Fed holds interest rates steady as inflation remains above 2%
The Federal Reserve opted to leave its benchmark interest rate unchanged in its first policy meeting since President Trump's inauguration.
Federal Reserve
The Federal Reserve should resist pressure from Trump, experts say
President Trump has said he will "demand" lower interest rates, raising questions about his ability to influence the Federal Reserve.
Fed expected to leave rates unchanged
The Federal Reserve on Wednesday will make its first interest rate decision of the second Trump administration with economists predicting rates will remain unchanged. CBS News business analyst Jill Schlesinger has more.
Fed to make next interest rate decision
On Wednesday, the Federal Reserve will make its first interest rate decision since President Trump took office. CBS News business analyst Jill Schlesinger joins "CBS Mornings" to discuss what to expect.
Here's the financial impact of the Fed's pause on rate cuts
The Fed held off on another rate cut at its Jan. 29 meeting. Here's what it means for your finances.
Breaking down Trump's tariff threat at Davos
President Trump on Thursday threatened world leaders with tariffs at the World Economic Forum in Davos, Switzerland, if they don't make their products in the U.S. David Wessel, senior fellow in economic studies at the Brookings Institution, joins "America Decides" to examine Trump's remarks.
Trump to inherit 5-month high inflation rate
President-elect Donald Trump is set to inherit inflation at a 5-month high. According to the Labor Department, consumer prices rose 2.9% year-over-year and 0.4% month-over-month in December, the largest gains in overall prices in months. CBS News MoneyWatch correspondent Kelly O'Grady joins "America Decides" to break down the new numbers.
CPI edged higher in December, complicating the Fed's rate decision
Inflation is proving stickier than expected, which could cause Fed to hit pause button on more interest rate cuts.
Stock market plunges after December jobs report
The Labor Department reported Friday that 265,000 jobs were added to the U.S. economy in December, which was roughly 100,000 more than expected. The unemployment rate also fell to 4.1%. CBS News contributor Javier David explains why investors see the better-than-expected jobs report as a bad thing.
Where are mortgage, CD and credit card rates heading in 2025?
The Fed has been pushing down borrowing cuts since September, yet mortgage rates remain close to 7%. Here's what to expect in 2025.
What is the state of the job market?
The number of Americans applying for unemployment benefits fell slightly last week. Meanwhile, the average 30-year mortgage rate hit 6.85%, the highest since July. CBS News contributor Javier David breaks it down.
The impact of sticky inflation on Americans
2024 was a departure from the high inflation numbers of just two years ago, but the fight against rising prices is not over. CBS News MoneyWatch correspondent Kelly O'Grady looks back on the biggest economic and business stories of the year.
Mortgage rates increase despite Fed's rate cut
The Federal Reserve announced its third interest rate cut of the year this week. But despite the good news for consumers, mortgage rates are still rising. Bankrate senior industry analyst Ted Rossman joins "The Daily Report" to discuss.
Federal Reserve slashes rates again
The Federal Reserve said it is lowering rates by a quarter of a percentage point on Wednesday, marking a full percentage point drop since September. CBS News business analyst Jill Schlesinger explains the impact on your finances.
Dow plunges after Powell's comments on rate cuts
The Dow Jones Industrial Average fell more than 1,100 points Wednesday. Earlier in the day, the Federal Reserve lowered its benchmark rate a quarter-point. However, the precipitous drop in stock markets came after Federal Reserve Chairman Jerome Powell's remarks that the Fed may not slash rates in 2025 as much as had initially been projected. Kelly O'Grady explains.
The Fed's rate cuts impact on Americans
The Federal Reserve announced its third consecutive interest rate cut of the year on Wednesday, cutting its benchmark rate by a quarter point. Interest rates have now been slashed by a full percentage point since September. CBS News contributor Javier David breaks down its impact.
Fed makes final 2024 interest rate decision
The Federal Reserve cut interest rates Wednesday for the third consecutive month, slashing rates by a quarter percentage point. It was the Fed's final rate decision before the inauguration of President-elect Donald Trump, who has been a longtime critic of Federal Reserve Chairman Jerome Powell. CBS News MoneyWatch correspondent Kelly O'Grady joins to break down the move.
Jerome Powell on U.S. economy after cut
The Federal Reserve's Jerome Powell weighed in on the state of the U.S. economy after announcing another cut to the interest rate. CBS News business analyst Jill Schlesinger has more on what's expected next.
Federal Reserve cuts interest rate again
The Federal Reserve announced another interest rate cut, reducing its benchmark rate by .25 percentage points. CBS News business analyst Jill Schlesinger has more on the move.
Fed lowers rates by 0.25 percentage point, but expects fewer cuts
The Federal Reserve on Wednesday moved to lower its benchmark rate by 0.25 percentage points, but said it plans fewer cuts in 2025.
Federal Reserve decision coming
The Federal Reserve is set to announce a potential reduction to the interest rate, its final potential move in 2024. CBS News' Kelly O'Grady has more on what's expected.
Fed expected to make another rate cut
CBS News business analyst Jill Schlesinger speaks with "CBS Mornings" about what to expect and the impact of the Federal Reserve's final interest rate decision of 2024, which happens Wednesday.
Fed expected to make another interest rate cut
The Federal Reserve on Wednesday will make its final interest rate decision of 2024 with a 0.25 percentage point cut expected. CBS News MoneyWatch correspondent Kelly O'Grady has more.
Here's how the Fed's interest rate cut today could impact your money
The Federal Reserve announced a third rate cut today, but also cautioned it expects fewer cuts in 2025.
Why Wall Street is anticipating Trump's term
President-elect Donald Trump returned to his hometown of New York City on Thursday to ring the opening bell at the New York Stock Exchange. Wall Street investors seem to have embraced the incoming administration as all three major indexes have hit record highs since Election Day. CBS News MoneyWatch correspondent Kelly O'Grady breaks it down.
U.S. exempts smartphones, computers from global Trump tariffs
The exemptions, published late Friday in a notice by the U.S. Customs and Border Protection office, cover various electronic goods, including smartphones.
Iran, U.S. nuclear talks to continue next week, Iranian state TV reports
Iranian Foreign Ministry spokesman Esmail Baghaei wrote on X that the "indirect talks" had begun.
Florida universities partnering with ICE on immigration enforcement
Multiple higher education institutions in the state of Florida are partnering with ICE on immigration enforcement, including University of Florida.
Ecuador imposes state of emergency before razor-close election
Ecuador declared a state of emergency Saturday in seven of its 24 provinces, including the capital Quito, saying it was needed to fight a dramatic rise in drug-linked violence.
Police identify victims, including teen, in Boca Raton plane crash
Police identified the three people killed in a small plane crash in Boca Raton. One other person was injured.
Tech CEO allegedly defrauded investors lured by AI of $40 million, feds say
The nate app was not powered by advanced AI technology at all, but by human workers, according to the indictment.
Trump administration vows release of RFK assassination files within days
The Trump administration could release files on the assassination of Robert F. Kennedy — the U.S. health secretary's father — within days, after decades of public fascination about the killing.
Temple students surprised after human remains, bone fragments discovered on campus
Students were shocked after human remains and bone fragments were discovered at a construction site on campus on Friday.
Pastor abducted at gunpoint while delivering sermon
Pastor Josh Sullivan was holding a prayer meeting with about 30 people, including his wife and six children, when the gunmen entered the church, his colleague said.
U.S.
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Florida universities partnering with ICE on immigration enforcement
Multiple higher education institutions in the state of Florida are partnering with ICE on immigration enforcement, including University of Florida.
Prize money at the Masters golf tournament goes up by $1 million
The winner of the Masters will receive $4.2 million and the signature green jacket.
U.S. intelligence report favors incumbent Ecuadorian president in election
Ahead of the Ecuadorian presidential elections Sunday, CBS News has learned a U.S. intel assessment favors the incumbent president, viewing him as better for U.S. interests.
Trump authorizes military to take control of public land along southern border
President Trump justified the use of the military by saying the United States is "under attack from a variety of threats."
FDA to replace laid-off employees with contractors, sources say
Steep cuts to the agency's workforce had disrupted drug and food safety inspections.
MoneyWatch
More MoneyWatch
Prize money at the Masters golf tournament goes up by $1 million
The winner of the Masters will receive $4.2 million and the signature green jacket.
U.S. exempts smartphones, computers from global Trump tariffs
The exemptions, published late Friday in a notice by the U.S. Customs and Border Protection office, cover various electronic goods, including smartphones.
Los Angeles-area residents crowdsource wildfire contamination data
Some people whose homes survived the Eaton wildfire in January are struggling to convince their insurers to test their properties for safety.
U.S. consumer sentiment plunges in April as trade war fuels anxiety
Consumer sentiment fell sharply in April for the fourth straight month as the trade war fuels worries about inflation and employment.
Jamie Dimon says U.S. economy faces "considerable turbulence"
JPMorgan CEO Jamie Dimon warns that tariffs are likely to boost inflation, while urging the Trump administration to strike trade deals.
Politics
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Trump administration vows release of RFK assassination files within days
The Trump administration could release files on the assassination of Robert F. Kennedy — the U.S. health secretary's father — within days, after decades of public fascination about the killing.
U.S. intelligence report favors incumbent Ecuadorian president in election
Ahead of the Ecuadorian presidential elections Sunday, CBS News has learned a U.S. intel assessment favors the incumbent president, viewing him as better for U.S. interests.
Trump authorizes military to take control of public land along southern border
President Trump justified the use of the military by saying the United States is "under attack from a variety of threats."
FDA to replace laid-off employees with contractors, sources say
Steep cuts to the agency's workforce had disrupted drug and food safety inspections.
NOAA could face 25% budget cut, slashing climate research, in draft proposal
An internal government document proposes significant changes for the National Oceanic and Atmospheric Administration, hitting its research functions hardest.
HealthWatch
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After amputation, losing more of her leg was the only way to help her walk
Dr. Omri Ayalon helped Tracey White recover her ability to walk. Then he joined her for a milestone moment.
FDA to replace laid-off employees with contractors, sources say
Steep cuts to the agency's workforce had disrupted drug and food safety inspections.
Woman believed to be the only person with unnamed genetic disorder
Enriquez lives with chronic kidney disease, neurofibromatosis, which causes tumors to form, scoliosis and Raynaud's phenomenon, causing temporary spasms of blood vessels. On top of all that, she has an unnamed genetic disorder,
Former top FDA official warns RFK Jr. against giving "false hope" on autism
"You can be incredibly supportive of people, but giving them false hope is wrong," said Dr. Peter Marks.
Weekly measles cases top 90 in U.S. for first time in years
Arkansas, Hawaii and Indiana have joined a list of two dozen states with confirmed measles cases.
World
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At least 100 people killed in attacks in Sudan's Darfur, UN official says
A United Nations official in Sudan says at least 100 people, including 20 children and nine aid workers, have been killed in a two-day offensive by a notorious paramilitary group.
Ecuador imposes state of emergency before razor-close election
Ecuador declared a state of emergency Saturday in seven of its 24 provinces, including the capital Quito, saying it was needed to fight a dramatic rise in drug-linked violence.
Iran, U.S. nuclear talks to continue next week, Iranian state TV reports
Iranian Foreign Ministry spokesman Esmail Baghaei wrote on X that the "indirect talks" had begun.
Sandstorms, high winds prompt Beijing to cancel hundreds of flights
Homes were damaged, cars were crushed and trees fell after windy weather and sandstorms in Beijing on Saturday, prompting flight cancellations.
Penguin in cardboard box led to South Africa helicopter crash, report says
The pilot and three passengers aboard the helicopter, as well as the penguin, were uninjured, according to an incident report.
Entertainment
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Entertainment
Tetris' global success
Tetris is one of the best-known video games of all time — but that wasn't always the case. Video game publisher Henk Rogers recounts the game's journey to success and his own personal experiences with it in his new book "The Perfect Game."
Author Jennifer Weiner talks new novel
Jennifer Weiner has penned 22 books, and her latest, "The Griffin Sisters' Greatest Hits," tells the story of a former pop duo trying to find their way back to each other. Weiner's novels are known for complex, strong, relatable protagonists, and her characters leap off the page. She sat down with Dana Jacobson to talk about her career and newest book.
Dawes performs "Still Strangers Sometimes"
Just six weeks after Dawes released their new studio album "Oh Brother," brothers Taylor and Griffin Goldsmith lost their homes in the Los Angeles wildfires. They balanced high-profile TV appearances with picking up the pieces, even appearing to open the Grammy Awards. They returned to touring life this week, starting with their emotional return visit to Saturday Sessions. From "Oh Brother," here is Dawes with "Still Strangers Sometimes."
Dawes performs "Time Spent in Los Angeles"
Just six weeks after Dawes released their new studio album "Oh Brother," brothers Taylor and Griffin Goldsmith lost their homes in the Los Angeles wildfires. They balanced high-profile TV appearances with picking up the pieces, even appearing to open the Grammy Awards. They returned to touring life this week, starting with their emotional return visit to Saturday Sessions. From their 2011 album "Nothing Is Wrong," here is Dawes with a new version of their song "Time Spent in Los Angeles."
Dawes performs "Front Row Seat"
Just six weeks after Dawes released their new studio album "Oh Brother," brothers Taylor and Griffin Goldsmith lost their homes in the Los Angeles wildfires. They balanced high-profile TV appearances with picking up the pieces, even appearing to open the Grammy Awards. They returned to touring life this week, starting with their emotional return visit to Saturday Sessions. From "Oh Brother," here is Dawes with "Front Row Seat."
Technology
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Tech CEO allegedly defrauded investors lured by AI of $40 million, feds say
The nate app was not powered by advanced AI technology at all, but by human workers, according to the indictment.
iPhones likely to cost more amid tariffs
President Trump's tariffs on China could make Apple iPhones more expensive. China announced Friday it's raising tariffs on U.S. goods to 125% after Mr. Trump increased reciprocal tariffs on some Chinese products to 145%. Tech journalist Yasmin Khorram reports.
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.
Apple airlifts iPhones out of India to avoid Trump tariffs, report says
Apple's move to avoid China tariffs had been in the works for months, according to report citing Indian government officials.
Meta whistleblower: Facebook worked with Chinese government to censor posts
Meta whistleblower Sarah Wynn-Williams testified Wednesday afternoon before the Senate Judiciary Subcommittee on Crime and Counterterrorism.
Science
More Science
Can climate change really create zombie fungi, like in "The Last of Us"?
As the HBO series "The Last of Us" returns, fans wonder: How much of the chilling storyline about a fungal zombie pandemic is rooted in reality?
NOAA could face 25% budget cut, slashing climate research, in draft proposal
An internal government document proposes significant changes for the National Oceanic and Atmospheric Administration, hitting its research functions hardest.
Ancient jawbone found in sea linked to mysterious human ancestors
Relatively little is known about Denisovans, an extinct group of human cousins that interacted with Neanderthals and Homo sapiens.
Scientists map part of a mouse's brain that's so complex it looks like a galaxy
Thanks to a mouse watching clips from "The Matrix," scientists have created the largest functional map of a brain to date.
Ancient altar found in jungle apparently used for child sacrifices
The discovery shows the cultural interaction between the Maya of Tikal and Teotihuacan's elite between 300 and 500 A.D., archaeologists said.
Crime
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Tech CEO allegedly defrauded investors lured by AI of $40 million, feds say
The nate app was not powered by advanced AI technology at all, but by human workers, according to the indictment.
Idaho autistic teen has died after police shooting, family says
Victor Perez, a 17-year-old autistic teen with cerebral palsy, was shot nine times by Pocatello police officers in Idaho.
Maryland law school reflects on Freddie Gray's death, looks at what work still needs to be done
It's almost been ten years since Freddie Gray died, and an event in downtown Baltimore Friday aimed to not only remember him but also remember what needs to be done when it comes to ensuring fair policing.
Convicted killer mistakenly released from jail is caught 2 weeks later
Kathan Guzman was mistakenly released from a jail in Clayton County, Georgia, officials said. He was arrested in Florida.
Monica Sementilli found guilty of murder in plot to kill prominent LA hairdresser
The 10-man, two-woman jury began deliberations in Monica Sementilli's trial on Wednesday, and by Friday morning, the guilty verdict was announced.
Space
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Space
Gayle King prepares for Blue Origin launch
Blue Origin's latest flight will become the first mission to have an all-female crew in space in just two days. Aboard the ship will be "CBS Mornings" host Gayle King. Co-host Vlad Duthiers opened up about how King is feeling ahead of the launch.
Gayle King prepares for Blue Origin space flight
CBS Mornings host Gayle King is preparing to blast off into space Monday on board a historic all-female Blue Origin space flight. CBS News senior national correspondent Mark Strassman reports.
Space tourism is establishing a new frontier in travel
Private companies have launched nearly 120 civilians to the edge of space.
Gayle King hopes to inspire others with historic flight to space
"CBS Mornings" co-host Gayle King spoke about the opportunity to travel to space, the support she's received and the message she hopes to send to others.
Meet the Blue Origin crew Gayle King is joining on trip to space
Here's a look at the women expected to join Blue Origin's upcoming mission, which has a target launch date of Monday, April 14, and what they have to say about the epic journey.
Latest Galleries
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"Hands Off!": Americans across country protest Trump, Musk
Hundreds of thousands took to the streets, in Washington, D.C. and other cities across the United States, in opposition to the policies of Donald Trump, in the largest protests since he returned to the presidency.
Notable Deaths in 2025
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Husband pieces together wife's last movements to find out how she was killed
A look into a grieving husband Jan Cilliers' investigative work after his wife Christy Giles and her friend Hilda Marcela Cabrales died after a night out.
The Scott Peterson case: New evidence?
Peterson's death sentence for the murder of his pregnant wife Laci has been overturned. Now his supporters are pushing for a complete retrial.
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.
Latest CBS News Videos
More Latest CBS News Videos
Latest CBS News Videos
Tetris' global success
Tetris is one of the best-known video games of all time — but that wasn't always the case. Video game publisher Henk Rogers recounts the game's journey to success and his own personal experiences with it in his new book "The Perfect Game."
Author Jennifer Weiner talks new novel
Jennifer Weiner has penned 22 books, and her latest, "The Griffin Sisters' Greatest Hits," tells the story of a former pop duo trying to find their way back to each other. Weiner's novels are known for complex, strong, relatable protagonists, and her characters leap off the page. She sat down with Dana Jacobson to talk about her career and newest book.
Dawes performs "Still Strangers Sometimes"
Just six weeks after Dawes released their new studio album "Oh Brother," brothers Taylor and Griffin Goldsmith lost their homes in the Los Angeles wildfires. They balanced high-profile TV appearances with picking up the pieces, even appearing to open the Grammy Awards. They returned to touring life this week, starting with their emotional return visit to Saturday Sessions. From "Oh Brother," here is Dawes with "Still Strangers Sometimes."
Dawes performs "Time Spent in Los Angeles"
Just six weeks after Dawes released their new studio album "Oh Brother," brothers Taylor and Griffin Goldsmith lost their homes in the Los Angeles wildfires. They balanced high-profile TV appearances with picking up the pieces, even appearing to open the Grammy Awards. They returned to touring life this week, starting with their emotional return visit to Saturday Sessions. From their 2011 album "Nothing Is Wrong," here is Dawes with a new version of their song "Time Spent in Los Angeles."
Dawes performs "Front Row Seat"
Just six weeks after Dawes released their new studio album "Oh Brother," brothers Taylor and Griffin Goldsmith lost their homes in the Los Angeles wildfires. They balanced high-profile TV appearances with picking up the pieces, even appearing to open the Grammy Awards. They returned to touring life this week, starting with their emotional return visit to Saturday Sessions. From "Oh Brother," here is Dawes with "Front Row Seat."