![Fed Chair Jerome Powell Speaks At The Economic Club Of Washington D.C.](https://assets2.cbsnewsstatic.com/hub/i/r/2022/09/21/223f3f0d-28e8-42f3-9d68-70fa792782b8/thumbnail/640x360/a53153e8acb28f113e0e4edbfe3bddf0/powell-gettyimages-1411282541.jpg?v=5501038cbc281520ff9fdc308faab7dc#)
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.
Watch CBS News
Central bank officials will announce on Wednesday if they are hiking the federal funds rate for a 10th consecutive time.
Shares of Los Angeles lender PacWest Bancorp fell 28% as spooked investors bail from regional banks.
JPMorgan Chase is buying the troubled lender after it became the second biggest bank failure in U.S. history.
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.
The ailing regional lender is at risk of becoming the third U.S. bank to collapse since March.
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.
FDIC Chairman Martin Gruenberg estimated about $20 billion would be needed to cover the collapse of Silicon Valley Bank.
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.
They say government helps wealthy more than middle class amid bank issues.
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.
Forced sale of a storied investment bank and lax U.S. financial rules are renewing concerns about the banking sector.
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 treasury secretary says the plan would be set in motion if additional collapses trigger a run on banks.
Regional lender's stock prices plunges 47% even after a group of the nation's biggest banks injected $30 billion in deposits.
About 190 banks could fail if even half of their uninsured depositors withdraw their money, a new study finds.
Officials announced the takeover on Sunday, after shares of Credit Suisse plummeted last week despite a $54 billion loan from the Swiss National Bank.
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.
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.
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.
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.
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.
The banks came under renewed pressure despite emergency measures to bolster their finances.
The president is asking Congress to expand the FDIC's authority to penalize executives of failed banks.
The Federal Deposit Insurance Corp will shoulder the immediate cost, but bank customers could see higher fees later.
Former FBI special agent Peter Strzok reached a $1.2 million settlement with DOJ over claims that it violated his privacy in releasing text messages with another former employee regarding Donald Trump.
The single-engine tanker was located in steep, forested terrain Friday morning after it went missing Thursday.
One of El Chapo's sons duped Ismael "El Mayo" Zambada into boarding a plane on Thursday, telling him they were going to look at property in Mexico, a person familiar with the investigation confirmed to CBS News.
Half of all U.S. states have at least one city where a relatively modest residence costs $1 million, according to a new analysis.
Sean Grayson, the now-fired Illinois sheriff's deputy charged with killing 36-year-old Sonya Massey in her own home, had a disciplinary file that included accusations of bullying and abuse of power, records obtained by CBS News show.
The FBI's statement came after its director testified that there was still "some question" about what grazed former President Donald Trump's right ear.
"People are focusing so much on the sarcasm and not on the substance of what I actually said," Vance said Friday.
Multimillionaires are much happier than the merely well off, suggesting life satisfaction continues to improve the wealthier you are.
"Inside the NBA" host Charles Barkley is decrying the NBA's new broadcast pact, saying Warner Bros. Discovery's TNT "never had a chance."
Former FBI special agent Peter Strzok reached a $1.2 million settlement with DOJ over claims that it violated his privacy in releasing text messages with another former employee regarding Donald Trump.
The single-engine tanker was located in steep, forested terrain Friday morning after it went missing Thursday.
One of El Chapo's sons duped Ismael "El Mayo" Zambada into boarding a plane on Thursday, telling him they were going to look at property in Mexico, a person familiar with the investigation confirmed to CBS News.
Half of all U.S. states have at least one city where a relatively modest residence costs $1 million, according to a new analysis.
Sean Grayson, the now-fired Illinois sheriff's deputy charged with killing 36-year-old Sonya Massey in her own home, had a disciplinary file that included accusations of bullying and abuse of power, records obtained by CBS News show.
Half of all U.S. states have at least one city where a relatively modest residence costs $1 million, according to a new analysis.
Multimillionaires are much happier than the merely well off, suggesting life satisfaction continues to improve the wealthier you are.
"Inside the NBA" host Charles Barkley is decrying the NBA's new broadcast pact, saying Warner Bros. Discovery's TNT "never had a chance."
Amid a widening listeria outbreak, Boar's Head is recalling all of its liverwurst products sold nationwide, as well as some deli meats.
Physical performances by actors are being treated as "data," said SAG-AFTRA Chief Contracts Officer Ray Rodriguez said at a news conference.
Former FBI special agent Peter Strzok reached a $1.2 million settlement with DOJ over claims that it violated his privacy in releasing text messages with another former employee regarding Donald Trump.
The FBI's statement came after its director testified that there was still "some question" about what grazed former President Donald Trump's right ear.
"People are focusing so much on the sarcasm and not on the substance of what I actually said," Vance said Friday.
Some Republican lawmakers have called Harris a "DEI hire," a reference to diversity, equity and inclusion efforts.
Republican presidential nominee Donald Trump met with Israeli Prime Minister Benjamin Netanyahu at his Mar-a-Lago resort in Florida.
Amid a widening listeria outbreak, Boar's Head is recalling all of its liverwurst products sold nationwide, as well as some deli meats.
There may be new hope against dementia after recent research that found the latest shingles vaccine appears to delay the onset of the memory-impairing condition.
The Olympic village beds are "rock solid," according to some athletes on social media. Oh, and there's no AC. A sleep expert explains how these conditions could impact performance.
Prompted by a near-drowning experience as a child, Olympic swimmer Cullen Jones is now a swim lesson advocate. Here are his top tips to stay safe.
COVID is spiking across the country, but why? CBS News medical contributor Dr. Céline Gounder explains why July is seeing increased cases.
Celine Dion, nearly two years after revealing her stiff-person syndrome diagnosis, belted Edith Piaf's "Hymne à l'amour" as the finale of the four-hour opening ceremony.
One of El Chapo's sons duped Ismael "El Mayo" Zambada into boarding a plane on Thursday, telling him they were going to look at property in Mexico, a person familiar with the investigation confirmed to CBS News.
Viewers can see each country's 2024 Olympic outfits during the Paris Games opening ceremony.
Athletes from Russia and Belarus have been banned from competing as countries in the 2024 Paris Olympics. Instead, their athletes will compete as neutral individuals, referred to as "AIN."
The ambitious opening ceremony of the Summer Games kicked off with a giant plume of blue, white and red smoke in the colors of the French national flag with the 2024 Parade of Nations from the Austerlitz Bridge.
In a statement provided to CBS New York, Justin Timberlake's attorney claimed police made "a number of very significant errors in this case" and "we are confident that this charge will be dismissed."
Physical performances by actors are being treated as "data," said SAG-AFTRA Chief Contracts Officer Ray Rodriguez said at a news conference.
"Mr. Vance, I pray that your daughter is fortunate enough to bear children of her own one day," Jennifer Aniston said.
Hundreds of the nation's top athletes will represent Team USA in Paris at the 2024 Olympics.
Displaying not a shred of anxiety, Pixar's "Inside Out 2" has rung up $1.4 billion at the box office since its June release.
One week after the global computer outage, Windows systems are nearly fully operational, according to CrowdStrike.
Rep. Jennifer Wexton of Virginia delivered what is believed to be the first speech ever from the House floor using artificial intelligence voice technology. Wexton was diagnosed last year with a rare neurological disorder that robbed her of her ability to speak clearly.
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.
Social media giant Meta is issuing a warning over the increasing number of sextortion scams where fake profiles are used to get people to send nude photographs and then threaten to release them unless victims pay up. On Wednesday, Meta said it has removed 6,300 Instagram accounts of scammers in Nigeria who frequently target adult men in the U.S.
A tech selloff caused the Nasdaq and S&P 500 to have their worst days since 2022. Here's why tech stocks are fading.
In Canada, a fast-moving fire has ravaged the resort town of Jasper, Alberta. In Northern California, fires have burned 164,000 acres of land. CBS News Sacramento reporter Kayla Moeller joins from Chico, California, with more on the wildfires.
Scientists say a common painkiller used on cattle wiped out India's vultures, resulting in half a million human deaths in just 5 years.
Wildfires are spreading across the western U.S. and Canada. In Northern California, the Park Fire has burned over 71,000 acres, and officials have arrested a 42-year-old man on suspicion of arson for starting the fire. CBS News national correspondent Jonathan Vigliotti has the latest.
The discovery includes "thousands of marble slabs" in "hundreds of different shapes" found in a submerged ancient city.
Multiple wildfires on the West Coast and in Canada have forced thousands of people to evacuate. Crews are fighting flames in California, Oregon, Utah and Idaho. CBS News national correspondent Jonathan Vigliotti reports.
CBS News has learned that the sheriff's deputy charged with murder in the shooting of Sonya Massey worked for six different law enforcement agencies in four years. He was also discharged from the Army in 2016 for misconduct after receiving a DUI. Roxana Saberi reports.
Two leaders of the notorious Sinaloa cartel, including one of the sons of the imprisoned drug lord "El Chapo," Joaquín Guzmán López, were apprehended Thursday in Texas. Ismael "El Mayo" Zambada, a cofounder of Sinaloa, was lured to Texas by López, according to sources. Manuel Bojorquez has details.
The FBI arrested the leader of Mexico's notorious Sinaloa cartel and a son of Joaquin "El Chapo" Guzman near El Paso on Thursday. CBS News national correspondent Manuel Bojorquez is in Irving, Texas, with more details.
An autopsy report released Friday confirms Sonya Massey, the Illinois woman who was fatally shot inside her home earlier this month by a sheriff's deputy, died from a gunshot wound to the head. CBS News correspondent Roxana Saberi has the latest from Chicago.
One of El Chapo's sons duped Ismael "El Mayo" Zambada into boarding a plane on Thursday, telling him they were going to look at property in Mexico, a person familiar with the investigation confirmed to CBS News.
Engineers say they're still troubleshooting issues discovered aboard the Boeing Starliner spacecraft that took NASA astronauts Butch Wilmore and Suni Williams into space. They were originally supposed to spend eight days aboard the International Space Station. They've now been up there for almost eight weeks.
NASA and Boeing managers are increasingly confident the Starliner capsule is good to go for re-entry and landing.
The Chandra X-ray observatory was launched on July 23, 1999.
The cosmos is providing a full moon for the 55th anniversary of the first lunar landing this weekend, and plenty of other events honor Neil Armstrong and Buzz Aldrin's giant leap.
This weekend marks 55 years since the historic Apollo 11 moon landing. Retired NASA astronaut Leroy Chiao joins CBS News to look back on the small step for man and giant leap for mankind.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
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.
A teenager's murder in Lowell, Massachusetts, goes unsolved for more than 40 years -- were the clues there all along?
The actor, recipient of a lifetime achievement Academy Award, was renowned for such films as "MASH," "Klute," "Don't Look Now," "Ordinary People," and "The Hunger Games."
The Illinois mom wrote, "If something ever happens to me, please make sure the number one person of interest is Tim." Take a look at the evidence that led to Tim Bliefnick's arrest.
During a 2019 classical music concert at Symphony Hall in Boston, a 9-year-old boy shouted "wow" at the conclusion of Mozart's Masonic Funeral Music. Five years later, his response still resonates. Steve Hartman has more.
Hours before the opening ceremony of the Paris Olympics, France's train network was hit by several coordinated arson attacks, causing widespread disruption. Officials said fires were set at critical spots in an attempt to cut off routes into Paris. Jamie Yuccas reports.
In an interview with CBS News' Major Garrett, independent presidential candidate Robert F. Kennedy Jr. claimed that President Biden "tarred" his "reputation and that career over the past year by refusing to let go of power." He also addressed his meeting with former President Donald Trump at the Republican National Convention.
CBS News has learned that the sheriff's deputy charged with murder in the shooting of Sonya Massey worked for six different law enforcement agencies in four years. He was also discharged from the Army in 2016 for misconduct after receiving a DUI. Roxana Saberi reports.
Two leaders of the notorious Sinaloa cartel, including one of the sons of the imprisoned drug lord "El Chapo," Joaquín Guzmán López, were apprehended Thursday in Texas. Ismael "El Mayo" Zambada, a cofounder of Sinaloa, was lured to Texas by López, according to sources. Manuel Bojorquez has details.