Federal Reserve hikes key interest rate by another 75 basis points
The rise in the federal funds rate, which is what banks charge each other for overnight loans, comes as several significant pieces of economic data are released this week.
Economy
Federal Reserve to hike interest rates
Economists and investors are bracing for another aggressive rate hike from the Federal Reserve today. The expected move would mark the fourth rate increase this year. Frances Stacy, the director of portfolio strategy for Optimal Capital, joins CBS News' Tanya Rivero and Christina Ruffini to discuss the central bank's upcoming meeting and its significance.
Stocks rise after Fed announces second consecutive 0.75% hike
Strong financial results from Alphabet, Boeing and other corporate bellwethers helped lift investors' mood.
Facebook parent Meta posts first revenue drop in company's history
"Questions about Meta's leadership" contributed to the decline, said Raj Shah, a managing partner at Publicis Sapient.
Federal Reserve preps rate hike announcement
In an effort to curb inflation, officials at the Federal Reserve are looking to hike interest rates. Finance correspondent for Insider Aaron Wineman joins CBS News Mornings with what that could mean for American's wallets.
U.S. stocks tumble over fears of another Fed rate hike
Investors and economists are bracing for another possible interest rate hike as the Federal Reserve is set to meet this week. Dion Rabouin, a reporter for the Wall Street Journal, joins CBS News to discuss what another hike could mean for the U.S. economy.
Consumer confidence index falls again
The Conference Board's consumer confidence index fell for the third straight month in July as inflation and interest rate hikes discourage spending. Steve Odland, president and CEO of The Conference Board, speaks with CBS News' Tanya Rivero and Lana Zak about why consumers are worried.
White House braces for economic indicators
Major financial reports are due out this week that are expected to give an idea of the direction the U.S. economy is headed, as President Biden continues to recover from his COVID-19 infection. CBS News chief White House correspondent Nancy Cordes spoke with Vladimir Duthiers and Jericka Duncan about when the president could come out of isolation and what to expect on the economic front.
Stocks sink after weak profit report from Walmart
Weak profit reports from some of the biggest names in corporate America are souring the mood of investors.
Biden's COVID-19 symptoms almost gone, doctor says
President Biden's COVID-19 symptoms have almost completely gone away, his doctor said. CBS News political correspondent Caitlin Huey-Burns joins CBS News' Lana Zak to discuss Biden's condition, plus the White House's response to monkeypox, the upcoming GDP numbers and the semiconductor chips bill.
7/25: CBS News Mornings
Oak Fire grows in California, forcing thousand to evacuate near Yosemite; Pope Francis will meet with Indigenous groups in Canada and apologize for abuse at schools
Americans cash in on strong dollar in Europe: "Now is the best time to come"
The U.S. dollar is now the strongest it's been against the euro for two decades — now $1 just about equals 1 euro.
Unemployment applications reach 8-month high
The U.S. Labor Department's weekly jobs report showed 251,000 Americans filed for jobless benefits in the week ending July 16, marking the highest level in eight months. It raises concerns about a possible recession. Colby Smith, U.S. economics editor for the Financial Times, breaks down what this could mean.
U.S. jobless claim rise in mid-July
The Department of Labor's weekly unemployment report shows there were 251,000 first time applications filed in the week ending July 16. Senior economic analyst and Washington bureau chief at Bankrate.com, Mark Hamrick, joined CBS News' Anne-Marie Green and Vladimir Duthiers with more on what this means for our economy.
Americans filing jobless claims at highest level in 8 months
More than 250,000 people applied for unemployment benefits last week, the highest number since November.
MoneyWatch: Existing home sales fell in June
As mortgage rates rise, the number of homes being sold is dropping. Existing home sales fell 5.4% in June. But housing prices are still still rising and reaching historic levels. Jessica Lautz, vice president of demographics and behavioral insight at the National Association of REALTORS, joins CBS News to discuss the latest housing report.
Sri Lanka lawmakers elect new president
Sri Lanka votes in six-time Prime Minister Ranil Wickremesinghe as president after its former leader fled the country and resigned by email amid the worst economic crisis in the country's history. But the protesters blame the government for the country's financial woes and the election of a former so-called "holdout" from the government comes with some controversy.
7/20: CBS News Mornings
Dangerous heat wave hits U.S. and Europe; Package sizes for products get smaller as companies react to inflation
Home prices in the U.S. climb to record $416,000
But sales of previously occupied homes have slowed sharply amid higher mortgage rates and rising prices.
How to avoid financial fraud and tax scams
CBS News business analyst Jill Schlesinger joins “CBS Mornings” to discuss IRS scams and how to avoid them. She shares red flags to watch for, and how to report them to the government.
CBS Evening News, July 15, 2022
Biden holds controversial meeting with Saudi crown prince; "CBS Evening News" viewers help raise $45,000 for family struggling to afford gas
Goldman Sachs' CEO on small businesses
Goldman Sachs' CEO David Solomon joins “CBS Mornings” with his financial outlook and why the company is trying to get more support for small businesses.
Making sense of the economy amid inflation
Economists were spot on that our post-pandemic recovery will not follow the normal rules. However, we now find ourselves watching inflation skyrocket as fuel prices fall. Derek Thompson, staff writer at the Atlantic, joins CBS News to discuss his latest piece, titled "The Everything-Is-Weird Economy."
Federal Reserve signals possible rate hike
The Federal Reserve is signaling it could again raise interest rates. Matt Luzzetti, senior U.S. economist at Deutsche Bank, speaks with CBS News’ Adriana Diaz on what this could mean for American consumers.
Europe feels pain of soaring fuel costs as Ukraine war drags on
In Italy more people are heading to food banks, while Germans are turning down the AC to prep for energy rationing.
Lindsey Vonn crashes out in women's downhill race at Milano Cortina Games
Lindsey Vonn came out of retirement to compete in the 2026 Milano Cortina Winter Games.
Savannah Guthrie says "we will pay" in new plea for mother's safe return
Savannah Guthrie released a new video on Saturday, saying her family is willing to pay for the safe return of their mother.
Trump throws support behind Nexstar-Tegna broadcast deal he once opposed
Nexstar's acquisition of Tegna would bring together two companies with significant holdings in local broadcast media.
Will Bad Bunny be paid for his Super Bowl halftime performance?
Here's how much Bad Bunny is expected to earn from his halftime performance at Super Bowl LX.
Breezy Johnson wins Team USA's first gold medal of Milano Cortina Games
Breezy Johnson took the lead early on after flying down the mountain in 1:36.10. It is her first-ever Olympic medal.
White House removes Trump post with racist footage of Obamas hours after defending it
The footage is included in a video that promotes false claims that the 2020 presidential election was rigged against Mr. Trump.
Brad Arnold, 3 Doors Down founder and lead singer, dies at 47
Brad Arnold, the founder and lead singer of the 3 Doors Down has died following "his courageous battle with cancer," the rock band announced Saturday on social media.
Washington Post publisher Will Lewis resigns just days after paper enacts mass layoffs
Will Lewis, CEO and publisher of the Washington Post, has resigned just three days after the storied newspaper laid off about one-third of its staff.
Nancy Pelosi to endorse Jack Schlossberg in New York congressional race
Former House Speaker Nancy Pelosi plans to endorse Jack Schlossberg, John F. Kennedy's grandson, a source familiar confirmed to CBS News.
U.S.
More U.S.
How many Super Bowls have the Seahawks won?
As the Seahawks prepare to face the Patriots in the 2026 Super Bowl, here's what to know about Seattle's past appearances, wins and losses.
Looking back at all of the Patriots' past Super Bowl victories and appearances
The New England Patriots are back in the Super Bowl once again in 2026, hoping to add another ring to their list of wins. Here's a look back at their appearances, losses, how many they've won, and more.
Where you can watch the 2026 Super Bowl live today
Not sure where to watch the 2026 Super Bowl live? There are multiple ways to watch the game for free today. Here's how.
Will Bad Bunny be paid for his Super Bowl halftime performance?
Here's how much Bad Bunny is expected to earn from his halftime performance at Super Bowl LX.
Did a popular acne medication drive a Texas teen to shoot his friends?
Connor Hilton, 17, said that after taking Accutane, a prescribed acne medication, he began to have suicidal and homicidal thoughts – thoughts that, his defense argued, led him to shoot two friends in the head at his Friendswood, Texas, home. Prosecutors weren't convinced.
MoneyWatch
More MoneyWatch
Will Bad Bunny be paid for his Super Bowl halftime performance?
Here's how much Bad Bunny is expected to earn from his halftime performance at Super Bowl LX.
Washington Post publisher Will Lewis resigns just days after paper enacts mass layoffs
Will Lewis, CEO and publisher of the Washington Post, has resigned just three days after the storied newspaper laid off about one-third of its staff.
Trump throws support behind Nexstar-Tegna broadcast deal he once opposed
Nexstar's acquisition of Tegna would bring together two companies with significant holdings in local broadcast media.
Exclusive
Lutnick and Epstein were in business together, Epstein files show
Though the commerce secretary has called his interactions with Epstein as "limited," the two were in business together four years after Epstein's 2008 guilty plea.
Dow crosses 50K for first time as stocks enjoy best day since May 2025
Resurgent technology stocks drove the rebound after a volatile week, while bitcoin also recouped losses.
Politics
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Nancy Pelosi to endorse Jack Schlossberg in New York congressional race
Former House Speaker Nancy Pelosi plans to endorse Jack Schlossberg, John F. Kennedy's grandson, a source familiar confirmed to CBS News.
Trump throws support behind Nexstar-Tegna broadcast deal he once opposed
Nexstar's acquisition of Tegna would bring together two companies with significant holdings in local broadcast media.
Some Team USA athletes speak out about politics at home
Skier Chris Lillis said he was "heartbroken about what's happened in the United States," while skater Amber Glenn said she "will not just be quiet."
Zelenskyy says U.S. gave Ukraine, Russia a deadline for agreement to end war
If the June deadline is not met, the Trump administration will likely put pressure on both sides to meet it, Zelenskyy told reporters.
Appeals court endorses Trump policy of denying bond hearings to many ICE detainees
A federal appeals court on Friday endorsed the Trump administration's policy of holding broad groups of immigration detainees without access to bond hearings, a major legal victory for President Trump.
HealthWatch
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Her deadly diagnosis only had 1 warning sign. Here's how she survived.
Becca Valle, then 37, enrolled in a cutting-edge clinical trial after surgery removed an aggressive tumor from her brain.
California urges avoiding wild mushrooms after deaths, liver transplants
More than three dozen cases of death cap mushroom poisonings have been reported in California since November, health officials said.
See the 43 drugs available on new discounted drug site TrumpRx
Here's what to know about TrumpRx, including how it works, who can use it, and how much money it can save.
White House launches TrumpRx discounted drug site
The Trump administration launched its new TrumpRx direct-to-consumer prescription drug listing site late Thursday, part of a push to offer medication at steep discounts.
Officials warn against drinking raw milk after baby dies from listeria
The New Mexico Department of Health said officials believe the baby contracted listeria after their mother drank raw milk during pregnancy.
World
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Breezy Johnson wins Team USA's first gold medal of Milano Cortina Games
Breezy Johnson took the lead early on after flying down the mountain in 1:36.10. It is her first-ever Olympic medal.
Lindsey Vonn crashes out in women's downhill race at Milano Cortina Games
Lindsey Vonn, who came out of retirement to compete in the 2026 Milano Cortina Winter Games, was airlifted off the mountain.
Ilia Malinin stunned by Yuma Kagiyama in Olympic figure skating short program
The U.S. ended Saturday in first place with 44 points. Japan was five points back going into the men's, women's and pairs free skates to decide the medals Sunday.
Jake Paul joins JD Vance to watch U.S. women's hockey team at Olympics
The U.S. women's hockey team eased to a 5-0 win over Finland on Saturday afternoon.
Italy nabs first gold medal of Milano Cortina Olympics in speedskating upset
Francesca Lollobrigida set a new Olympic record of 3 minutes, 54.28 seconds, shaving more than two-and-a-half seconds off the mark set by Dutch legend Irene Schouten four years earlier in Beijing.
Entertainment
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Bad Bunny's Super Bowl role breaks barriers and sparks debate
Reactions poured in when Bad Bunny was named Super Bowl halftime headliner, with some praising and others criticizing the choice.
Who's singing the national anthem at the Super Bowl? All about Charlie Puth
Charlie Puth has called the national anthem "one of the most beautiful pieces of music." But he's also described it as "the hardest to sing."
Brad Arnold, 3 Doors Down founder and lead singer, dies at 47
Brad Arnold, the founder and lead singer of the 3 Doors Down has died following "his courageous battle with cancer," the rock band announced Saturday on social media.
Who's performing at the Super Bowl halftime show? Here's the full list
Bad Bunny is set to take the stage at halftime for the 2026 Super Bowl. Here's who else is performing at Super Bowl 60.
Twisted Sister cancels reunion shows as frontman Dee Snider resigns
Lead singer and frontman Dee Snider said he suffers from degenerative arthritis and has had several surgeries over the years.
Technology
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Super Bowl fans warned to leave drones at home amid flight ban
The FAA says it is collaborating with the FBI to detect, track and assess unauthorized drone activity at the Super Bowl.
Ukrainian military drone simulator adapted for video gamers in world first
Gamers across the world can now recreate drone strikes in Ukraine from the comfort of their own home, with this newly released game.
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.
How will AI transform the workforce?
CBS News business analyst Jill Schlesinger talks about how companies are using artificial intelligence, the discussion around the technology and how it's impacting the workforce.
Tesla, Waymo leaders defend product safety
Executives from Waymo and Tesla defended their self-driving vehicle technology in testimony before the Senate Commerce Committee on Wednesday. CBS News' Kris Van Cleave reports and Ian Krietzberg, an AI correspondent at the digital media company Puck, has more.
Science
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Scientists "quite surprised" to find one polar bear population thriving
After decades monitoring polar bears in Norway's far north, researchers say the animals have proven incredibly adaptable, but there are no guarantees for the future.
Mysterious dark matter seen in new map of distant galaxies
Dark matter doesn't absorb or give off light so scientists can't study it directly. But they can observe how its gravity warps and bends the star stuff around it.
Cow develops technique to scratch herself
"CBS Saturday Morning" learns more about Veronika, the clever cow who figured out multiple ways to scratch herself with a broom. It was the first time a cow was seen using a tool.
Almanac: January 18
"Sunday Morning" looks back at historical events on this date.
Fossils found at Dinosaur National Monument, first excavation in 100 years
The Dinosaur National Monument, which is located on the border between Colorado and Utah, was last excavated in 1924.
Crime
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Did a popular acne medication drive a Texas teen to shoot his friends?
Connor Hilton, 17, said that after taking Accutane, a prescribed acne medication, he began to have suicidal and homicidal thoughts – thoughts that, his defense argued, led him to shoot two friends in the head at his Friendswood, Texas, home. Prosecutors weren't convinced.
Latest in Nancy Guthrie disappearance
Authorities said Friday they were inspecting an apparent new message relating to the disappearance of "Today" host Savannah Guthrie's mom, Nancy, after the family reported her missing from her home on Sunday.
Luigi Mangione has outburst after hearing
Luigi Mangione had an outburst after a hearing on Friday in which the judge announced that his New York State trial will begin on June 8. CBS News legal reporter Katrina Kaufman is following the case.
Authorities tow car from Nancy Guthrie's home, investigate new message
Local and federal authorities said "investigators are actively inspecting the information provided in the message for its authenticity" regarding the disappearance of Nancy Guthrie.
Investigators vetting Guthrie ransom note
Friday marked six days since Nancy Guthrie's apparent abduction, and Guthrie's three children have been posting on social media hoping to reach whoever may have taken her. CBS News' Andres Gutierrez reports and former FBI counterintelligence operative Eric O'Neill has more.
Space
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Space
What led NASA to delay Artemis II launch
NASA's first crewed moon mission in more than 50 years has been delayed until March at the earliest. During a routine dress rehearsal of the launch, persistent liquid hydrogen leaks were discovered in the Artemis II rocket. CBS News space consultant Bill Harwood breaks it down.
NASA hopes to fix Artemis II moon rocket leak with on-pad repair
NASA plans to test the planned leak repair with a second dress rehearsal fueling test later this month.
NASA delays Artemis II launch
NASA delayed the Artemis II moon rocket launch after a hydrogen leak was found during a wet dress rehearsal, the agency announced Tuesday. CBS News senior space consultant Bill Harwood has the latest.
NASA begins mission to map the boundaries of our heliosphere
A NASA mission is underway to map the heliosphere, which is a huge protective bubble around the solar system that was created by the sun.
NASA moon launch off until March due to issues during tests
NASA says it can't try until March at the earliest to send a crewed spacecraft on a flight around the moon and back, due to hydrogen leaks during testing of the Artemis II rocket.
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.
Evidence in the Barbara Kendhammer case
Does the evidence show a cover-up, or was Todd Kendhammer wrongfully convicted for the murder of his wife?
The life & near death of prizefighter Christy Salters-Martin
Christy Salters-Martin dominated in the boxing ring but faced her toughest challenger at home.
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
The Rx Defense
A Texas teenager shoots two of his friends. He says a popular acne medication made him do it. "48 Hours" correspondent Tracy Smith reports.
Diving into Hilary Knight career at final Olympics
Ice hockey forward Hilary Knight showed the world why she's one of the greatest players ever. With her 14th goal, the captain of Team USA moved into a tie for the most goals scored by a U.S. Women's hockey player at the Winter Olympics. Andres Gutierrez reports on her career and her last Olympic run.
Levi's aims to share their story at their stadium
The countdown is on for the big game between the Seattle Seahawks and the New England Patriots. Kris Van Kleave is outside what's been called the Field of Jeans.
What to know after first full day of the Olympics
Saturday marked the first full day of the Olympic Winter Games in Italy. Switzerland took the first gold medal in men's downhill skiing. In all, five medal events were held, but no gold yet for Team USA. Seth Doane has the latest details from Cortina, Italy.
Fallout over Epstein files escalates in the U.K.
The political fallout in Britain following the latest Epstein documents release became so intense that on Saturday, there were growing calls for the U.K.'s prime minister to step down.