Yellen downplays recession risk ahead of key economic data
"We've got a very strong labor market," Treasury Secretary Janet Yellen said. "This is not an economy that's in recession."
Inflation
Consumers paying $10,000 more than "normal" for used cars
Most used vehicles aren't depreciating due to low new car inventory and strong consumer demand, study finds.
Some Florida families to get a $450 "inflation relief" check
One-time payments will help about 59,000 households in the state, including those on welfare.
Ukraine and Russia sign deal to get vital grain shipments moving again
The agreement should see Russia drop its blockade of Ukraine's ports, where millions of tons of food have been stuck, exacerbating a global food emergency.
Americans filing jobless claims at highest level in 8 months
More than 250,000 people applied for unemployment benefits last week, the highest number since November.
Dollar down after hitting parity with the euro
The U.S. dollar continues to retreat after reaching the equivalence of the euro for the first time in two decades last week. Joe Rennison, markets reporter for The New York Times, joins "CBS News Mornings" to discuss what this means for the global economy.
Consumers hit with "shrinkflation"
Packaging of daily household goods shrink, as shoppers pay the same for less. Carter Evans reports.
7/20: CBS News Mornings
Dangerous heat wave hits U.S. and Europe; Package sizes for products get smaller as companies react to inflation
White House adviser discusses Biden's inflation response
President Joe Biden called the inflation rate "unacceptably high" after it reached its highest rate in four decades in June. Jared Bernstein, a member of the White House Council of Economic Advisers, joined "Red and Blue" to discuss the Biden administration's response to inflation.
7/19: Red and Blue
President Joe Biden weighs whether to make a climate emergency declaration; Emmett Till's home to receive landmark funds.
Most middle-class Americans can't support cost of living: survey
Inflation is walloping middle-income households, with many saying they are taking on more credit card debt to stay afloat.
What's behind U.S. gas price fluctuations
CBS News' Tanya Rivero and Elaine Quijano sit down with Evan Halper, a business reporter for "The Washington Post," to discuss fluctuating gas prices. While gas prices have recently fallen, Halper talks about his new reporting about expectations that costs will spike again and others' reactions to the Biden administration's efforts to combat high energy costs.
Business owners' fears of a recession grows
A new survey by Goldman Sachs shows 93% of small business owners fear a recession is coming, and most are already feeling the effects of inflation. David Nelson, chief strategist at Belpointe Asset Management, tells CBS News even if the U.S. enters a recession, it will be mild compared to past economic downturns.
Making sense of the economy amid inflation
Economists were spot on that our post-pandemic recovery will not follow the normal rules. However, we now find ourselves watching inflation skyrocket as fuel prices fall. Derek Thompson, staff writer at the Atlantic, joins CBS News to discuss his latest piece, titled "The Everything-Is-Weird Economy."
Inflation "entrenched" in U.S. economy, Goldman Sachs CEO says
David Solomon warns that Americans face more uncertainty as soaring prices dent confidence and weigh on stocks.
MoneyWatch: Global recession fears grow
Fears of a global economic downturn are growing as nations around the world react to inflation concerns. Peter Goodman, global economics correspondent for the New York Times, joins CBS News to discuss why he believes the COVID-19 pandemic remains the root cause of our current economic situation.
Europe feels pain of soaring fuel costs as Ukraine war drags on
In Italy more people are heading to food banks, while Germans are turning down the AC to prep for energy rationing.
Furman: Democrats' tax plan would "unambiguously bring inflation down"
Jason Furman, a former chairman of the Council of Economic Advisers in the Obama White House, says a Democratic proposal to increase taxes on the wealthy would "unambiguously bring inflation down."
Face The Nation: Hochstein, Furman, Bowser
Missed the second half of the show? The latest on energy from Biden's coordinator, Amos Hochstein who says Gulf states have "more room" to boost oil supply; Jason Furman says Democrats' tax plan would "unambiguously bring inflation down"; Mayor Muriel Bowser's federal plan to stop migrants from being tricked onto buses
Open: This is "Face the Nation with Margaret Brennan," July 17
This week on “Face the Nation with Margaret Brennan,” with inflation now hitting over 9%, we have a string of guests to talk about the state of the American economy as experts fear a recession is coming. Plus, more on the subpoena to the U.S. Secret Service sent by the House select committee investigating the Jan. 6 attack on the U.S. Capitol with member Rep. Adam Kinzinger.
7/17: Face The Nation
This week on “Face the Nation with Margaret Brennan,” with inflation now hitting over 9%, we have a string of guests to talk about the state of the American economy as experts fear a recession is coming. Plus, more on the subpoena to the U.S. Secret Service sent by the House select committee investigating the Jan. 6 attack on the U.S. Capitol with member Rep. Adam Kinzinger.
Gas prices affect travelers for medical treatment
While surging gas prices and record-high inflation affects most Americans, one group is hit especially hard: Families that have to travel long distances for necessary medical treatment. Adriana Diaz meets with affected families to discuss their realities and the sacrifices made to receive care.
Jill Schlesinger on "The Takeout"
Jill Schlesinger joins Major Garrett on this week's "The Takeout." Schlesinger and Garrett discuss the different terms around inflation, how the Fed affects inflation, the effect of the pandemic on the economy, bear markets, and stupid things smart people do with their money.
Viewers donate to family struggling to afford gas
"CBS Evening News" viewers helped raised more than $45,000 for a family who was struggling to pay for gas to get their daughter who has cancer to her medical appointments. The family won't have to rely on high-interest payday loans to buy gas thanks to the donations.
CBS Evening News, July 15, 2022
Biden holds controversial meeting with Saudi crown prince; "CBS Evening News" viewers help raise $45,000 for family struggling to afford gas
Israel-Hezbollah ceasefire takes hold, fueling new push for Gaza truce
As Israel and Hezbollah cease fire after a year, President Biden says Palestinians in war-torn Gaza also "deserve an end of the fighting and displacement."
3 Americans held for years in China released, White House says
Mark Swidan, Kai Li, and John Leung have been released from detention, a spokesperson for the National Security Council said.
Trump tariffs could hike prices for many products, including these items
Tariffs on U.S. imports would raise prices for consumers on a range of goods, experts say. Here's what to know.
Trump team says threats, swatting incidents against Cabinet picks being probed
President Biden has been briefed on the incidents and "unequivocally" condemns threats of political violence, the White House said.
Man missing since 1999 found after sister saw him in news article
A woman saw a photo of a man she believed to be her brother who was reported missing in 1999. She was right.
Ohio governor signs bill limiting bathroom use by transgender students
A ban on transgender students from kindergarten through college using multiperson bathrooms that fit their gender identities has become law in Ohio.
Trump taps retired Gen. Keith Kellogg for Ukraine envoy
Keith Kellogg, a retired lieutenant general, served as national security adviser to former Vice President Mike Pence.
Police officer who Tasered 95-year-old woman convicted of manslaughter
An Australian police officer who Tasered 95-year-old great-grandmother Clare Nowland in her care home has been found guilty of manslaughter.
NASA shows off image of U.S. military's abandoned "city under the ice"
Scientists now have a clearer picture of Camp Century, an abandoned U.S. military base long hidden under the ice in Greenland, thanks to a NASA research team's good luck.
U.S.
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Trump taps retired Gen. Keith Kellogg for Ukraine envoy
Keith Kellogg, a retired lieutenant general, served as national security adviser to former Vice President Mike Pence.
How to cut down on Thanksgiving food waste
Experts share tips on how families preparing for Thanksgiving can take steps to cut down on the amount of food wasted during the holiday season.
What's hot in kids toys this holiday season — and what to avoid
Consumers are expected to open their wallets this holiday season, with these children's toys high on the list.
Trump team signs some, but not all, critical transition documents
The Trump transition team has yet to sign key agreements with the Justice Department or General Services Administration, White House officials say.
Ohio governor signs bill limiting bathroom use by transgender students
A ban on transgender students from kindergarten through college using multiperson bathrooms that fit their gender identities has become law in Ohio.
MoneyWatch
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What's hot in kids toys this holiday season — and what to avoid
Consumers are expected to open their wallets this holiday season, with these children's toys high on the list.
A toddler got a nasal swab test. So why was the bill $445?
An Illinois mom got stuck with a big bill after taking her 3-year-old to the ER but never seeing a doctor. "It's mind-blowing," she said.
Trump tariffs could make these items more expensive
Tariffs on U.S. imports would raise prices for consumers on a range of goods, experts say. Here's what to know.
23andMe CEO reveals plans for the company's future
23andMe CEO Anne Wojcicki talks to "CBS Mornings" co-host Gayle King about the company's recent struggles, welcoming employee feedback and her vision for the future of the genetic-testing and ancestry-tracing company.
Drug cartel reeling in huge profits with illegal fishing in Gulf of Mexico
The cartel allegedly uses fishing boats to smuggle drugs and migrants — and catch tons of red snapper, a commercially valuable but vulnerable species.
Politics
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Trump taps retired Gen. Keith Kellogg for Ukraine envoy
Keith Kellogg, a retired lieutenant general, served as national security adviser to former Vice President Mike Pence.
Trump team says threats, swatting incidents against multiple Cabinet picks being investigated
President Biden has been briefed on the incidents and "unequivocally" condemns threats of political violence, the White House said.
Trump team signs some, but not all, critical transition documents
The Trump transition team has yet to sign key agreements with the Justice Department or General Services Administration, White House officials say.
Trump taps Jay Bhattacharya as director of the National Institutes of Health
Dr. Jay Bhattacharya, who has faced restrictions on social media platforms because of his views, was a critic of pandemic lockdowns and vaccine mandates.
After tariff threat, Trump selects Jamieson Greer as U.S. trade representative
If confirmed as trade representative, Jamieson Greer would be responsible for negotiating directly with foreign governments on trade deals and disputes.
HealthWatch
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A toddler got a nasal swab test. So why was the bill $445?
An Illinois mom got stuck with a big bill after taking her 3-year-old to the ER but never seeing a doctor. "It's mind-blowing," she said.
Why we eat turkey on Thanksgiving, according to history
Why is Thanksgiving traditionally associated with turkey and other specific foods? We asked a history expert why we eat what we do on the holiday.
How to safely cook your turkey — and how long to keep leftovers
If you're looking forward to a delicious — and safe — Thanksgiving dinner with loved ones, here's how to cook your turkey and keep your leftovers safely.
Biden administration set to miss chance to lock in new food guidelines
A federal panel has been meeting for months to draft recommendations.
Trump taps Jay Bhattacharya as director of the National Institutes of Health
Dr. Jay Bhattacharya, who has faced restrictions on social media platforms because of his views, was a critic of pandemic lockdowns and vaccine mandates.
World
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Accused "Pink Panthers" member among 11 nabbed in cocaine bust
Police in the Balkans arrested 11 alleged members of a criminal syndicate responsible for smuggling cocaine from South America to Europe, officials said.
NASA shows off image of U.S. military's abandoned "city under the ice"
Scientists now have a clearer picture of Camp Century, an abandoned U.S. military base long hidden under the ice in Greenland, thanks to a NASA research team's good luck.
Australian lawmakers advance bill to bar under-16s from social media
Australia's House of Representatives has passed a bill that would ban children under the age of 16 from using most social media platforms.
Israel-Hezbollah ceasefire takes hold, fueling new push for Gaza truce
As Israel and Hezbollah cease fire after a year, President Biden says Palestinians in war-torn Gaza also "deserve an end of the fighting and displacement."
3 Americans held for years in China released, White House says
Mark Swidan, Kai Li, and John Leung have been released from detention, a spokesperson for the National Security Council said.
Entertainment
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Grateful Dead remembers band member Phil Lesh
Members of the iconic band, the Grateful Dead, reflected on the impact bandmate Phil Lesh had on their lives and said they had hoped to play together again.
Grateful Dead bandmates remember Phil Lesh
Iconic band The Grateful Dead, is remembering one of the band's original members, Phil Lesh, who died in October at 84 years old. The surviving original members of the band credit Lesh for the impact he made in each of their lives and revealed they were hoping to play together one more time.
Harvey Weinstein accuses Rikers Island of substandard medical treatment
Harvey Weinstein's lawyers filed a legal claim alleging that he is receiving substandard medical treatment in unhygienic conditions while in custody at Rikers Island.
The Script on loss, resilience in new album
Irish band The Script continues to inspire with hits like "Hall of Fame," while moving forward after the loss of guitarist Mark Sheehan. Danny O'Donoghue talks to Natalie Morales about the band's journey, and how boxing helps him cope.
Danielle Pinnock talks "Ghosts"
Actor Danielle Pinnock joins "CBS Mornings" to talk about her role in the hit CBS comedy "Ghosts," where she plays a spirited 1920s jazz singer with plenty of sass.
Technology
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Australian lawmakers advance bill to bar under-16s from social media
Australia's House of Representatives has passed a bill that would ban children under the age of 16 from using most social media platforms.
AI grandma tool helps fend off phone scams
British phone company Virgin Media O2 has developed an AI-generated grandmother to talk to scammers all day and waste their time so you don't have to. CBS News Confirmed executive producer Melissa Mahtani has more on the "grandma" and how you can protect yourself from phone scams.
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.
Starbucks impacted by ransomware attack on software vendor
Starbucks managers forced to rely on manual systems to handle baristas' pay, but customers unaffected.
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.
Science
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NASA shows off image of U.S. military's abandoned "city under the ice"
Scientists now have a clearer picture of Camp Century, an abandoned U.S. military base long hidden under the ice in Greenland, thanks to a NASA research team's good luck.
Divided U.N. negotiations for plastic treaty
Negotiators are far apart as the United Nations tries to work out the world's first treaty to curb plastic pollution. Issues creating roadblocks include limiting new manufacturing of plastic and the potential phasing out of some chemicals. For more on the talks, CBS News was joined by Erin Simon, vice president and head of plastic waste and business for the World Wildlife Fund in the U.S.
Honolulu hopes to identify long-unclaimed bodies with advanced DNA testing
Forensic pathologists hope advanced DNA testing technology will enable them to attach names to all the unidentified people at the Honolulu Medical Examiner's Office.
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.
Crime
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Accused "Pink Panthers" member among 11 nabbed in cocaine bust
Police in the Balkans arrested 11 alleged members of a criminal syndicate responsible for smuggling cocaine from South America to Europe, officials said.
Bombing suspect on most wanted list arrested
Daniel Andreas San Diego, a suspect in in two 2003 northern California bombings, was arrested in the U.K. this week. San Diego, who had been one of the FBI's most wanted terror suspects, now faces extradition.
Honolulu hopes to identify long-unclaimed bodies with advanced DNA testing
Forensic pathologists hope advanced DNA testing technology will enable them to attach names to all the unidentified people at the Honolulu Medical Examiner's Office.
Drug cartel reeling in huge profits with illegal fishing in Gulf of Mexico
The cartel allegedly uses fishing boats to smuggle drugs and migrants — and catch tons of red snapper, a commercially valuable but vulnerable species.
Police officer who Tasered 95-year-old woman convicted of manslaughter
An Australian police officer who Tasered 95-year-old great-grandmother Clare Nowland in her care home has been found guilty of manslaughter.
Space
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Webb telescope captures stunning new image of the "Sombrero galaxy"
The Sombrero galaxy, named for its resemblance to the Mexican hat, is about 30 million light-years from Earth.
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.
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
Will the Israel-Hezbollah ceasefire deal hold?
Some Lebanese residents are returning to their homes despite warnings to wait until the ceasefire deal's terms take effect in the coming days. CBS News' Debora Patta has the latest and Robert Berger breaks down the tense wait to see if fighting resumes.
FBI investigating Trump picks threats
The FBI is investigating several threats apparently made against some of President-elect Donald Trump's Cabinet picks. CBS News' Katrina Kaufman has more on the type of threats being reported.
Trump team responds to threats
President-elect Donald Trump's transition team is reacting to apparent threats sent to several Cabinet picks for the former president's second term. CBS News' Libby Cathey has the latest.
3 Americans released in China in swap
The White House says three Americans have been released after being detained in China for years. Their release is part of an apparent prisoner swap, CBS News Scott MacFarlane reports.
Israel-Hezbollah ceasefire deal reaction
Lebanese residents celebrated the Israel-Hezbollah ceasefire deal as some return to their homes after intense months of strikes. This comes as the U.S. celebrates the truce, and as President-elect Donald Trump takes credit for the major development in the Middle East. BBC News' Lina Sinjab has more from Beirut and CBS News' Katrina Kaufman reports on Trump's team reaction.