Is inflation deflating retirement savings?
Dan Geltrude, founder of accounting and financial consulting firm Geltrude and Company, offers advice for navigating retirement spending as inflation soars and the stock market sinks.
Inflation
Stocks bounce back after steep selloff last week
Financial markets rebounded Tuesday, but some analysts think U.S. stocks have yet to touch bottom.
Possibility of economic recession looms
The possibility of a recession is looming large, as the Federal Reserve raises interest rates in the hopes of driving down inflation. President Joe Biden's critics argue he's not doing enough to address the issue and say rate hikes could cause more economic turmoil. Rick Newman, senior columnist with Yahoo Finance, joined CBS News to discuss some ways to lower consumer costs and prevent an economic downturn.
What is Stagflation
The term describes when the economy suffers from high unemployment and inflation with low growth. Lana Zak explains why economists are worried it could happen again.
Biden considering federal gas tax holiday
President Biden is considering a federal gas tax holiday, which could save consumers money at the pump amid rising inflation and gas prices. CBS News chief White House correspondent Nancy Cordes joins "Red and Blue" to discuss the administration's approach to the economy. Then, CBS News congressional correspondent Scott MacFarlane breaks down the latest from the January 6 committee.
Recession fears surge among financial experts
President Joe Biden insists that a recession is not inevitable despite some experts forecasting that it could happen within the next year. CBS News Money Watch reporter Megan Cerullo discussed inflation and how it may impact the U.S. economy with anchors Tony Dokoupil and Tanya Rivero.
White House says recession is not inevitable
As inflation remains high and the stock market falls, U.S. Treasury Secretary Janet Yellen and other White House officials are amplifying President Joe Biden's message that a recession is not inevitable. CBS News anchors Anne-Marie Green and Vladimir Duthiers spoke with political correspondent Caitlin Huey-Burns about the Biden Administration's potential plans to offer temporary relief from rising gas prices.
What's driving inflation in the U.S.
CBS News senior national correspondent Mark Strassmann reports on what's driving the rise in prices and how Americans are coping with inflation.
Open: This is "Face the Nation with Margaret Brennan," June 19
This week on “Face the Nation with Margaret Brennan,” we discuss the Jan. 6 hearings with Rep. Zoe Lofgren, a Democrat from California, go over the recently approved COVID-19 vaccine for kids with former FDA Commissioner Dr. Scott Gottlieb and take a look at America’s inflation problem.
6/19: Face The Nation
This week on "Face the Nation with Margaret Brennan," we discuss the Jan. 6 hearings with Rep. Zoe Lofgren, a Democrat from California, go over the recently approved COVID-19 vaccine for kids with former FDA Commissioner Dr. Scott Gottlieb and take a look at America’s inflation problem.
Stock market ends volatile week with sharp losses
The U.S. stock market on Friday ended its worst week since March 2020. John Quelch, dean of the University of Miami Herbert Business School, joins CBS News senior investigative correspondent Catherine Herridge to discuss the state of the economy.
Analyzing a whirlwind week for stocks
CBS News' Elaine Quijano and Michelle Miller sit down with Brian Sozzi, editor-at-large and anchor for Yahoo! Finance, to discuss what's driving the U.S. stock market, the volatility of the cryptocurrency market, and the likelihood of a recession.
Global fallout from Russia's invasion
The conflict raging in Ukraine is damaging worldwide economic growth and driving inflation. Michael Bociurkiw, senior fellow at The Atlantic Council's Eurasia Center, joins "CBS News Mornings" to talk about why the worst might still be ahead and other news about the conflict.
Biden administration tackles skyrocketing gas prices
In a letter to seven oil companies, President Biden asked for more gas to address high gas prices. The senior vice president of policy, economics and regulatory affairs at the American Petroleum Institute, Frank Macchiarola, joins "Red and Blue" to discuss the Biden administration's approach to gas prices.
Biden speaks on inflation and economy
President Biden spoke Thursday with The Associated Press about inflation and the state of the U.S. economy, and held a meeting with Speaker of the House Nancy Pelosi and Senate Majority Leader Chuck Schumer on economic issues. CBS News senior White House and political correspondent Ed O'Keefe joins "Red and Blue" to discuss this and more.
Biden predicts a recession is "not inevitable"
President Joe Biden, in an interview with The Associated Press Thursday, said the American people are "really, really down" because of COVID-19 and high prices.
Anger brews over official's call for Pakistanis to drink less tea
The government minister's suggestion on how to people might help to ease Pakistan's economic crisis didn't go down well.
6/16: CBS News Mornings
Federal Reserve looking to slow spending amid record inflation; U.S. veterans who fought for Ukraine may have been captured
Mortgage rates in the U.S. jump by most in 35 years
Borrowing costs for a typical home loan surged a day after the Federal Reserve hiked its benchmark rate.
Financial expert talks impact of rate hike
The Federal Reserve raised interest rates by 0.75 percentage points Wednesday in an effort to fight inflation. CBS News Chief White House Correspondent Nancy Cordes reports on how the Biden administration is responding to the news, then CBS News Business Analyst Jill Schlesinger breaks down the impacts of this rate hike on the job market and your finances.
White House reacts to Fed interest rate hike
After a historic move by the Federal Reserve to hike interest rates, the White House is running out of options to fight rising inflation. CBS News Chief White House Correspondent Nancy Cordes joins "CBS News Mornings" with more.
White House reacts to historic fed hike
The Federal Reserve took aggressive action to combat rising inflation by raising interest rates by 0.75%, the largest increase since 1994. Chief White House correspondent Nancy Cordes has the latest reaction from the White House.
6/15: Red and Blue
Biden pushes oil companies on gas production; FDA panel supports COVID vaccine for kids under 5
Biden calls out oil companies as gas prices soar
President Biden sent letters to several U.S. oil companies Wednesday, asking them to do more to reduce the price of gas. Zeke Miller, a CBS News political contributor and White House reporter for the Associated Press, joined Matt Pieper to discuss the issue.
How Fed's interest rate hike could impact consumers
The Federal Reserve announced Wednesday it is raising its benchmark interest rate by three-quarters of a percentage point, the sharpest hike since 1994. CBS News correspondent Carter Evans reports on the decision. Then, Megan Greene, global chief economist for the Kroll Institute and a senior fellow at the Harvard Kennedy School, joins CBS News to discuss how the increase could affect the consumers.
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.
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.
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."
Stowaway caught after getting aboard Delta flight from New York City to Paris
The woman boarded Delta Flight No. 264 from John F. Kennedy International Airport to Paris Charles de Gaulle Airport, CBS News learned. She was discovered while the plane was in midair and was taken into custody in Paris.
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.
Trump tariffs on Canada imports could bring sharply higher gas prices
Donald Trump's proposed tariffs on Canada could increase U.S. gas prices by up to 70 cents a gallon, energy experts say.
Sean "Diddy" Combs denied bail again ahead of sex trafficking trial
Sean "Diddy" Combs' lawyers again asked the rapper be released on bond ahead of his trial, but the request was denied.
Has tipping reached a tipping point?
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.
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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Stowaway caught after getting aboard Delta flight from New York City to Paris
The woman boarded Delta Flight No. 264 from John F. Kennedy International Airport to Paris Charles de Gaulle Airport, CBS News learned. She was discovered while the plane was in midair and was taken into custody in Paris.
New Jersey farmers struggle amid drought conditions
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.
Has tipping reached a tipping point?
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 executions to resume, attorney general says
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.
New Orleans community mobilizes to find runaway dog
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.
MoneyWatch
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Has tipping reached a tipping point?
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.
How Trump's economic agenda could affect mortgage rates in 2025
Here's what a noted housing expert thinks will happen to mortgage rates next year as Donald Trump outlines his priorities.
Trump tariffs on Canada imports could bring sharply higher gas prices
Donald Trump's proposed tariffs on Canada could increase U.S. gas prices by up to 70 cents a gallon, energy experts say.
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.
Politics
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Ex-Sen. Bob Menendez seeks new trial
Former Sen. Bob Menendez, a Democrat from New Jersey, was convicted of 16 felony counts in July.
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.
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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Stowaway caught after getting aboard Delta flight from New York City to Paris
The woman boarded Delta Flight No. 264 from John F. Kennedy International Airport to Paris Charles de Gaulle Airport, CBS News learned. She was discovered while the plane was in midair and was taken into custody in Paris.
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."
Entertainment
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Sean "Diddy" Combs denied bail again ahead of sex trafficking trial
Sean "Diddy" Combs' lawyers again asked the rapper be released on bond ahead of his trial, but the request was denied.
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.
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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Sean "Diddy" Combs denied bail again ahead of sex trafficking trial
Sean "Diddy" Combs' lawyers again asked the rapper be released on bond ahead of his trial, but the request was denied.
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.
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
Beloved rescue dog on the loose in New Orleans
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.
Threats made against Trump's picks
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' latest bail request denied
Sean "Diddy" Combs will not get out of jail on bail after a federal judge denied his latest request Wednesday.
Israel-Hezbollah ceasefire holds
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.
Macy's Thanksgiving Day Parade balloons
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.