Analyzing Jerome Powell's legacy
Friday marked Jerome Powell's last day as Chairman of the Federal Reserve. CBS News producer Emily Pandise takes a look at his legacy.
Federal Reserve
How will Jerome Powell be remembered as he exits as Fed chair?
As Powell steps down after more than eight years leading the Federal Reserve, economists say he helped steer the U.S. through historic shocks but misread inflation.
Powell's legacy as Federal Reserve chair
Federal Reserve Chair Jerome Powell's last day comes after a tense tenure through a pandemic, economic turmoil and a rocky relationship with President Trump. CBS News' Emily Pandise reports.
Powell's tenure ends as Federal Reserve chair
Kevin Warsh is expected to take over as chair of the Federal Reserve as Jerome Powell concludes his tenure. Kristin Myers, the senior vice president of content and editor in chief of ETF.com, joins CBS News with more.
Senate confirms Kevin Warsh as next Fed chair
Kevin Warsh was confirmed by the Senate on Wednesday as the next Federal Reserve chair. Warsh will succeed Jerome Powell, whose term ends Friday. CBS News' Caitlin Huey-Burns has more.
Fed unlikely to cut interest rates until 2027, Bank of America says
A "hawkish" turn at the Fed and stubbornly high inflation could delay interest rate cuts, according to Bank of America economists.
Minneapolis Fed president on interest rates
Neel Kashkari, the president and CEO of the Minneapolis Fed, told "Face the Nation with Margaret Brennan" that while economists have been watching for an interest rate cut, "we all need to be open-minded about where interest rates are going because there's so much uncertainty coming out of the Middle East."
Fed holds interest rates steady again
The Federal Reserve on Wednesday held its benchmark interest rate steady for the third consecutive month as the U.S. economy faces rising inflation. Kelly O'Grady reports.
Powell to stay on Federal Reserve board as policy makers hold rates steady
Fed chief Jerome Powell said he will remain as a governor on the central bank's board after his term as chair ends on May 15.
Why Fed kept rates same for third consecutive time
For its third consecutive meeting, the Federal Reserve left its benchmark interest rate unchanged. CBS News MoneyWatch correspondent Kelly O'Grady reports.
Senate Banking Committee advances Kevin Warsh's nomination for Fed chair
Senators voted along partisan lines, with Republicans backing Warsh's nomination to lead the Fed and Democrats on the panel opposing him.
Powell staying on Fed board after term ends
Jerome Powell held his last news conference as Federal Reserve chair on Wednesday, announcing his intention to stay on the central bank's board as a governor "for a period of time to be determined" following the end of his term.
Federal Reserve holds interest rates steady
The Federal Reserve held its benchmark interest rate steady on Wednesday as the U.S. economy continues to grapple with rising inflation. CBS News MoneyWatch correspondent Kelly O'Grady has more.
Tillis says he's ready to move forward with Warsh's nomination for Fed chair
U.S. Attorney Jeanine Pirro said Friday her office is dropping its criminal investigation into Fed Chairman Jerome Powell and the $2.5 billion renovation of the central bank's headquarters.
End of DOJ Powell probe could clear way for Warsh
The Justice Department has dropped its criminal investigation into outgoing Federal Reserve Chair Jerome Powell over the central bank's renovation. The move clears a key hurdle for President Trump's pick to replace Powell, Kevin Warsh. CBS News congressional correspondent Nikole Killion reports.
4/24: The Takeout with Major Garrett
Second round of U.S.-Iran peace talks expected this weekend; U.S. soldier charged for allegedly using confidential info to bet on Maduro's removal.
White House DOJ dropping Jerome Powell probe
The Justice Department announced Friday that it would be dropping an investigation into Federal Reserve Chair Jerome Powell. CBS News' Kelly O'Grady reports.
Justice Department drops Jerome Powell probe
U.S. Attorney Jeanine Pirro announced Friday that the Justice Department is dropping the investigation into Federal Reserve Chairman Jerome Powell.
Tillis: "Hard to tell" where U.S. is in Iran war
Wednesday marks 53 days since the U.S. launched the war with Iran. Republican Sen. Thom Tillis of North Carolina joins "The Takeout" to discuss the state of the conflict and more.
Kevin Warsh on Fed independence
President Trump's nominee to head the Federal Reserve assured lawmakers on Tuesday that he would maintain strict independence. Kristin Myers, the senior vice president of content and editor in chief of ETF.com, joins CBS News with more.
Key moments at Warsh confirmation hearing
Kevin Warsh, President Trump's nominee to replace outgoing Federal Reserve Chair Jerome Powell, faced tense questioning from senators at his confirmation hearing on Tuesday. Here are some of the most notable exchanges.
What led to Cherfilus-McCormick's resignation?
Democratic Rep. Sheila Cherfilus-McCormick of Florida resigned from Congress on Tuesday ahead of a House Ethics Committee hearing to decide how to sanction her for more than two dozen campaign finance-related violations. CBS News congressional reporter Taurean Small has more.
Who will run the Federal Reserve if the Senate doesn't confirm Trump's pick?
President Trump is fighting to reshape the Federal Reserve by replacing Chair Jerome Powell with Kevin Warsh — but if the Senate doesn't confirm Warsh by next month, it's not clear who will run the nation's central bank.
Warsh asked about Lisa Cook firing
During questioning from Democratic Sen. Angela Alsobrooks, Kevin Warsh declined to weigh in on President Trump's attempt to fire Lisa Cook from her position on the Federal Reserve Board of Governors, a case that is now before the Supreme Court. "The Fed should stay in its lane," Warsh said.
Warsh denies Trump asked for interest rate cuts
Sen. Ruben Gallego pressed Kevin Warsh again about whether President Trump asked him to commit to lowering interest rates if he was nominated to lead the Federal Reserve. Warsh reiterated that the president never asked him to "commit to any such thing."
Rep. Massie is latest GOP incumbent to lose primary after Trump backs challenger
President Trump endorsed former Navy SEAL Ed Gallrein in Kentucky's 4th Congressional District.
Live
Trump says he was "an hour away" from striking Iran
Trump says he scrapped a planned attack on Iran at the request of Gulf allies as "serious negotiations" on a peace deal are underway.
Teen attackers in mosque shooting were wallowing in hate, investigators say
"These subjects did not discriminate in who they hated," said Mark Remily, special agent in charge of the FBI's San Diego Field Office.
Stelson to face GOP Rep. Perry in rematch in competitive Pennsylvania district
Stelson narrowly lost to Perry in 2024 in a district that became more competitive after redistricting nearly a decade ago.
Senate advances resolution to limit Trump's Iran war powers for first time
Four Republicans voted with nearly all Democrats to advance the Iran war powers measure, with GOP Sen. Bill Cassidy joining the Republican defectors for the first time.
DOJ's settlement with Trump bans IRS from taking action over his old tax returns
The Internal Revenue Service is permanently barred from pursuing claims against President Trump or his company based on prior tax returns, part of a controversial settlement deal between the Justice Department and Mr. Trump.
Mike Collins and Derek Dooley advance to runoff in Georgia GOP Senate primary
Rep. Mike Collins and former college football coach Derek Dooley will advance to a runoff next month in the Georgia GOP primary for Senate, as Republicans vie for an opportunity to take on Democratic Sen. Jon Ossoff.
U.S. intel assessment says military identified at least 10 mines in Strait of Hormuz
CBS News was unable to determine what type of mines were in involved in this latest assessment.
Trump's $1.7+ billion fund sparks rush to capitalize: "All J6ers will apply"
One Republican lawyer close to the administration told CBS News that they expect the fund to face court challenges even though "a lot of people in MAGA world are already counting their money."
U.S.
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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 hate, investigators say
"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. intel assessment says military identified at least 10 mines in Strait of Hormuz
CBS News was unable to determine what type of mines were in involved in this latest assessment.
MoneyWatch
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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.
Is the teen summer job a thing of the past?
A summer job was once a seasonal tradition for millions of American teenagers. No more — here's why fewer young people are expected to clock in when school ends.
Polymarket to let users make prediction market bets on private companies
Polymarket users can now trade on private companies' valuations, IPOs and secondary market activity.
The 10 most affordable U.S. cities to buy a home
Buyers can still find lower-cost homes in some midsize cities, especially across the Rust Belt and Sun Belt, a new analysis finds.
AI sparks backlash from new graduates. How deep does the disapproval go?
Many Americans are signaling disapproval of the technology amid fears that it will eclipse already competitive entry-level jobs.
Politics
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Rep. Massie is latest GOP incumbent to lose primary after Trump backs challenger
President Trump endorsed former Navy SEAL Ed Gallrein in Kentucky's 4th Congressional District.
Keisha Lance Bottoms wins Georgia Democratic governor primary, CBS News projects
Former Atlanta mayor Keisha Lance Bottoms has secured enough support to avoid a runoff in Georgia's closely watched Democratic primary for governor, CBS News projects
Mike Collins and Derek Dooley advance to runoff in Georgia GOP Senate primary
Rep. Mike Collins and former college football coach Derek Dooley will advance to a runoff next month in the Georgia GOP primary for Senate, as Republicans vie for an opportunity to take on Democratic Sen. Jon Ossoff.
Stelson to face GOP Rep. Perry in rematch in competitive Pennsylvania district
Stelson narrowly lost to Perry in 2024 in a district that became more competitive after redistricting nearly a decade ago.
Live updating Pennsylvania 2026 primary election results
Pennsylvania voters went to the polls on Tuesday, casting their votes for Republican and Democratic candidates in congressional, gubernatorial and local races.
HealthWatch
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HealthWatch
Where things stand with the Ebola outbreak
The State Department on Tuesday strongly urged Americans to avoid travel to Congo, Uganda and South Sudan because of the Ebola outbreak there. More than 130 people have already died. Mark Strassmann has more.
Eroding ACA enrollment portends higher insurance rates
An uptick in people skipping Obamacare premium payments in many states suggests the Affordable Care Act's rising costs are hitting home for 2026 enrollees.
Latest on American who contracted Ebola
A missionary doctor who was serving in Congo will receive treatment in Germany after testing positive for Ebola. Skyler Henry has the latest.
American doctor working in Congo tests positive for Ebola
An American medical missionary in the Democratic Republic of the Congo was evacuated after testing positive for Ebola.
Ebola strain in latest outbreak has no vaccine or treatment
The virus behind the latest Ebola outbreak is the Bundibugyo virus, which is less common and there is no vaccine or treatment.
World
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Senate advances resolution to limit Trump's Iran war powers for first time
Four Republicans voted with nearly all Democrats to advance the Iran war powers measure, with GOP Sen. Bill Cassidy joining the Republican defectors for the first time.
First on CBS
Federal prosecutors open new criminal probe into Maduro, sources say
There is concern among some in the Justice Department that the pending charges against him are weak, sources said.
Who's who in Cuba's leadership? Here are the names to know.
President Trump has been openly mulling a takeover of Cuba similar to the operation that toppled Venezuela's Nicolás Madoro. What it would mean for the regime's leaders remains to be seen. Here are some of the figures to watch.
Iran stages mass weddings for couples ready for "self-sacrifice" in war
Iranian state media showed wedding ceremonies in Tehran for dozens of couples said to have volunteered for "self-sacrifice" in the war with the U.S.
Man gets death sentence for killing teen TikTok star in Pakistan
Sana Yousaf's murder in June drew nationwide condemnation and reignited debate over women's safety.
Entertainment
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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.
Beanie Feldstein on takeaways from kids' book
Actor Beanie Feldstein talks about the theme of her debut children's book, which focuses on the power of friendship. She also discusses becoming a parent soon and starring in a new film with Robert De Niro.
2-time "Survivor" contestant on 50th season
Rob Cesternino, a 2-time "Survivor" castaway, talks about the upcoming "Survivor 50" finale, who he think will make the final three and who is his favorite to win the game.
Hayden Panettiere opens up in new memoir
Golden Globe-nominated actor Hayden Panettiere shares her story and opens up about life in the spotlight as a young actor, postpartum depression and her healing journey.
5/17: Sunday Morning "By Design"
Jane Pauley hosts our annual look at design. Featured: Tiny homes in your backyard; Louis Vuitton; Adobe house construction; Finland's Marimekko; domino art; Philadelphia food favorites; chandeliers; Longwood Gardens; rare maps; and director Jon Favreau of "The Mandalorian and Grogu."
Technology
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Technology
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.
Musk loses lawsuit against OpenAI
A California jury on Monday unanimously dismissed Elon Musk's lawsuit against OpenAI and its top executives. CBS News legal contributor Jessica Levinson breaks down the case.
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.
Musk says he'll appeal OpenAI lawsuit dismissal
A California jury on Monday unanimously dismissed Elon Musk's lawsuit against OpenAI and Sam Altman. CBS News senior business and technology correspondent Jo Ling Kent reports.
Jury unanimously dismisses Elon Musk's lawsuit against OpenAI
California jury dismissed all charges, finding that Musk missed the three-year statute of limitations to file suit.
Science
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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.
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.
Crime
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Crime
Islamic Center shooting victims hailed as heroes
New details are coming out about the victims in Monday's shooting at the Islamic Center of San Diego. Lana Zak reports.
Mosque shooting victims hailed as heroes
Police and federal authorities are working to piece together the events leading up to Monday's deadly shooting at the Islamic Center of San Diego, as well as what exactly happened during the attack. CBS News' Anna Schecter has the details.
Teen attackers in mosque shooting were wallowing in hate, investigators say
"These subjects did not discriminate in who they hated," said Mark Remily, special agent in charge of the FBI's San Diego Field Office.
San Diego imam describes victims of shooting
Imam Taha Hassan of the Islamic Center of San Diego tells CBS News about the beloved security guard and members of his mosque who died "sacrificed their lives for the entire community" during Monday's shooting.
FBI: Islamic Center shooters radicalized online
Investigators gave an update Tuesday on Monday's deadly shooting at a mosque in San Diego. CBS News' Lana Zak and Anna Schecter have the latest.
Space
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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.
Pentagon begins releasing UFO files: "It's time the American people see"
Defense Secretary Pete Hegseth said in a statement that the documents "have long fueled justified speculation — and it's time the American people see it for themselves."
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
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Latest CBS News Videos
Senators grill Blanche over compensation fund
Senators grilled acting Attorney General Todd Blanche on Tuesday over the Justice Department's nearly $1.8 billion fund to compensate people who claim they were politically targeted. CBS News' Natalie Brand and Caitlin Huey-Burns report.
Expert: Current redistricting wave unprecedented
The redistricting battle for the 2026 midterms will have a profound impact on the balance of power in Washington, D.C. CBS News' David Becker, Anthony Salvanto, Nikole Killion and Caitlin Huey-Burns have more.
What's behind Cuba's energy crisis?
In January, the U.S. began a blockade of oil tankers to Cuba, exacerbating an ongoing energy crisis. Roxanna Vigil, international affairs fellow in national security at the Council on Foreign Relations, joins with analysis.
Barr projected to win Kentucky GOP Senate primary
CBS News projects that Andy Barr will win the Republican primary for Kentucky Senate. CBS News' Aaron Navarro, Caitlin Huey-Burns and Nikole Killion have more.
Inside the redistricting effect on primaries
Some Alabama primary races were postponed from Tuesday due to the redrawing of the state's congressional map. CBS News' Jan Crawford and Anthony Salvanto, along with Sabato's Crystal Ball managing editor Kyle Kondik, take a look at how redistricting efforts are changing primary battles across the country.