Stocks plunge as inflation soars at fastest pace in 4 decades
May surge in consumer prices raises odds that the Fed will continue to sharply hike interest rates.
Economy
Soaring gas prices impact American drivers
The price of gas hit another all-time high as the national average nears $5 a gallon. Carter Evans has more on how it's affecting small business owners.
Biden hosts Day 2 of Summit of the Americas
President Biden is in Los Angeles to host leaders for the Summit of the Americas. CBS News senior White House and political correspondent Ed O'Keefe joined Anne-Marie Green and Vladimir Duthiers with a look at what we can expect.
Stocks slide as investors fret about inflation
Dow dives more than 600 points as central bankers struggle to contain spiraling food, energy and other prices.
Mortgage rates jump again, sending buyers to the sideline
Interest on a standard 30-year home loan is 5.23%, up from less than 3% a year ago, according to Freddie Mac.
Stocks fall as trading wobbles along with investor confidence
Trading remains choppy as investors try to determine how rising interest rates and inflation will impact economy.
Smaller boxes in cereal aisle? Say hello to shrinkflation.
Manufacturers are again downsizing packaging in an effort to ease the hit from inflation. Are they going too far?
OECD: War in Ukraine will drag down global economy
"The war could spark starvation. It could cause social unrest and political turmoil," OECD chief economist said.
U.S. gas prices hit record-high
Americans are paying record-high prices for gasoline as the summer travel season kicks off. CBS News correspondent Carter Evans has more on the rising gas prices. Then, John Leer, the chief economist for Morning Consult, joins Lana Zak on CBS News to discuss the U.S. economy and more.
Soaring gas prices hit new record
The national average for a gallon of gas hit $4.91. In 13 states, it's above $5 a gallon. Carter Evans has more.
Gas prices soar to new record highs
Gas prices have once again soared to a new record high. The national average for a gallon of gas is now $4.92. That’s up nearly $2 from the same time last year. CBS News correspondent Carter Evans is in Los Angeles, which has some of the nation’s highest gas prices. He joins Tanya Rivero and Elaine Quijano for more on this.
5 credit card perks that can help you fight inflation
Whether your goal is to pay off debt or save money, credit cards offer rewards and benefits that can make a difference.
Target's shares tumble after cutting orders amid inventory glut
Americans have pivoted from pandemic spending, faster than some retailers expected. Target shares tumbled in pre-market trading.
Summit of the Americas kicks off in Los Angeles
The United States is hosting the Summit of the Americas in Los Angeles. The gathering includes world leaders from across North, South and Central America. Eric Farnsworth, the vice president of Council of the Americas, joined CBS News' Lana Zak to discuss the summit.
Open: This is "Face the Nation with Margaret Brennan," June 5
This week on “Face the Nation with Margaret Brennan,” we try to understand what the country wants to see happen when it comes to new gun control laws in the wake of the Uvalde and Buffalo shootings. Plus, a look at the state of the economy and a preview of the Jan. 6 hearings.
Stocks close down despite upbeat jobs report
The U.S. added 390,000 jobs in May and unemployment remained flat at 3.6%, according to the latest jobs report from the Labor Department, but stocks closed the week in the red. CBS News' Elaine Quijano spoke with Lori Bettinger, president of BancAlliance and former director of the federal Troubled Asset Relief Program, about how this affects your paycheck.
This week on "Face the Nation with Margaret Brennan," June 5, 2022
Rep. Adam Schiff, Sen. Pat Toomey, Dr. Walter J. Koroshetz and more appear on "Face the Nation with Margaret Brennan" this Sunday.
Biden responds to Elon Musk's economic doubts
President Biden on Friday responded to Elon Musk's recent doubts about the U.S. economy, saying he wished the Tesla CEO "lots of luck on his trip to the moon." According to Reuters, Musk said in an email to Tesla executives Thursday he has a "super bad feeling" about the economy and he said in an email to employees Friday that he'll be cutting about 10% of workers.
U.S. employers added 390,000 jobs in May
U.S. employers added 390,000 jobs in May, according to the Bureau of Labor Statistics. The unemployment rate stayed at 3.6% for the third straight month. Senior economist at Glassdoor, Daniel Zhao, joined CBS News' Anne-Marie Green and Vladimir Duthiers with reaction to these latest figures.
Musk reportedly wants to cut 10% of Tesla workforce
Tesla shares fell more than 7% on a report the CEO is considering layoffs over a "super bad feeling" about the economy.
Jamie Dimon: Interest rates, war will cause economic "hurricane"
It won't necessarily be a recession, but expect a rocky road ahead, warns the JPMorgan Chase CEO.
U.S. strengthens trade ties with Taiwan
The Biden administration has announced new trade initiatives with Taiwan to strengthen economic ties, focusing on supply chains, clean energy, labor rights and technology exports. Tensions between Washington and Beijing are already high after President Biden promised to defend Taiwan if it was invaded. Shelley Rigger, a political science professor at Davidson University, joined CBS News' Elaine Quijano to discuss.
Parents facing mounting stress
Issues like the COVID-19 pandemic, an unstable economy and fear of violence are causing more parents anxiety. Dr. Howard Stevenson joins "CBS News Mornings" with more insight and information to help cope.
5/31: Red and Blue
Congress discussing bipartisan gun control bills; Biden looks to curb inflation
Layoffs hit 20-year low in April as job market stayed tight
The white-hot demand for U.S. workers cooled a bit in April, though the number of unfilled jobs remains high.
Federal agents involved in Pretti shooting placed on administrative leave, source says
The federal agents who were involved in Saturday's deadly shooting of Alex Pretti in Minneapolis have been placed on administrative leave, a federal law enforcement official confirmed to CBS News.
Analysts say Starlink may have guided Russian drones into a Ukrainian train
As Ukraine accuses Russia of terrorism with a deadly strike on a train, some defense analysts believe Elon Musk's Starlink may have guided the killer drones.
Dozens confirmed dead as extreme cold continues to grip much of U.S.
The death toll continues to rise from a massive winter storm that left an ongoing spell of freezing weather in its wake.
Rubio: U.S. doesn't expect to take further military action in Venezuela "at any time"
Secretary of State Marco Rubio testified before Congress about Nicolás Maduro's capture and the future of Venezuela, and also fielded questions about Iran and Greenland.
FBI executing search order at Fulton County elections hub
FBI agents are executing a search at a warehouse that serves as Fulton County's election hub.
Senate Democrats release demands as clock ticks toward partial government shutdown
Senate Democrats released their list of demands to reform immigration enforcement and fund the government Wednesday, with little time to avert a partial government shutdown.
CBS Boise chief meteorologist Roland Steadham killed in plane crash
Roland Steadham and one other person were aboard a small plane that crashed into the icy Payette River on Tuesday.
Fed holds interest rates steady in first meeting of 2026
The Federal Open Market Committee kept the federal funds rate steady, following three rate cuts last year.
Texas man slated to be first person executed in U.S. this year, for double murder
A Texas man is slated to be first person executed in U.S. this year, for killing his ex-girlfriend and her new boyfriend. At one point he escaped for three days.
U.S.
More U.S.
Senate Democrats release demands as clock ticks toward partial government shutdown
Senate Democrats released their list of demands to reform immigration enforcement and fund the government Wednesday, with little time to avert a partial government shutdown.
Bank of America, JPMorgan Chase to contribute $1,000 to Trump Accounts
Two of the biggest U.S. banks said they would match a $1,000 federal contribution for employees who open a Trump Account, touting the plan as a way to save money.
Fed holds interest rates steady in first meeting of 2026
The Federal Open Market Committee kept the federal funds rate steady, following three rate cuts last year.
Federal agents involved in Pretti shooting placed on administrative leave, source says
The federal agents who were involved in Saturday's deadly shooting of Alex Pretti in Minneapolis have been placed on administrative leave, a federal law enforcement official confirmed to CBS News.
Dozens confirmed dead as extreme cold continues to grip much of U.S.
The death toll continues to rise from a massive winter storm that left an ongoing spell of freezing weather in its wake.
MoneyWatch
More MoneyWatch
Bank of America, JPMorgan Chase to contribute $1,000 to Trump Accounts
Two of the biggest U.S. banks said they would match a $1,000 federal contribution for employees who open a Trump Account, touting the plan as a way to save money.
Fed holds interest rates steady in first meeting of 2026
The Federal Open Market Committee kept the federal funds rate steady, following three rate cuts last year.
Are Trump's tariffs fueling a boom in trade deals for China and India?
As Trump's unpredictable tariff tactics prompt longtime U.S. trade partners to find alternatives, India and China seem happy to step in and get deals done.
Apple's Tim Cook calls for "de-escalation" after Alex Pretti's killing
Cook is joining other CEOs in weighing in on federal immigration enforcement following Pretti's killing on Jan. 24.
What TikTok wants to know about you now that it's in U.S. hands
Some TikTok users are raising questions about the app's new terms and conditions after the social media platform's split from its China-based parent.
Politics
More Politics
Senate Democrats release demands as clock ticks toward partial government shutdown
Senate Democrats released their list of demands to reform immigration enforcement and fund the government Wednesday, with little time to avert a partial government shutdown.
Federal agents involved in Pretti shooting placed on administrative leave, source says
The federal agents who were involved in Saturday's deadly shooting of Alex Pretti in Minneapolis have been placed on administrative leave, a federal law enforcement official confirmed to CBS News.
FBI executing search order at Fulton County elections hub
FBI agents are executing a search at a warehouse that serves as Fulton County's election hub.
9 anti-ICE protesters arrested at Sen. Collins' Portland office
Police arrested nine people who were protesting against ICE at Sen. Susan Collins' Portland, Maine office.
Former law enforcement trainer sees "unanswered questions" in Alex Pretti's shooting
A former federal law enforcement trainer says the fatal shooting of Alex Pretti by U.S. Customs and Border Protection officers raises serious concerns about their tactical decision-making and use of force.
HealthWatch
More HealthWatch
South Carolina measles outbreak now larger than Texas' in 2025, new data shows
South Carolina's measles outbreak has grown to include 789 cases. A West Texas outbreak last year sickened 762 people.
Trump policies at odds with emerging understanding of COVID's long-term harm
Studies offer insights into the health risks and burdens faced by people who have had COVID infections. Meanwhile, the Trump administration has narrowed COVID vaccine recommendations and cut research.
Pediatrics group releases vaccine recommendations, breaks with CDC
The AAP is recommending immunization against 18 diseases. Earlier this month, the CDC reduced its recommendations for childhood vaccines to 11 diseases.
Academy of Pediatrics vaccine reccomendations
The American Academy of Pediatrics released its own recommendations for childhood vaccinations Monday. The list differs significantly from the reduced vaccine schedule released earlier this month by the CDC. Dr. Amanda Kravitz, pediatrician at Weill Cornell in New York City, joins CBS News to discuss.
Winter storm brings warnings about heart attack risk of shoveling snow
Cardiologists say shoveling snow can increase a person's risk of experiencing a heart attack.
World
More World
Ancient species that survived mass extinction event found in China
The fossils offer a rare glimpse into a cataclysmic event that brought a sudden end to the greatest explosion of life in our planet's history.
Analysts say Starlink may have guided Russian drones into a Ukrainian train
As Ukraine accuses Russia of terrorism with a deadly strike on a train, some defense analysts believe Elon Musk's Starlink may have guided the killer drones.
Colombian security forces kill 5 members of powerful cocaine cartel
President Donald Trump is set to host Gustavo Petro at the White House for talks on combatting drug trafficking from Colombia, the world's top cocaine producer.
Are Trump's tariffs fueling a boom in trade deals for China and India?
As Trump's unpredictable tariff tactics prompt longtime U.S. trade partners to find alternatives, India and China seem happy to step in and get deals done.
Australia kills wild dogs linked to death of woman, sparking backlash
Australian authorities said six wild dogs were put down after 19-year-old backpacker Piper James's body was found at a beach on the island of K'gari.
Entertainment
More Entertainment
Bruce Springsteen releases new song, "Streets of Minneapolis"
Bruce Springsteen has released a song in honor of Alex Pretti and Renee Good titled "Streets of Minneapolis."
Peyton List on new season of "School Spirits"
Peyton List, who stars in the series "School Spirits" talks to "CBS Mornings" about the show's third season, her desire for her character to get closure and performing in off-Broadway's "Heathers The Musical."
Rosé opens up about success, self-doubt
Singer Rosé is the first K-pop star to have a song nominated in the Grammy's main categories, including record of the year and song of the year. She spoke to "CBS Mornings" about why she's still coming to terms with her success.
Natalia Lafourcade reflects on music career
Natalia Lafourcade is the most awarded woman in Latin Grammy history with 20 awards. This year, she's up for best Latin pop album at the Grammys, which would be her fifth Grammy if she wins. Lafourcade spoke to Anthony Mason about her music journey and rise to fame.
Ye, formerly Kanye West, reveals brain injury, apologizes for antisemitic remarks
In a full-page ad in the Wall Street Journal, Ye, the artist formerly known as Kanye West, revealed that the right frontal lobe of his brain was injured in a car accident 25 years ago.
Technology
More Technology
Analysts say Starlink may have guided Russian drones into a Ukrainian train
As Ukraine accuses Russia of terrorism with a deadly strike on a train, some defense analysts believe Elon Musk's Starlink may have guided the killer drones.
What TikTok wants to know about you now that it's in U.S. hands
Some TikTok users are raising questions about the app's new terms and conditions after the social media platform's split from its China-based parent.
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.
Newsom launches probe into TikTok
The new American version of TikTok is under scrutiny as some users claim the app is suppressing anti-ICE or anti-Trump content. Now, California Gov. Gavin Newsom is launching an investigation into the complaints. CBS News MoneyWatch correspondent Kelly O'Grady reports.
Social media addiction case begins
A jury selection began on Tuesday in a landmark trial over alleged social media addiction. TikTok reached a late-night agreement Monday to settle the case. Stuart Benjamin, a professor at Duke Law School, breaks it down.
Science
More Science
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.
Dogs can learn by eavesdropping: study
Have you ever wondered if your dog is eavesdropping on you? A new study published in the Journal of Science found that some dogs are not only listening, but are also learning words. Lead scientist Dr. Shany Dror joins CBS News to discuss.
Crime
More Crime
Crime
Details on man who charged at Rep. Omar
More details are emerging about 55-year-old Anthony Kazmierczak, the man detained after charging at Minnesota Rep. Ilhan Omar during a town hall meeting on Tuesday. CBS News' Ian Lee reports.
Colombian security forces kill 5 members of powerful cocaine cartel
President Donald Trump is set to host Gustavo Petro at the White House for talks on combatting drug trafficking from Colombia, the world's top cocaine producer.
Man to be sentenced for Iranian's murder plot
CBS News contributor Masih Alinejad is expected in court to face the man convicted of plotting to kill her. CBS News' Katrina Kaufman reports.
New details in shooting of Indiana judge
Authorities say the shooting of an Indiana judge and his wife in their home was a gang attack and a planned assassination attempt. Five people were arrested last week and charged in the shooting. Jericka Duncan reports.
Government report on Alex Pretti shooting
A U.S. Customs and Border Protection report shared with Congress does not mention Alex Pretti reaching for his firearm before he was killed, as alleged by Trump administration officials. CBS News' Matt Gutman reports.
Space
More Space
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.
More on Virgin Galactic all-female space crew
Virgin Galactic is sending an all-female research team to space. Kellie Gerardi, who is leading the crew, joins "CBS News 24/7 Mornings" to discuss the goals of the mission.
NASA's Artemis II mission clears big hurdle
Inch by inch, NASA's Artemis II moon rocket lumbered along its four-mile commute from the Vehicle Assembly Building to launch pad 39-B. Mark Strassmann is at the Kennedy Space Center in Florida with more.
NASA hauls Artemis II moon rocket to launch pad for February flight
Four Artemis II astronauts plan to fly around the moon and back next month, traveling farther from Earth than any humans before them.
NASA begins Artemis II rollout to launchpad
NASA is beginning its rollout of its Space Launch System rocket and Orion spacecraft as preparations for the Artemis II mission enter their final stage.
Latest Galleries
More Latest Galleries
Notable Deaths in 2025
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
Bessent hits back on Trump accounts criticism
Treasury Secretary Scott Bessent pushed back on some of the "terrible criticism" the Trump Accounts have received, including that it could widen the wealth gap in America. "It's just because President Trump has sponsored it, they don't agree with it," Bessent told "CBS Saturday Morning" co-host Kelly O'Grady.
Bessent defends DOJ probe into Fed chair
Treasury Secretary Scott Bessent told "CBS Saturday Morning" co-host Kelly O'Grady that the Justice Department's investigation into Federal Reserve Chairman Jerome Powell should indicate to future Fed chairs that "independence does not mean no accountability." "The Fed has a very special relationship with the American people because it is the most powerful, unappointed group in the U.S.," Bessent said.
FBI searching Georgia election office
FBI agents are executing a search warrant at an election office in Fulton County, Georgia. CBS News correspondent Skyler Henry reports.
Bruce Springsteen releases ICE protest song
Bruce Springsteen has released a new protest song about ICE in Minneapolis, dedicating it to Alex Pretti and Renee Good. CBS News correspondent Shanelle Kaul has more.
Man gets 15 years for Iran activist murder plot
A man who was convicted in a murder-for-hire plot against Iranian activist Masih Alinejad was sentenced Wednesday to 15 years in prison. CBS News legal reporter Katrina Kaufman and Alinejad, now a CBS News contributor, share their reactions.