Closer look at inflation and interest rate
CBS News business analyst Jill Schlesinger breaks down the decision by the Federal Reserve to pause raising interest rates this month, and how the U.S. is doing with inflation.
Interest Rates
Here's what the Fed's interest rate pause means for your money
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
Fed hits pause on interest rates hikes
After 10 straight interest rate hikes done in an effort to combat inflation, the Federal Reserve on Wednesday chose to pause those rate hikes. However, Federal Reserve Chair Jerome Powell did signal that more rate hikes could be coming later this year. Weijia Jiang has more.
Federal Reserve pauses interest rate hikes
The Federal Reserve has decided to leave interest rates unchanged after a Consumer Price Index report this week showed inflation is cooling. CBS News business analyst Jill Schlesinger and Javier David, managing editor for business and markets at Axios, have more.
White House sees "progress" on inflation
Addressing the latest Consumer Price Index, President Biden said in a statement Tuesday that there was "continued progress tackling inflation," but "more work to do." The Biden administration also announced Wednesday that Secretary of State Antony Blinken will head to China this week. CBS News chief White House correspondent Nancy Cordes has more.
Fed expected to pause interest rate hikes
Inflation was lower in May, falling for the 11th straight month. And that could mean no more Federal Reserve interest rate hikes, at least for now. CBS News chief White House correspondent Nancy Cordes has more.
Inflation cools again in May
Inflation has continued to ease, according to new Consumer Price Index data released by the U.S. Bureau of Labor Statistics on Tuesday morning. Scott Wren, a senior global market strategist for Wells Fargo Investment Institute, joins CBS News with more.
Fed considers pausing interest rate hikes
Officials at the Federal Reserve are considering pausing interest rate hikes at their next meeting, which starts June 13. But Friday's strong jobs report may complicate the Fed's path forward after 10 consecutive increases. Jeanna Smialek, a Federal Reserve and economy reporter for the New York Times, has more.
Mild recession possible as job numbers stay hot
The U.S. averted disaster by raising the debt ceiling, but a mild recession is still possible even as job numbers remain hot, according to the head of Bank of America. Mark Strassmann breaks down how the U.S. economy is doing.
Coastal home buyers face low inventory
Home buyers in many U.S. coastal areas are facing a competitive real estate market, in part thanks to a spiking interest rate. Buyers are being advised to prepare to settle, bring cash offers and close quickly. Carter Evans and Mark Strassman report.
Bipartisan deal reached to raise the debt limit
After President Biden brokered a deal with Speaker McCarthy to raise the debt ceiling by $4 trillion, they spent the weekend trying to secure enough votes to pass the bill by the June 5 deadline. Scott MacFarlane reports.
Biden optimistic Democrats will back debt plan
President Biden and House Speaker McCarthy both expressed optimism that they would be able to get their respective parties on board for the debt ceiling plan they negotiated. Natalie Brand has the latest.
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Washington leaders work to prevent debt default
The White House and Republican congressional leaders are continuing to negotiate in an effort to prevent an unprecedented debt default, which could happen as soon as next week. House Democrats have signed a petition to raise the debt ceiling.
McCarthy, Biden still far apart in debt talks
House Speaker McCarthy said Tuesday that he and President Biden are "nowhere close" to a deal on raising the debt limit. Negotiators continue to meet as the default deadline approaches. Nikole Killion has more.
Biden, McCarthy to meet Monday for talks
President Biden and House Speaker McCarthy will meet in person on Monday to continue debt ceiling talks as the deadline for a government default approaches. Willie James Inman has the latest.
Retail earnings show mixed results
Stocks closed in the green Wednesday, as investors react to the debt ceiling negotiations and new earnings data. Wall Street Journal markets reporter Hannah Miao joined CBS to explain what the information means for investors and consumers.
Consumer Price Index up 0.4% in April
The Consumer Price Index shows inflation rose 0.4% between March and April. Prices rose 4.9% year-over-year. Axios managing editor for business and markets and CBS News contributor Javier David discusses what this means for the economy with Anne-Marie Green and Vlad Duthiers.
Investors monitoring debt ceiling, inflation data
Stocks closed flat Tuesday as investors await an agreement on the federal debt ceiling and new economic data on inflation. AlphasFuture founder and investment manager Geetu Sharma joined CBS News to discuss what the new information will mean for investors.
Markets, money and Americans' mental health
Stocks closed flat Monday as investors await new data on consumer and producer prices. Bankrate senior industry analyst Ted Rossman joins CBS News to discuss the markets as well as a new survey on personal finances and mental health.
Markets react to jobs report, interest rates
Javier David, a CBS News contributor and managing editor for business and markets for Axios, and Jeanna Smialek, an economics reporter for The New York Times, join us to discuss the latest financial news, including the April jobs report released today, the Federal Reserve's decision to raise interest rates again this week, and the health of the nation's banking system.
How interest rate hikes affect debt, loans
The Federal Reserve increased its key interest rate by a quarter of a point Wednesday, the 10th straight hike since last March. Anita Hamilton, assistant managing editor at Barron's, joined CBS News' Vladimir Duthiers and Anne-Marie Green to discuss the effects of the hikes.
Interest rates could alter Biden's reelection
The Fed has raised interest rates again. Nancy Cordes joins "CBS News Mornings" to explain the impact this could have at the White House.
Fed indicates pause after latest rate hike
Stocks fell Wednesday after the Federal Reserve raised U.S. interest rates by a quarter of a percentage point. Wall Street Journal economics reporter Harriet Torry spoke with CBS News about how the increase impacts investors and consumers.
Live
Iran says it's ready to "teach a lesson" if U.S. launches new attacks
Iran warns any new U.S. attacks will bring a "bad result," as President Trump acknowledges the ceasefire is faltering and violence flares in Lebanon.
Trump heads to China today for high-stakes meeting with Xi
Trade, Taiwan and tensions with Iran are surefire topics for President Trump's meeting with Chinese leader Xi Jinping.
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Ukraine and U.S. move toward landmark drone defense deal
A deal is taking shape for the U.S. and Ukraine to jointly develop and build weapons that have been at the forefront of the wars in both Ukraine and Iran.
Marty Makary resigns as FDA commissioner after internal tensions
FDA Commissioner Marty Makary resigned his position, stepping aside amid a swirl of reports that his tenure was coming to an end.
Feds charge ship operator in Baltimore's Key Bridge collapse
The operator of the MV Dali, a container ship that lost power and slammed into Baltimore's Francis Scott Key Bridge in 2024, killing six people, is facing federal charges.
Brandon Clarke of the Memphis Grizzlies dies at age 29
Memphis Grizzlies forward Brandon Clarke has died at the age of 29, the team announced.
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Parents sue OpenAI over teen's death after he used ChatGPT to get drug info
A Texas couple is filing a lawsuit accusing the AI company of guiding their teenage son in using drugs, resulting in a fatal overdose.
The Nancy Guthrie investigation could hang on a strand of DNA
A strand of DNA. An eerie doorbell video. The investigation into Nancy Guthrie's disappearance reaches 100th day with no sign of a breakthrough.
Data reveals 42% drop in Canadian visits to U.S. last year
University of Toronto researchers say cellphone data shows a major drop not only in Canadian tourists visiting the U.S., "but also in business-related travel."
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Brandon Clarke of the Memphis Grizzlies dies at age 29
Memphis Grizzlies forward Brandon Clarke has died at the age of 29, the team announced.
Social Security's cost-of-living adjustment could reach nearly 4% in 2027
A larger COLA would boost monthly checks for retirees, but also strain Social Security's already depleted trust funds.
Senate confirms Kevin Warsh as Fed governor, clearing path to become chair
The Senate has confirmed Kevin Warsh to the Federal Reserve's Board of Governors, a crucial step in President Trump's push to make Warsh the central bank's leader, replacing Jerome Powell.
Data reveals 42% drop in Canadian visits to U.S. last year
University of Toronto researchers say cellphone data shows a major drop not only in Canadian tourists visiting the U.S., "but also in business-related travel."
Justice Department defends subpoenas of Wall Street Journal reporters
The Justice Department defended itself after the Wall Street Journal revealed it has received subpoenas in connection with a leak investigation.
MoneyWatch
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Social Security's cost-of-living adjustment could reach nearly 4% in 2027
A larger COLA would boost monthly checks for retirees, but also strain Social Security's already depleted trust funds.
Senate confirms Kevin Warsh as Fed governor, clearing path to become chair
The Senate has confirmed Kevin Warsh to the Federal Reserve's Board of Governors, a crucial step in President Trump's push to make Warsh the central bank's leader, replacing Jerome Powell.
Exclusive
Parents sue OpenAI over teen's death after he used ChatGPT to get drug info
A Texas couple is filing a lawsuit accusing the AI company of guiding their teenage son in using drugs, resulting in a fatal overdose.
CPI surged in April as inflation soars to highest level in almost 3 years
U.S. consumer prices rose in April, fueled by a spike in energy prices caused by the Iran war.
EBay rejects GameStop's $55.5 billion takeover bid
GameStop CEO Ryan Cohen had argued that his company's retail locations would help eBay build a "national network."
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Marty Makary resigns as FDA commissioner after internal tensions
FDA Commissioner Marty Makary resigned his position, stepping aside amid a swirl of reports that his tenure was coming to an end.
Senate confirms Kevin Warsh as Fed governor, clearing path to become chair
The Senate has confirmed Kevin Warsh to the Federal Reserve's Board of Governors, a crucial step in President Trump's push to make Warsh the central bank's leader, replacing Jerome Powell.
Justice Department defends subpoenas of Wall Street Journal reporters
The Justice Department defended itself after the Wall Street Journal revealed it has received subpoenas in connection with a leak investigation.
Feds charge ship operator in Baltimore's Key Bridge collapse
The operator of the Dali, a container ship that lost power and slammed into Baltimore's Francis Scott Key Bridge in 2024, killing six people, is facing federal charges.
Lawmakers press Hegseth on details on Iran war authorization, ceasefire
Defense Secretary Pete Hegseth said the $1.5 trillion the Pentagon is seeking is "admittedly a historic budget."
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How can movement boost your brain health?
A recent survey by the Alzheimer's Association found most adults think maintaining brain health is very important, but they don't know what steps to take. (Sponsored by the Alzheimer's Association.)
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How exercise can improve brain health
Daily physical activity is one of the important steps to building healthy habits to lower the risk of dementia. As part of a three-part series, "Brain Health: From Awareness to Action," Alzheimer's Association President and CEO Joanne Pike joins "CBS Mornings" with tips on incorporating exercise into your routine as part of their "(re)think your brain" initiative. Learn more about their "6-Step Challenge" at rethinkyourbrain.org (Sponsored by the Alzheimer's Association)
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Parents sue OpenAI over teen's death after he used ChatGPT to get drug info
A Texas couple is filing a lawsuit accusing the AI company of guiding their teenage son in using drugs, resulting in a fatal overdose.
WHO chief says "work not over" after evacuation of hantavirus-stricken ship
The head of the World Health Organization says "our work is not over" to contain hantavirus after evacuations from a cruise ship hit by a deadly outbreak of the illness.
Americans from hantavirus ship quarantining
The 18 Americans who were aboard a hantavirus-stricken cruise ship have returned to the U.S. and are now in quarantine. One remains in the biocontainment unit at the University of Nebraska Medical Center after testing positive. Ian Lee has more.
World
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Putin says Russia test launches "most powerful missile in the world"
Russia tested a new long-range missile capable of carrying nuclear warheads, months after the last treaty with the U.S. expired.
U.K. Prime Minister Keir Starmer rejects mounting calls to resign
Despite a fifth of British Prime Minister Keir Starmer's fellow Labour Party lawmakers calling on him to step down, he says he'll "get on with governing."
Data reveals 42% drop in Canadian visits to U.S. last year
University of Toronto researchers say cellphone data shows a major drop not only in Canadian tourists visiting the U.S., "but also in business-related travel."
Lawmakers press Hegseth on details on Iran war authorization, ceasefire
Defense Secretary Pete Hegseth said the $1.5 trillion the Pentagon is seeking is "admittedly a historic budget."
Live
Iran says it's ready to "teach a lesson" if U.S. launches new attacks
Iran warns any new U.S. attacks will bring a "bad result," as President Trump acknowledges the ceasefire is faltering and violence flares in Lebanon.
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Stars of "Dutton Ranch" on reprising roles
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Dua Lipa alleges Samsung uses copyrighted image of her to sell TVs
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Annette Bening talks "Dutton Ranch"
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Matt Damon and Ben Affleck sued over movie
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Canvas' parent company strikes deal with hackers to delete stolen data
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Arthur Brooks on internet trolls
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How AI powered robots are helping small farms
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EBay rejects GameStop's $55.5 billion takeover bid
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Online learning platform Canvas hacked
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Emperor penguins in focus as Antarctica talks start in Japan
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What's in the released UFO files?
The Pentagon released UFO documents on Friday, with President Trump telling the public to "have fun" deciding for itself what is going on. Carter Evans reports.
Trump: UFO files released for transparency
Defense Secretary Pete Hegseth said it's time for the American people see it for themselves, as the Pentagon started releasing previously classified documents related to UFOs and UAPs. CBS News Pentagon reporter Eleanor Watson has more.
"The Age of Disclosure" director on UFO files
The Pentagon on Friday released and declassified numerous files on UFOs, including eyewitness testimony, photos and reports. Government knowledge of non-human intelligent life was the subject of the documentary "The Age of Disclosure," released in February. Its director and producer, Dan Farah, joins CBS News to discuss.
Pentagon begins releasing UFO files: "It's time the American people see"
Defense Secretary Pete Hegseth said in a statement that the documents "have long fueled justified speculation — and it's time the American people see it for themselves."
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Charges after Baltimore's Key Bridge collapse
The Justice Department announced criminal charges against the ship operator in the Francis Scott Key Bridge collapse that killed six people in 2024. CBS News' Shanelle Kaul has more.
Mayor faces prison time over alleged spying
Eileen Wang, the former mayor of Arcadia, California, faces a 10-year prison sentence for pleading guilty to acting as a covert agent for China. CBS News Los Angeles' Tina Patel has more.
Search for Nancy Guthrie reaches 100 days
The search for Nancy Guthrie has spanned 100 days, and key evidence in the case is still under analysis. CBS News' Anna Schecter reports.
Man shoots at random in Massachusetts
A suspect is in custody after appearing to be shooting at random near three college campuses in Massachusetts. CBS News' Lilia Luciano reports.
Gunman opens fire on busy Cambridge street
Two people are in critical condition after a gunman in Cambridge, Massachusetts, began randomly firing at cars on a busy street, officials say. Lilia Luciano has the latest.
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UFO files reveal astronauts saw mysterious objects and lights in 1972
NASA's Apollo 17 crew reported seeing three mysterious dots and sparks that resembled fireworks, according to new files released by the Pentagon.
Pentagon begins releasing UFO files: "It's time the American people see"
Defense Secretary Pete Hegseth said in a statement that the documents "have long fueled justified speculation — and it's time the American people see it for themselves."
Mysterious world beyond Pluto may have atmosphere, study says
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Artemis crew surprises 5-year-old aspiring astronaut with special gift
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Artemis II crew reveals what snack they ate right after splashdown
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Hegseth spars with Murphy over Iran
Connecticut Democratic Sen. Chris Murphy asked Chairman of the Joint Chiefs of Staff Gen. Dan Caine and Defense Secretary Pete Hegseth about military options to open the Strait of Hormuz, and about reports of an apparent intelligence assessment on Iran's nuclear capacity that may contradict President Trump's past statements. The exchange occurred during a Senate panel hearing on the Pentagon's 2027 budget request.
Trump takes questions before going to Beijing
Moments before President Trump left for his trip to Beijing on Tuesday, he took questions from reporters on the Iran war, inflation, and more. Following Mr. Trump's comments, CBS News' Olivia Rinaldi, Kelly O'Grady and Sam Vinograd provided context.
Charges after Baltimore's Key Bridge collapse
The Justice Department announced criminal charges against the ship operator in the Francis Scott Key Bridge collapse that killed six people in 2024. CBS News' Shanelle Kaul has more.
Mayor faces prison time over alleged spying
Eileen Wang, the former mayor of Arcadia, California, faces a 10-year prison sentence for pleading guilty to acting as a covert agent for China. CBS News Los Angeles' Tina Patel has more.
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The Supreme Court cleared the way for Alabama to adopt a new congressional map for the 2026 midterm elections. CBS News contributor Kyle Kondik joins with more.