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President Biden Thursday said the U.S. is better positioned to deal with inflation than any other nation in the world. David Nelson, chief strategist of Belpointe Asset Management, joins CBS News' Ben Tracy to discuss the state of the economy.
German Chancellor Olaf Scholz revealed in an exclusive interview with Margaret Brennan that Russian President Vladimir Putin is ready to wage war in Ukraine for "a long time." He also said even though Putin "will not really admit it," he "understands the deep impacts of our sanctions on his economy."
Investors are uneasy as signs point to possible recession caused by Fed interest rates hikes.
Despite added jobs and higher wages "Americans are running faster just to stay even," said one economist.
The latest Labor Department report shows that new unemployment filings fell to 231,000 for the week of June 25, down 2,000 from the previous week. CBS News' Vladimir Duthiers and Anne-Marie Green sit down with Kathryn Gill, a reporter for The Wall Street Journal, to discuss these figures and other developments in the U.S. labor market and economy.
Most Texans are having to drive less and cut back on spending.
Yahoo Finance anchor and reporter Akiko Fujita spoke with CBS News' Elaine Quijano and Tanya Rivero about the impacts of inflation on consumer confidence and spending. Fujita also discussed a new ban on Russian imports and how sanctions could affect the U.S. economy.
"Confidence is going to continue to shrink as long as inflation remains high," said one analyst.
The Consumer Confidence Index dropped in June to its lowest level since February 2021. The Expectations Index also dropped dramatically, falling to its lowest level since 2013. Yahoo Finance senior columnist Rick Newman joins CBS News to explain why those low expectations may not be real indicator of the direction of the economy.
Seniors are on track for the biggest cost-of-living adjustment in four decades, according to a new analysis.
All three major stock market indexes showed some volatility on Monday, with the Dow Jones down about 60 points at the end of the afternoon following early gains in the morning. Jeanna Smialek, a reporter covering the Federal Reserve and the economy at The New York Times, discussed factors driving the current market and how the Fed is working to combat inflation on CBS News.
The Conference Board will release its latest consumer confidence survey Tuesday, detailing the attitudes of consumers across the country. CBS News' Tony Dokoupil and Tanya Rivero sit down with Lori Bettinger, president of BancAlliance and former director of the Troubled Asset Relief Program, about what to expect from that report as well as another consumer price measure being released later this week.
Supreme Court abortion ruling sparks nationwide protests; Amid inflation concerns, many are stockpiling U.S. currency
President Biden is in Germany for the annual G-7 summit, where world leaders are set to discuss pressing global issues such as the war in Ukraine and worldwide inflation. Ed O'Keefe has the details.
Food prices are up 10%, new vehicles 12.5% and gasoline almost 50% compared to last year, according to U.S. Bureau of Labor Statistics.
Aaron Weinman, finance correspondent for Business Insider, joined CBS News' Michelle Miller and Tanya Rivero to discuss Friday's stock market rally.
Financial markets are rising, with some analysts predicting an economic slowdown rather than a recession.
According to the U.S. Department of Labor, initial jobless claims fell to 229,000 for the week ending June 18th. That's 2,000 fewer than the previous week. CBS News reporter Sarah Ewall-Wice joined Errol Barnett and Anne-Marie Green to discuss what these numbers mean for the U.S. economy and yesterday's congressional testimony on inflation from Federal Reserve Chair Jerome Powell.
President Biden is calling on Congress to suspend the federal 18-cent federal gas tax and 24-cent federal diesel tax. CBS News chief White House correspondent Nancy Cordes reports.
President Biden called on Congress to halt the federal gas tax for three months as gas prices soar. But there's debate about whether it will actually help consumers. Nancy Cordes has the details.
CBS News' Tanya Rivero and Elaine Quijano sit down with Aaron Weinman, a finance correspondent for Insider, to discuss what is driving the financial markets, the probability of a recession, and President Biden's proposed gas tax holiday.
Fed Chairman Jerome Powell acknowledged recession is possible but later said its likelihood is not "particularly elevated right now."
President Joe Biden is urging congress to pass a three-month federal gas tax holiday. However, some Democrats -- including former President Barack Obama -- have long criticized the idea. CBS News Senior White House and Political Correspondent Ed O'Keefe has more on why Biden is moving forward with this proposal.
Stocks have slumped in recent weeks amid investor fears that sharply higher interest rates could trigger a recession.
Several major investment banks are predicting that the U.S. will enter a recession sometime this year. This month the Federal Reserve announced its highest interest rate hike in decades in an effort to control inflation. Yahoo Finance Senior Reporter Emily McCormick joins “CBS News Mornings” to discuss the latest on the economy.
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."
Mark Swidan, Kai Li, and John Leung have been released from detention, a spokesperson for the National Security Council said.
Tariffs on U.S. imports would raise prices for consumers on a range of goods, experts say. Here's what to know.
President Biden has been briefed on the incidents and "unequivocally" condemns threats of political violence, the White House said.
Donald Trump's proposed tariffs on Canada could increase U.S. gas prices by up to 70 cents a gallon, energy experts say.
A ban on transgender students from kindergarten through college using multiperson bathrooms that fit their gender identities has become law in Ohio.
Sean "Diddy" Combs' lawyers again asked the rapper be released on bond ahead of his trial, but the request was denied.
A November 2023 survey from the Pew Research Center found that 72% of people think tipping is expected in more places than it was five years ago.
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.
Before temperatures dip to single digits, the cranberry bogs at the Lee Brothers Cranberry Farm will have to be flooded to keep the fragile buds from drying out.
A November 2023 survey from the Pew Research Center found that 72% of people think tipping is expected in more places than it was five years ago.
Arizona Attorney General Kris Mayes said that she will soon seek an execution warrant for Aaron Brian Gunches, who is on death row for killing his girlfriend's ex-husband.
Sean "Diddy" Combs' lawyers again asked the rapper be released on bond ahead of his trial, but the request was denied.
A scraggly white Terrier named Scrim has captivated the hearts of many in New Orleans hoping to help him back to a safer, easier life in the Big Easy.
A November 2023 survey from the Pew Research Center found that 72% of people think tipping is expected in more places than it was five years ago.
Here's what a noted housing expert thinks will happen to mortgage rates next year as Donald Trump outlines his priorities.
Donald Trump's proposed tariffs on Canada could increase U.S. gas prices by up to 70 cents a gallon, energy experts say.
Consumers are expected to open their wallets this holiday season, with these children's toys high on the list.
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.
Former Sen. Bob Menendez, a Democrat from New Jersey, was convicted of 16 felony counts in July.
Keith Kellogg, a retired lieutenant general, served as national security adviser to former Vice President Mike Pence.
President Biden has been briefed on the incidents and "unequivocally" condemns threats of political violence, the White House said.
The Trump transition team has yet to sign key agreements with the Justice Department or General Services Administration, White House officials say.
Dr. Jay Bhattacharya, who has faced restrictions on social media platforms because of his views, was a critic of pandemic lockdowns and vaccine mandates.
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 is Thanksgiving traditionally associated with turkey and other specific foods? We asked a history expert why we eat what we do on the holiday.
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.
A federal panel has been meeting for months to draft recommendations.
Dr. Jay Bhattacharya, who has faced restrictions on social media platforms because of his views, was a critic of pandemic lockdowns and vaccine mandates.
Police in the Balkans arrested 11 alleged members of a criminal syndicate responsible for smuggling cocaine from South America to Europe, officials said.
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.
Australia's House of Representatives has passed a bill that would ban children under the age of 16 from using most social media platforms.
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."
Mark Swidan, Kai Li, and John Leung have been released from detention, a spokesperson for the National Security Council said.
Sean "Diddy" Combs' lawyers again asked the rapper be released on bond ahead of his trial, but the request was denied.
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.
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's lawyers filed a legal claim alleging that he is receiving substandard medical treatment in unhygienic conditions while in custody at Rikers Island.
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.
Australia's House of Representatives has passed a bill that would ban children under the age of 16 from using most social media platforms.
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.
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 managers forced to rely on manual systems to handle baristas' pay, but customers unaffected.
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.
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.
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.
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.
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.
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.
Sean "Diddy" Combs' lawyers again asked the rapper be released on bond ahead of his trial, but the request was denied.
Police in the Balkans arrested 11 alleged members of a criminal syndicate responsible for smuggling cocaine from South America to Europe, officials said.
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.
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.
The cartel allegedly uses fishing boats to smuggle drugs and migrants — and catch tons of red snapper, a commercially valuable but vulnerable species.
The Sombrero galaxy, named for its resemblance to the Mexican hat, is about 30 million light-years from Earth.
Marc and Sharon Hagle, both making their second space flight, were among the passengers for the NS-28 mission.
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.
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.
President-elect Donald Trump was on hand with Elon Musk for the sixth test flight of SpaceX's huge Super Heavy-Starship rocket.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
See some of convicted serial killer Rodney Alcala's photographs that were discovered by detectives in a Seattle storage locker.
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.
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.
Scrim the rescue dog has become a familiar sight to some in New Orleans, as his face has been plastered on missing posters more than once. The well-known rescue dog has escaped once again, but recent sightings give people hope he'll be home again soon. Kati Weis has the story.
The FBI is investigating multiple threats made against some of President-elect Donald Trump's administration picks like Susie Wiles, Pam Bondi, Howard Lutnick and others. CBS News political reporter Libby Cathey has more on the attacks and the Trump transition.
Sean "Diddy" Combs will not get out of jail on bail after a federal judge denied his latest request Wednesday.
The fighting between Israeli forces and the Iran-backed militant group Hezbollah forced over a million people to leave their homes. Some began returning to Southern Lebanon on Wednesday. CBS News foreign correspondent Debora Patta reports.
Something is in the air in New York City --it's the Macy's Thanksgiving Day Parade balloons! CBS News New York reporter Alecia Reid has more on the characters to expect and what's behind the fun display.