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The U.S. economy had a robust end to 2023, with the gross domestic product exceeding expectations, according to a new Commerce Department report. Axios chief economic correspondent Neil Irwin joins CBS News to discuss the 2024 economic outlook.
The U.S. GDP grew at a faster rate than expected in the fourth quarter of 2023, increasing at a 3.3% annualized rate. CBS News business analyst Jill Schlesinger has more on the numbers, as well as possible changes to the child tax credit.
Wall Street ended the week with stocks at all-time highs, bolstered by investor expectations of Federal Reserve interest rates cuts.
New data on wholesale prices appears to indicate inflation may be moderating but has not yet cooled to the Federal Reserve's target. Greg Robb, an economics editor at MarketWatch, joins CBS News with insight on the new figures.
Inflation grew at an annual rate of 3.4% in December, higher than economists had predicted. The increase could impact whether the Federal Reserve chooses to lower interest rates. Higher prices and mortgage rates have also left many Americans struggling. Jo Ling Kent has more.
The labor market beat Dow Jones expectations in December with 216,000 jobs added, according to the latest labor report. The unemployment rate remained unchanged at 3.7%. Jeanna Smialek, a Federal Reserve and economy reporter for The New York Times, joined CBS News to break down the numbers.
The Federal Reserve has signaled it may cut interest rates in 2024 as inflation cools. CBS News contributor Javier David breaks down how likely those cuts may be.
It has been a blockbuster year for investors, with the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite all up with double-digit gains. However, the Federal Reserve battled the worst inflation in decades with several rate hikes, and 2023 marked the worst banking crisis since 2008, with three major institutions collapsing. Astrid Martinez reports.
Many experts predicted the U.S. would fall into a recession in 2023, mostly due to the Federal Reserve's interest rate hikes. The nation's economy is instead closing the year on a high note. CBS News senior business and tech correspondent Jo Ling Kent examines why.
Concerns over inflation and a potential recession drove economic headlines in 2023, but new data shows consumer confidence is at a five-month high as we head into the new year. Javier David, CBS News contributor and a managing editor of business and markets at Axios, has a look at the economic outlook for 2024.
The Federal Reserve's actions appear to be cooling inflation in the U.S. economy. Bartie Scott, a senior economy editor at Business Insider, joins CBS News with a look at the goals the government has set.
Federal Reserve chair Jerome Powell announced Wednesday that interest rates would remain unchanged through the end of 2023 and indicated there could be rate cuts coming next year. Greg McBride, the chief financial analyst at Bankrate, joined CBS News to discuss what could be coming for the economy.
The Dow Jones Industrial Average surged to close at more than 37,000 points for the first time as investors applauded a statement from the Federal Reserve that it could cut its benchmark interest rate next year. But many Americans remain pessimistic about their financial future. CBS News' Jo Ling Kent reports.
President Biden meets with families of American hostages; Fed leaves interest rates unchanged, indicates cuts in 2024.
Tech startups faced closures and layoffs in 2023 as the Federal Reserve raised interest rates to a 22-year high. New York Times reporter Erin Griffith joins CBS News to explain what's going on in Silicon Valley.
The Dow soared more than 500 points on Wednesday, closing over 37,000 for the first time. The surge came after the Federal Reserve said it is keeping interest rates unchanged for the third time in a row. Gregory Daco, chief economist at Ernst and Young, joins CBS News to unpack the Fed's decision.
Stocks jump after Federal Reserve officials signal they're ready to push down borrowing costs as inflation continues to cool.
In its last rate decision of 2023, the central bank said it is holding its benchmark rate steady amid cooling inflation.
The Federal Reserve will hold its benchmark interest rate steady. CBS News business analyst Jill Schlesinger and J.D. Durkin, a CBS News contributor and host of the financial news website TheStreet, look at the implications.
The Federal Reserve on Wednesday will announce another decision on interest rates with the expectation it will not raise or cut them. CBS News contributor and Axios' managing editor of business and markets Javier David joins CBS News with his analysis.
The central bank has pushed pause after 11 straight interest-rate hikes. Here are steps to take with your money now.
The U.S. gross domestic product — the broadest measure of economic activity — grew a revised 5.2% in the third quarter of 2023. That's the highest quarterly GDP growth in nearly two years, according to the Bureau of Economic Analysis. Reade Pickert, Federal Reserve editor for Bloomberg, joins CBS News to unpack the state of the economy.
The Labor Department says the rate of inflation — which measures how much prices are rising — fell to 3.2% in October. Frances Stacey, director of strategy at Optimal Capital, joins CBS News to discuss what this means for your wallet and the country's financial outlook.
Fewer jobs than analysts expected were added last month, and the country's unemployment rate ticked up to 3.9%, the highest it has been since Jan. 2022. The report comes after the Federal Reserve held interest rates steady earlier this week. Jo Ling Kent explains what this means for your wallet.
Americans are grappling with the repercussions of sustained high interest rates, which have been hovering just over 5% since July – the highest in decades. The Federal Reserve's decision Wednesday to keep rates steady signals continued challenges for those looking to borrow. CBS News' Jo Ling Kent reports.
Israel says it is targeting Houthi military sites in Yemen's rebel-held capital city, Sanaa.
After the Azerbaijan Airlines jet crash, speculation mounted about why the plane went down and whether possible Russian air defense action may have played a role.
Rain and high winds were expected roll through parts of Oregon and Washington, while fog settled over an area from Kansas City to Chicago.
A judge ruled that a woman who says she was raped by Jay-Z and Sean "Diddy" Combs when she was 13 can proceed anonymously, for now, in her lawsuit against the rap moguls.
Here's what to know about the United States' involvement with building and operating the Panama Canal.
A plane passenger taken into custody after boarding a Delta flight from Seattle to Hawaii without a boarding pass.
The probe will focus on the findings of a recent investigative news program on alleged actions of Sara Netanyahu, the prime minister's wife, officials said.
Hudson Meek, the 16-year-old actor known for his performance in the 2017 film "Baby Driver," died Dec. 21 in Alabama, authorities said.
Christmas came early for pygmy hippo parents at the Metro Richmond Zoo in Virginia.
Richard Parsons was known as a skilled negotiator, a diplomat and a crisis manager.
Baltimore's victory over Houston averaged 24.3 million viewers, while Kansas City's win at Pittsburgh averaged 24.1 million, according to early viewer figures released by Nielsen.
A plane passenger taken into custody after boarding a Delta flight from Seattle to Hawaii without a boarding pass.
A judge ruled that a woman who says she was raped by Jay-Z and Sean "Diddy" Combs when she was 13 can proceed anonymously, for now, in her lawsuit against the rap moguls.
Christmas came early for pygmy hippo parents at the Metro Richmond Zoo in Virginia.
Richard Parsons was known as a skilled negotiator, a diplomat and a crisis manager.
Baltimore's victory over Houston averaged 24.3 million viewers, while Kansas City's win at Pittsburgh averaged 24.1 million, according to early viewer figures released by Nielsen.
The OpenAI issue was caused by an "upstream provider," according to the artificial intelligence organization.
Bargain hunters are busy amid seasonal discounts and "going out of business" sales by at least two retailing chains.
Toy stores and the toy industry are warning that Trump's pledge to add tariffs to Chinese imports could harm their businesses.
Cabrera is county commissioner of District 6, which represents parts of Coral Gables, Hialeah and the City of Miami.
President Biden's final holiday in office will take place largely out of the public eye.
Here's what to know about the United States' involvement with building and operating the Panama Canal.
Marianne Williamson sought the Democratic presidential nomination in 2020 and 2024.
Ryan Wesley Routh is being held in Miami awaiting trial in Fort Pierce.
Busy lives have many of us juggling multiple tasks at once, but is that really multitasking? Here's what expert Linda Stone has learned about the myth of multitasking.
A growing number of young people are receiving prescriptions for GLP-1 weight loss medications like Ozempic and Wegovy. Janet Shamlian examines why.
A voluntary recall was issued for a line of raw and frozen pet food after a cat died of bird flu.
The FDA has raised the level of a Costco egg recall, warning of the risk of severe illness or death due to potential salmonella contamination. Over 10,000 cartons of Kirkland brand organic eggs sold at stores across the South are affected. Customers are urged to discard or return eggs marked with Julian code 327 and a use-by date of Jan. 5, 2025.
With flu levels rising, Dr. Rabia De Latour shares ways to support your immune system and stay healthy during the holidays.
A mild-mannered technocrat, Manmohan Singh became one of India's longest-serving prime ministers. He was chosen to fill the role by Sonia Gandhi, the widow of assassinated Prime Minister Rajiv Gandhi.
The probe will focus on the findings of a recent investigative news program on alleged actions of Sara Netanyahu, the prime minister's wife, officials said.
Israel says it is targeting Houthi military sites in Yemen's rebel-held capital city, Sanaa.
Here's what to know about the United States' involvement with building and operating the Panama Canal.
The day after Christmas in 2004, a 9.1 magnitude earthquake under the Indian Ocean triggered tsunami waves that killed some 230,000 people across a dozen countries.
Baltimore's victory over Houston averaged 24.3 million viewers, while Kansas City's win at Pittsburgh averaged 24.1 million, according to early viewer figures released by Nielsen.
A judge ruled that a woman who says she was raped by Jay-Z and Sean "Diddy" Combs when she was 13 can proceed anonymously, for now, in her lawsuit against the rap moguls.
Hudson Meek, the 16-year-old actor known for his performance in the 2017 film "Baby Driver," died Dec. 21 in Alabama, authorities said.
Beyoncé surprised fans by bringing out Shaboozey to perform "Sweet Honey Buckiin," and Post Malone joined her for "Levii's Jeans."
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."
The OpenAI issue was caused by an "upstream provider," according to the artificial intelligence organization.
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.
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 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.
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.
Space agencies worldwide are gearing up missions in 2025 to expand humanity's horizons, from the moon and Mars to asteroids and beyond.
Tahlequah has a newborn girl, years after she made headlines for carrying her dead calf for 17 days.
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.
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.
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.
A pizza delivery worker, upset over a tip, allegedly repeatedly stabbed a pregnant woman at a Florida motel, a sheriff's office says.
Ryan Routh, the man accused of trying to assassinate President-elect Donald Trump near his Florida golf course, could have his trial delayed as his lawyer mounts a legal defense. CBS News legal contributor Jessica Levinson has more on the latest developments.
Gunfire at Phoenix Sky Harbor International Airport on Christmas night left three people wounded, police say. Another was stabbed. One was in critical condition.
A corrections officer died after an assault by an inmate in an Ohio prison on Christmas morning, authorities say.
Agents found 30 brick-like packages of cocaine inside the backpacks, located in a wooded area in Washington near the U.S. border with Canada.
Space agencies worldwide are gearing up missions in 2025 to expand humanity's horizons, from the moon and Mars to asteroids and beyond.
New analysis techniques and decades-old research helped NASA scientists identify an unusual black hole in a distant galaxy.
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 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 Administrator Bill Nelson says he's optimistic the Trump administration will support the space agency's agenda.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
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 seesaw marriage between the former ballerina and her much older husband only lasted four years, until she shot him on Sept. 27, 2020.
Cayley Mandadi's mother and stepfather go to extreme lengths to prove her death was no accident.
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.
The Toy Nest in Falls Church, Virginia, is a toy library that works on a membership program. The moms who buy-in say it allows them to cut down on toy waste, while saving money and adding variety. Natalie Brand explains how the novel idea works.
Research suggests the human brain is not wired to multitask on complicated tasks, and experts say it can cause more damage to our wellbeing than we realize. Dr. Jon LaPook explains.
Tom Homan, President-elect Donald Trump's incoming "border czar," told the Washington Post in an interview this week that Trump's new administration plans to revive the controversial practice of detaining migrant families and giving undocumented parents the choice of leaving their U.S.-born children behind or having the children deported with them. Lilia Luciano reports.
At a FedEx shipping hub in Anchorage, Alaska, employees can sort up to 80,000 packages a day during the holidays. And as they're dealing with a last wave of Christmas gifts getting ready to ship out this week, they're also dealing with a new wave of gifts that are being returned. Kris Van Cleave takes an inside look at the process.
Powerful thunderstorms forced ground stops that delayed dozens of flights at Dallas airports Thursday, while stormy weather downed trees and knocked out power to thousands of customers in Oregon and Washington. Kati Weis reports from Houston.