Jared Polis.
Texas Dem under fire for saying she'd make ICE jail "prison for American Zionists"
A Democratic House candidate in Texas is facing widespread condemnation and accusations of antisemitism from her own party.
DHS to tighten Ebola-related flight restrictions for some foreign travelers
The Department of Homeland Security is set to implement new entry restrictions beginning Thursday for foreign travelers coming to the U.S. from countries at the center of the latest Ebola outbreak.
Exclusive
Ally of DOJ pardon attorney seeks to join board of Trump's $1.7+ billion fund
In his application letter, attorney Mike Howell proposed organizing a national gathering of "thousands of victims of weaponization," including those involved in the Jan. 6, 2021, Capitol riot.
GOP Sen. Bill Cassidy takes digs at Trump, urging renewed unity in politics
Cassidy, who lost his reelection bid last week, called for leaders who are "steady, not erratic" and "thoughtful, not impulsive."
HealthWatch
More HealthWatch
HealthWatch
Vanessa Trump announces cancer diagnosis
Vanessa Trump announced on Instagram that she has been diagnosed with breast cancer and is working with her doctors on a treatment plan.
Noah Wyle's push to help healthcare workers
Noah Wyle, who stars in HBO's "The Pitt," joins "CBS Mornings" with Dr. Elisabeth Potter to discuss their push to improve mental health and quality of life for healthcare workers.
Deadly measles outbreak in Bangladesh fuels concern over risks for U.S.
A CBS News medical correspondent and doctor says her "biggest concern for the World Cup is actually measles. It's not hantavirus, it is not Ebola."
WHO says Ebola risks high for region, but not a "pandemic emergency"
WHO chief Tedros Adhanom Ghebreyesus says risks from the Ebola outbreak in Congo and Uganda are "high at the national and regional levels, and low at the global level."
Cheaper, alternative health plans are having a moment, but critics urge caution
Congress' decision not to extend enhanced marketplace tax credits has boosted the appeal of alternative health coverage with lower monthly premiums.
World
More World
Detroit-bound flight diverted over passenger from Congo amid Ebola restrictions
An Air France flight from Paris to Detroit was forced to divert to Montreal due to U.S. flight restrictions linked to the Ebola outbreak.
U.S. intel community analyzing how Cuba might respond to military action
These kinds of intelligence forecasts attempt not only to show the immediate consequences of an American action, but the chain of reactions that may follow.
Spy plane "dangerously intercepted" by Russian jets over Black Sea
The Russian jets intercepted the U.K. aircraft with one jet flying as close as 19 feet to the British plane's nose, officials said.
U.S. indicts Cuba's Raúl Castro for murder over downing of planes in 1996
Former Cuban leader Raúl Castro was indicted by a U.S. grand jury in connection with the Cuban military's fatal downing of two planes in 1996 — an escalation in the U.S. pressure campaign against the Cuban government.
Netanyahu rebukes Israeli minister for treatment of Gaza flotilla activists
Italy and France have summoned the Israeli ambassadors in their respective capitals after Itamar Ben-Gvir, his national security minister, posted the video.
Entertainment
More Entertainment
Byron Allen on "Comics Unleashed" as it moves to new time slot on CBS
Comedian and media mogul Byron Allen brings "Comics Unleashed" to CBS's late night slot, replacing "The Late Show With Stephen Colbert."
From 1993: Letterman on "The Late Show" launch
Ahead of the premiere of "The Late Show" in August 1993, host David Letterman sat down with "CBS This Morning" to discuss his break from his previous late night show, what viewers could expect from his CBS debut and more.
Byron Allen on filling CBS' late night slot
Comedian and media mogul Byron Allen sits down with "CBS Mornings" to discuss his show "Comics Unleashed" and its transition into the CBS late night spot.
Sponsored
Michelle Monaghan on getting quality sleep
Actress Michelle Monaghan joins "CBS Mornings" to talk about her 24-hour wellness cycle and why it's important to get quality sleep and consistent energy. (Sponsored by Natrol)
Soon-to-be mom Beanie Feldstein reveals sex of her baby
Actor Beanie Feldstein told "CBS Mornings" she and wife Bonnie-Chance Roberts are expecting a baby girl.
Technology
More Technology
Technology
What Nvidia's Q1 earnings say about AI race
Cementing its status as the world's most valuable company, Nvidia reported record revenue in its latest earnings report. Britney Nguyen, Nvidia and chips reporter at MarketWatch, joins with analysis.
Google announces AI-focused search bar revamp
Artificial intelligence is prompting Google to change its iconic search bar for the first time in more than 25 years. Mashable tech editor Tim Werth joins CBS News to discuss.
How AI powered robots are helping small farms
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Concern ramps up over the use of AI in combat
The Defense Department says it wants to be "AI-first," but some service members are concerned about how quickly the technology is developing. Chris Livesay reports.
Privacy concerns grow over AI, phone numbers
Privacy concerns about artificial intelligence are growing after people discovered that chatbots are sharing their real phone numbers. Eileen Guo, investigative tech reporter for MIT Technology Review, joins to discuss.
Science
More Science
2 humpback whales swam record-breaking distance, photos reveal
The pictures represent the longest-distance ever seen between two pictures of the same humpback whale, researchers said.
Live chicks hatched from artificial eggshell, biotech company says
Independent scientists say the technology, while impressive, lacks some components to be truly considered an artificial egg.
El Niño could bring "double whammy" of high tide flooding, NOAA warns
The upcoming El Niño could trigger frequent and widespread flooding in coastal areas around the United States, even when storms aren't actively taking place, scientists warn.
New dinosaur weighing as much as 9 elephants identified by scientists
The long-necked herbivore is the largest ever found in Southeast Asia, researchers said.
How a growing El Niño will affect 2026 hurricane season in Atlantic, Pacific
The last time an El Niño pattern occurred was in 2023, when the Eastern Pacific hurricane season produced 20 tropical systems.
Crime
More Crime
Daycare owner charged with fraud tried to flee U.S. after closing center, prosecutors say
New fraud charges were unsealed Wednesday against a Minnesota daycare owner who federal prosecutors allege tried to flee the country just two days after shutting the center down.
TikTok star accused of murder-for-hire plot
A social media influencer and her father are accused of plotting to kill her famous singer ex, amid a bitter years-long custody dispute, court documents show. Jonathan Vigliotti is following the case.
Watch: Blanche announces Raúl Castro indictment
Acting Attorney General Todd Blanche announced murder and conspiracy charges Wednesday against former Cuban leader Raúl Castro and five others over the downing of two planes in 1996.
Man jailed over Kirk post wins settlement
Larry Bushart, who spent 37 days in jail over his Facebook post about the assassination of conservative activist Charlie Kirk, will get $835,000 to settle a lawsuit against Tennessee officials. CBS News' Shanelle Kaul reports.
More details on Mango founder's son
Court records reveal more details about the Mango founder's son, Jonathan Andic, who was arrested Tuesday in connection to his father's 2024 death. Leigh Kiniry reports.
Space
More Space
New version of Starship rocket ready for critical test flight
The new rocket features a host of upgrades intended to improve safety and performance of the world's most powerful rocket.
SpaceX launches cargo ship to International Space Station
The International Space Station-bound SpaceX Cargo Dragon is loaded with 6,500 pounds of needed equipment, research gear and crew supplies.
NASA maps show Earth's brightest and darkest regions at night
Researchers expected to find "a gradual increase in artificial light at night," but instead saw "much more nuanced patterns," NASA said.
NASA spacecraft to fly past Mars on voyage to rare metal asteroid
NASA's Psyche spacecraft will slingshot past Mars on Friday, on its way toward a rare metal-rich asteroid.
UFO files reveal astronauts saw mysterious objects and lights in 1972
NASA's Apollo 17 crew reported seeing three mysterious dots and sparks that resembled fireworks, according to new files released by the Pentagon.
Latest Galleries
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Notable Deaths in 2026
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Evidence in the Barbara Kendhammer case
Does the evidence show a cover-up, or was Todd Kendhammer wrongfully convicted for the murder of his wife?
The life & near death of prizefighter Christy Salters-Martin
Christy Salters-Martin dominated in the boxing ring but faced her toughest challenger at home.
Timeline: The disappearance of George Smith
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Who is Alix Tichelman?
Meet the tattooed beauty charged in the death of Google executive Forrest Hayes.
Latest CBS News Videos
More Latest CBS News Videos
Latest CBS News Videos
Why Harvard is limiting number of "A" grades
In a historic move, Harvard University faculty members have voted to limit the number of "A" grades given to undergraduates to curb rising grade inflation. Axios Boston reporter Mike Deehan joins "The Daily Report" with more.
Target Q1 earnings beat expectations
Home Depot, Target, Lowes and TJ Maxx all beat expectations with their first quarter earnings and revenue reported on Wednesday. Target had their strongest gains in years. CBS News senior business and tech correspondent Jo Ling Kent has more.
Raúl Castro indictment's significance
President Trump said he does not think there will be any additional escalation following the Justice Department's indictment of former Cuban leader Raúl Castro. CBS News national correspondent Lilia Luciano breaks down the situation.
Jan. 6 officers suing to block Trump fund
Metropolitan Police officer Daniel Hodges is one of two law enforcement officers who defended the Capitol during the Jan. 6 riots and is suing to block the Trump administration's nearly $1.8 billion so-called "anti-weaponization" fund. He joins "The Daily Report" to discuss why.
5/20: The Takeout with Major Garrett
Breaking down Tuesday's primaries as another Republican who broke with Trump falters; U.S. indicts Raúl Castro.