5 key takeaways from the Federal Reserve's jumbo rate cut
The Federal Reserve made a 0.50 percentage point cut, double the typical reduction. Here's what's behind the decision.
Federal Reserve
Fed cuts interest rates, what happens now?
The Federal Reserve on Wednesday announced an interest rate cut of 0.5%, bringing rates down from their previous 23-year high. CBS News contributor Javier David has more on what that means for you.
Why the Fed cut rates for first time in 4 years
The Federal Reserve cut interest rates by half a percentage point Wednesday after introducing several rate hikes throughout the pandemic. Martin Baccardax, chief markets correspondent for TheStreet, joins CBS News to explain the Fed's move.
Federal Reserve enacts first rate cut since 2020
The Federal Reserve lowered interest rates by half a percentage point Wednesday, more than expected. It's the first rate cut since the pandemic in 2020, and the largest cut since the 2008 financial crisis. Jo Ling Kent has more on what the move means.
Fed cuts rates in final stretch of 2024 race
The Federal Reserve lowered interest rates by half a percentage point on Wednesday, its first cut in more than four years. The decision came on a busy day for the Trump and Harris campaigns. CBS News' Jo Ling Kent, Nikole Killion and Aaron Navarro have the latest.
Biden economic adviser unpacks Fed rate cut
The Federal Reserve reduced its benchmark interest rate for the first time in more than four years on Wednesday. The move will directly impact the finances of millions of Americans. Jared Bernstein, chair of the White House Council of Economic Advisers, joins "America Decides" to discuss.
Federal Reserve cuts interest rates
The Federal Reserve has announced a cut to interest rates by 0.50 percentage points. This is the first cut to its benchmark interest rate since March 2020. CBS News business analyst Jill Schlesinger and Al Root, an associate editor at Barron's, break down the news.
Fed lowers rates by 0.50 percentage points, its first cut since 2020
The Fed's decision will lower borrowing costs from a 23-year high as the central bank pivots to shoring up economic growth.
Interest rates expected cut from the Fed
The Federal Reserve is expected to announce the first interest rate cut since 2020. CBS News business analyst Jill Schlesinger breaks down what economists predict may occur during today's announcement.
Previewing the Fed decision on rate cuts
The Federal Reserve is expected to cut interest rates Wednesday for the first time in four years, but how big could the cut be? CBS News contributor Javier David has a preview of the decision.
Here's how the Fed's rate cut could impact your credit card balance
The Fed has slashed borrowing costs for the first time in more than four years. Here's how that would impact people with credit card balances.
Here's how the Fed's rate cut today may impact your finances
The Federal Reserve just lowered its benchmark rate by 0.50 percentage points. Here's how the move could impact your finances.
PPI data meets expectations
Wall Street opened with a bumpy start Thursday after the producer price index in August rose in line with expectations. CBS News contributor Javier David discusses how the data might affect the Federal Reserve's interest rate decision next week.
U.S. inflation drops to lowest level in years
Inflation cooled further in August, falling to a three-year low and cementing views that the Federal Reserve will soon start cutting interest rates. Martin Baccardax, senior editor and chief markets correspondent for the Street, joins to discuss.
Inflation eases ahead of expected rate cuts
The inflation rate dropped to 2.5% in August, according to the latest data from the Labor Department, a further sign that the Federal Reserve will enact interest rate cuts when it meets next week. Jo Ling Kent has details.
High prices despite cooling inflation
The Federal Reserve could cut interest rates during its Sept. 18 meeting after months of no change. CBS News business analyst Jill Schlesinger breaks down why consumer prices remain high despite inflation dropping to its lowest level since early 2021.
August CPI report shows 0.2% inflation rise
The Consumer Price Index rose 0.2% in August, the same as July, putting the 12-month inflation rate at 2.5%. CBS News contributor Javier David has a look at the numbers and what they might mean for interest rates.
Jobs report falls short of expectations
The U.S. added 142,000 jobs in August, the Labor Department reported Friday, which was below forecasts, although the unemployment rate ticked down to 4.2%. Economists still overwhelmingly anticipate an interest rate cut from the Federal Reserve in mid-September. Jo Ling Kent has details.
U.S. employers add 142,000 jobs in August
The U.S. added 142,000 jobs in August, slightly below economists' expectations while unemployment decreased from 4.3% to 4.2%. CBS News business analyst Jill Schlesinger has more on what that means for the Federal Reserve's upcoming decision on interest rates.
Will the Federal Reserve cut rates?
The Federal Reserve is expected to cut interest rates in September as inflation appears to cool. CBS News contributor Javier E. David has more on what to expect.
Powell signals interest rate cuts coming
Federal Reserve Chair Jerome Powell signaled Friday that the economy is ready for interest rate cuts, a move economists have been expecting will take place in September. CBS News contributor Javier E. David has more.
Goolsbee: It isn't a "certainty" that Fed will lower interest rates
Austan Goolsbee, the president and CEO of the Federal Reserve Bank of Chicago, tells "Face the Nation with Margaret Brennan," that he doesn't think it's a "certainty" that the Federal Reserve will lower interest rates in September. "We've been making clear for a while what economic conditions would be appropriate for us to cut rates, for us to hold rates where and they are and things like that."
Inflation drops below 3% for first time since 2021
The Labor Department reported Wednesday that consumer prices rose just 2.9% in July, the first time the year-over-year inflation rate has dropped below 3% since March of 2021. However, despite the good economic data, for many Americans monthly expenses such as rent, auto insurance and electricity remain stubbornly high. Jo Ling Kent reports.
Consumers saying "enough's enough" is helping to tame inflation
The great inflation spike of the past three years is nearly spent - and economists credit American consumers themselves for helping to slay it.
What the Federal Reserve is likely to do after stock selloff
A stock market rout and slower economic growth could soon lead to lower borrowing costs. Here's what experts think the Fed will do with interest rates.
Biden signs 50 bills into law on Christmas Eve
Among the new laws signed by President Biden are Paris Hilton's bill to protect institutionalized teenagers and a bill to address hazing on college campuses.
Pope welcomes Christmas at newly restored St. Peter's Basilica
New renovations and AI-powered digital tours offer visitors a chance to see the historic site ahead of the 2025 Jubilee Year.
Biden signs defense bill, despite ban on transgender health care for military kids
President Biden has signed the annual defense authorization bill into law.
Bill Clinton discharged from hospital after being treated for flu
Former President Bill Clinton was released from a hospital in Washington. D.C., on Christmas Eve, following an overnight stay for treatment of a fever and flu.
Suspect who allegedly set woman on fire in subway fanned flames, prosecutors say
Authorities are revealing more details surrounding the killing of a woman who was set on fire while sleeping on the New York City subway.
Mega Millions jackpot hits $1 billion for Christmas Eve drawing
A Mega Millions player may win a big jackpot on Christmas Eve. The lottery prize for the December drawing is at an $1 billion.
2 fishermen missing after boat crashes off Southern California coast
The 25-foot boat was found crashed and overturned in a rocky area at the base of the cliffs between Bluff Cove and Lunada Bay in Palos Verdes Estates.
At least 2 journalists killed in shooting during hospital reopening in Haiti
The suspected gang attack occurred when journalists were covering the reopening of Port-au-Prince's biggest public hospital on Christmas Eve.
Russian cargo ship sinks in Mediterranean after engine room blast
The ship sank in the Mediterranean Sea between Spain and Algeria following an explosion in the engine room, officials said.
U.S.
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Hanukkah this year starts on Christmas Day in rare occurrence
The eight-day Jewish holiday of Hanukkah starts on Christmas Day in 2024, an occurrence that happens very infrequently.
Biden signs 50 bills into law on Christmas Eve
Among the new laws signed by President Biden are Paris Hilton's bill to protect institutionalized teenagers and a bill to address hazing on college campuses.
Bill Clinton discharged from hospital after being treated for flu
Former President Bill Clinton was released from a hospital in Washington. D.C., on Christmas Eve, following an overnight stay for treatment of a fever and flu.
Biden signs defense bill, despite ban on transgender health care for military kids
President Biden has signed the annual defense authorization bill into law.
Starbucks strike shuts down hundreds of locations
More than 5,000 workers were expected to take part in walkout that ends later on Christmas Eve, their union says.
MoneyWatch
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Starbucks strike shuts down hundreds of locations
More than 5,000 workers were expected to take part in walkout that ends later on Christmas Eve, their union says.
Netflix carrying 2 NFL games on Christmas Day. It's a big step.
Netflix will have one of its biggest days Wednesday since the site launched in 1998 when it airs two NFL games for the first time.
What's open on Christmas Eve 2024? Stores you can visit today.
Here's which food stores, restaurants and other chains are open and closed today, Christmas Eve 2024.
Panel fails to reach consensus on national security risk of U.S. Steel sale
A government panel has failed to reach consensus on the possible national security risks of a nearly $15 billion proposed deal for Nippon Steel to purchase U.S. Steel.
CTA may require business owners to register with FinCEN before Jan. 13
The Corporate Transparency Act, or CTA, requires some businesses to register with FINCEN next month, or face fines. Here's what to know.
Politics
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Biden signs 50 bills into law on Christmas Eve
Among the new laws signed by President Biden are Paris Hilton's bill to protect institutionalized teenagers and a bill to address hazing on college campuses.
Bill Clinton discharged from hospital after being treated for flu
Former President Bill Clinton was released from a hospital in Washington. D.C., on Christmas Eve, following an overnight stay for treatment of a fever and flu.
Biden signs defense bill, despite ban on transgender health care for military kids
President Biden has signed the annual defense authorization bill into law.
Key parts of Arkansas law allowing criminal charges vs. librarians struck down
A federal judge struck down key parts of an Arkansas law that would have allowed criminal charges against librarians and booksellers for providing "harmful" materials to minors.
Biden vetoes 66 new federal judgeships, blames "hurried action" by House
President Biden vetoed an effort to add 66 federal district judgeships, saying "hurried action" by the House left important questions unanswered.
HealthWatch
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HealthWatch
Expert tips to support your immune system
With flu levels rising, Dr. Rabia De Latour shares ways to support your immune system and stay healthy during the holidays.
How to stay healthy during holiday gatherings
Seasonal illnesses are increasing just days away from the holidays. The CDC reports positive flu tests are up 9% in the most recent week and cases of whooping cough are six times last year's rate. Dr. Susannah Hills, an ear, nose and throat specialist at Columbia University Medical Center, explains how to stay safe.
Are you contagious? Here's when you're most likely to spread COVID, flu, RSV
How long are you contagious after getting COVID, flu, RSV, pneumonia and more? Here's what to know to keep others safe this holiday season.
Health care AI, intended to save money, requires expensive humans
Despite the hype over artificial intelligence in medicine, the systems require consistent monitoring and staffing to put in place and maintain.
CDC releases concerning new flu numbers
Thirteen states reported "high" or "very high" levels of flu-like illness last week, according to the U.S. Centers for Disease Control and Prevention. That's double the number of states from the week before. Ali Bauman reports.
World
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At least 2 journalists killed in shooting during hospital reopening in Haiti
The suspected gang attack occurred when journalists were covering the reopening of Port-au-Prince's biggest public hospital on Christmas Eve.
Russian cargo ship sinks in Mediterranean after engine room blast
The ship sank in the Mediterranean Sea between Spain and Algeria following an explosion in the engine room, officials said.
2,600-year-old shipwreck is raised from waters off Spain
An ancient shipwreck that dates back to the 7th century B.C.E. has been removed from waters off Spain, two decades after its discovery in 1994.
Swiss Olympic snowboarder dies in avalanche at 26 years old
Sophie Hediger, a member of Switzerland's snowboard cross team, competed at the 2022 Beijing Games.
Pope welcomes Christmas at newly restored St. Peter's Basilica
New renovations and AI-powered digital tours offer visitors a chance to see the historic site ahead of the 2025 Jubilee Year.
Entertainment
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Entertainment
Angel Blue on Met role debut in "Aida" and Opera journey
Angel Blue, who was recently named Classical Music's "Vocalist of the Year," is set to perform the title role in "Aida" at the Metropolitan Opera. Known for her Grammy-winning performances, Blue will take the stage in New York beginning on Dec. 31. She joins "CBS Mornings Plus."
Netflix carrying 2 NFL games on Christmas Day. It's a big step.
Netflix will have one of its biggest days Wednesday since the site launched in 1998 when it airs two NFL games for the first time.
Prosecutor drops appeal, ending case against Alec Baldwin in "Rust" shooting
The appeal had asked the court to reinstate charges, including involuntary manslaughter, against Alec Baldwin.
Denzel Washington gets minister's license at Harlem church
Just shy of his 70th birthday, Denzel Washington has a new line to add to an already impressive résumé.
Burt, the famous croc from "Crocodile Dundee" movie, dies in Australia
Burt, the iconic Saltwater crocodile that appeared alongside Paul Hogan and Linda Kozlowski in the hit movie, was believed to be more than 90 years old.
Technology
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Technology
AI features dominating tech heading into 2025
New artificial intelligence features appeared across the tech landscape this year, from the latest iPhone to chatbots like Google's Gemini. Adam Auriemma, the editor-in-chief at CNET, joins CBS News 24/7 with more.
Researchers develop robot to help people walk
A robotic exosuit may seem like science fiction, but a team of South Korean researchers is turning the concept into reality. CBS News' Leah Mishkin explains how the new tech is helping people with disabilities walk on their own.
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.
Holiday shoppers on the lookout for big TVs
TVs are some of the most popular items to fly off store shelves during the holidays. But this year, experts say shoppers are going bigger than ever. CBS News' Jeff Wagner explains.
Health care AI, intended to save money, requires expensive humans
Despite the hype over artificial intelligence in medicine, the systems require consistent monitoring and staffing to put in place and maintain.
Science
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2,600-year-old shipwreck is raised from waters off Spain
An ancient shipwreck that dates back to the 7th century B.C.E. has been removed from waters off Spain, two decades after its discovery in 1994.
What to know about the winter solstice, 2024's shortest day
The 2024 winter solstice, the shortest day of the year, happens on Saturday, Dec. 21, and is marked with traditions and celebrations around the world.
Class-action lawsuit over plastic recycling
This week a group of plaintiffs in Missouri, Kansas, California and Florida filed a class-action lawsuit against dozens of companies and organizations, claiming they've falsely promoted how easy it is to recycle plastics. CBS News Los Angeles climatologist Marina Jurica has the details.
Why fish, birds and other animals yawn too, according to an expert
Humans aren't alone when it comes to yawning — all vertebrates do it. But why? An expert explains the likely reason behind this "evolutionarily ancient" act.
Americans coexisted with 4-ton sloths for millennia, research shows
Early Americans may have spent millennia sharing prehistoric savannas and wetlands with enormous beasts, research shows.
Crime
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Suspect who allegedly set woman on fire in subway fanned flames, prosecutors say
Authorities are revealing more details surrounding the killing of a woman who was set on fire while sleeping on the New York City subway.
Luigi Mangione pleads not guilty
Luigi Mangione, accused of killing UnitedHealthcare CEO Brian Thompson, appeared in court in New York City and pleaded not guilty to murder and terrorism charges. His lawyer criticized what he called the case's political nature as Mangione was led into the hearing with his hands shackled.
Prosecutor drops appeal, ending case against Alec Baldwin in "Rust" shooting
The appeal had asked the court to reinstate charges, including involuntary manslaughter, against Alec Baldwin.
CEO murder suspect pleads not guilty in state case
Luigi Mangione pleaded not guilty to murder and terrorism charges in New York state court Monday. Prosecutors allege he shot and killed UnitedHealthcare CEO Brian Thompson in the back and leg in Manhattan earlier this month. Lilia Luciano has more.
Legendary drug lord released from U.S. prison, deported to Colombia, freed
Fabio Ochoa arrived at Bogota's El Dorado airport on a deportation flight on Monday, wearing a grey sweatshirt and carrying his personal belongings in a plastic bag.
Space
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Discovery of "tipped over" black hole surprises NASA scientists
New analysis techniques and decades-old research helped NASA scientists identify an unusual black hole in a distant galaxy.
Why are the Boeing Starliner astronauts stuck in space?
Here's why NASA astronauts Suni Williams and Butch Wilmore are stuck, but not stranded, at the International Space Station after launching into space in June.
NASA delayes return date for astronauts
NASA has delayed the return date for Boeing's Starliner astronauts Butch Wilmore and Suni Williams. CBS News' Manuel Bojorquez reports on the decision to keep the two in space.
NASA leader weighs in on Elon Musk, SpaceX and plans for moon rocket
NASA Administrator Bill Nelson says he's optimistic the Trump administration will support the space agency's agenda.
Boeing Starliner crew's return delayed again
Two astronauts who have been stuck in space since June will have to wait until at least the end of March to come home after NASA on Wednesday again pushed back their return date. Derrick Pitts, chief astronomer for the Franklin Institute, joined CBS News to discuss what's causing the delays.
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.
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.
Texas couple investigates teen daughter's unusual death
Cayley Mandadi's mother and stepfather go to extreme lengths to prove her death was no accident.
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 threatens to take over Panama Canal
President-elect Donald Trump is threatening to take over the Panama Canal unless it cuts the price it charges for ships to pass through the key shipping lane. Trump is also again floating the idea of buying Greenland, which he also suggested during his first term. Kelly O'Grady reports.
Pope Francis kicks off Jubilee year
Pope Francis ushered in the start of a Jubilee year at St. Peter's Basilica on Christmas Eve. The Vatican has spent years prepping for the once every quarter-century event. Chris Livesay has the story.
How AM radio helped storm recovery efforts
After Hurricane Helene brought devastating flooding to North Carolina, internet and cell phone service were spotty at best. But many were able to coordinate relief efforts and get crucial information out over AM radio. Skyler Henry has the story.
Mega Millions jackpot hits $1 billion
The Mega Millions jackpot has soared to an estimated $1 billion for the drawing on Christmas Eve. It's only the seventh time in the game's history the jackpot has hit that mark. Dave Malkoff has more.
Who will see snow on Christmas day?
Parts of the Northeast were hit with a light dusting of snow on Christmas Eve. CBS Meteorologist Bill Kelly takes a look at who will be getting snow on Christmas Day.