12/11/2022: The Treasury Secretary, Suing Social Media, College of Magic
Janet Yellen on recession fears, inflation and the war in Ukraine; Families suing social media companies; Cape Town's College of Magic.
Economy
Pakistan's teetering economy may end its urban late-night consumerism
The government aims to save a much-needed $273 million per year by making businesses close earlier, but business leaders aren't buying it.
Looking for positive signs on economy
Investors are looking for any positive signs to bounce back from a down 2022 in the stock market. Chief investment officer Ahmed Riesgo of Insigneo joined CBS News to discuss where those signs might come from.
Housing market forecast for 2023
Jason Lewris, the co-founder and head of Parcl Labs, joins CBS News to share his forecast for the 2023 housing market at the start of the new year.
Some employers offer largest raises in years
Employers are, on average, offering their highest raises in decades as they look to hold on to employees who might otherwise switch companies or jobs for a salary boost. Wall Street Journal reporter Gabriel Rubin joins "CBS News Mornings" to break down how salaries compare for workers who are staying put versus those who are jumping ship.
1/1: Michael Gapen, foreign policy panel
This week on "Face the Nation with Margaret Brennan," we want to look forward, offering the outlook ahead on the economy, foreign policy and the environment, taking advantage of at least one quiet Sunday here in Washington before the new Congress convenes later this week.
MoneyWatch: Financial predictions for 2023
2022 was the U.S. stock market's worst year since 2008. Javier David, the managing editor of business and markets for Axios and a CBS News contributor, joins us to breaks dow the challenges facing Wall Street and the risk of a recession in the new year.
Food banks struggle to meet demand
Food banks are having a hard time keeping up with families' needs as inflation raises the price of food and other essentials. Brian Ourien, director of brand marketing and communication at The Bowery Mission, joins CBS News to discuss the latest.
Bank of America economist: 2023 could be "difficult"
Michael Gapen, chief economist at Bank of America, says the U.S. "may be able to avoid" a recession in 2023, but it "could be a difficult year."
S&P 500 caps off dismal year with worst loss since 2008 crash
Major indexes close out tough year buffeted by stubbornly hot inflation, war in Ukraine and a lingering pandemic.
This week on "Face the Nation with Margaret Brennan," January 1, 2023
International Monetary Fund Managing Director Kristalina Georgieva, Bank of America Managing Director and Chief U.S. Economist Michael Gapen and more will appear on "Face the Nation with Margaret Brennan" this Sunday.
Slightly more Americans sought jobless aid last week
Should Fed's rate hikes cause a recession, a jump in layoffs and unemployment claims would be an early sign.
Holiday gift returners could get hit with new fees
Many retailers have changed their return policies to add additional fees, which could impact those looking to exchange their unwanted holiday gifts. Nancy Chen reports.
Report: Americans hold onto $21 billion in unused gift cards
Nearly half of all Americans are holding onto $21 billion in unused gift cards, according to a new report.
U.K. Border Force goes on strike
U.K. officials have warned travelers that there could be disruptions and delays as the Border Force stages a strike. Mail and highway workers are also walking off the job amid a wave of labor actions. Helena Humphrey joined Elaine Quijano on "CBS News Mornings" to discuss the strikes.
Stocks plummet as good economic news fuels interest-rate fears
Wall Street loses its gains from the last two days, as reports show better-than-expected data on economy.
U.K. economy faces "stagflation," strikes
John Quelch, dean of the University of Miami Herbert School Business, joins "CBS News Mornings" to discuss the recent downturn n the U.K. economy.
GDP grew faster in third quarter
The U.S. economy grew at a faster rate in the third quarter than first estimated. Morning Consult economic analyst Jesse Wheeler joined CBS News' Elaine Quijano to discuss GDP numbers, recession fears and consumer confidence.
Is it a good time to refinance your mortgage?
A growing number of homeowners are considering refinancing as mortgage rates begin to decline. Mike Fratantoni, chief economist at the Mortgage Bankers Association, joins CBS News' Lana Zak and Jim Axelrod to discuss the state of the housing market.
Consumer confidence helps drive market
The Dow Jones Industrial Average gained over 500 points on Wednesday as investors reacted to a higher-than-expected consumer confidence report. Dana Peterson, chief economist at The Conference Board, joined CBS News to discuss her organization's findings and her expectations for 2023.
Binance faces concerns about crypto
Binance, one of the world's largest cryptocurrency exchanges, is facing questions about its business model and the stability of crypto markets. Binance chief strategy officer Patrick Hillmann joins CBS News to discuss the impact FTX's collapse is having on the market.
Stocks on Wall Street gain ground, turning higher for the week
Major stock indexes rose into the green for the week, as investors remain focused on hot inflation and a potential recession.
Biden releases plan to reduce homelessness
A new report from the U.S. Department of Housing and Urban Development estimates that more than 580,000 people were experiencing homelessness on a single night in January 2022. Now the Biden administration is announcing a new plan to help address the problem. Greg Kim, who reports on homelessness for the Seattle Times, joins CBS News' John Dickerson with more.
Face The Nation: Cuellar, Strassmann, Bottoms, Gottlieb, Tyab
Missed the second half of the show? The latest on Henry Cuellar call for Biden to visit border; consumers watching holiday spending despite hopeful economic indicators; Keisha Lance Bottoms on how the end of Title 42 is an issue that "affects us all"; Scott Gottlieb thoughts on the tripledemic looms this holiday season; and life is desperate in Kherson as war in Ukraine passes its 300th day.
Stocks continue to fall at end of turbulent week
The Dow dropped another 300 points at its opening Friday, the index's third straight day of losses after news of a rise in interest rates and a drop in retail spending. Jesse Wheeler, an economic analyst for Morning Consult, joins CBS News to discuss the latest financial news and what the future holds.
Live
Strait of Hormuz traffic ramps up in wake of U.S.-Iran deal signing
More tankers are transiting the Strait of Hormuz after 111 days of gridlock, but Iran and the U.S. still have much to discuss.
U.S. plans expansion of denaturalization push, aiming for 250 cases by fall
The Trump administration expects to try to revoke the U.S. citizenship of more than 250 foreign-born citizens by October, a Justice Department official said.
Facing bipartisan criticism of Iran deal, Trump lashes out at "fools"
Republican Sens. Bill Cassidy, Thom Tillis and Ted Cruz have been critical of the 14-point memorandum of understanding signed on Wednesday.
States not required to give community-based care for those with disabilities: DOJ opinion
The Office of Legal Counsel opinion released Thursday said states aren't required by law to integrate mentally disabled patients with their peers by providing community or home-based care.
Luigi Mangione's legal team withdraws psychiatric defense
Luigi Mangione's legal team says they withdrew a psychiatric defense in his New York state murder trial one day after telling the court they would use it.
Air Force unit faces flu outbreak weeks after vaccine mandate dropped
Dozens of service members at Lackland Air Force Base in Texas have fallen ill with the flu in the weeks since Defense Secretary Pete Hegseth rescinded the vaccine mandate, sources familiar confirmed to CBS News.
Hegseth announces review of U.S. forces in Europe, blasts "shameful" NATO allies
The Pentagon is launching a six-month review of U.S. forces and bases in Europe, Defense Secretary Pete Hegseth said Thursday at a meeting of NATO defense ministers.
Supreme Court sides with man who challenged law barring drug users from having guns
The Supreme Court on Thursday ruled in favor of a Texas man who challenged a federal law that bars certain drug users from having firearms.
Live
Obama Presidential Center opens in Chicago with star-studded celebrations
The Obama Presidential Center's grand opening ceremony featured a star-studded lineup of tributes, speeches and musical performances.
U.S.
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States not required to give community-based care for those with disabilities: DOJ opinion
The Office of Legal Counsel opinion released Thursday said states aren't required by law to integrate mentally disabled patients with their peers by providing community or home-based care.
Air Force unit faces flu outbreak weeks after vaccine mandate dropped
Dozens of service members at Lackland Air Force Base in Texas have fallen ill with the flu in the weeks since Defense Secretary Pete Hegseth rescinded the vaccine mandate, sources familiar confirmed to CBS News.
GOP congressman, missing for months, set to return on June 30
Republican Rep. Tom Kean Jr. of New Jersey will return to Congress on June 30, his spokesperson said, after being away since March in an unexplained absence that has confounded Capitol Hill.
Hegseth announces review of U.S. forces in Europe, blasts "shameful" NATO allies
The Pentagon is launching a six-month review of U.S. forces and bases in Europe, Defense Secretary Pete Hegseth said Thursday at a meeting of NATO defense ministers.
Americans say they're reading fewer books. Here's what they're doing instead.
Many people are spending more time on screens, but also doing more physical activities, a new CBS News poll finds.
MoneyWatch
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Less than half of Americans can afford quality healthcare, Gallup finds
Gallup found that only 49% of Americans were "cost-secure" last year, with concerns about medical bills and prescription costs rising across income groups.
Waymo recalls robotaxis after some vehicles entered construction zone
The recall follows multiple incidents in which Waymo robotaxis drove past ramp-closure signs and into freeway construction zones.
Intel shares leap after Trump announces chip deal with Apple
In a social media post, President Trump touted the U.S. government's 10% stake in Intel, noting that it is now worth $60 billion.
Gas prices fall below $4 a gallon for the first time in nearly 3 months
The national average for a gallon of regular gas in the U.S. drops to $3.99, the lowest since March 30.
Federal Reserve holds interest rates steady but leaves door open to hike
U.S. inflation is expected to remain elevated through the end of the year, Fed officials say in their latest forecast.
Politics
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States not required to give community-based care for those with disabilities: DOJ opinion
The Office of Legal Counsel opinion released Thursday said states aren't required by law to integrate mentally disabled patients with their peers by providing community or home-based care.
Air Force unit faces flu outbreak weeks after vaccine mandate dropped
Dozens of service members at Lackland Air Force Base in Texas have fallen ill with the flu in the weeks since Defense Secretary Pete Hegseth rescinded the vaccine mandate, sources familiar confirmed to CBS News.
Michelle Obama's speech at center opening moves husband to tears
Former first lady Michelle Obama delivered a loving and heartfelt tribute to her husband at the Obama Presidential Center's grand opening ceremony in Chicago Thursday.
GOP congressman, missing for months, set to return on June 30
Republican Rep. Tom Kean Jr. of New Jersey will return to Congress on June 30, his spokesperson said, after being away since March in an unexplained absence that has confounded Capitol Hill.
Hegseth announces review of U.S. forces in Europe, blasts "shameful" NATO allies
The Pentagon is launching a six-month review of U.S. forces and bases in Europe, Defense Secretary Pete Hegseth said Thursday at a meeting of NATO defense ministers.
HealthWatch
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Air Force unit faces flu outbreak weeks after vaccine mandate dropped
Dozens of service members at Lackland Air Force Base in Texas have fallen ill with the flu in the weeks since Defense Secretary Pete Hegseth rescinded the vaccine mandate, sources familiar confirmed to CBS News.
Less than half of Americans can afford quality healthcare, Gallup finds
Gallup found that only 49% of Americans were "cost-secure" last year, with concerns about medical bills and prescription costs rising across income groups.
Busy Philipps on her late ADHD diagnosis
Actress Busy Philipps, 45, spoke up about her late attention-deficit/hyperactivity disorder diagnosis online after realizing she shared symptoms as her young daughter was evaluated and diagnosed. Women are more likely than men to be diagnosed with ADHD later in life, research shows.
Drummer rediscovers his rhythm after setback
In the "CBS Mornings" series "Pushing the Limits," Mark Strassmann shows how a Georgia man's passion for music was almost taken away from him forever after a terrible accident. But thanks to his resilience and technology, the man is now a record-breaking drummer.
Arrests of immigrant parents create mental health crisis for children
An estimated hundreds of thousands of children, many of them U.S. citizens, have been separated from a parent in the Trump administration's immigration crackdown.
World
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Man charged after toddler ends up in crocodile enclosure at zoo
Police in eastern England said a man was arrested on suspicion of attempted murder after a 3-year-old boy "ended up in the crocodile enclosure" at a zoo.
Hegseth announces review of U.S. forces in Europe, blasts "shameful" NATO allies
The Pentagon is launching a six-month review of U.S. forces and bases in Europe, Defense Secretary Pete Hegseth said Thursday at a meeting of NATO defense ministers.
"Lady Gucci," who had her ex-husband killed, could soon inherit $23M fortune
Despite spending 18 years in prison for orchestrating the murder of her ex-husband, fashion heir Maurizio Gucci, Patrizia Reggiani may be about to inherit a fortune.
Facing bipartisan criticism of Iran deal, Trump lashes out at "fools"
Republican Senators Bill Cassidy, Thom Tillis, Ted Cruz and Tom Cotton have been critical of the 14-point memorandum of understanding signed on Wednesday.
Ukraine drone strike hits major Russian oil refinery near Moscow
Ukraine's Zelenskyy says after second major strike on Russian oil refinery that unless Putin stops his war, "Moscow will burn."
Entertainment
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Americans say they're reading fewer books. Here's what they're doing instead.
Many people are spending more time on screens, but also doing more physical activities, a new CBS News poll finds.
Singer Myles Smith talks debut album
Myles Smith's career skyrocketed after his hit song "Stargazing" became the biggest song by a U.K. artist worldwide in 2024. Now, he's releasing his debut album, "My Mess, My Heart, My Life," on June 19. Myles Smith joins "CBS Mornings" to discuss his rapid rise to stardom, his first album and his experience touring with Ed Sheeran.
Busy Philipps on her late ADHD diagnosis
Actress Busy Philipps, 45, spoke up about her late attention-deficit/hyperactivity disorder diagnosis online after realizing she shared symptoms as her young daughter was evaluated and diagnosed. Women are more likely than men to be diagnosed with ADHD later in life, research shows.
Drummer rediscovers his rhythm after setback
In the "CBS Mornings" series "Pushing the Limits," Mark Strassmann shows how a Georgia man's passion for music was almost taken away from him forever after a terrible accident. But thanks to his resilience and technology, the man is now a record-breaking drummer.
Extended interview: Myles Smith
British singer-songwriter Myles Smith talks to Anthony Mason about his much-anticipated debut album, "My Mess, My Heart, My Life," growing up in London, his rapid rise to stardom and more.
Technology
More Technology
Waymo recalls robotaxis after some vehicles entered construction zone
The recall follows multiple incidents in which Waymo robotaxis drove past ramp-closure signs and into freeway construction zones.
Americans on AI's future impact
A Pew survey shows 40% of Americans think AI's future impact will be negative. MIT Sloan professor Eric So joins CBS News with more details.
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.
Where to get the latest CBS Mornings Deals
On this edition of CBS Mornings Deals, we show you items that will help improve your everyday lifestyle. Visit cbsdeals.com to take advantage of these exclusive deals today. CBS earns commissions on purchases made through cbsdeals.com.
Inside an Irish town raising kids without smartphones
When parents and educators in Greystones, Ireland saw children dealing with increasing anxiety, they acted – and took phones out of the equation.
Science
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Science
Watch: Pentagon releases 6 new UFO videos
The Defense Department released a third batch of UFO files on Friday, three weeks after its second drop. These are all of the videos in the latest tranche, plus analysis from astrophysicist Avi Loeb.
Goblin shark seen alive in natural deep-sea habitat for the first time
The goblin shark had only previously been seen when caught by fishermen and they died shortly afterward.
World's largest whale graveyard found by sub at bottom of ocean
The researchers saw many strange animals — many believed to be new to science — living off the whale carcasses.
NASA names 4 astronauts for next Artemis mission
NASA's Artemis III astronauts plan to carry out rendezvous and docking procedures with commercial moon landers being built by SpaceX and Blue Origin.
Great white shark captured on video in Mediterranean in rare sighting
Great white sharks are classified as "critically endangered" in the Mediterranean Sea, and underwater sightings are incredibly rare.
Crime
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Man charged after toddler ends up in crocodile enclosure at zoo
Police in eastern England said a man was arrested on suspicion of attempted murder after a 3-year-old boy "ended up in the crocodile enclosure" at a zoo.
"Lady Gucci," who had her ex-husband killed, could soon inherit $23M fortune
Despite spending 18 years in prison for orchestrating the murder of her ex-husband, fashion heir Maurizio Gucci, Patrizia Reggiani may be about to inherit a fortune.
Ex-police commissioner on Heuermann sentence
The Long Island architect who lived a secret life as the Gilgo Beach serial killer was sentenced to life in prison without parole on Wednesday. Former Suffolk County Police Commissioner Rodney Harrison, who formed the task force that ultimately led to Rex Heuermann's arrest, joins with analysis.
Gilgo Beach serial killer sentenced
In a Long Island courtroom Wednesday, Rex Heuermann received three life sentences for choking and dismembering eight women, most of them in his basement, over the course of more than 15 years. The 62-year-old addressed the court before he was sent away. Tom Hanson reports.
Inside Gilgo Beach killer's sentencing hearing
A judge on Wednesday sentenced Gilgo Beach serial killer Rex Heuermann to life in prison without parole. CBS News New York's Jennifer McLogan was in the courtroom and joins with details.
Space
More Space
NASA chief defends choice of all-male crew for Artemis III mission
NASA's Jared Isaacman says the crew was selected solely based on their experience, expertise and availability for flight assignment.
NASA names 4 astronauts for next Artemis mission
NASA's Artemis III astronauts plan to carry out rendezvous and docking procedures with commercial moon landers being built by SpaceX and Blue Origin.
Space station crew briefly moves to "safe haven" amid concerns over leaks
Out of an abundance of caution, NASA briefly directed five of the seven crew members aboard the International Space Station to wait inside the docked SpaceX Crew Dragon "Freedom" spacecraft.
Sun erupts with 3 solar flares, raising chances of northern lights for U.S.
Three solar flares burst from the sun this week, raising the chances of seeing the northern lights for people across the United States.
NASA reluctantly gives up on lost orbiter: "Best Mars mission ever"
NASA officials said the $582 million MAVEN orbiter could not be recovered after a problem on the far side of Mars late last year, and that its extraordinarily successful mission was at an end.
Latest Galleries
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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.
Photos show 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.
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
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Latest CBS News Videos
America's long history of political turmoil
In his new book, "Been There, Done That," historian Greg Jackson shines a light on dark times in U.S. history, such as insurrections, political partisanship and disregard for the Constitution. Jackson joins "The Takeout" with more.
Details on U.S.-Iran peace deal
The clock started ticking for the U.S. and Iran to reach a final long-term peace deal after the presidents of both countries signed off on the 14-point memorandum of understanding on Wednesday. CBS News White House reporter Aaron Navarro has more.
Rep. Espaillat brushes off primary challenge
Democratic Rep. Adriano Espaillat, who chairs the Congressional Hispanic Caucus, has been one of the fiercest critics of President Trump, dating back to the president's first term. But the New Yorker now faces a primary challenger from his left who believes he hasn't been fierce enough and also has the backing of New York City Mayor Zohran Mamdani. Espaillat joins "The Takeout" to discuss.
Obama's unique take on the presidential library
Former presidents and world leaders gathered in Chicago on Thursday to celebrate the grand opening of the Obama Presidential Center. CBS News congressional correspondent Caitlin Huey-Burns reports.
H. R. McMaster on preliminary U.S.-Iran deal
President Trump's memorandum of understanding with Iran is being met with criticism from both Republicans and Democrats. H. R. McMaster, former national security adviser to Mr. Trump, joins with his perspective on the deal.