Will Fed raise interest rates again this week? Here's what to expect.
Central bank officials will announce on Wednesday if they are hiking the federal funds rate for a 10th consecutive time.
Banking Crisis & Response
Bank stocks tumble as First Republic deal fails to stem investor fears
Shares of Los Angeles lender PacWest Bancorp fell 28% as spooked investors bail from regional banks.
What happens to First Republic Bank's stock and deposits now?
JPMorgan Chase is buying the troubled lender after it became the second biggest bank failure in U.S. history.
First Republic Bank seized by regulators, then sold to JPMorgan Chase
The regional lender, whose collapse is the second-biggest bank failure in U.S. history, is the third bank to be seized by regulators since March.
First Republic teeters on collapse as FDIC circles troubled bank
The ailing regional lender is at risk of becoming the third U.S. bank to collapse since March.
Bill would require clawback of compensation from executives of failed banks
The legislation from a bipartisan group of senators would require regulators to claw back all or part of the compensation bank executives got in the five years leading up to a bank's failure.
Fed calls SVB's failure a "textbook case of bank mismanagement"
FDIC Chairman Martin Gruenberg estimated about $20 billion would be needed to cover the collapse of Silicon Valley Bank.
Transcript: Neel Kashkari on "Face the Nation," March 26, 2023
The following is a transcript of an interview with Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, that aired on "Face the Nation" on Sunday, March 26, 2023.
Americans voice confidence in their banks, but inflation woes continue
They say government helps wealthy more than middle class amid bank issues.
White House economy official on bank failures
Bharat Ramamurti, deputy director for the National Economic Council, joins Lana Zak and Errol Barnett ahead of the Federal Reserve's decision on interest rates. He discusses the Biden administration's response to recent bank failures and stubbornly high inflation.
Specter of "too big to fail" still haunts the banking industry
Forced sale of a storied investment bank and lax U.S. financial rules are renewing concerns about the banking sector.
Investors are panicked over banks. Will the Fed make things worse?
Inflation's still high, but analysts warn that further rate hikes from the Fed could lead more more banks to topple.
Fed expected to raise interest rates again
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.
Yellen: We have plan in place in case more banks fail
The treasury secretary says the plan would be set in motion if additional collapses trigger a run on banks.
First Republic Bank woes mount despite Wall Street rescue
Regional lender's stock prices plunges 47% even after a group of the nation's biggest banks injected $30 billion in deposits.
SVB and First Republic's problems aren't going away. Here's why.
About 190 banks could fail if even half of their uninsured depositors withdraw their money, a new study finds.
UBS to purchase Credit Suisse amid fallout from U.S. bank collapses
Officials announced the takeover on Sunday, after shares of Credit Suisse plummeted last week despite a $54 billion loan from the Swiss National Bank.
Transcript: "Pivot" co-hosts Kara Swisher and Scott Galloway on "Face the Nation," March 19, 2023
The following is a transcript of an interview with Kara Swisher and Scott Galloway, co-hosts of "Pivot" podcast, that aired on "Face the Nation" on Sunday, March 19, 2023.
Transcript: H.R. McMaster on "Face the Nation," March 19, 2023
The following is a transcript of an interview with H.R. McMaster,former national security adviser in the Trump White House and a CBS News contributor, that aired on "Face the Nation" on Sunday, March 19, 2023.
Transcript: Gary Cohn on "Face the Nation," March 19, 2023
The following is a transcript of an interview with Gary Cohn, the former top economic adviser in the Trump White House and now vice chairman of IBM, that aired on "Face the Nation" on Sunday, March 19, 2023.
Transcript: Rep. Patrick McHenry on "Face the Nation," March 19, 2023
The following is a transcript of an interview with Rep. Patrick McHenry, Republican of North Carolina, that aired on "Face the Nation" on Sunday, March 19, 2023.
Transcript: Sen. Elizabeth Warren on "Face the Nation," March 19, 2023
The following is a transcript of an interview with Sen. Elizabeth Warren, Democrat of Massachusetts, that aired on "Face the Nation" on Sunday, March 19, 2023.
Shares of First Republic, Credit Suisse tumble despite new capital
The banks came under renewed pressure despite emergency measures to bolster their finances.
Biden asks Congress to crack down on executives at failed banks
The president is asking Congress to expand the FDIC's authority to penalize executives of failed banks.
SVB Financial, former parent of Silicon Valley Bank, files for bankruptcy
The bankruptcy comes days after its bank was shut down and taken over by regulators amid a solvency crisis.
U.S.
Former CIA Director John Brennan sues DOJ, Trump officials over criminal probes
Brennan is seeking a court order to force the preservation of records in the investigations targeting him. His attorneys say he's being "vindictively singled out for investigation."
U.S. says it won't extend key trade deal with Canada and Mexico
The United States-Mexico-Canada Agreement will remain in effect until it expires in 2036, unless the countries strike another deal to extend it.
U.S. helicopter goes down in Arabian Sea, crew member missing, Navy says
The helicopter, which was assigned to the USS George H.W. Bush, is not believed to have been taken down by hostile action, the Navy said.
2 Empire State Building climbers in custody after apparently getting engaged at the top
Two people climbed to the top of New York City's Empire State Building, unfurled a banner, and then apparently got engaged Wednesday afternoon.
Justice Department sues Virginia, California over gun laws
Acting U.S. Attorney General Todd Blanche said "the Constitution is not a suggestion" and that "the Second Amendment is a sacred right belonging to all Americans."
Sony to stop making physical discs for PlayStation starting in 2028
After January 2028, new games will be available exclusively in digital format from the PlayStation Store and at retailers, Sony said.
Trump takes first trip on Qatari-gifted Air Force One
President Trump is traveling Wednesday to North Dakota in what marks his first trip aboard the new Air Force One, which was gifted to the U.S. by the Qatari government last year.
Woman survives falling 1,500 feet down Mount Shasta
A woman suffered injuries but survived falling 1,500 feet down California's Mount Shasta, which she had attempted to climb, officials said.
Victor Willis, Village People lead singer, dies at 74
Victor Willis, lead singer of the disco group Village People, whose hit "Y.M.C.A." became a fixture at rallies for President Trump, has died at the age of 74, his wife and the band said.
This July 4th could be hottest ever in parts of U.S.
Extremely dangerous heat, coupled with humidity, could result in heat index readings of 100 to 115 degrees from the Midwest to the East Coast, forecasters said.
Aspen Acres Fire burns dozens of homes in southern Colorado
The Aspen Acres Fire has destroyed 55 homes in Custer County and more than 100 structures in Pueblo County.
House GOP agenda stalls over holdouts' insistence on SAVE America Act
The holdouts blocked Speaker Mike Johnson's plan to merge the SAVE America Act with the annual defense policy bill before sending it over to the Senate.
How the Supreme Court ruled on Trump's agenda this term
The court's decisions cemented Mr. Trump's authority over vast swathes of the government, while delivering significant setbacks to his agenda in other areas.
Consumers need protection from AI agents, lawmaker says
Sen. Mark Warner wants to create a federal registry of trusted AI agents and ensure autonomous bots operate like fiduciaries.
Details emerge of Taylor Swift-Travis Kelce wedding events at MSG
Taylor Swift and Travis Kelce's wedding plans include a rehearsal dinner and a late-night celebration at Madison Square Garden in New York City, according to sources familiar with the security planning.
Egg producers reach federal and state settlement after price-fixing probe
Three U.S. egg producers will be required to provide 53 million eggs to food banks and to pay a $3.3 million financial penalty.
Less than 40% of U.S. households can afford a starter home, study finds
The typical non-homeowner household earns about $7,000 less than what's needed to buy an entry-level home, according to LendingTree.
Supreme Court says nation's top copyright official can keep job for now
The Supreme Court on Tuesday said it won't allow President Trump to remove the nation's top copyright official.
Supreme Court takes up challenges to AR-15 bans
The Supreme Court agreed to take up challenges to so-called assault-weapons bans in Cook County, Illinois, and Connecticut.
Supreme Court upholds birthright citizenship, striking down Trump's order
The Supreme Court on Tuesday struck down President Trump's executive order seeking to end birthright citizenship.
Supreme Court strikes down coordinated campaign spending limits
The Supreme Court struck down federal limits on the amount of money a political committee can spend in coordination with federal candidates.
Supreme Court upholds state transgender athlete bans in girls' and women's sports
The Supreme Court upheld state laws from West Virginia and Idaho that restricted participation by transgender athletes in girls' and women's sports.
AI could make people dull, one scientist fears. Here's why.
AI tends to "play it safe within a user's preferences," nudging people toward more conventional choices, according to computational social scientist Sandra Matz.
Ford recalls more than 741,000 vehicles due to faulty park system
Ford estimates that 1% of the vehicles have the defect, according to the recall notice.
Over half a million dollars stolen from ATMs in "jackpotting" scheme
Four men are accused of stealing more than half a million dollars from ATMs in Connecticut, in a "jackpotting scheme," authorities said.
U.S.
More U.S.
Former CIA Director John Brennan sues DOJ, Trump officials over criminal probes
Brennan is seeking a court order to force the preservation of records in the investigations targeting him. His attorneys say he's being "vindictively singled out for investigation."
U.S. says it won't extend key trade deal with Canada and Mexico
The United States-Mexico-Canada Agreement will remain in effect until it expires in 2036, unless the countries strike another deal to extend it.
U.S. helicopter goes down in Arabian Sea, crew member missing, Navy says
The helicopter, which was assigned to the USS George H.W. Bush, is not believed to have been taken down by hostile action, the Navy said.
2 Empire State Building climbers in custody after apparently getting engaged at the top
Two people climbed to the top of New York City's Empire State Building, unfurled a banner, and then apparently got engaged Wednesday afternoon.
Justice Department sues Virginia, California over gun laws
Acting U.S. Attorney General Todd Blanche said "the Constitution is not a suggestion" and that "the Second Amendment is a sacred right belonging to all Americans."
MoneyWatch
More MoneyWatch
U.S. says it won't extend key trade deal with Canada and Mexico
The United States-Mexico-Canada Agreement will remain in effect until it expires in 2036, unless the countries strike another deal to extend it.
Sony to stop making physical discs for PlayStation starting in 2028
After January 2028, new games will be available exclusively in digital format from the PlayStation Store and at retailers, Sony said.
Anthropic says Trump admin. lifted restrictions on powerful Claude AI models
Artificial intelligence giant Anthropic says the federal government lifted a set of restrictions on its powerful Claude Fable 5 and Mythos 5 models, resolving a weekslong dispute.
Trump made over $1 billion on crypto ventures last year, disclosure shows
President Trump earned more than a billion dollars from crypto-related ventures alone last year, according to a financial disclosure, including from his meme coin business and his family's cryptocurrency firm.
Consumers need protection from AI agents, lawmaker says
Sen. Mark Warner wants to create a federal registry of trusted AI agents and ensure autonomous bots operate like fiduciaries.
Politics
More Politics
Former CIA Director John Brennan sues DOJ, Trump officials over criminal probes
Brennan is seeking a court order to force the preservation of records in the investigations targeting him. His attorneys say he's being "vindictively singled out for investigation."
More than 1,000 cases under review after Broadview Six misconduct revelations
More than 1,000 grand jury presentations are under review after charges were dismissed in the "Broadview Six" case due to grand jury abuses and prosecutorial misconduct, Chicago's top federal prosecutor said.
U.S. says it won't extend key trade deal with Canada and Mexico
The United States-Mexico-Canada Agreement will remain in effect until it expires in 2036, unless the countries strike another deal to extend it.
Justice Department sues Virginia, California over gun laws
Acting U.S. Attorney General Todd Blanche said "the Constitution is not a suggestion" and that "the Second Amendment is a sacred right belonging to all Americans."
Harvard professor known for alien theories to lead White House UFO council
Avi Loeb, a Harvard astronomer who has made headlines with his theories about alien encounters, will lead a White House scientific advisory council on UFOs.
HealthWatch
More HealthWatch
Actor Danny Glover reveals Alzheimer's diagnosis
Actor Danny Glover spoke about his Alzheimer's diagnosis in an interview with NBC's "Today" show, revealing that he has been living with the disease for several years.
Medicare to help pay for some GLP-1 drugs
Starting Wednesday, Medicare will help pay for some GLP-1 medications for weight loss. CBS News medical correspondent Dr. Celine Gounder explains what this means for patients.
New disease threats follow Trump administration's health program cuts
From screwworm to flesh-eating bacteria, mounting public health risks are emerging in the wake of deep cuts to federal health agencies and programs.
What is the viral trend looksmaxxing?
Looksmaxxing is a viral and controversial trend that encourages young men to maximize their appearance. Adam Yamaguchi shows why it's resonating with some people.
He dreamed of becoming a physician assistant. New loan rules may thwart him.
Starting July 1, the government will cap what graduate students may borrow in federal loans, forcing many toward private lenders with higher interest rates.
World
More World
U.S. helicopter goes down in Arabian Sea, crew member missing, Navy says
The helicopter, which was assigned to the USS George H.W. Bush, is not believed to have been taken down by hostile action, the Navy said.
Dog pulled from rubble 5 days after Venezuela quakes, video shows
Dramatic video showed the moment a rescue team pulled a small dog from the rubble nearly a week after twin earthquakes devastated Venezuela.
How Iran could try to control the Strait of Hormuz — and profit from it
Some experts say the Strait of Hormuz will not return to its pre-war state, so what could the future of this vital shipping lane look like?
Live
Trump lauds "very good meetings" as indirect U.S.-Iran talks resume
Vance says the U.S. has accomplished its "core mission" in Iran, as Steve Witkoff and Jared Kushner meet mediators in Qatar, but not Iranians.
At least 14 kids killed as Pakistan tutoring center's roof collapses
The roof of a private tutoring center in Lahore, Pakistan, collapsed, killing more than a dozen pupils and leaving at least eight more injured, authorities say.
Entertainment
More Entertainment
Entertainment
What we know about rumored Swift-Kelce wedding
Taylor Swift and Travis Kelce's wedding festivities are expected to begin Thursday, sources said. Crews have been spotted at Madison Square Garden in New York City unloading equipment ahead of the July Fourth weekend. Here's what we know so far.
Swift-Kelce wedding events taking shape
Taylor Swift and Travis Kelce's wedding events are set to begin in New York City, sources say. CBS News' Jo Ling Kent has the latest.
Sophia Bush, Jerry O'Connell on new comedy
Sophia Bush and Jerry O'Connell join CBS News 24/7 Mornings to discuss their new comedy, "Summer's Last Resort," which premieres on Tubi July 3.
Stars talk "Summer's Last Resort" comedy
Sophia Bush and Jerry O'Connell talk to "CBS Mornings" about starring in the coming-of-age comedy "Summer's Last Resort." Bush discusses what drew her to the project and says there was "never a dull day on set," while O'Connell reveals what his daughters thought about the film.
Actor Danny Glover reveals Alzheimer's diagnosis
Actor Danny Glover spoke about his Alzheimer's diagnosis in an interview with NBC's "Today" show, revealing that he has been living with the disease for several years.
Technology
More Technology
Technology
White House lifted AI limits, Anthropic says
Tech giant Anthropic says that the federal government has now removed restrictions from its robust Claude Fable 5 and Mythos 5 models. Axios reporter Madison Mills has more on artificial intelligence regulation.
Sony to stop making physical discs for PlayStation starting in 2028
After January 2028, new games will be available exclusively in digital format from the PlayStation Store and at retailers, Sony said.
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.
Consumers need protection from AI agents, lawmaker says
Sen. Mark Warner wants to create a federal registry of trusted AI agents and ensure autonomous bots operate like fiduciaries.
AI could make people dull, one scientist fears. Here's why.
AI tends to "play it safe within a user's preferences," nudging people toward more conventional choices, according to computational social scientist Sandra Matz.
Science
More Science
Science
NASA strives to save doomed telescope
NASA is in a race against time as the Swift Observatory telescope in orbit sinks closer to Earth. CBS News consultant William Harwood explains the $30 million salvage operation.
Fossil found in drawer turns out to be first dinosaur bone from Antarctica
Dinosaur fossils are rare to find in Antarctica because of the unforgiving ice caps. But millions of years ago, the region was populated by lush forests.
NASA prepares to launch rescue to save telescope from falling to Earth
The $30 million salvage operation gets underway as soon as this week with the planned launch of a robotic lifesaver.
Astronomers find 2 gigantic planets lighter than cotton candy
The featherweight pair — orbiting a star 1,110 light-years away — are the biggest exoplanets found to have less density than cotton candy.
Ancient Egyptian burial site reveals centuries of changing traditions
Human and animal remains unearthed in Egypt's Nile Delta reveal changing funerary practices over some 600 years, and the evolution of a key site itself.
Crime
More Crime
More than 1,000 cases under review after Broadview Six misconduct revelations
More than 1,000 grand jury presentations are under review after charges were dismissed in the "Broadview Six" case due to grand jury abuses and prosecutorial misconduct, Chicago's top federal prosecutor said.
Potential charges for Empire State Building climbers
Two people climbed to the top of the Empire State Building Wednesday and unfurled a banner before seemingly getting engaged. CBS News law enforcement contributor Rodney Harrison has more on what repercussions the couple could face.
Couple climbs Empire State Building: Details
Two people climbed to the top of the Empire State Building in New York City on Wednesday, unfurling a banner and appearing to get engaged. CBS News' Tom Hanson and Shanelle Kaul have more.
3 in custody after CBS News Chicago crew attacked near Adler Planetarium
During the incident, a reporter and photographer were approached by three men, one with a dog, before their news truck and gear were destroyed.
U.S. announces new bank alert targeting powerful drug cartel
Two men and nine companies are accused of being tied to a cartel-linked fuel theft ring intended to evade taxes while generating tens of millions of dollars annually.
Space
More Space
NASA astronauts operate on space station's broken robot arm
The orbital surgery on the International Space Station returned the Canadian-built robot arm to full health after its "wrist" joint failed last month.
NASA prepares to launch rescue to save telescope from falling to Earth
The $30 million salvage operation gets underway as soon as this week with the planned launch of a robotic lifesaver.
Astronomers find 2 gigantic planets lighter than cotton candy
The featherweight pair — orbiting a star 1,110 light-years away — are the biggest exoplanets found to have less density than cotton candy.
Telescope snaps most detailed photo yet of Milky Way's heart
Euclid is on a mission to chart one-third of the sky in the hopes of shedding light on the enduring mysteries of dark matter and dark energy.
Interstellar comet may be oldest object ever seen in solar system
Exactly where the comet 3I/ATLAS came from within the Milky Way remains a mystery.
Latest Galleries
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Celebrations at Obama Presidential Center
The Obama Presidential Center, museum and library opens in Chicago with a star-studded grand opening ceremony and public watch party on Midway Plaisance.
Notable Deaths in 2026
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Summer music highlights of 2026
Summer is the time to enjoy live music, indoors and out. Scroll through our gallery of some of 2026's leading musical acts, featuring images by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
Timeline: The disappearance of George Smith
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Who is Alix Tichelman?
Meet the tattooed beauty charged in the death of Google executive Forrest Hayes.
Latest CBS News Videos
More Latest CBS News Videos
Latest CBS News Videos
6/27: CBS Weekend News
High winds and heat are fueling Utah's out-of-control wildfires; Iranian drones target Bahrain after U.S. strikes Iran.
What we know about rumored Swift-Kelce wedding
Taylor Swift and Travis Kelce's wedding festivities are expected to begin Thursday, sources said. Crews have been spotted at Madison Square Garden in New York City unloading equipment ahead of the July Fourth weekend. Here's what we know so far.
USMNT starts World Cup knockout stage
The U.S. Men's National Team will play their first knockout stage match of the 2026 World Cup Wednesday night against Bosnia and Herzegovina. CBS News' Nicole Valdes reports.
Navy: U.S. chopper goes down in Arabian Sea
Three members of a four-person U.S. helicopter crew were rescued at sea after an "emergency water landing" in the Arabian Sea on Wednesday, the Navy said. A search continues for the fourth and final crew member.
Potential charges for Empire State Building climbers
Two people climbed to the top of the Empire State Building Wednesday and unfurled a banner before seemingly getting engaged. CBS News law enforcement contributor Rodney Harrison has more on what repercussions the couple could face.