The economy's long, hot, and uncertain summer — CBS News poll
High prices and interest rates are still weighing on personal budgets.
High prices and interest rates are still weighing on personal budgets.
Although inflation has slowed sharply, Fed officials are again tapping the brakes to ensure the economy slows.
The Federal Reserve is expected to raise interest rates again Wednesday afternoon after pausing in June. CBS News business analyst Jill Schlesinger discusses how this hike will affect Americans.
The Federal Reserve will wrap up a two-day policy meeting Wednesday, and it will likely raise interest rates again to fight inflation. The Fed's policies appear to be working, as inflation is sharply lower. But not all costs are coming down at the same time. Carter Evans reports.
A centerpiece of President Biden's signature legislation, the Inflation Reduction Act, allows Medicare to negotiate lower prescription drug prices for seniors. Drug companies are fighting back in court, arguing the law violates their first and fifth constitutional rights. Health care attorney Harry Nelson joins CBS News to examine the legal battle.
For the first time since early 2021, the U.S. Labor Department says wages are rising at a faster rate than inflation. Compared with early 2021, wages are up about 4% while the Consumer Price Index has increased by about 3%. Amara Omeokwe, economics reporter at The Wall Street Journal, has more.
Cooling price growth in food, rent and energy mean that workers' pay is finally beating inflation.
The Labor Department reported Wednesday that the Consumer Price Index dropped to an annual growth rate of 3% in June, the lowest inflation has been since early 2021.
The most recent inflation data could impact everything from your mortgage to Social Security benefits.
According to a survey by Bankrate, some Americans say they need to earn about $233,000 a year in order to feel financially secure and nearly $483,000 a year to achieve financial freedom. Sarah Foster, an analyst for Bankrate, joined CBS News to talk about the findings.
Inflation may be continuing to ease in the U.S., according to new data released Wednesday by the U.S. Bureau of Labor Statistics. Lori Bettinger, president of BancAlliance, joined CBS News to discuss the numbers and what they might mean for future interest rate hikes.
The Consumer Price Index rose at an annual rate of 3%, the Labor Department said on Wednesday.
Prices remain stubbornly high in one part of the country, driven by high housing costs and an influx of new residents.
The inflation rate for food finally began to drop last August, but despite the overall trend, not everything on the shelves is seeing a price drop. Some items, known as "center store" products, have become more expensive. Jesse Newman, a reporter who covers food and agriculture for the Wall Street Journal, joined CBS News to talk about why those products are getting pricier.
Job creation slowed down last month, but Friday's jobs report still outperformed some economists' expectations. Javier David, managing editor for business and markets for Axios, joined CBS News to discuss what the numbers might mean for interest rate changes from the Federal Reserve.
President Biden touted his economic agenda during a speech in South Carolina on Thursday. The president criticized Republican lawmakers for voting against the Inflation Reduction Act, while pointing out those measures are leading to job increases in red states. CBS News senior White House correspondent Weijia Jiang joins "America Decides" to discuss how the president is framing his economic policies to voters.
Although policymakers kept rates steady last month, some Fed officials wanted to keep raising them.
New economic indicators closely watched by the Federal Reserve suggest an expected interest rate hike in July may not be locked in after all. The personal consumption expenditures index shows prices easing slightly for the month of May as consumer spending begins to slow. New York Times business reporter Jordyn Holman joined CBS News with more.
Jared Bernstein, Council of Economic Advisers chairman, joins CBS News' chief election & campaign correspondent Robert Costa to discuss President Biden's new economic plan, which Mr. Biden unveiled Wednesday in Chicago.
Cookout costs will vary, but Americans hitting the road are about to save $2.6 billion on gas this holiday weekend over last year.
President Biden had a tough sell Wednesday, trying to convince voters that the U.S. economy is flourishing.
President Biden has unveiled his new plan for the U.S. economy. During a speech in Chicago, he touted growing the economy by focusing on expanding the middle class. CBS News White House reporter Bo Erickson has more.
Central banks on both sides of the Atlantic say more interest rate hikes are likely this fall as they grapple with stubborn inflation. And economists say consumers are still spending money on fun experiences this summer, driving prices even higher. Bernhard Warner, senior editor for The New York Times' Dealbook, joins CBS News with more.
A growing number of brides across the country are finding bliss in pre-loved wedding dresses.
In some areas inflation has fallen below 2%, while in other regions prices are still spiraling upward. Why?
Millions of customers in several states were in the dark as Helene moved inland from the Big Bend area of Florida's Gulf Coast.
Federal prosecutors have charged three Iranian hackers for allegedly targeting members of former President Donald Trump's presidential campaign as part of a "wide-ranging" cyber scheme.
British actress Dame Maggie Smith had an extensive career in theater and movies, gaining international acclaim in later roles in "Harry Potter" and "Downton Abbey."
Hezbollah senior commanders, including the group's leader, Hassan Nasrallah, were the target of the strikes on the group's headquarters, according to a senior Israeli official.
Here are the rules of the CBS News vice presidential debate between JD Vance and Tim Walz.
Authorities have successfully airlifted over 50 people stranded by fast-moving flood waters from the roof of a hospital in Erwin, in eastern Tennessee.
City officials shared clips of boats slammed into homes and a residence burning amid the floodwaters as they conducted water rescue operations.
Indicted NYC Mayor Eric Adams pleaded not guilty to federal bribery and campaign finance charges at his arraignment Friday.
Many Americans are unaware of the connection between drinking and cancer risk, despite growing research that points to the negative health impacts of alcohol.
Maj. Michael Stockin, an Army physician accused by more than 40 patients of sexual misconduct, has reached a plea deal with prosecutors, his attorney says.
Bigger bins and premium-priced seating with added legroom are just some of the changes the carrier is betting will win over customers.
Authorities have successfully airlifted over 50 people stranded by fast-moving flood waters from the roof of a hospital in Erwin, in eastern Tennessee.
Rising Florida home insurance rates, which surged 45% from 2017 to 2022, are likely to keep climbing along with the mercury, experts say.
A NASA astronaut and a Russian cosmonaut will join the Starliner astronauts for a normal tour of duty
Bigger bins and premium-priced seating with added legroom are just some of the changes the carrier is betting will win over customers.
Rising Florida home insurance rates, which surged 45% from 2017 to 2022, are likely to keep climbing along with the mercury, experts say.
Loophole in law means potentially deadly furniture is still being sold by major retailers, advocacy group cautions.
Grocery costs barely rose last month, according to Friday's report, and energy costs dropped 0.8%, led by cheaper gasoline.
A government task force is ready to help minimize supply-chain disruptions in case of a prolonged East Coast port strike, Biden administration says
Despite suspending his campaign, the independent presidential candidate was fighting to have his name restored to the state's ballot.
Here are the rules of the CBS News vice presidential debate between JD Vance and Tim Walz.
Grocery costs barely rose last month, according to Friday's report, and energy costs dropped 0.8%, led by cheaper gasoline.
Indicted NYC Mayor Eric Adams pleaded not guilty to federal bribery and campaign finance charges at his arraignment Friday.
"I don't think we know who's going to win Michigan yet," Rep. Debbie Dingell told chief Washington correspondent Major Garrett on "The Takeout" podcast.
Loophole in law means potentially deadly furniture is still being sold by major retailers, advocacy group cautions.
Officials claim the changes "had no bearing" on Boar's Head's now-shuttered plant.
Many Americans are unaware of the connection between drinking and cancer risk, despite growing research that points to the negative health impacts of alcohol.
Gov. Gavin Newsom signs law prompted by a decade-long CBS News California investigation into California's newborn genetic biobank.
Ten deaths have been linked to now-recalled Boar's Head products.
The Viking burial ground, used during the 9th and 10th centuries, was discovered on the southern outskirts of the village of Åsum.
Hezbollah senior commanders, including the group's leader, Hassan Nasrallah, were the target of the strikes on the group's headquarters, according to a senior Israeli official.
There are no coastal watches or warnings in effect for either storm however, the waves from Issac could cause life-threatening surf and rip current conditions in the Azores
In October 2022, Phoebe Plummer and Anna Holland threw two cans of Heinz tomato soup over the artwork at London's National Gallery.
Enrique Ariza was convicted of "persecution, harassment" and other crimes against Claudia Julieta Duque, the prosecutor's office said.
In this preview of an interview to be broadcast on "CBS Sunday Morning" September 29, correspondent Anthony Mason talks with Chris Martin and Jonny Buckland of the rock band Coldplay about their massively-successful world tour.
A simple cocktail recipe, from the author of the New York Times bestseller, "Barefoot Contessa at Home."
U.K. regulators found "serious misconduct" by Naomi Campbell's Fashion for Relief charity, disqualifying her from running a charity in Britain for five years.
British actress Dame Maggie Smith had an extensive career in theater and movies, gaining international acclaim in later roles in "Harry Potter" and "Downton Abbey."
Tony Dokoupil and Adriana Diaz co-host "CBS Mornings Plus," airing weekdays on CBS-owned stations in Los Angeles, Chicago, San Francisco, Detroit and Miami, and streaming on CBS News 24/7.
Top U.S. artificial intelligence startup OpenAI took a hit Thursday after three of its top executives exited the company. The departures come as CEO Sam Altman is reportedly preparing to turn OpenAI into a traditional for-profit company. Connie Guglielmo, senior vice president focused on AI edit strategy for CNET, joins CBS News to examine the future of the startup.
Super Micro Computer's stock price fell sharply after the Wall Street Journal reported the company faces a federal investigation.
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.
Meta AI will talk to you in the voice of a handful of celebrities, Mark Zuckerberg announced today.
CBS News found the song has been used in more than 4,500 TikTok videos alone, with some users believing it's a song released by Bieber.
The Viking burial ground, used during the 9th and 10th centuries, was discovered on the southern outskirts of the village of Åsum.
Nine years after it was negotiated, the Paris Climate Agreement continues to serve as a blueprint for global environmental goals. Todd Stern, the top U.S. negotiator for the deal, outlines the years-long process it took to reach the landmark agreement in his new book, "Landing the Paris Climate Agreement: How It Happened, Why It Matters and What Comes Next." Stern joins CBS News to look back at the talks.
Florida is bracing for the wrath of Hurricane Helene. A common question that scientists face during natural disasters like this is: Has climate change impacted their severity? CBS News Miami investigative reporter Jim Defede and CBS News Texas investigative reporter Brian New break down how lawmakers and residents in their states view climate change amid natural disasters.
Three houses have collapsed into the ocean in Rodanthe, North Carolina, in less than a week — and they're likely not the last. Here's why.
President Biden touted his administration's climate progress at the United Nations General Assembly on Tuesday. But in California, lawmakers have often been ahead of the federal government's climate policy, although they are not always aligned. CBS News California investigative correspondent Julie Watts has more.
Maj. Michael Stockin, an Army physician accused by more than 40 patients of sexual misconduct, has reached a plea deal with prosecutors, his attorney says.
New York City Mayor Eric Adams appeared in court Friday and pleaded not guilty to federal charges against him. CBS News' Nikki Battiste was in court while the Adams' arraignment took place.
New York City Mayor Eric Adams was arraigned Friday, a day after a federal indictment outlined alleged crimes Adams carried out involving a foreign government. CBS News' Nikki Battiste was in court.
Enrique Ariza was convicted of "persecution, harassment" and other crimes against Claudia Julieta Duque, the prosecutor's office said.
New York City Mayor Eric Adams is set to be arraigned Friday on federal charges that include bribery, conspiracy and campaign finance charges. CBS News' Anna Schecter reports.
A NASA astronaut and a Russian cosmonaut will join the Starliner astronauts for a normal tour of duty
The Soyuz landing in Kazakhstan sets the stage for launch of a SpaceX Crew Dragon flight to the space station Thursday.
For the next two months, Earth will have a "mini-moon" when a small asteroid temporarily orbits the planet. Scientists say the asteroid, which is only 33 feet long, will enter Earth's gravity in a horseshoe orbit September 29 before leaving on November 25. Most people won't get a glimpse of this mini-moon though, it's too small to see without professional equipment.
The asteroid was discovered in August and is set to become a mini-moon, spinning around Earth in a horseshoe shape for about two months.
NASA's "Hidden Figures," whose work helped put men on the moon, were honored Wednesday in a Congressional Gold Medal ceremony.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
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 seesaw marriage between the former ballerina and her much older husband only lasted four years, until she shot him on Sept. 27, 2020.
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.
A teenager's murder in Lowell, Massachusetts, goes unsolved for more than 40 years -- were the clues there all along?
Helene weakened to a tropical depression Friday afternoon but continued to dump rain across the south. More than 40 storm-related deaths have been confirmed as millions of residents remain without power. CBS News national correspondent Dave Malkoff reports on the devastation.
Ongoing fighting between the Democratic Republic of the Congo and an armed militia group called M-23 has left the African country in one of the world's largest humanitarian crises. The United Nations estimates roughly a quarter of the country faces food insecurity, forcing more than seven million people to leave their homes. Amy Pope, the director general of the International Organization for Migration, joins CBS News to discuss the situation.
Vice President Kamala Harris visited the southern border Friday for the first time as a presidential candidate. Harris is using the trip to push back against former President Donald Trump's criticism of the Biden administration's handling of immigration. Ed O'Keefe has more from the crucial battleground state of Arizona.
Huge explosions rocked the capital city of Beirut, Lebanon, as Israel says it struck Hezbollah headquarters in a residential neighborhood. They say they were targeting the leader of the Iran-backed terror group. Imtiaz Tyab reports.
Helene roared ashore Thursday night as a Category 4 hurricane and the most powerful storm on record to hit Florida's Big Bend region. Jason Allen shows us the storm's devastating impact.