Inflation measure preferred by Fed shows cooling prices
The better-than-expected PCE data is increasing expectations that the Fed could cut rates in September, analysts said.
The better-than-expected PCE data is increasing expectations that the Fed could cut rates in September, analysts said.
President Biden and former President Donald Trump are expected to tackle several issues important to voters during Thursday night's debate. CBS News' Jo Ling Kent, Camilo Montoya-Galvez and Shawna Mizelle walk through some of them.
These charts track the prices consumers are paying for groceries and other goods now compared to the cost five years ago, as inflation lingers.
About a third of U.S. voters ages 18-29 say they are not planning to vote in the 2024 election, according to a CBS News poll. Caitlin Huey-Burns spoke to some young voters about their plan to sit this election out.
Inflation showed signs of cooling and both stock indexes and corporate profits are up. But many Americans aren't feeling any economic relief. Mark Strassmann looks at why.
The latest CBS News poll found that 72% of Americans say higher prices have been a hardship or more difficult, and 63% rate the economy as fairly bad or very bad. Mark Strassmann on how voters are feeling amid the signs that inflation is cooling — but not fast enough for many Americans.
A housing shortage in Texas and minimum wage increases elsewhere are fueling higher than average inflation in some cities.
There are some indications that prices are falling in some parts of the U.S. economy. This comes after the Federal Reserve's announcement to hold interest rates steady for now. CBS News contributor Javier E. David looks at some key economic indicators as inflation slows slightly.
The Federal Reserve left interest rates unchanged Wednesday after the government announced consumer prices in May rose 3.3% year over year. The central bank has been hesitant to cut rates due to inflation. Ben Casselman, economy reporter for The New York Times, joins CBS News to unpack the data.
The Federal Reserve is leaving interest rates unchanged for now as it awaits a more sustained period of declining inflation in the U.S. economy. CBS News contributors J.D. Durkin and Javier E. David break down the decision.
The Federal Reserve kept its benchmark rate in a range of 5.25% to 5.5%, the same level where it's been parked since July 2023.
The Federal Reserve is meeting again to determine if interest rates should remain steady or be altered. The latest data by the Department of Labor shows inflation cooled slightly in May but some consumer prices, including for shelter and food, continued to rise. CBS News' Jo Ling Kent has more.
Price increases in the U.S. were up 3.3% from last year in May's Consumer Price Index, a smaller increase than was predicted by economists, while month-over-month prices stayed the same. CBS News business analyst Jill Schlesinger has more.
Key report on consumer prices comes ahead of interest-rate decision by the Federal Reserve in the afternoon.
The Federal Reserve will announce its next interest rate decision on June 12. Here's what to expect — and what it means for your money.
The COVID-19 pandemic dislodged the global supply chain, but the vulnerabilities in the system had already been building up for decades. A new book titled "How the World Ran Out of Everything" examines how the health crisis exposed the fragility of a system that was always at risk of collapse. Author Peter Goodman joins to discuss.
The latest jobs report showed that the U.S. added 272,000 jobs last month, significantly higher than forecasters had expected. Michael George has more.
The latest data from the Labor Department shows the U.S. added 272,000 jobs in May. The figure was much higher than economists expected, indicating that the market is not slowing down. CBS News senior business and technology correspondent Jo Ling Kent explains what the report means for the Fed's fight against inflation.
The European Central Bank has announced a cut to key interest rates after 18 months of declining inflation in Europe's economy. CBS News' Ramy Inocencio has more.
U.S. unemployment rate forecast to stay below 4% for a 28th straight month — that would be the longest stretch in more than 70 years.
Prices excluding food and energy rose at an annual rate of 2.8% in April as inflation eased after flaring earlier this year.
More than half of Americans believe the U.S. is in a recession, according to a Harris poll conducted for the Guardian. CBS News contributor Javier E. David discusses the data, which shows the economy is strong despite people's sentiment.
Americans who spend Memorial Day scouting sales online and in stores may find more reasons to celebrate the return of warmer weather.
Memorial Day marks the unofficial start of summer, and about half of all Americans are expected to grill over the weekend. But food prices are up this year, making those cookouts a bit more expensive. Jonathan Vigliotti reports.
Those planning vacations this summer should buckle up for considerably higher prices. Kris Van Cleave explains.
A hurricane warning was issued for Barbados, and a hurricane watch was in effect for St. Lucia, Grenada, and St. Vincent and the Grenadines.
Police said they spotted what "appeared to be a handgun" pointed at the officers. It was determined to be a replica Glock handgun.
Pennsylvania Rep. Madeleine Dean, a Democrat, said of Biden, "He had a bad debate. There's no two ways about that."
Mahsoud Pakeshkian and Saeed Jalili are headed to a runoff presidential election on Friday to replace the late hard-line President Ebrahim Raisi, who died in a helicopter crash in May.
Some of the world's largest companies have toned down their Pride campaigns in the wake of last year's backlash against Target and Bud Light.
Five members of the same family were killed when their house was swallowed by a landslide while they were asleep, officials said.
Jason Duhaime, 46, was convicted on three counts Friday by a federal jury.
The 36-year-old woman is being held in the Mecklenburg County Jail on a $250,000 bond, jail records show.
Orlando Cepeda, the slugging Hall of Fame first baseman and Giants great nicknamed "Baby Bull," has died at 86.
Police said they spotted what "appeared to be a handgun" during the chase, but was later determined to be a pellet gun resembling a Glock 17.
The 36-year-old woman is being held in the Mecklenburg County Jail on a $250,000 bond, jail records show.
Jason Duhaime, 46, was convicted on three counts Friday by a federal jury.
A group of LGBT dancers and allies come together in Alpharetta, Georgia, to make line dancing something everyone can enjoy, together.
The Napa Valley Wine Train is going green to protect the delicate environment it travels through.
Some of the world's largest companies have toned down their Pride campaigns in the wake of last year's backlash against Target and Bud Light.
Last night's presidential debate between Biden and Trump marked a drop in TV viewership from 2020 and 2016.
CDK outage forecast to slow auto sales by 7.2% in June, pushing demand into July.
Cones, chocolate bars and gummies sold nationwide found to contain toxic levels of chemical found in some mushrooms.
Army of volunteers raced to hand out jugs of milk and bags of groceries to line of cars outside Fordyce High School.
Pennsylvania Rep. Madeleine Dean, a Democrat, said of Biden, "He had a bad debate. There's no two ways about that."
The Biden campaign says President Biden will "absolutely not" step aside.
Former President Donald Trump addressed a rally in Chesapeake, Virginia, a day after his first 2024 debate with President Biden.
The Supreme Court overruled a 40-year-old decision that said federal courts should defer to agencies in certain cases. Here's what it means.
The CBS News Battleground Tracker map includes our best estimates and 2024 presidential race ratings in every state for the Biden-Trump rematch.
Less than 100 intestinal transplants were done in 2023. For Danielle Perea, the surgery was her only chance.
The FDA said its study better simulated how commercial milk processing kills the bird flu virus, H5N1.
Cones, chocolate bars and gummies sold nationwide found to contain toxic levels of chemical found in some mushrooms.
Japan's Kobayashi Pharmaceutical says its looking at possible links between 80 deaths and its benikoji red yeast supplements.
Iowa joins more than a dozen other states with restrictive abortion laws following the U.S. Supreme Court's overturning of Roe v. Wade in 2022. Three other states currently ban abortions at about six weeks.
India won its second T20 World Cup but its first world title in 12 years.
Five members of the same family were killed when their house was swallowed by a landslide while they were asleep, officials said.
Korda, who tied an LPGA record earlier this year with five consecutive victories, has missed the cut in three straight tournaments for the first time in her career.
Called 2024 MK, the space rock will make its closest approach to Earth on Saturday.
The attacker, armed with a crossbow, wounded a Serbian police officer guarding the Israeli Embassy in Belgrade.
Longtime comedy actor Martin Mull, who had many memorable roles in TV shows including "Fernwood Tonight," "Roseanne" and "Arrested Development," has died at the age of 80.
Formed in Boston 20 years ago, Lake Street Dive is best known for their unique blend of jazz, pop, soul, country and folk music. Ahead of a nationwide tour, the band recently released their eighth studio album. Now, from "Good Together," here is Lake Street Dive with "Help Is On The Way."
Formed in Boston 20 years ago, Lake Street Dive is best known for their unique blend of jazz, pop, soul, country and folk music. Ahead of a nationwide tour, the band recently released their eighth studio album. Now, from "Good Together," here is Lake Street Dive with "Dance With a Stranger."
Formed in Boston 20 years ago, Lake Street Dive is best known for their unique blend of jazz, pop, soul, country and folk music. Ahead of a nationwide tour, the band recently released their eighth studio album. Now, here is Lake Street Dive with the title track of their new album, "Good Together."
Martin Mull came to national fame with a recurring role on the Norman Lear-created satirical soap opera "Mary Hartman, Mary Hartman," and the starring role in its spinoff, "Fernwood 2 Night."
This week marks 50 years since the debut of the barcode, those machine-readable black stripes that have changed many aspects of modern life. Bradley Blackburn looks back at its history.
Three major mobile carriers say customers abroad can't make phone calls, send messages.
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.
Recall involves about 132,000 units due to lithium-ion batteries that can overheat, with $20,000 in property damage reported.
Voice actors Paul Skye Lehrman and Linnea Sage say their voices are their livelihoods and are now being stolen by AI.
Called 2024 MK, the space rock will make its closest approach to Earth on Saturday.
Scientists are racing to figure out what's causing strange behavior and even deaths among fish, including the endangered sawfish. The phenomenon started in the Florida Keys, but has been seen as far north as Tampa.
South Africa is home to a large majority of the world's rhinos and as such is a hot spot for poaching driven by demand from Asia.
New research paints a worrying picture about the state of polar bears in Canada's Hudson Bay. The big furry bears could go extinct in the region as early as the 2030s due to thinning ice, longer ice-free seasons and human activity leading to climate change. Geoffrey York, one of the study's co-authors, joins CBS News to break down the findings.
Scientists monitoring 51 chimpanzees saw sick or injured animals eating certain plant items that were not part of their normal diet.
Police fatally shot a 13-year-old boy late Friday night following a chase in Utica, New York, after the teen displayed what turned out to be a replica handgun, authorities said. Michael George has the latest.
Police said they spotted what "appeared to be a handgun" during the chase, but was later determined to be a pellet gun resembling a Glock 17.
The 36-year-old woman is being held in the Mecklenburg County Jail on a $250,000 bond, jail records show.
Long Island police said Steven Schwally, 64, was drunk and speeding when he crashed an SUV into a nail salon Friday, killing an off-duty NYPD officer and three other people.
There are new details Friday in the 10-count indictment against former Uvalde school police chief Pete Arredondo. Janet Shamlian spoke with the family members of two of the students who were killed the Uvalde shooting and has their reaction.
The problem for NASA and Boeing is that the Starliner's service module is discarded before re-entry and burns up in the atmosphere.
The latest GOES satellite will play a critical role in tracking hurricanes and other dangerous storms across North America.
China's Chang'e 6 is the first craft ever to collect soil and rock samples from the side of the moon that faces away from Earth into space.
NASA has again postponed the troubled Boeing Starliner's trip home from the International Space Station as crews assess a series of helium leaks. Those leaks had also delayed the first crewed launch of the ship multiple times. Mark Strassmann reports.
NASA canceled a spacewalk on Monday due to a leaky spacesuit. And Starliner commander Barry "Butch" Wilmore and co-pilot Sunita Williams will remain at the International Space Station longer than planned after NASA and Boeing delayed the capsule's return to Earth. CBS News space consultant Bill Harwood breaks down the issues the astronauts are navigating in space.
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.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
A teenager's murder in Lowell, Massachusetts, goes unsolved for more than 40 years -- were the clues there all along?
The actor, recipient of a lifetime achievement Academy Award, was renowned for such films as "MASH," "Klute," "Don't Look Now," "Ordinary People," and "The Hunger Games."
The Illinois mom wrote, "If something ever happens to me, please make sure the number one person of interest is Tim." Take a look at the evidence that led to Tim Bliefnick's arrest.
Beryl on Saturday became 2024's first Atlantic hurricane and was forecast to strengthen as it approaches the Caribbean. Meteorologist Molly McCollum of The Weather Channel has more on the hurricane and the forecast going into the holiday travel week.
This week marks 50 years since the debut of the barcode, those machine-readable black stripes that have changed many aspects of modern life. Bradley Blackburn looks back at its history.
A community in Texas is bringing together migrants and America's pastime. Ken Molestina explains.
Longtime comedy actor Martin Mull, who had many memorable roles in TV shows including "Fernwood Tonight," "Roseanne" and "Arrested Development," has died at the age of 80.
Heavy flooding has inundated several parts of Minnesota over the past two weeks. However, a vast majority of Minnesotans lack flood insurance, leaving some with extensive property loss and an uncertain future. Tom Hanson reports.