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Treasury Secretary Janet Yellen says the U.S. could run out of cash to pay its bills as soon as next month. In a letter sent to lawmakers Monday, Yellen said, "we will be unable to continue to satisfy all of the government's obligations by early June, and potentially as early as June 1, if Congress does not raise or suspend the debt limit before that time." CBS News congressional correspondent Scott MacFarlane has more.
The treasury secretary moved up her estimate of when the U.S. risks defaulting on its debt.
The stock market closed higher Wednesday, following the second day of congressional hearings on the Silicon Valley Bank collapse. Dory Wiley, the president and CEO of Commerce Street Holdings, joined CBS News to discuss what the hearings mean for investors.
CBS News business analyst Jill Schlesinger and J.D. Durkin, host of "The Street," join Errol Barnett and Elaine Quijano to discuss this week's market movers on Wall Street.
The Federal Reserve will decide whether it needs to boost interest rates again at a meeting Wednesday. Inflation still remains high, but the nation's recent banking crisis is causing concern over how the Fed should respond. CBS News senior White House and political correspondent Ed O'Keefe has more, and then Ann Berry, the founder of Threadneedle Strategies, joins CBS News to discuss the next steps for the Fed.
Stocks closed higher Tuesday as Federal Reserve officials begin meeting to discuss inflation and potential interest rate hikes. Advisors Capital Management portfolio manager JoAnne Feeney joins CBS News to break down what upcoming changes could mean for investors.
Treasury Secretary Janet Yellen said the federal government is ready to give banks more support if needed. Wall Street Journal economic reporter Andrew Ackerman joins CBS News to discuss.
Inflation's still high, but analysts warn that further rate hikes from the Fed could lead more more banks to topple.
The Federal Reserve is expected to announce another round of interest rate hikes on Wednesday. Colby Smith, U.S. economics editor for the Financial Times, joins CBS News to discuss how the Fed's potential decision is tied to the banking crisis.
The Federal Reserve is expected to announce another round of interest rate hikes while simultaneously dealing with a major banking crisis. Ed O'Keefe joins "CBS News Mornings" to explain how the White House is trying to ease concerns.
The treasury secretary says the plan would be set in motion if additional collapses trigger a run on banks.
Janet Yellen testifies before Senate Finance Committee; Pence faces New Hampshire voters after criticizing Trump about Jan. 6.
All three major stock indexes ended Thursday in positive territory. Treasury Secretary Janet Yellen testified before the Senate Banking Committee, and the nation's biggest banks committed $30 billion to shore up First Republic Bank. CBS News congressional correspondent Scott MacFarlane joins John Dickerson to discuss.
Eleven large banks have agreed to provide $30 billion to California-based First Republic Bank, which has been struggling following last week's collapse of Silicon Valley Bank. This comes as Treasury Secretary Janet Yellen appeared before the Senate Finance Committee and tried to alleviate concerns regarding the viability of the U.S. banking system. Scott MacFarlane has the latest.
Treasury Secretary Janet Yellen told a Senate hearing that the nation's banking system "remains sound" in the wake of the country's second largest bank collapse. And major banks committed $30 billion to shore up First Republic Bank. CBS News congressional correspondent Scott MacFarlane and CBS News chief foreign affairs correspondent and "Face the Nation" moderator Margaret Brennan join "Red and Blue" to discuss the latest on the banking situation.
A group of 11 major banks were working on a $30 billion rescue plan for First Republic Bank on Thursday. Also, Treasury Secretary Janet Yellen told senators the banking system "remains sound" in the wake of the recent failures of Silicon Valley Bank and Signature Bank. Robert Schein, chief investment officer for Blanke Schein Wealth Management, joined Elaine Quijano and Lana Zak to discuss.
U.S. Treasury Secretary Janet Yellen says the nation's banking system remains safe despite two regional banks collapsing in the past week. Her comments come as First Republic Bank shares plummeted to start the day. Bill Eisen, a banking reporter for the Wall Street Journal, joins CBS News to discuss what it for the U.S. banking system.
"Americans can feel confident that their deposits will be there when they need them," the treasury secretary is expected to tell Congress Thursday.
Some regional banks halted trading Monday after the collapse of Silicon Valley Bank and Signature Bank. The federal government said depositors will not lose their money. CBS News national correspondent Errol Barnett reports on the fallout from Santa Clara, California.
Watch the full version of an interview with Treasury Secretary Janet Yellen that aired on March 12, 2023 on "Face the Nation with Margaret Brennan."
All depositors will be made whole, the Federal Reserve, Treasury Department and FDIC said Sunday in a joint statement.
Treasury Secretary Janet Yellen called the Silicon Valley Bank failure a "concern," but she emphasized that there would not be a bailout. "We're not going to do that again," she told "Face the Nation."
This week on "Face the Nation with Margaret Brennan," an exclusive interview with Treasury Secretary Janet Yellen, plus Democratic Rep. Ro Khanna and House Foreign Affairs committee chair Republican Rep. Michael McCaul.
This week on "Face the Nation with Margaret Brennan," an exclusive interview with Treasury Secretary Janet Yellen, plus Democratic Rep. Ro Khanna and House Foreign Affairs committee chair Republican Rep. Michael McCaul.
The collapse of Silicon Valley Bank is the largest of a financial institution since the failure of Washington Mutual in 2008.
The stopgap measure will fund the government and provide tens of billions in disaster relief.
Police say the driver is under arrest after plowing into the crowd at a Christmas market in Magdeburg, Germany, killing at least five people - including a 9-year-old - and injuring 200 others.
The House Ethics Committee voted to release its report on the investigation into former Rep. Matt Gaetz on Dec. 5, according to multiple sources.
Rickey Henderson is widely considered to be one of the best leadoff hitters and base stealers in baseball.
Mark Burnett helped produce hits like "Survivor" and "The Voice," but is perhaps best known for teaming up with President-elect Donald Trump for "The Apprentice," which first aired in 2004.
An F/A-18 fighter jet was "mistakenly fired on" by the guided missile cruiser USS Gettysburg, authorities said.
Kari Lake, a former broadcast journalist who unsuccessfully ran for governor and for a U.S. Senate seat in Arizona, is President-elect Donald Trump's selection to lead Voice of America.
The suspect drove through the doors of a JC Penny in Killeen, Texas, and continued inside for "several hundred yards," an official said.
Party City informed employees in an email on Friday that it was conducting an immediate "mass layoff" at its headquarters.
Kari Lake, a former broadcast journalist who unsuccessfully ran for governor and for a U.S. Senate seat in Arizona, is President-elect Donald Trump's selection to lead Voice of America.
A look back at how "48 Hours" covered the 1996 Christmastime murder of JonBenét Ramsey in 2002, and what her father John Ramsey says about the unsolved Colorado case nearly 28 years later.
Lara Trump, the daughter-in-law of President-elect Donald Trump, says she's removing herself from consideration for Marco Rubio's Senate seat.
After California man's death sentence is overturned, there's a renewed push to clear him.
The suspect drove through the doors of a JCPenny in Killeen, Texas, and continued inside for "several hundred yards," an official said.
Party City informed employees in an email on Friday that it was conducting an immediate "mass layoff" at its headquarters.
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.
Kari Lake, a former broadcast journalist who unsuccessfully ran for governor and for a U.S. Senate seat in Arizona, is President-elect Donald Trump's selection to lead Voice of America.
Lara Trump, the daughter-in-law of President-elect Donald Trump, says she's removing herself from consideration for Marco Rubio's Senate seat.
An F/A-18 fighter jet was "mistakenly fired on" by the guided missile cruiser USS Gettysburg, authorities said.
Mark Burnett helped produce hits like "Survivor" and "The Voice," but is perhaps best known for teaming up with President-elect Donald Trump for "The Apprentice," which first aired in 2004.
The Senate confirmed two more judges to the federal bench on Friday, giving President Biden a total of 235 since he took office.
Thirteen states reported "high" or "very high" levels of flu-like illness last week, according to the U.S. Centers for Disease Control and Prevention. That's double the number of states from the week before. Ali Bauman reports.
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.
An F/A-18 fighter jet was "mistakenly fired on" by the guided missile cruiser USS Gettysburg, authorities said.
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.
Hollywood star Blake Lively is accusing her "It Ends With Us" co-star Justin Baldoni of sexual harassment in a new lawsuit. His attorney has denied the allegations.
The lawsuit lays out Blake Lively's allegations against Justin Baldoni during their time working on "It Ends with Us."
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 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.
A look back at how "48 Hours" covered the 1996 Christmastime murder of JonBenét Ramsey in 2002, and what her father John Ramsey says about the unsolved Colorado case nearly 28 years later.
After California man's death sentence is overturned, there's a renewed push to clear him.
The suspect drove through the doors of a JCPenny in Killeen, Texas, and continued inside for "several hundred yards," an official said.
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.
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.
Actor Ted Danson sits down with Tracy Smith to discuss his latest project, “A Man on the Inside.” Then, David Pogue learns how some companies are creating ways to prevent whales from getting hit by cargo and cruise ships. “Here Comes the Sun” is a closer look at some of the people, places and things we bring you every week on “CBS Sunday Morning.”
Is there new hope to solve the murder of JonBenét Ramsey? Her father says there’s a way. "48 Hours" correspondent Erin Moriarty reports.
Here's a look at the top stories making headlines on the "CBS Weekend News" with David Wade.
The Chicago group Holiday Heroes seeks to bring joy and light to brave children at 18 different hospitals. Noel Brennan has more.
Many kids will be getting tablets or video games this holiday season. But this Boston boy has put down the gadgets and lifted up his entire neighborhood. David Wade reports.