Stocks fall over interest rate hike fears
Stocks slumped Tuesday after Federal Reserve chair Jerome Powell indicated there will be more interest rate hikes in response to ongoing inflationary pressure.
Stocks slumped Tuesday after Federal Reserve chair Jerome Powell indicated there will be more interest rate hikes in response to ongoing inflationary pressure.
Federal Reserve Chair Jerome Powell said interest rates could climb higher than what experts had first predicted. He testified on Capitol Hill on Tuesday as inflation remains stubbornly high. CBS News reporter Sarah Ewall-Wice discussed Powell's latest comments on possible rate hikes and on the looming debt ceiling crisis.
Daryl Fairweather, a chief economist for Redfin, joins CBS News' Errol Barnett and Elaine Quijano to explain what's driving the decline in mortgage applications. She also discusses forecasts for the housing market's 2023 performance.
Some policy experts are urging the central bank to stop jacking up interest rates before it tanks the economy.
Americans in their 30s are struggling with mounting debt, surpassing other age groups, and rising interest rates are making it harder to pay the bills. CBS News' Tony Dokoupil and Lilia Luciano are joined by Yahoo Finance reporter Akiko Fujita.
The stock market fell on Friday as investors responded to the latest inflation data which came in higher than expected. Brian Vendig, president of MJP Wealth Advisors, joined CBS News to discuss how the latest data could force the Federal Reserve to raise interest rates higher than anticipated.
The stock market stayed relatively flat Wednesday following the release of the Federal Reserve's minutes prior to its last interest rate hike. CapWealth chief investment officer Tim Pagliara joined CBS News to discuss.
Existing home sales declined once again in January for the 12th straight month, to the lowest level posted in more than 12 years. Veronica Dagher, a personal finance reporter for the Wall Street Journal, joins CBS News to discuss how you should maneuver the market if you're looking for a new home.
Personal finance columnist Michelle Singletary joins CBS News' Errol Barnett and Elaine Quijano to offer some tips for lowering credit card debt as consumers grapple with inflation and rising interest rates.
The stock market saw a sharp rise Monday ahead of the release of the January Consumer Price Index report, and as the last round of large companies prepare to release their 2022 fourth-quarter earnings. Landsberg Bennet Private Wealth Management chief investment officer Michael Landsberg joined CBS News to discuss what the developments mean for investors.
The Dow Jones ended Wednesday in the red following President Biden's State of the Union address. Dan Geltrude, founder of accounting firm Geltrude and Company, joined CBS to discuss the economic impact of the speech.
Jared Bernstein, a member of the White House Council of Economic Advisers, joined CBS News to discuss the optimistic message in President Biden's State of the Union address and the state of the American economy.
The latest jobs report shows the unemployment rate is at its lowest level in 50 years. Terry Haines, founder of Pangaea Policy, joined CBS News to discuss how President Biden could frame his administration's economic record.
The January jobs report showed unemployment at its lowest since 1969, but investors fear the hot economy will bring further interest rate hikes from the Federal Reserve. Lori Bettinger, president of Bancalliance, joined CBS News to discuss why the prospect of a soft landing is looking more likely.
CBS News foreign correspondent Ramy Inocencio joins us with a roundup of the top international MoneyWatch headlines of the week, including an interest rate hike in the U.K., the IMF's upgraded global growth projections, and record profits for oil and gas companies.
In an effort to curb inflation, the Bank of England has raised interest rates by half a percentage point. Professor at Miami Herbert Business School John Quelch joins "CBS News Mornings" to explain how that compares to the rate hikes in the U.S. and what it signals about the state of the British economy.
President Biden and House Speaker Kevin McCarthy met Wednesday to discuss the debt ceiling and open the door for budget cut negotiations. David Wessel, director of the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution, joins CBS News' John Dickerson to discuss what it would take to balance the budget and what that would do to the economy.
As it continues efforts to combat inflation, the Federal Reserve on Wednesday increased interest rates by a quarter-point. In a statement, the Fed said that further hikes are likely.
Because inflation is easing, Fed is increasing rates at slower pace. But borrowing will still be more expensive.
While the central bank is slowing its rate increases, Jerome Powell told investors not to expect lower rates this year.
Javier David, a managing editor of business and markets for Axios and a CBS News contributor, joins Lana Zak and Elaine Quijano as the Federal Reserve announces it is raising rates for the eighth time over the course of a year. He explains why the central bank decided on the quarter-point increase and what it means for the U.S. economy.
The Federal Reserve is expected to announce another interest rate hike today, but the increase is expected to be lower than previous hikes that began in March 2022. Fed Chairman Jerome Powell will address the media this afternoon. CBS News reporter Sarah Ewall-Wice joins us to discuss the significance.
As tech companies cutting thousands of jobs this month, CBS News correspondent Vladimir Duthiers discusses how the Federal Reserve's interest rate hikes have contributed to the industry's financial woes.
Conference Board index has fallen 10 months in a row, indicating a recession is likely sometime this year.
Many real estate experts say they expect to see lower housing prices in 2023. CBS News' Tony Dokoupil and Lilia Luciano are joined by Kenny Simpson, mortgage adviser for The Simpson Team, to discuss the market trends.
Whelan, who was arrested in Russia in 2018, got little sleep and used secret cellphones to communicate with prisoners sent to the frontlines in Ukraine.
The documents, which are marked top secret, were posted to the Telegram messaging app.
Israel has been carrying out a large-scale operation in northern Gaza for the last two weeks, saying Hamas has regrouped there.
Georgia authorities announced Sunday an investigation has been opened into the "catastrophic failure" of the dock gangway.
The cold open skit marked Baldwin's return to the comedy sketch show after the "Rust" involuntary manslaughter case was dismissed in July 2024.
Oscar, which the National Hurricane Center characterized as "very small," is the 15th named storm of the hurricane season.
Stanford University says the psychologist behind the controversial "Stanford Prison Experiment" has died.
After spending years behind bars for crimes they didn't commit, some men and women who have been wrongfully convicted have received their freedom. But as Erin Moriarty points out, for many, justice falls short.
A group of about 2,000 migrants left Mexico's southern border Sunday in hopes of ultimately reaching the United States.
On this "Face the Nation with Margaret Brennan" broadcast, Sen. Raphael Warnock and Paul Whelan join Margaret Brennan.
Michigan Secretary of State Jocelyn Benson warned Sunday of efforts by bad actors to "hack voters' minds" to spread misinformation ahead of Election Day.
Whelan, who was arrested in Russia in 2018, got little sleep and used secret cellphones to communicate with prisoners sent to the frontlines in Ukraine.
After spending years behind bars for crimes they didn't commit, some men and women who have been wrongfully convicted have received their freedom. But as Erin Moriarty points out, for many, justice falls short.
Love them or hate them, pigeons are an iconic animal of New York City. But there is much about these birds that remains a mystery to most, from their intelligence, to their ability to thrive in a concrete jungle, to their suitability as pets.
The International Association of Machinists and Aerospace Workers said early Saturday that it plans to hold a ratification vote on Wednesday that could end the Boeing strike.
Letter deliverers have been working without a contract since May 2023.
The frozen waffles, made by Treehouse Foods, were sold under store brands including Walmart's Great Value and Target's Good and Gather.
Navigating the insurance process after a natural disaster damages your home can be daunting. Here are some key tips.
Donald Trump said he'd appoint a CEO who is 78, his own age. But chief executives of top companies who are his age or older are rare.
On this "Face the Nation with Margaret Brennan" broadcast, Sen. Raphael Warnock and Paul Whelan join Margaret Brennan.
The documents, which are marked top secret, were posted to the Telegram messaging app.
Michigan Secretary of State Jocelyn Benson warned Sunday of efforts by bad actors to "hack voters' minds" to spread misinformation ahead of Election Day.
The following is a transcript of an interview with Rep. Mike Lawler, Republican of New York, on "Face the Nation with Margaret Brennan" that aired on Oct. 20, 2024.
The following is a transcript of an interview with Michigan Secretary of State Jocelyn Benson on "Face the Nation with Margaret Brennan" that aired on Oct. 20, 2024.
Brooklinn Khoury was 20 years old when a family member's pet launched at her face and bit off her upper lip.
"If he's exhausted being on the campaign trail, is he fit to do the job?" Harris asked as Trump refuses to release detailed medical records.
The worst rates of the infection known as "walking pneumonia" or "white lung pneumonia" are in young children ages 2 to 4 years old.
Rwanda says it's gaining control of a Marburg outbreak, but U.S. authorities are taking no chances as another killer virus spreads fast.
Among new mothers in the U.S., 1 in 8 suffer from postpartum depression, according to the CDC.
A group of about 2,000 migrants left Mexico's southern border Sunday in hopes of ultimately reaching the United States.
Colossal Biosciences says it's made a breakthrough toward the de-extinction of the thylacine, or Tasmanian tiger.
The documents, which are marked top secret, were posted to the Telegram messaging app.
Many Cubans are waiting in anguish as electricity on much of the island has yet to be totally restored after days of blackout.
Whelan, who was arrested in Russia in 2018, got little sleep and used secret cellphones to communicate with prisoners sent to the frontlines in Ukraine.
This year, musicians all over the world, from Carnegie Hall to the Hollywood Bowl, are celebrating the 100th birthday of George Gershwin's "Rhapsody in Blue." Correspondent David Pogue looks into the history of Gershwin's first major work, a piece that melded jazz, classical and orchestral music, and became a fixture of American culture.
Like father, like son: Damon Wayans is starring with Damon Wayans Jr. in the new comedy series "Poppa's House" – the latest family affair for a comedian who has built a career working with his talented and hilarious relatives.
Like father, like son: Damon Wayans is starring with Damon Wayans Jr. in the new comedy series "Poppa's House." It's the latest family affair for a comedian who has built a career working with his talented siblings Keenan, Shawn, Marlon and Kim, son Michael, and nephews Damien and Craig. Damon talks with correspondent Tracy Smith about his journey from working in the Paramount Studio mailroom, to creating edgy characters in movies and TV.
Keri Russell, who played a Russian spy in "The Americans," is now on the frontlines of geopolitics in "The Diplomat," playing the U.S. Ambassador to the United Kingdom. Join "Sunday Morning" on the set of the hit Netflix series.
The cold open skit marked Baldwin's return to the comedy sketch show after the "Rust" involuntary manslaughter case was dismissed in July 2024.
Gordon Lubold from The Wall Street Journal joins "CBS Mornings Plus" to discuss the rise in drone activity over restricted U.S. military airspaces.
Dr. Marcus Collins, author of "For the Culture," joins "CBS Mornings Plus" to discuss the influence of social media on voter decision-making. With 19 days left in the race, a CBS News poll reveals more than 20% of voters frequently use social platforms to stay informed.
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.
Just ahead of the holiday shopping rush, Apple is giving iPad minis their first update in years while Amazon is offering a new line of Kindle e-readers. CNET editor-at-large Scott Stein joined CBS News to discuss the devices.
Two Sudanese brothers are charged with running "Anonymous Sudan," one of the most prolific cyberattack-for-hire gangs of all time.
Colossal Biosciences says it's made a breakthrough toward the de-extinction of the thylacine, or Tasmanian tiger.
The National Oceanic and Atmospheric Administration published its winter outlook for this coming December, January and February. Experts anticipate warmer-than-average temperatures for much of the country. CBS News Sacramento meteorologist Tracy Humphrey joins to discuss.
Hurricanes Helene and Milton caused so much complex havoc that damages totals are likely join the infamous ranks of Katrina, Sandy and Harvey as super costly $50-billion-plus killers, experts say.
On Wednesday, the Supreme Court said it will allow the Environmental Protection Agency to enforce new greenhouse gas emissions limits for power plants. Michael Gerrard, a professor at Columbia Climate School, joins "The Daily Report" to discuss.
White blobs of "a mystery substance" dotting beaches across Canada's far northeast Newfoundland and Labrador province spark an investigation.
Investigators were puzzled when the beaten body of an unidentified woman was found dumped near a Florida highway. The next day, a bloody motel room was discovered. Were the crime scenes connected?
In 1982, Cathy Krauseneck, a young mother, was killed in her bed – an ax lodged in her head. Investigators believe the crime scene was staged to look like a burglary to cover up the real crime – the intentional murder of Cathy by her husband.
Richard Allen stands accused of killing the girls, Abby Williams and Libby German, in 2017.
As the presidential election nears, the issue of crime is weighing on the minds of voters. A CBS News poll taken earlier this year found 63% of voters said crime would be a factor in who they vote for, despite FBI data showing reported violent crime fell in 2023. In Chicago, a group of women is trying to continue to lower crime rates end the cycle of violence in the city.
Disturbing new details and heart-wrenching testimony were given during the first day of the Delphi murders trial. Prosecutors revealed how Abby Williams, 13, and Libby German, 14, were killed on a hiking trail more than seven years ago. Here's what to know about the case.
NASA's solar-powered Europa Clipper took off Monday from the Kennedy Space Center in Florida. The spacecraft is projected to reach Jupiter by April 2030 and will study one of the planet's moons. CBS News space consultant Bill Harwood explains what scientists are hoping to accomplish with the mission.
NASA successfully launched the Europa Clipper spacecraft Monday toward Jupiter where it will monitor a moon for potential habitable qualities. CBS News space consultant Bill Harwood has more on the spacecraft expected to near Jupiter's moon Europa around April 2030.
A multi-billion dollar space mission launching Monday may reveal more about an icy moon circling planet Jupiter. CBS News space consultant Bill Harwood has more.
SpaceX launched its most powerful rocket ever built and then flew its first stage booster back to the launch pad where giant metal arms called "chopsticks" grabbed it, just seven minutes after lifting off in Boca Chica, Texas. The uncrewed test flight is a new milestone in SpaceX's vision of developing a fully reusable rocket to return astronauts to the moon and beyond.
The ambitious mission won't actually look for life on Jupiter's moon Europa, but it should find out if the presumed ocean provides a habitable environment.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
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?
The actor, recipient of a lifetime achievement Academy Award, was renowned for such films as "MASH," "Klute," "Don't Look Now," "Ordinary People," and "The Hunger Games."
Paul Whelan, a Marine veteran who was imprisoned in a Russian labor camp for nearly six years until being released after a prisoner swap this summer, tells "Face the Nation with Margaret Brennan" in his first interview since being freed about the first moments he realized he was free.
Watch Margaret Brennan's full interview of Democratic Sen. Raphael Warnock of Georgia, a portion of which aired on Oct. 20, 2024.
Michigan Secretary of State Jocelyn Benson tells "Face the Nation with Margaret Brennan" that there are foreign bad actors who are not only trying to "sow the seeds of distrust, but to diminish citizens' confidence in the process and in their own voices."
As former President Donald Trump has accused his adversaries of being the "enemy from within," Republican Rep. Mike Lawler of New York, who represents a district heavily targeted by Democrats, tells "Face the Nation with Margaret Brennan" that "all of the rhetoric needs to stop."
Georgia Secretary of State Brad Raffensperger tells "Face the Nation with Margaret Brennan" that it will "absolutely not" take seven days for his state to tabulate votes despite recent comments that it would by former President Donald Trump.