CPI rose at 3.4% pace in August, raising odds of Fed rate hike this month
The report comes at a pivotal moment for the Federal Reserve, which is scheduled to meet next week to decide whether to hike interest rates.
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The report comes at a pivotal moment for the Federal Reserve, which is scheduled to meet next week to decide whether to hike interest rates.
Economic activity weakened between April and June as energy costs surged, new government data shows.
CBS News has learned the U.S. military is sending medical personnel to a hospital in Germany, as injured service members are being flown out of the Middle East.
The national average for a gallon of gas reached $4.003 on Monday, the first time in over a month it has crossed that threshold, AAA data shows.
Six days into renewed back and forth strikes, Iranian military officials are threatening to carry out strikes against all infrastructure throughout the region if the U.S. goes through with President Trump's threat to hit Iran's infrastructure.
Tensions continue to escalate after five days of strikes and the American Navy blockade in the Strait of Hormuz.
The president is reiterating his stance that the ceasefire with Iran is over, but that the U.S. would continue negotiating. It comes as tensions between the two countries remain high.
The U.S. launched new airstrikes against Iran on Thursday, and Tehran responded by targeting U.S. allies in Bahrain, Kuwait and Qatar.
The U.S. began a second night of strikes Wednesday and Iran responded in kind after President Trump declared earlier in the day that the ceasefire was "over."
The United States granted Iran a two-month sanctions reprieve, which allows Iran to sell its oil directly. As the U.S. considers unfreezing Iranian assets, President Trump said those funds will be used only on American products.
The U.S. and Iran exchanged fire for second time this week.
President Trump said earlier this week he was reviewing the possible reduction of troops in Germany, which hosts more than 35,000 U.S. service members.
Pete Hegseth returned to Capitol Hill on Thursday to answer questions from the Senate Armed Services Committee.
Iran balked at President Trump's demands for a peace deal amid a standoff over the Strait of Hormuz, as fear the war could reignite hits oil and energy markets.
Vice President JD Vance told reporters that "we have not reached an agreement" following face-to-face talks with Iranian and Pakistani negotiators.
There are concerns that the fragile ceasefire with Iran may not hold. CBS News Natalie Brand reports.
The U.S.-Iran ceasefire is facing early struggles due to Israeli strikes.
The United States and Iran have agreed to stop bombings in exchange for reopening the Straight of Hormuz.
President Trump said he has agreed to a "double sided CEASEFIRE" with Iran, less than two hours before his deadline for Iran to either cut a deal with the U.S. or face massive strikes on its power plants.
President Trump posted on social media that "a whole civilization will die tonight," adding "but I don't want that to happen, but it probably will."
President Trump threatened to have the U.S. attack Iran's bridges and power plants if they do not open the Strait of Hormuz.
In an interview with CBS News' Ed O'Keefe, Moore said President Trump has yet to articulate what the U.S. is doing in Iran.
Gas prices reached $4 a gallon as the fighting continues in Iran.
President Trump said he wants a peace deal with Iran soon as U.S. troops are arriving in the Gulf.
Iran received a ceasefire plan from the U.S. as the Pentagon prepares to deploy more troops to the Middle East.
