Watch CBS News
2024 was a departure from the high inflation numbers of just two years ago, but the fight against rising prices is not over. CBS News MoneyWatch correspondent Kelly O'Grady looks back on the biggest economic and business stories of the year.
The Federal Reserve said it is lowering rates by a quarter of a percentage point on Wednesday, marking a full percentage point drop since September. CBS News business analyst Jill Schlesinger explains the impact on your finances.
The Dow Jones Industrial Average fell more than 1,100 points Wednesday. Earlier in the day, the Federal Reserve lowered its benchmark rate a quarter-point. However, the precipitous drop in stock markets came after Federal Reserve Chairman Jerome Powell's remarks that the Fed may not slash rates in 2025 as much as had initially been projected. Kelly O'Grady explains.
The Federal Reserve announced its third consecutive interest rate cut of the year on Wednesday, cutting its benchmark rate by a quarter point. Interest rates have now been slashed by a full percentage point since September. CBS News contributor Javier David breaks down its impact.
The Federal Reserve cut interest rates Wednesday for the third consecutive month, slashing rates by a quarter percentage point. It was the Fed's final rate decision before the inauguration of President-elect Donald Trump, who has been a longtime critic of Federal Reserve Chairman Jerome Powell. CBS News MoneyWatch correspondent Kelly O'Grady joins to break down the move.
The Federal Reserve on Wednesday moved to lower its benchmark rate by 0.25 percentage points, but said it plans fewer cuts in 2025.
The Federal Reserve announced a third rate cut today, but also cautioned it expects fewer cuts in 2025.
The annual inflation rate in the U.S. ticked up slightly in November. The Bureau of Labor Statistics reported that the Consumer Price Index for all items rose 2.7% in the past year, which was in line with economists' expectations. CBS News MoneyWatch correspondent Kelly O'Grady breaks it all down.
Grocery giant Albertsons called off its nearly $25 billion merger with Kroger after a federal judge temporarily blocked the union Tuesday in an effort to protect consumers from increasing costs. Albertsons is also suing the rival grocery chain, claiming Kroger willfully breached the merger agreement. CBS News MoneyWatch correspondent Kelly O'Grady has the details.
A federal appeals court upheld a law Friday that would ban TikTok in the U.S. if the app's Chinese parent company, ByteDance, does not sell it. TikTok and ByteDance could still appeal the case to the Supreme Court. CBS News MoneyWatch correspondent Kelly O'Grady joins to unpack the challenges of reaching a deal, with the law set to take effect on Jan. 19.
The average rate on credit cards from some of America's biggest retailers has soared to an all-time high of more than 30%, according to personal finance site Bankrate. That's up from just over 24% in 2021. CBS News MoneyWatch correspondent Kelly O'Grady has a look at the rates.
The 30-year fixed mortgage rate appears to be rising as buyers await a good time to enter the market. Maria Avellaneda, an associate broker for Keller Williams NYC, joins CBS News with more.
Americans are bracing for President-elect Donald Trump's proposed tariff hikes on imported goods. CBS News MoneyWatch correspondent Kelly O'Grady looks at the potential economic impact. Then, small business owner Andy Gossett joins to discuss what the tariffs would mean for his outdoor sporting goods company.
New economic data is trickling in and the latest producer price index numbers could signal a potential trend about the state of inflation in the U.S. CBS MoneyWatch correspondent Kelly O'Grady has more.
The consumer price index in October rose 2.6% year-over-year, the Labor Department reported Wednesday, a higher rate than September's 2.4%. The uptick means the Federal Reserve's 2% target rate is further out of reach. Kelly O'Grady reports.
if a rise in inflation becomes a trend it could affect the Federal Reserve's quest to reach its target rates and keep the economy healthy. CBS News' Kelly O'Grady has more on the new data.
New data shows inflation rose slightly as the Federal Reserve navigates interest rate cuts following signs of cooling prices and a weaker labor market. CBS News contributor JD Durkin has more.
U.S. inflation rose 2.6% on an annual basis in October, matching forecasts from economists, but signaling a bumpy road ahead in the Federal Reserve's battle to tame inflation. CBS News MoneyWatch correspondent Kelly O'Grady has more.
The stock market hit pause Tuesday on its record-setting spike after President-elect Donald Trump's victory, but what comes after the honeymoon? CBS News MoneyWatch correspondent Kelly O'Grady joins "America Decides" to dive into the market surge and the months ahead.
Neel Kashkari, the president of the Minneapolis Federal Reserve, tells "Face the Nation with Margaret Brennan" that another interest rate cut after the December Fed meeting is "certainly possible" but "we want to have confidence that inflation is going to go all the way back down to our 2% target."
The Federal Reserve on Thursday lowered its benchmark borrowing rate by 0.25 percentage points. Kelly O'Grady examines what the move could mean for Americans' pocketbooks.
CBS News estimates that control of the House of Representatives is lean Republican. Meanwhile, the GOP flipped the Senate with longtime leader Mitch McConnell stepping down from the role. CBS News congressional correspondent Nikole Killion has more.
The Federal Reserve cut interest rates for the second time this year just days after the end of a presidential race in which inflation played a big role. CBS News MoneyWatch correspondent Kelly O'Grady looks at what impact the decision could have on the economy.
The Federal Reserve announced its second interest rate cut of 2024, but Trump's economic priorities could impact future policy.
As the Fed wraps up its two-day meeting, there's a chance of another interest rate cut. CBS News business analyst Jill Schlesinger joins "CBS Mornings Plus" to talk about the potential impact on the economy and what it means for consumers.
The stopgap measure to fund the government and provide tens of billions in disaster relief passed the Senate and now goes to President Biden for his signature.
Police say the driver is under arrest after plowing into the crowd at a Christmas market in Magdeburg, Germany, killing at least five people and injuring at least 200.
Senators approve a bill to expand Social Security benefits to millions of Americans, with President Biden expected to sign it into law.
The suspect, identified by local media as 50-year-old Taleb A., was arrested after plowing a black BMW into a Christmas market crowded with holiday shoppers in Magdeburg, Germany, killing at least five people and wounding more than 200 others.
The Senate confirmed two more judges to the federal bench on Friday, giving President Biden a total of 235 since he took office.
Historians say Trump falsely said he was the only president to collect revenue from tariffs on Chinese goods, among other claims.
The 2024 winter solstice, the shortest day of the year, happens on Saturday, Dec. 21, and is marked with traditions and celebrations around the world.
The stampede occurred in the early morning at a church in Nigeria, prompting evacuations at the church.
Inside Gaza, mourners held funerals for 19 people, 12 of them children, killed in Israeli strikes.
Pope Francis has told Vatican bureaucrats to stop speaking ill of one another, calling gossip "an evil that destroys social life."
Senators approve a bill to expand Social Security benefits to millions of Americans, with President Biden expected to sign it into law.
The 2024 winter solstice, the shortest day of the year, happens on Saturday, Dec. 21, and is marked with traditions and celebrations around the world.
Here's what's driving up home heating costs, and how much families are expected to spend this winter.
The IRS said it's sending out checks worth up to $1,400 to 1 million people. Here's what to know about the "special payments."
Senators approve a bill to expand Social Security benefits to millions of Americans, with President Biden expected to sign it into law.
Here's what's driving up home heating costs, and how much families are expected to spend this winter.
The IRS said it's sending out checks worth up to $1,400 to 1 million people. Here's what to know about the "special payments."
Government watchdog claims Americans lost hundreds of millions to fraud related to the bank-operated mobile payments network.
Here's what the anticipated record number of holiday travelers should know about how a government shutdown could affect trips.
The Senate confirmed two more judges to the federal bench on Friday, giving President Biden a total of 235 since he took office.
Historians say Trump falsely said he was the only president to collect revenue from tariffs on Chinese goods, among other claims.
Government watchdog claims Americans lost hundreds of millions to fraud related to the bank-operated mobile payments network.
The warning came before the House passed a last-minute stopgap funding bill with bipartisan support Friday night, sending it to the Senate.
The Biden administration is canceling federal student loans for another 55,000 workers to the tune of $4.28 billion in what's expected to be the last such round before he leaves office.
Isaac Klapper was 10 years old when he started having episodes of what doctors initially thought was a movement disorder.
Humans aren't alone when it comes to yawning — all vertebrates do it. But why? An expert explains the likely reason behind this "evolutionarily ancient" act.
Skin care is all the rage for teens and tweens these days, but be careful not to give products that could cause more harm than good.
A Chicago man was stuck with a big medical bill after undergoing a colonoscopy that found no evidence of cancer. Here's why.
Some 13 oz. bags of Lay's Classic Potato Chips may contain an undeclared allergen, according to the snack company.
Pope Francis has told Vatican bureaucrats to stop speaking ill of one another, calling gossip "an evil that destroys social life."
In 2024, more than 10,000 people died in traffic accidents in Brazil, according to the Ministry of Transportation.
Inside Gaza, mourners held funerals for 19 people, 12 of them children, killed in Israeli strikes.
The suspect, identified by local media as 50-year-old Taleb A., was arrested after plowing a black BMW into a Christmas market crowded with holiday shoppers in Magdeburg, Germany, killing at least five people and wounding more than 200 others.
The stampede occurred in the early morning at a church in Nigeria, prompting evacuations at the church.
The New York City Ballet has been performing "The Nutcracker" for decades. Each year, young dancers make their mark on the ballet.
Director Robert Eggers' highly-anticipated horror film "Nosferatu" will hit theaters on Christmas Day. The acclaimed director sat down with CBS Saturday Morning to talk about bringing the classic vampire tale to a new audience.
50 years ago, "The Godfather Part II" was playing in theaters nationwide. The film catapulted Lee Strasberg, whose namesake form of acting preparation was used by some of the film's leads, to stardom. Dozens of the entertainment industry's biggest stars have trained at his institute, learning the techniques of method acting. Michelle Miller went behind the scenes to learn more about "The Method Man."
The New York City Ballet's production of "The Nutcracker" began in 1954 and has remained one of the most enduring shows at Lincoln Center. Two young dancers taking the stage this year opened up about living their dream and keeping a holiday classic alive.
Tyler Perry and Kerry Washington team up on the film "Six Triple Eight," spotlighting the only all-Black women's battalion in Europe during WWII. Washington stars as Charity Adams, the highest-ranking Black female officer.
The Supreme Court said Wednesday it will hear an appeal from TikTok over a federal law that would ban the social media giant if it is not sold by its Chinese parent company. Jan Crawford has more.
Elliston Berry's life was turned upside down after a photo she posted on Instagram was digitally altered online to be pornographic.
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.
The Supreme Court plans to hear arguments in January on a challenge to a new law that could lead to the popular social media app TikTok being banned in the U.S. The Biden administration and lawmakers say the Chinese government's ability to collect data from TikTok poses a significant national security risk, while the app and its Chinese parent company ByteDance argue that the law is unconstitutional. CBS News Supreme Court producer Catherine Cole has more.
FAA data shows that lithium battery fires on U.S. flights have risen 388% since 2015, now occurring nearly twice a week.
The 2024 winter solstice, the shortest day of the year, happens on Saturday, Dec. 21, and is marked with traditions and celebrations around the world.
This week a group of plaintiffs in Missouri, Kansas, California and Florida filed a class-action lawsuit against dozens of companies and organizations, claiming they've falsely promoted how easy it is to recycle plastics. CBS News Los Angeles climatologist Marina Jurica has the details.
Humans aren't alone when it comes to yawning — all vertebrates do it. But why? An expert explains the likely reason behind this "evolutionarily ancient" act.
Early Americans may have spent millennia sharing prehistoric savannas and wetlands with enormous beasts, research shows.
The Environmental Protection Agency under President Biden created a new Office of Environmental Justice that seeks to address pollution levels in disadvantaged and marginalized communities. However, there is concern that the incoming Trump administration could do away with the new department. David Schechter reports.
Luigi Mangione, now held in a New York City lock-up, could face the death penalty if convicted of the shooting death of UnitedHealthcare CEO Brian Thompson. The killing is sparking new concerns about violent extremism bubbling across the country.
At least two people are dead and dozens more injured after a vehicle plowed into a crowd at a Christmas market in Magdeburg, Germany. Authorities say the driver of the car was arrested and that it appears to be a deliberate attack. Elaine Cobbe has details.
At least two people were killed and over 60 were injured after a car crashed into a Christmas market in eastern Germany. Authorities arrested a suspect, saying they believe he acted alone in the deliberate act. CBS News national security contributor Sam Vinograd has more details.
At least two people, including a toddler, were killed, and at least 60 more hurt, after a car crashed into a Christmas market in Magdeburg, Germany, in what authorities said appeared to be a deliberate attack. German police said a Saudi man has been arrested, but a motive has not yet been determined. CBS News reporter Anna Noryskiewicz has more.
More than 60 people were injured and at least two killed Friday after a driver rammed into a crowded Christmas market in Magdeburg, Germany. The driver is in custody and local government officials say they suspect the crash was deliberate. CBS News reporter Haley Ott has the latest details.
New analysis techniques and decades-old research helped NASA scientists identify an unusual black hole in a distant galaxy.
Here's why NASA astronauts Suni Williams and Butch Wilmore are stuck, but not stranded, at the International Space Station after launching into space in June.
NASA has delayed the return date for Boeing's Starliner astronauts Butch Wilmore and Suni Williams. CBS News' Manuel Bojorquez reports on the decision to keep the two in space.
NASA Administrator Bill Nelson says he's optimistic the Trump administration will support the space agency's agenda.
Two astronauts who have been stuck in space since June will have to wait until at least the end of March to come home after NASA on Wednesday again pushed back their return date. Derrick Pitts, chief astronomer for the Franklin Institute, joined CBS News to discuss what's causing the delays.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Peterson's death sentence for the murder of his pregnant wife Laci has been overturned. Now his supporters are pushing for a complete retrial.
The seesaw marriage between the former ballerina and her much older husband only lasted four years, until she shot him on Sept. 27, 2020.
Cayley Mandadi's mother and stepfather go to extreme lengths to prove her death was no accident.
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.
Chicago-based chef Rick Bayless has spent decades traveling to Mexico, bringing the flavors and traditions back to the United States. He's written nine cookbooks and hosted a PBS cooking show, while his restaurants have earned culinary honors, including Michelin stars. Now, on a special holiday edition of the Dish, Bayless opens up about his annual tradition of spending Christmas in Mexico.
Legendary singer-songwriter Ben Folds rose to fame with his band, "Ben Folds Five," before launching a solo career in the early 200s. Since then, he's recorded multiple studio albums and established himself as one of the most ambitious and versatile performers of his generation. This past October, he released his first Christmas collection, "Sleigher," featuring a mix of original songs and reimagined classics. Now from "Sleigher," here is Ben Folds with "We Could Have This."
Legendary singer-songwriter Ben Folds rose to fame with his band, "Ben Folds Five," before launching a solo career in the early 200s. Since then, he's recorded multiple studio albums and established himself as one of the most ambitious and versatile performers of his generation. This past October, he released his first Christmas collection, "Sleigher," featuring a mix of original songs and reimagined classics. Now from "Sleigher," here is Ben Folds with "The Christmas Song."
Legendary singer-songwriter Ben Folds rose to fame with his band, "Ben Folds Five," before launching a solo career in the early 200s. Since then, he's recorded multiple studio albums and established himself as one of the most ambitious and versatile performers of his generation. This past October, he released his first Christmas collection, "Sleigher," featuring a mix of original songs and reimagined classics. Now from "Sleigher," here is Ben Folds with "Me And Maurice."
Director Robert Eggers' highly-anticipated horror film "Nosferatu" will hit theaters on Christmas Day. The acclaimed director sat down with CBS Saturday Morning to talk about bringing the classic vampire tale to a new audience.