Biden taps Michael Barr for Fed's bank regulation position
The president's first choice, Sarah Bloom Raskin, withdrew her nomination due to insufficient support in the Senate.
Federal Reserve
Deutsche Bank forecasts U.S. recession
Deutsche Bank is forecasting the U.S. will see a recession next year. The company's Global Head of Economic Research Peter Hooper spoke with CBS News' Tanya Rivero and Mola Lenghi about the new report.
Stock market reacts to interest rate hike
The Federal Reserve announced it will raise interest rates by a quarter percentage point to fight soaring gas prices and inflation. Trading expert Joe Saluzzi joined CBS News' Anne-Marie Green and Vladimir Duthiers to discuss how the stock market is reacting and what this means for our bank accounts.
Federal Reserve raises rates
CBS News business analyst Jill Schlesinger joins "CBS Mornings" to share what this increase in interest rates means for credit cards, auto loans and more.
MoneyWatch: Fed announces interest rate hike
The Federal Reserve announced a 0.25% interest rate hike -- the first increase since 2018. The Wall Street Journal's chief economics correspondent Nick Timiraos, author of "Trillion Dollar Triage: How Jay Powell and the Fed Battled a President and a Pandemic and Prevented Economic Disaster," joins CBS News to explain what this means for American consumers.
Federal Reserve raises interest rates
The Federal Reserve Board announced plans to raise interest rates a quarter-point in the first hike since 2018. New York Times Dealbook editor Stephen Gandel and Kroll Institute global chief economist Megan Greene join CBS News' Lana Zak and Enrique Acevedo with their insights on the breaking news.
How the Fed hiking interest rates could affect your wallet
Americans could soon pay more to borrow. One expert says it may be hard to give up the "easy money mentality."
Federal Reserve expected to raise interest rates
The Federal Reserve is expected to raise interest rates by a quarter point on Wednesday amid soaring inflation rates. Joe Glauber, a senior research fellow for the International Food Policy Research Institute, joins CBS News' Lana Zak and Enrique Acevado to discuss the Fed's plan and how it could affect rising food prices and related food insecurity.
Federal Reserve announces interest rate hike
The quarter-point hike is the first rate increase since 2018 as the central bank looks to rein in inflation.
MoneyWatch: Fed expected to raise interest rates
The Federal Reserve is set to raise interest rates for the first time since 2018 in a growing effort to combat soaring inflation. Greg Robb, economics editor of MarketWatch, joins "CBS News Mornings" with more on the potential impact.
Sarah Bloom Raskin withdraws nomination to Federal Reserve board
It isn't yet clear who will be nominated in her place.
Raskin nomination for Fed endangered by Manchin's opposition
His opposition could doom her confirmation prospects if Raskin can't pick up a Republican vote in the Senate.
El-Erian: Fed has "no good policy options"
Mohamed El-Erian, the chief economic adviser for Allianz, says the Federal Reserve can either raise interest rates and risk a recession, or allow inflation to continue to rise.
3/13: Kuleba, Georgieva, El-Erian
This week on "Face the Nation," we have the latest updates on the war in Ukraine as we hit day 18 of Russia’s invasion. We'll have the latest reporting from Ukraine and hear from its foreign minister, Dmytro Kuleba. Plus, we'll ask White House national security adviser Jake Sullivan what our options are at this critical time.
U.S. adds 678,000 jobs in February
Numbers released Friday show major job growth nationwide as COVID cases fall and states roll back restrictions. According to the Department of Labor, U.S. employers added 678,000 jobs in February, and the unemployment rate fell from 4% to 3.8%. Barclays chief U.S. economist Michael Gapen joined CBS News's Vladimir Duthiers and Anne-Marie Green to discuss the numbers.
Powell supports interest rate hike at March meeting
The Federal Reserve chairman said the effects of the invasion in Ukraine remain "highly uncertain."
For Black Americans, living longer impacts health and wealth
With the right financial choices, longer life expectancy can help goals like building wealth and passing it on to heirs come true, experts said.
Senate Republicans boycott Biden's Federal Reserve nominees
Republicans on the Senate Banking Committee skipped Tuesday's meeting, denying Democrats the quorum needed to advance Biden nominees.
Inflation hits highest level in 40 years
The Consumer Price Index climbed 0.6% in January, meaning the average cost of goods is up 7.5% since the same time last year. Meantime, first-time jobless claims fell for a third straight week. CBS News senior White House and political correspondent Ed O'Keefe has more on how the Biden administration is handling the latest economic news.
January jobs report better than expected
The January jobs report released Friday surpassed Wall Street projections, with 467,000 jobs added. Mike Pugliese, an economist at Wells Fargo, joins CBS News to break down the employment data and what it means for the U.S. economy.
Republicans take aim at Biden's Federal Reserve nominees at tense hearing
Sarah Bloom Raskin was pressed over climate change regulation.
MoneyWatch: Impact of higher interest
The Federal Reserve has signaled that it will be raising interest rates this year to help offset the increase in consumer goods brought on largely by the pandemic. But what does this mean for everyday Americans? CBS MoneyWatch reporter Aimee Picchi joins "CBS News Mornings" to discuss.
Report shows inflation up 5.8% in 2021
An economic analysis report shows a key inflation measure rose 5.8% last year, the highest it's been since 1982. Despite a big leap in the stock market numbers late Friday, major indexes are still down this year. Terry Haines, founder of Pangaea Policy, joins CBS News after the New York Stock Exchange's closing bell to break down how inflation is effecting the economy and what can be done to correct it.
Interest rates are set to rise. Here's how that will affect consumers.
Americans will soon face a double whammy: high inflation combined with pricier loans and credit card debt.
Fed appears poised for rate increase in March
Federal Reserve Chairman Jerome Powell said decisions on how often and by how much the rate increases this year have not been made.
Jack Smith seeks to dismiss charges against Trump in D.C. election case
Special counsel Jack Smith asked a federal judge to toss out the charges against President-elect Donald Trump in the case stemming from the 2020 election.
Illegal border crossings on track to reach new Biden-era low
President-elect Donald Trump, who ran on mass deportation and harsher immigration policies, could inherit a border that is relatively quiet.
Watch Live: White woman to be sentenced for fatally shooting Black neighbor
A white woman in Florida with a racist history will be sentenced on Monday for shooting and killing Ajike (A.J.) Owens, her Black neighbor, last year.
Menendez brothers set for court hearing today in bid for freedom
Erik and Lyle Menendez are set for a Monday court appearance after their lawyers requested that a judge review potential new evidence and consider resentencing in their first-degree murder convictions for the 1989 killings of their parents.
Microsoft 365 is experiencing an outage. Here's what to know.
Microsoft said it's investigating an issue impacting access to Microsoft 365 and its Teams app.
Special counsel seeks to end bid to revive documents case against Trump
Special counsel Jack Smith asked a federal appeals court to dismiss his appeal in the documents case against President-elect Donald Trump.
Charlotte airport workers strike at start of busy holiday travel week
Service workers at Charlotte Douglas International Airport have gone on strike at the start of a busy week of Thanksgiving travel to protest what they say are unlivable wages.
Biden participates in his final White House turkey pardon
President Biden pardoned two turkeys, Peach and Blossom that hail from Minnesota, where they will return.
Biden's legacy bookended by two Trump victories
Biden said four years of Trump would become an "aberrant moment in time." Now his presidency is wedged between his rival's time in power.
U.S.
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Arkansas couple saves dog's life, 85-year-old teacher inspires students
An Arkansas couple sacrifices their wedding fund to save an injured dog, while an 85-year-old teacher in New York continues to inspire generations of students with her passion for teaching.
Special counsel seeks to end bid to revive documents case against Trump
Special counsel Jack Smith asked a federal appeals court to dismiss his appeal in the documents case against President-elect Donald Trump.
Jack Smith seeks to dismiss charges against Trump in D.C. election case
Special counsel Jack Smith asked a federal judge to toss out the charges against President-elect Donald Trump in the case stemming from the 2020 election.
Watch Live: White woman to be sentenced for fatally shooting Black neighbor
A white woman in Florida with a racist history will be sentenced on Monday for shooting and killing Ajike (A.J.) Owens, her Black neighbor, last year.
Amazon workers in more than 20 countries plan Black Friday strikes
Workers at Amazon warehouses around the world plan to strike between Black Friday and Cyber Monday this week.
MoneyWatch
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Amazon workers in more than 20 countries plan Black Friday strikes
Workers at Amazon warehouses around the world plan to strike between Black Friday and Cyber Monday this week.
Macy's says an employee hid up to $154 million in delivery expenses
Macy's delays its quarterly earnings report after discovering that an accounting unit employee concealed delivery expenses.
Microsoft 365 is experiencing an outage. Here's what to know.
Microsoft said it's investigating an issue impacting access to Microsoft 365 and its Teams app.
Charlotte airport workers strike at start of busy holiday travel week
Service workers at Charlotte Douglas International Airport have gone on strike at the start of a busy week of Thanksgiving travel to protest what they say are unlivable wages.
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.
Politics
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Special counsel seeks to end bid to revive documents case against Trump
Special counsel Jack Smith asked a federal appeals court to dismiss his appeal in the documents case against President-elect Donald Trump.
Jack Smith seeks to dismiss charges against Trump in D.C. election case
Special counsel Jack Smith asked a federal judge to toss out the charges against President-elect Donald Trump in the case stemming from the 2020 election.
Biden's legacy bookended by two Trump victories
Biden said four years of Trump would become an "aberrant moment in time." Now his presidency is wedged between his rival's time in power.
Illegal border crossings on track to reach new Biden-era low
President-elect Donald Trump, who ran on mass deportation and harsher immigration policies, could inherit a border that is relatively quiet.
Biden participates in his final White House turkey pardon
President Biden pardoned two turkeys, Peach and Blossom that hail from Minnesota, where they will return.
HealthWatch
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As many as 1 in 5 people won't lose weight with GLP-1 drugs, experts say
About 20% of patients — as many as 1 in 5 — may not respond well to medications like Mounjaro and Wegovy, according to several obesity experts.
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.
World
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Lawmakers brawl over deadly train station roof collapse in Serbia
Scuffles and fistfights broke out weeks after a deadly rail station roof collapse that ignited tensions in the Balkan state.
Mystery of serial shoe robber solved when camera catches culprit
Police thought a shoe thief was on the loose at a kindergarten, until a security camera caught the furry culprit in action.
Chinese trans woman awarded thousands over forced electroshock therapy
Trans performance artist Ling'er says she was forced to undergo electroshock treatments at a hospital in China that left her with a heart condition.
Best-selling novelist Barbara Taylor Bradford dies at 91
Barbara Taylor Bradford was one of the world's most popular and wealthiest writers, her net worth estimated at more than $200 million.
17 people missing after Egyptian tour boat sinks on Red Sea diving trip
Authorities in Egypt say a luxury yacht that set off with 45 people from the Red Sea port of Ghalib for a week-long diving trip sank, with 28 rescued and 17 still missing.
Entertainment
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Entertainment
"Glicked" sweeps box office
"Wicked" lead the box office with $114 million, while "Gladiator II" earned $55 million in a record-setting pre-Thanksgiving weekend. The combined success marks the biggest pre-Thanksgiving weekend opening since the COVID-19 pandemic. Rebecca Rubin, a senior film and media reporter with Variety, has more.
"Wicked," "Gladiator II" soar at box office
While "Gladiator II" earned $55 million at the box office domestically, "Wicked" soared with $114 million. It was the biggest pre-Thanksgiving weekend opening since the COVID-19 pandemic, with the two movies earning the nickname "Glicked."
Best-selling novelist Barbara Taylor Bradford dies at 91
Barbara Taylor Bradford was one of the world's most popular and wealthiest writers, her net worth estimated at more than $200 million.
"Oregon Trail" computer game is now being developed as a movie
One of the most successful computer games of all time is currently being developed by Apple as a forthcoming movie.
Chuck Woolery, host of "Love Connection" and "Scrabble," dies at 83
Chuck Woolery was inducted into the American TV Game Show Hall of Fame in 2007 and earned a daytime Emmy nomination in 1978.
Technology
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Technology
How AI can help to plan your next vacation
More than one third of travelers says they've incorporated artificial intelligence into their travel planning, according to a recent survey. CBS News compared how efficient booking a trip with the help of AI is compared to doing the research yourself.
Microsoft 365 is experiencing an outage. Here's what to know.
Microsoft said it's investigating an issue impacting access to Microsoft 365 and its Teams app.
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.
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.
Science
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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
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Watch Live: White woman to be sentenced for fatally shooting Black neighbor
A white woman in Florida with a racist history will be sentenced on Monday for shooting and killing Ajike (A.J.) Owens, her Black neighbor, last year.
Arrest made after woman, baby shot dead in car in Connecticut
A suspect in the fatal shooting of a woman and her 4-month-old son inside a car in Hartford, Connecticut, was arrested in Puerto Rico, officials said.
Menendez brothers set for Monday court hearing in bid for freedom
Erik and Lyle Menendez are set for a Monday court appearance after their lawyers requested that a judge review potential new evidence and consider resentencing in their first-degree murder convictions for the 1989 killings of their parents.
Menendez Brothers to appear in court
Erik and Lyle Menendez, who are serving life sentences for the 1989 murder of their parents, will appear virtually in court Monday for a hearing addressing the brothers' habeas corpus petition that seeks to vacate their murder convictions for lesser charges like manslaughter. CBS News correspondent Elise Preston has the latest.
Venezuelan gangs trying to recruit kids from migrant families, NYPD says
There is growing concern among the police over an increase in Venezuelan gang activity across New York City.
Space
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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
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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
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Latest CBS News Videos
Trump team reacts to Smith's motion to dismiss
Donald Trump's communication director Steven Cheung is reacting to news of special counsel Jack Smith filing to dismiss the charges against the president-elect stemming from an alleged scheme to interfere in the 2020 election. CBS News' Nikole Killion reports.
Smith seeks to dismiss Trump charges
Special counsel Jack Smith has filed a motion to dismiss the charges against President-elect Donald Trump stemming from an alleged scheme to subvert the transfer of power after the election in 2020. Nancy Cordes anchored CBS News' special report on the legal development.
Judge to hear arguments over Infowars sale
Alex Jones will be back in court Monday as he tries to block satirical news outlet The Onion from buying Infowars. The Onion acquired Infowars in a bankruptcy auction that Jones says was rigged. CBS News correspondent Janet Shamlian has the latest.
Menendez Brothers back in court: What to know
Lyle and Erik Menendez will appear virtually at a status hearing Monday with calls growing for the brothers to have their sentences reduced for the 1989 killings of their parents. CBS News correspondent Elise Preston has more.
Report: Russia captures U.K. national
A British national fighting with Ukrainian forces has reportedly been captured by the Russian military. If confirmed, it would be the first publicly known case of a Western national captured on Russian soil while fighting for Kyiv. CBS News senior national security correspondent Charlie D'Agata has the latest on the war.