Stocks rise after Fed acknowledges "disinflationary process"
"We will need substantially more evidence to be confident that inflation is on ... downward path," said Fed Chair Jerome Powell
Federal Reserve
How the Fed's latest interest rate hike affects your money
Because inflation is easing, Fed is increasing rates at slower pace. But borrowing will still be more expensive.
Federal Reserve hikes interest rates 0.25 percentage point
While the central bank is slowing its rate increases, Jerome Powell told investors not to expect lower rates this year.
Federal Reserve raises interest rates again
Javier David, a managing editor of business and markets for Axios and a CBS News contributor, joins Lana Zak and Elaine Quijano as the Federal Reserve announces it is raising rates for the eighth time over the course of a year. He explains why the central bank decided on the quarter-point increase and what it means for the U.S. economy.
Fed expected to raise interest rates again
The Federal Reserve is expected to announce another interest rate hike today, but the increase is expected to be lower than previous hikes that began in March 2022. Fed Chairman Jerome Powell will address the media this afternoon. CBS News reporter Sarah Ewall-Wice joins us to discuss the significance.
U.S. GDP grew 2.9% in final quarter of 2022
The economy is fighting back against inflationary pressures, but many economists say that won't last, and the economy could slow down in 2023 as an intended consequence of the Federal Reserve's efforts to rein in inflation by raising interest rates. Economist and Harvard University professor Jeffrey Frankel joined CBS News to discuss what the latest GDP data could mean for the economy moving forward.
Stocks finish higher on encouraging GDP numbers
The Dow Jones ended in the green Thursday following a report that showed the U.S. gross domestic product rose 2.9% in the fourth quarter of 2022. Kayla Bruun, economic analyst for Morning Consult, joined CBS News to discuss what the latest GPD data could mean to the economy.
How interest rates affect the tech industry
As tech companies cutting thousands of jobs this month, CBS News correspondent Vladimir Duthiers discusses how the Federal Reserve's interest rate hikes have contributed to the industry's financial woes.
NYSE experiences technical issue
The New York Stock Exchange experienced a technical issue early on Tuesday, temporarily halting trading for more than 80 companies. Dan DeFrancesco, finance editor for Insider, joined CBS News to recap the day for the markets, and what the latest Justice Department antitrust lawsuit against Google could mean for the tech industry.
U.S. economy is slowing to stall speed, recession gauge shows
Conference Board index has fallen 10 months in a row, indicating a recession is likely sometime this year.
Treasury takes action as U.S. hits debt ceiling
The U.S. officially reached the debt limit on Thursday, and the Treasury Department says it has begun taking "extraordinary measures" to maintain the full faith and credit of the United States. It sets up a showdown that could put the entire U.S. economy at risk. Scott MacFarlane has more.
Here's when the U.S. could crash through the debt ceiling
Hitting "Date X" without raising the debt ceiling could lead the U.S. to default on its debt for the first time in its history.
Inflation is cooling, Fed Vice Chair Lael Brainard says
But central bank will have to keep interest rates elevated "for some time" to keep a lid on price increases, official notes.
Dow drops on negative retail sales report
The Dow Jones dropped more than 600 points Wednesday following the release of the December retail sales report by the U.S. Commerce Department. Kayla Bruun, an economic analyst for "Morning Consult", joined CBS News to provide her reaction to the report.
Federal Reserve Chair Jerome Powell has COVID-19
U.S. central bank chief is isolating at home while "experiencing mild symptoms," according to the Fed.
CPI report indicates inflation is slowing
The Consumer Price Index fell in December for the sixth straight month. It could be a sign the Federal Reserve will soon ease up on its aggressive interest rate hikes. Raphael Bostic, president and CEO of the Federal Reserve Bank of Atlanta, joined to CBS News for what this news means for the U.S. economy in 2023.
Stock market update & Big Tech layoffs
Stocks climbed Thursday after the latest Consumer Price Index report showed inflation slowing. But Big Tech companies are still going through a series of layoffs. Insider startups and VC reporter Samantha Stokes joined CBS News to discuss the latest on the economy.
Consumer Price Index rose 6.5%
Consumer Price Index rose 6.5% in the month of December. Javier David, managing editor of business and markets at Axios, joins CBS News with the significance of this report and overall health of the economy.
New inflation data expected as Fed weighs hike
The government is expected to release new inflation data Thursday. Lori Bettinger, the president of BancAlliance and a former director of the Troubled Asset Relief Program at the Treasury Department, joined CBS News after the closing bell on Wall Street to discuss the Federal Reserve's fight against inflation and how investors are reacting.
Fed eyes first rate hike of new year
The Federal Reserve is eyeing another interest rate hike, and experts say the increase could be just a quarter of a percentage point. Sultan Meghji, the former chief innovation officer at the Federal Deposit Insurance Corporation and a professor at Duke University's Pratt Engineering School, joins CBS News to discuss.
Top economist shares outlook for 2023
The U.S. saw solid gains in the labor market in December, but concerns about a possible recession still linger. Bank of America's chief economist Michael Gapen joins CBS News' Catherine Herridge with his economic forecast for 2023.
U.S. hiring remained resilient in December
New government data shows the U.S. added 223,000 jobs in December while unemployment fell to a 50-year low of 3.5%, as the Federal Reserve raises interest rates to the highest level in 15 years in an effort to cool the economy and tamp down inflation. Errol Barnett and Elaine Quijano break down the numbers with CBS News reporter Sarah Ewall-Wice.
U.S. added 223,000 jobs in December
CBS News contributor Javier David joined Anne-Marie Green and Vladimir Duthiers with to discuss the latest jobs report, which shows U.S. employers added 223,000 jobs in December.
U.S. jobless claims lowest since September
A new Labor Department report shows new jobless claims fell to 204,000 in the final week of 2022. That is the lowest number since September. But the numbers are not necessarily good news for the Federal Reserve as it tries to cool the economy. CBS News' Errol Barnett and Lana Zak are joined by Gregory Daco, chief economist at EY-Parthenon, to discuss the economic trends.
Looking for positive signs on economy
Investors are looking for any positive signs to bounce back from a down 2022 in the stock market. Chief investment officer Ahmed Riesgo of Insigneo joined CBS News to discuss where those signs might come from.
Poll: Trump starts on positive note as most approve of transition handling
Democrats say they're concerned or scared Trump will threaten their rights, but fewer than half feel motivated to oppose him.
Potential winter storms forecast across the U.S. on Thanksgiving week
Forecasters have warned of another round of winter weather that could complicate travel around the Thanksgiving holiday.
GOP senator blocks promotion of general involved in Afghanistan withdrawal
Lt. Gen. Christopher Donahue was slated to be promoted to a four-star rank and take command of the U.S. Army in Europe.
Israel says, rabbi killed in the UAE in "heinous antisemitic terror incident"
Zvi Kogan, 28, an ultra-Orthodox rabbi who went missing on Thursday, ran a Kosher grocery store in the futuristic city of Dubai.
Hyundai, Kia recall more than 208,000 electric vehicles over power loss issue
Car dealers will inspect and replace the control unit and a fuse if needed, as well as update software.
Singer-songwriter Khalid comes out as gay after being outed
The Grammy nominee, 26, posted a rainbow flag emoji and short statement, then added in another post that he had been "outted."
Trump picks former White House aide Brooke Rollins to lead the USDA
The sprawling U.S. Department of Agriculture controls policies, regulations and aid programs related to farming, forestry, ranching, food quality and nutrition.
Fred Harris, former senator and presidential candidate, dies at 94
It fell to Fred Harris, chair of the Democratic National Committee in 1969 and 1970, to help heal the party's wounds from the tumultuous national convention in 1968 when protesters and police clashed in Chicago.
2 killed in U.S. Civil Air Patrol plane crash in Northern Colorado
Two people were killed and a third was injured when a U.S. Civil Air Patrol plane crashed in Colorado's Front Range Saturday morning.
U.S.
More U.S.
Popular tortilla strips recalled over undeclared wheat allergen
Tortilla strips sold in grocery stores across the U.S. have been recalled due to concerns about an undeclared wheat allergen.
Serving up home-cooked dog food
In the U.S., commercially-produced pet food is a $50 billion a year industry. But some advocate for healthier meals for your beloved dog – food that's in line with what canines have eaten for thousands of years. How about some venison with squash?
Poll: Trump starts on positive note as most approve of transition handling
Democrats say they're concerned or scared Trump will threaten their rights, but fewer than half feel motivated to oppose him.
Potential winter storms forecast across the U.S. on Thanksgiving week
Forecasters have warned of another round of winter weather that could complicate travel around the Thanksgiving holiday.
Hyundai, Kia recall more than 208,000 electric vehicles over power loss issue
Car dealers will inspect and replace the control unit and a fuse if needed, as well as update software.
MoneyWatch
More MoneyWatch
Hyundai, Kia recall more than 208,000 electric vehicles over power loss issue
Car dealers will inspect and replace the control unit and a fuse if needed, as well as update software.
Who is Scott Bessent? What to know about Trump's Treasury secretary pick.
If confirmed, Bessent would runn the department that manages the nation's finances as well as its tax agency, the Internal Revenue Service.
Trump selects Scott Bessent for Treasury secretary
Scott Bessent, the founder of the Connecticut-based hedge fund Key Square Group, had been making a full-court press for the post.
Walmart must pay driver it accused of fraud $35 million, jury says
A jury ruled that Walmart must pay a former employee almost $35 million after finding that the retailer defamed him.
Eggs are getting scarcer and pricier ahead of the holidays. Here's why.
Highly Pathogenic Avian Influenza — also known as bird flu — is killing layer hens and reducing the nation's egg supply.
Politics
More Politics
Transcript: Sen. Rand Paul on "Face the Nation with Margaret Brennan," Nov. 24, 2024
The following is a transcript of an interview with Sen. Rand Paul, Republican of Kentucky, on "Face the Nation with Margaret Brennan" that aired on Nov. 24, 2024.
Transcript: Sen. Tammy Duckworth on "Face the Nation with Margaret Brennan," Nov. 24, 2024
The following is a transcript of an interview with Sen. Tammy Duckworth, Democrat of Illinois, on "Face the Nation with Margaret Brennan" that aired on Nov. 24, 2024.
Poll: Trump starts on positive note as most approve of transition handling
Democrats say they're concerned or scared Trump will threaten their rights, but fewer than half feel motivated to oppose him.
Fred Harris, former U.S. senator and presidential candidate, dies at 94
It fell to Fred Harris, chair of the Democratic National Committee in 1969 and 1970, to help heal the party's wounds from the tumultuous national convention in 1968 when protesters and police clashed in Chicago.
GOP senator blocks promotion of general involved in Afghanistan withdrawal
Lt. Gen. Christopher Donahue was slated to be promoted to a four-star rank and take command of the U.S. Army in Europe.
HealthWatch
More HealthWatch
A study to devise nutritional guidance just for you
When it comes to eating healthy, all of us respond to foods differently. The National Institutes of Health's new nutrition study hopes to finally provide Americans a personalized answer to the question: "What should I eat?"
A study to personalize nutrition guidance just for you
From the four food groups to the Food Pyramid, the U.S. government has long offered guidance to Americans hoping to eat a healthier diet. But there's growing scientific consensus that when it comes to eating healthy, all of us respond to foods differently. And to prove it, the National Institutes of Health has embarked on the most ambitious nutrition study ever, hoping to finally provide Americans a personalized answer to the question: "What should I eat?" Correspondent Lee Cowan reports.
New treatments offer hope for older patients with a deadly cancer diagnosis
Glioblastoma typically kills within 18 months, but a new type of treatment has kept Nadya El-Afandi's scans clear 17 months after diagnosis.
1 infant dead in California, 9 hospitalized in latest listeria outbreak
Laboratory findings show that Yu-Shang Food ready-to-eat meat and poultry products were making people sick, the CDC said.
E. coli outbreak in St. Louis sickens 106, hospitalizes 2
More than half of the cases involve students, parents and guests of Rockwood Summit High School who attended events where food from Andre's Banquets and Catering was served.
World
More World
Gazan chefs cook up hope and humanity for online audience
Ten-year-old Chef Renad (who's gained a following on Instagram) and Hamada Shaqoura (who relies on humanitarian aid and crude cooking arrangements) educate while preparing meals in war-torn Gaza.
U.S Air Force says drones spotted near 3 bases in England last week
The drones were spotted between Wednesday and Friday near RAF Lakenheath, RAF Mildenhall and RAF Feltwell.
Israel says, rabbi killed in the UAE in "heinous antisemitic terror incident"
Zvi Kogan, 28, an ultra-Orthodox rabbi who went missing on Thursday, ran a Kosher grocery store in the futuristic city of Dubai.
Nations at COP29 climate talks agree on $300 billion a year for poor countries
The $300 billion will go to developing countries who need the cash to wean themselves off coal, oil and gas.
Russia bans child adoption from countries that allow gender transition
The adoption ban would apply to at least 15 countries, most of them in Europe, and Australia, Argentina and Canada.
Entertainment
More Entertainment
What makes a martini a martini?
There are very few American inventions more American than the martini – a classic cocktail of gin and vermouth, garnished with lemon. But today, a martini's ingredients may be up for debate.
Mick Fleetwood plays to the future in Maui
Last year's horrific wildfires turned Lahaina into a disaster zone, and destroyed the Fleetwood Mac founder's club, Fleetwood's on Front Street. Today, Mick Fleetwood is determined to rebuild, saying, "There has to be music."
Mick Fleetwood plays to the future in Maui
As a young man, Fleetwood Mac founder Mick Fleetwood dreamed of a place – a club – where he could get his friends together. Twelve years ago, he made it happen in the west Maui city of Lahaina: Fleetwood's on Front Street. But last year's horrific wildfires turned Lahaina into a disaster zone, and destroyed his treasured club. Today, Fleetwood says he's determined to rebuild. Correspondent Tracy Smith reports.
"Sandwiches of History": Resurrecting sandwich recipes that time forgot
Every week on his blog, "Sandwiches of History," Barry Enderwick rescues sandwich recipes from the dustbin of history. He's now collected some of the unlikeliest (and even amazing) historical recipes in a cookbook.
Taste-testing "Sandwiches of History"
Every week on his blog, "Sandwiches of History," Barry Enderwick rescues sandwich recipes from the dustbin of history. Some of the unlikeliest (and even amazing) historical recipes are now collected in a cookbook. Enderwick is even traveling the country, workshopping sandwiches in front of a live audience. Correspondent Luke Burbank gets a taste.
Technology
More Technology
Technology
A new generation of shopping cart, with GPS and AI
At a Price Chopper outside Kansas City, shoppers are test driving the new Caper Cart, featuring digital screens, GPS, cameras equipped with artificial intelligence, and packaging scanners that spit out coupons. Correspondent Jonathan Vigliotti looks at the technology used to "reinvent the wheel" of the shopping cart.
Who has the best Black Friday tech prices?
Black Friday is almost here, but some of the hottest tech items are already on sale. CNET senior editor Lisa Eadicicco joins CBS News to discuss high-demand gifts and what retailers offer the best prices.
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.
AI grandma fights back against scammers
Daisy's mission is two-fold: To waste scammers' time so they can't speak to real people and to draw attention to fraud by warning consumers to be vigilant.
Australia could ban social media for kids
Australian legislators introduced a landmark bill Thursday to ban social media for children under 16. CBS News London's Leigh Kiniry reports on what this could mean for social media companies.
Science
More Science
Science
Dishing up space food
At the Johnson Space Food Systems Laboratory in Houston, NASA scientists develop dishes – freeze-dried, heat-stabilized, or irradiated – to serve on the International Space Station. Correspondent David Pogue checks out what's on the menu in Earth orbit.
How are U.S. winters permanently changing?
This winter, the National Oceanic and Atmospheric Administration predicted above-average temperatures throughout the U.S. because of a "slowly developing" La Niña pattern. CBS News Sacramento meteorologist Tracy Humphrey reports on the changing winter conditions.
Emperor penguin found on Australian beach released at sea after 20 days of care
The only emperor penguin known to have swum from Antarctica to Australia was released at sea 20 days after he waddled ashore on a popular tourist beach.
Iceland volcano flares in region's 7th eruption in one year
A volcano erupted in southern Iceland, near the town of Grindavík and the Blue Lagoon spa, marking the region's seventh eruption in a year.
How collecting pine cones helps renew Oregon forests after wildfires
Conservationists are teaming up with the U.S. Forest Service and logging companies to clear scorched land and make room for new reforestation projects.
Crime
More Crime
Fugitive Kaitlin Armstrong caught after answering ad for a yoga instructor
When cyclist Anna Moriah "Mo" Wilson was murdered in Texas, U.S. Marshals assigned to the case used a unique tactic to track down her suspected killer in Costa Rica and bring the fugitive to justice.
$20 million settlement reached in death of woman fatally shot by officer
Teresa Gomez, 45, was fatally shot in 2023 after a Las Cruces police officer on a bicycle approached her while she sat in a parked car with another person, authorities said.
Police chief kills himself as troops close in to arrest him in Mexico
The police chief killed himself with his own weapon as marines, National Guard and soldiers closed in to try to arrest him, prosecutors said.
U.S. accuses former Colombia general of extrajudicial killings
Former general Mario Montoya and his family are barred from traveling to the U.S., Secretary of State Antony Blinken said.
4.78 tons of cocaine, $193,000 in cash found in shipping containers
Prosecutors said eight people were detained following searches carried out in Belgium and the Netherlands earlier this month.
Space
More Space
Blue Origin launches 6 tourists to the edge of space
Marc and Sharon Hagle, both making their second space flight, were among the passengers for the NS-28 mission.
Blue Origin launches 9th space tourism flight
The ninth Blue Origin space tourism flight launched from West Texas Friday morning. CBS News space consultant Bill Harwood and space expert Scott Heidler offered analysis of the flight.
Trump, Musk attend SpaceX launch
President-elect Donald Trump attended SpaceX's sixth flight test of its Super Heavy-Starship on Tuesday with CEO Elon Musk. The burgeoning friendship between the two men played a key role in Trump's reelection, with Musk now set to run a government efficiency agency in the coming months. CBS News political reporter Jake Rosen and Politico aviation reporter Oriana Pawlyk join "America Decides" with more.
SpaceX launches Super Heavy-Starship, with Trump there to watch
President-elect Donald Trump was on hand with Elon Musk for the sixth test flight of SpaceX's huge Super Heavy-Starship rocket.
Far side of the moon once had erupting volcanoes, lunar soil shows
Researchers analyzed lunar soil brought back by China's Chang'e-6, the first spacecraft to return with a haul of rocks and dirt from the little-explored far side.
Latest Galleries
More Latest Galleries
Notable Deaths in 2024
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Serial killer Rodney Alcala's secret photos
See some of convicted serial killer Rodney Alcala's photographs that were discovered by detectives in a Seattle storage locker.
The troubled marriage of Ashley and Doug Benefield
The seesaw marriage between the former ballerina and her much older husband only lasted four years, until she shot him on Sept. 27, 2020.
Evidence in "The Dexter Killer" case
A look at the evidence in "The Dexter Killer" case; plus, newly revealed letters from the man police say wanted to be like fictional serial killer Dexter Morgan.
Summer music heats up 2024
Live performances are in full swing this summer. Scroll through our concert gallery, featuring pictures by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
Latest CBS News Videos
More Latest CBS News Videos
Latest CBS News Videos
Open: "Face the Nation with Margaret Brennan," Nov. 24, 2024
This week on "Face the Nation with Margaret Brennan," Sens. Rand Paul and Tammy Duckworth discuss President-elect Donald Trump's Cabinet picks after a busy week on Capitol Hill. Plus, Rep.-elect Sarah McBride, the first openly transgender person elected to Congress, joins.
Trump makes more Cabinet picks
President-elect Donald Trump announced more Cabinet picks this weekend, while CBS News polling shows that some of his highest-profile picks have more support among Americans than opposition. Nikole Killion reports.
Nature: Turkeys in South Dakota
We leave you this Sunday with some VERY happy turkeys, at South Dakota's Good Earth State Park. Videographer: Kevin Kjergaard.
What makes a martini a martini?
There are very few American inventions more American than the martini – a classic cocktail of gin and vermouth, garnished with lemon. But today, a martini's ingredients may be up for debate, with variations and proportions skewed to personal taste. "Sunday Morning" contributor Kelefa Sanneh looks at the history of the martini, with a twist.
Rediscovering the Baked Alaska
Few desserts are so shrouded in mystery as the enigmatic Baked Alaska. While it's thought people were eating baked ice cream dishes in the 19th century, the recipe for the dish that would become known as Baked Alaska was first published in 1894. Correspondent Luke Burbank looks at why this classic, paradoxical dessert that melds heat with frozen sweets continues to captivate.