Optimistic signs about the economy
There were some positive signs last week that the economy might be holding firm. Mark Strassmann has the details.
Recession
What recession? Latest GDP data shows economy is holding firm
U.S. economic growth accelerated last quarter, boosting hopes that a long-predicted recession can be avoided.
U.S. economy grows in second quarter
New data from the Bureau of Economic Analysis shows the GDP grew at a rate of 2.4% between April and June of 2023, nearly half a point more than the 2% rate seen in the first quarter. Hardika Singh, markets reporter for the Wall Street Journal, joined CBS News to talk about the newly released numbers.
Fed expected to raise interest rate Wednesday
The Federal Reserve is expected to raise interest rates again Wednesday after pausing more than a year of rate hikes in June. Experts believe the central bank will increase rates by one-quarter of a percentage point as part of its ongoing fight against high inflation. Joe Rennison, markets reporter for The New York Times, joined CBS News to discuss.
Survey: Investors still bracing for recession
A new Goldman Sachs survey shows Wall Street investors are still bracing for a recession despite inflation easing and a healthy job market. Greg Robb, an economics editor for MarketWatch, joined CBS News to discuss.
Inflation cooled in June: What that means
Inflation cooled in June to 3%, the lowest in more than two years, according to the U.S. Labor Department's Consumer Price Index. CBS News business analyst Jill Schlesinger joins "CBS Mornings" to discuss what this means for consumers and whether the Federal Reserve will continue to raise rates.
June jobs report shows cooling labor market
The U.S. added 209,000 jobs in June, the Labor Department reported on Friday. The unemployment rate dropped slightly to 3.6% from 3.7% in the prior month. CBS News reporter Sarah Ewall-Wice has more.
America's top banks excel in stress test
Several of the nation's top banks excelled in their yearly stress test, according to the Federal Reserve. The Fed tested how 23 banks — each with more than $100 billion in assets — would fare in an economic downturn. Lori Bettinger, president of a network of community banks known as BancAlliance, joins CBS News to break down the test results.
Biden says there won't be a recession
President Biden touted his administration's economic policies during a speech in Chicago on Wednesday. The pitch comes as the president ramps up his reelection campaign, but recent CBS News polling found a majority of Americans think the condition of the economy is bad. Ed O'Keefe and Robert Costa join "America Decides" to break down the remarks.
Recession fears subside
For the last year, experts have been making predictions of a recession but it hasn't arrived. Edward Yardeni, president and chief investment strategist at Yardeni Research, joins CBS News to break down what is and isn't happening with the economy.
Economists reverse course on recession fears
After a year of recession fears, some economists are now saying those financial concerns are cooling as the U.S. job market continues to show resilience. Rick Newman, a senior columnist at Yahoo Finance, joins CBS News to discuss what could be ahead for the economy.
Remember that looming recession? Not happening, some economists say
"People have been using the wrong R-word to describe the economy," one economist said. "It's resilience — not recession."
Electricity bills expected to go up
While prices of many goods and services may be cheaper this summer when compared to last year, don't expect to see any dips in your power bills. Analysts say average electricity prices are expected to be at least 2% higher. Associate managing editor for CBS MoneyWatch Irina Ivanova has more.
Americans visit London; Germany in recession
CBS News' Ramy Inocencio has today's MoneyWatch International, keeping an eye on where Americans are traveling internationally, and why the fourth biggest economy in the world, Germany, is falling on tough times.
How U.S. default could impact Americans
With a default deadline looming, CBS News business analyst Jill Schlesinger joins "CBS Mornings" to discuss what's exactly at stake and how it could impact Americans.
Debt ceiling talks appear to have stalled
Negotiations on the debt ceiling stalled Tuesday as the White House and House Republicans remain divided over spending cuts. Discussions ended late Tuesday and economists warn that the stock market could crash and the economy may experience a severe recession if no agreement is reached and the United States defaults on its debt. Congressional correspondent Scott MacFarlane reports from Washington.
How a U.S. debt default could impact your money
"It's hard to overstate how bad it would be," one expert said. Everything from Social Security payments to your retirement fund could get hit.
5/7: The Takeout: Jill Schlesinger
CBS News business analyst Jill Schlesinger joins Major Garrett on "The Takeout" to break down the state of U.S. banks and artificial intelligence's role in the economy. She simplifies the Federal Reserve's recent string of interest rate increases and its level of effectiveness. Given inflation and several recent bank failures, Schlesinger also weighs in on whether our current economic woes signal that a recession is near.
Interest rates highest since 2007
The Federal Reserve pushed interest rates to the highest point since 2007 to combat inflation. Critics warn the hikes could lead to a recession. Nancy Cordes reports.
Hiring for white-collar jobs in the U.S. is hitting a wall
Fearing an imminent recession, corporate employers are pulling back on hiring in a range of professional fields.
U.S. economic growth slows, GDP report shows
The nation's gross domestic product grew at an annual rate of 1.1% in the first quarter of 2023, lower than what economists expected. But, the latest jobs report shows unemployment claims fell by 16,000. Ben Eisen, a reporter for the Wall Street Journal, joined CBS news to parse through the latest numbers.
First quarter GDP growth lower than expected
New data shows that the U.S. GDP grew by 1.1% from the final quarter of 2022 to the first quarter of 2023. CBS News Contributor and Managing Editor for Business and Markets at AXIOS Javier David explains what this growth means for the potential of a recession.
New economic data gives insight on inflation
New Producer Price Index data suggests inflation could be easing. CBS News' Errol Barnett and Lana Zak are joined by Ahmed Riesgo, the CIO for Insigneo Financial Group.
Bond trading showing signs of economic trouble
Recent volatility in the bond market could be a bad sign for the economy. Earlier this month, yields saw their biggest plunge since 1982. New York Times markets reporter Joe Rennison joined Vladimir Duthiers and Anne-Marie Green to discuss.
Banking instability sparks U.S. recession fears
The Dow Jones fell sharply Wednesday after shares in Swiss bank Credit Suisse hit a record low. Host of "The Street" J.D. Durkin spoke with CBS News about recent trends in the marketplace and how they could impact federal economic action.
Two women told House ethics panel Gaetz sent Venmo payments "for sex," their attorney says
Two women testified before the House Ethics Committee that Matt Gaetz paid them "for sex," their lawyer told CBS News' Major Garrett.
Judge strikes down Wyoming abortion laws
A judge has struck down Wyoming's overall ban on abortion and its first-in-the nation explicit prohibition on the use of medication to end pregnancy.
"Everything as it was": Explore the bedrooms of kids killed in school shootings
The families of eight school shooting victims opened their doors to Steve Hartman and photographer Lou Bopp, allowing them to document their children's bedrooms.
Why some Ohio school districts are arming teachers and staff with firearms
Over the last year, the number of school districts in Ohio that allow staff to be armed quadrupled, with 14% of the state's districts now participating.
"One Tree Hill" actor Paul Teal dies at 35 after cancer battle
Paul Teal's fiancée and fellow "One Tree Hill" actors shared tribute posts memorializing him.
What does and doesn't kill E. coli? What to know amid multiple outbreaks
E. coli outbreaks in food are making headlines, prompting questions about how to stay safe from the bacteria that can cause sickness.
California governor defers Menendez clemency decision to incoming L.A. DA
California Gov. Gavin Newsom decided to defer the Menendez brothers' clemency decision to incoming District Attorney Nathan Hochman.
Cyberattack leaves Massachusetts Stop & Shop shelves empty 10 days before Thanksgiving
Stop & Shop stores across Massachusetts had empty shelves on Monday due to a cyberattack.
Arthur Frommer, famed travel guide innovator, has died at 95
Arthur Frommer, whose "Europe on 5 Dollars a Day" guidebooks revolutionized leisure travel by persuading average Americans to take budget vacations abroad, has died. He was 95.
U.S.
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Proposal would allow Bible teachings in Texas public grade schools
Texas public elementary schools could use teachings from the Bible in lessons under a proposal drawing intense opposition and praise.
Judge strikes down Wyoming abortion laws
A judge has struck down Wyoming's overall ban on abortion and its first-in-the nation explicit prohibition on the use of medication to end pregnancy.
Newsom to allow District Attorney-elect Nathan Hochman to lead Menendez
California Gov. Gavin Newsom decided to defer the Menendez brothers' clemency decision to incoming District Attorney Nathan Hochman.
Why some Ohio school districts are arming teachers and staff with firearms
Over the last year, the number of school districts in Ohio that allow staff to be armed quadrupled, with 14% of the state's districts now participating.
"One Tree Hill" actor Paul Teal dies at 35 after cancer battle
Paul Teal's fiancée and fellow "One Tree Hill" actors shared tribute posts memorializing him.
MoneyWatch
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Arthur Frommer, famed travel guide innovator, has died at 95
Arthur Frommer, whose "Europe on 5 Dollars a Day" guidebooks revolutionized leisure travel by persuading average Americans to take budget vacations abroad, has died. He was 95.
TNT's "Inside the NBA" will air on ESPN, ABC, as part of NBA settlement
"Inside the NBA" will continue on other networks, even though will no longer be airing on TNT at the end of this season.
Cyberattack leaves Stop & Shop shelves empty days before Thanksgiving
Stop & Shop stores across Massachusetts have empty shelves due to a cyberattack.
What does Spirit Airlines' bankruptcy mean for you?
Spirit's bankruptcy filing will likely mean higher airfares across airlines as it trims schedule, according to experts.
Dental company stocks jump amid RFK Jr.'s health claims about fluoride
Robert F. Kennedy's Jr. push to remove fluoride from the nation's public water supply could benefit some companies. Here's why.
Politics
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Proposal would allow Bible teachings in Texas public grade schools
Texas public elementary schools could use teachings from the Bible in lessons under a proposal drawing intense opposition and praise.
Trump picks Sean Duffy, TV host and former lawmaker, for transportation
President-elect Donald Trump says former Wisconsin Rep. Sean Duffy is his choice for transportation secretary as he continues to roll out picks for his Cabinet.
Dental company stocks jump amid RFK Jr.'s health claims about fluoride
Robert F. Kennedy's Jr. push to remove fluoride from the nation's public water supply could benefit some companies. Here's why.
House Ethics Committee to meet Wednesday amid growing pressure to release Gaetz report
President-elect Donald Trump announced he selected former Florida Rep. Matt Gaetz to serve as attorney general.
Two women told House ethics panel Gaetz sent Venmo payments "for sex," attorney says
Two women testified before the House Ethics Committee that Matt Gaetz paid them "for sex," their lawyer told CBS News' Major Garrett.
HealthWatch
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Dental company stocks jump amid RFK Jr.'s health claims about fluoride
Robert F. Kennedy's Jr. push to remove fluoride from the nation's public water supply could benefit some companies. Here's why.
How RFK Jr. could impact vaccines as Trump's HHS secretary
Kennedy insists he is not "anti-vaccine," but he has a long record of false and misleading statements about their safety and benefits. What could he do as Trump's HHS secretary?
Bed maker waited to report defect that killed 1 and injured others
Canada's Bestar recalled wall beds only after learning of dozens of cases in which its beds detached from the walls, feds say.
What does and doesn't kill E. coli? What to know amid multiple outbreaks
E. coli outbreaks in food are making headlines, prompting questions about how to stay safe from the bacteria that can cause sickness.
Combating Parkinson's with rock climbing
There is currently no cure for Parkinson's Disease. But some with Parkinson's are finding that an unusual therapy – rock climbing – is helping them improve their balance, mobility, strength and cognition.
World
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Famed ballet dancer dies in fall from balcony in Russia
Ballet dancer Vladimir Shklyarov fell from a fifth-floor balcony after taking painkillers ahead of back surgery, Russian media reported.
India's "severe plus" air pollution forces more dramatic safety measures
Air pollution chokes New Delhi every winter, but this year's smog has already derailed everything from transport and road work to schools.
Family of U.S. activist killed in West Bank still demanding answers
The sister of Aysenur Ezgi Eygi, an American activist killed in the Israeli-occupied West Bank, says her idealistic vision of the U.S. has been shattered.
Russia warns of world war after Biden's decision on missiles for Ukraine
A Russian lawmaker calls President Biden's decision to let Ukraine fire U.S. missiles deep into Russia a "very big step toward the beginning" of a third world war.
Hologram used in bid to solve sex worker's cold case murder
Bernadett "Betty" Szabo, 19, was stabbed multiple times just months after giving birth to a baby boy.
Entertainment
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"One Tree Hill" actor Paul Teal dies at 35 after cancer battle
Paul Teal's fiancée and fellow "One Tree Hill" actors shared tribute posts memorializing him.
TNT's "Inside the NBA" will air on ESPN, ABC, as part of NBA settlement
"Inside the NBA" will continue on other networks, even though will no longer be airing on TNT at the end of this season.
The stars of "Gladiator II" discuss the film's legacy
The stars of Ridley Scott's "Gladiator II" discuss the film's legacy and stepping back into the world of ancient Rome.
Netflix says 60 million households watched Tyson-Paul match
The much-hyped fight pitting the 58-year-old Tyson against Paul, 27, shattered records but was marred by tech glitches.
"Gladiator II" cast on new film
Ridley Scott's latest masterpiece revisits the world of ancient Rome with new characters and intense drama. The cast of "Gladiator II" talks to Nate Burleson on working with Scott and carrying forward the spirit of the iconic original.
Technology
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Technology
How this new car runs without gas or electricity
As climate change intensifies, the race for a more eco-friendly car has revved up. Itay Hod reports on the newest twist on travel.
"Human … Please die": Chatbot responds with threatening message
In an online conversation about aging adults, Google's Gemini AI chatbot responded with a threatening message, telling the user to "please die."
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.
Meta facing courtroom battle
On Wednesday, a judge allowed a Federal Trade Commission lawsuit to move forward that accuses Meta of creating an illegal monopoly with Facebook, Instagram and WhatsApp. CBS News MoneyWatch correspondent Kelly O'Grady explains.
The Guardian to stop posting on X, calling it "a toxic media platform"
The Guardian says benefits of being on Elon Musk's social media platform X are outweighed by its "often disturbing content."
Science
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Science
Long-term effects of Trump plans for oil, gas
President-elect Donald Trump has pledged to "drill, baby, drill" on Day 1 in office. CBS News national environmental correspondent David Schechter joins to take a closer look at the environmental impact of some of Trump's potential energy and climate policies.
How climate change impacts the economy
2024 is on pace to be the hottest year on record worldwide. CBS News Los Angeles meteorologist and climatologist Marina Jurica reports that extreme weather events cost the global economy over $2 trillion in the last 10 years.
Scientists say biggest coral in the world discovered in the Pacific
Scientists say they've discovered a "mega coral" three times bigger than the previous record holder - so huge they initially thought it was a shipwreck.
Surfboards with lights could deter shark attacks: "Invisibility cloak"
Seal-shaped boards decked with bright horizontal lights were less likely to be attacked by great white sharks, researchers found.
Trump officials likely to reverse drilling waste "methane fee" EPA is imposing
Oil and natural gas companies will have to pay a federal fee if they emit methane above certain levels under a rule being finalized by the Biden administration that incoming Trump officials are likely to reverse.
Crime
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Newsom to allow District Attorney-elect Nathan Hochman to lead Menendez
California Gov. Gavin Newsom decided to defer the Menendez brothers' clemency decision to incoming District Attorney Nathan Hochman.
New evidence in Laken Riley murder trial
CBS News has learned the case against the man accused of killing a University of Georgia nursing student could be in the hands of the judge as early as Tuesday. Jose Ibarra, an undocumented immigrant from Venezuela, has pleaded not guilty to killing 22-year-old Laken Riley while she was jogging on campus in February. CBS News national correspondent Manuel Bojorquez has the latest from Athens, Georgia.
Shootings near New Orleans parade route
Officials say 13 people were shot during two incidents along a New Orleans "second line" parade route. CBS News' Kati Weis breaks down what's known.
More on Laken Riley murder trial defense
Jose Ibarra's trial for the murder of Laken Riley, a student at Georgia's Augusta University College of Nursing, continues as Ibarra's family members are expected to testify on his behalf. CBS News contributor Caroline Polisi breaks down the latest in the case.
New Orleans parade shootings: What we know
Two people were killed in two separate shootings along a New Orleans parade route Sunday night. No arrests have been made so far. CBS News national reporter Kati Weis has more.
Space
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Far side of the moon once had erupting volcanoes, lunar soil shows
Researchers analyzed lunar soil brought back by China's Chang'e-6, the first spacecraft to return with a haul of rocks and dirt from the little-explored far side.
When you can see the Beaver Moon, 2024's final supermoon
November's full moon, known as the Beaver Moon, is the last supermoon of 2024. Here's when it peaks and why it's called the Beaver Moon.
Astronauts decline to answer questions about post-flight medical issue
Medical issues aside, the astronauts described a water leak in June that triggered a blizzard in the International Space Station's airlock.
Cargo ship brings science gear, holiday treats to space station crew
With an Election Day docking, the cargo ship delivered 3 tons of supplies and equipment, including an unusual wooden satellite.
The Taurid meteor showers will peak a week apart in November
Two sister meteor showers are already flashing across night skies — and will peak a week apart.
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
Long-term effects of Trump plans for oil, gas
President-elect Donald Trump has pledged to "drill, baby, drill" on Day 1 in office. CBS News national environmental correspondent David Schechter joins to take a closer look at the environmental impact of some of Trump's potential energy and climate policies.
Israel, Hezbollah inch toward cease-fire deal
There are signs of progress on at least one front of the conflict in the Middle East. CBS News senior foreign correspondent Elizabeth Palmer has the latest on reports of a cease-fire deal between Israel and Iran-backed Hezbollah in Lebanon.
Assessing potential impact of Trump's tariffs
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.
Ethics panel to meet amid Gaetz report push
At least two of President-elect Donald Trump's Cabinet picks are involved in controversy. Now there are questions about whether Matt Gaetz and Pete Hegseth have the support to get confirmed for their intended roles. CBS News congressional correspondent Nikole Killion has new reporting.
What Spirit Airlines bankruptcy means for you
Spirit Airlines is filing for bankruptcy ahead of the busy holiday travel season. The budget airline has faced multiple setbacks recently, including rising labor costs and a failed merger with JetBlue. CBS News senior transportation correspondent Kris Van Cleave has more on what this means for travelers.