Mortgage rates in the U.S. jump by most in 35 years
Borrowing costs for a typical home loan surged a day after the Federal Reserve hiked its benchmark rate.
Economy
The Fed announces aggressive interest rates
The Federal Reserve intensified its fight against high inflation Wednesday by raising the interest rate by 0.75%, the largest increase since 1994. The rate hike signals more hikes ahead as it tries to slow the economy without causing a recession. Carter Evans reports.
Anger brews over official's call for Pakistanis to drink less tea
The government minister's suggestion on how to people might help to ease Pakistan's economic crisis didn't go down well.
6/15: Red and Blue
Biden pushes oil companies on gas production; FDA panel supports COVID vaccine for kids under 5
Biden calls out oil companies as gas prices soar
President Biden sent letters to several U.S. oil companies Wednesday, asking them to do more to reduce the price of gas. Zeke Miller, a CBS News political contributor and White House reporter for the Associated Press, joined Matt Pieper to discuss the issue.
Fed issues largest rate hike in decades
The Federal Reserve issued its largest interest rate hike in nearly three decades as it tries to slow the economy without causing a recession. Carter Evans has more on what that means.
Fed hikes key interest rate 0.75 percentage points as it battles inflation
"Inflation is much too high," Fed Chair Jay Powell said of the U.S. central bank's largest rate hike since 1994.
Fed to consider aggressive action amid high inflation
An expected interest rate hike comes as everything from gas and food to air travel have seen the largest annual increase in decades. Interest rate hikes could potentially create more economic pain for consumers by increasing borrowing costs and discouraging spending. Meg Oliver reports.
Stocks sink as index enters bear market
U.S. stocks are down this week in response to rising inflation and recession concerns. Melissa Armo, a professional trader and the founder and owner of The Stock Swoosh, spoke with "CBS News Mornings" about the stock index entering bear market territory and what that means for the economy.
How to manage investments in a bear market
Making the right moves with your investments and retirement plan is key when the stock market is in free fall like it has been. Joe Saluzzi, partner and co-founder of Themis Trading spoke to Anne-Marie Green and Vladimir Duthiers on CBS News about what to do with your portfolio.
S&P 500 reaches bear market
After weeks of turmoil, the S&P 500 closed in bear market territory on Monday for the first time since the beginning of the pandemic. Naomi Ruchim joins "CBS News Mornings" to break down the impact we're seeing on the economy.
Biden set to make remarks on U.S. economy
The president travels to Philadelphia today and is expected to comment on the country's economy as stocks fall into a bear market. CBS News Chief White House correspondent Nancy Cordes joins CBS News Mornings with more analysis.
Economy expert on stock market slump
Wall Street has entered a bear market, but experts warn you shouldn't do anything rash. CBS News Business Analyst Jill Schlesinger spoke to Anne-Marie Green and Vladimir Duthiers on CBS News about how to handle your finances in a down market, and what's to blame for plummeting prices.
Stocks continue to fall, a day after S&P enters bear market
Volatility follows Monday's turmoil which brought panic among many worried about their 401(k) retirement savings.
5/15: Face The Nation
This week on “Face the Nation with Margaret Brennan,” we have the latest on the deadly shooting in Buffalo, New York, with Mayor Byron Brown and Gov. Kathy Hochul. Plus, the latest from Ukraine, and a look ahead to Tuesday’s Republican primary in Pennsylvania.
Average gas prices top $5 for first time ever
For the first time ever, the average price for a gallon of gas in the U.S. is above $5. And many in America are feeling the squeeze well beyond the pumps. Lilia Luciano reports from Los Angeles.
Inflation soars to 40-year high
President Biden addressed the inflation crisis in a briefing at the Port of Los Angeles Friday. CBS News senior White House and political correspondent Ed O'Keefe reports.
U.S. inflation surging at fastest pace in 40 years
Prices are skyrocketing as inflation is surging at its fastest pace in more than 40 years. Rampant inflation is hitting America's pocketbooks, but it's also impacting President Biden, as surveys show Americans see it as the nation's top problem. Ed O'Keefe has the latest.
High inflation hampers summer travel plans
Vacation inflation is hitting summer travelers. Airfare, hotel and rental car costs have skyrocketed compared to recent years. Kris Van Cleave takes a look.
This week on "Face the Nation with Margaret Brennan," June 12, 2022
Rep. Adam Kinzinger, Dr. Jillian Peterson, Dr. James Densley of The Violence Project and more appear on "Face the Nation with Margaret Brennan" this Sunday.
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.
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.
Live
Israel-Lebanon ceasefire extended by 3 weeks, Trump says
The announcement followed a second round of peace talks in Washington.
U.S. special forces soldier who won $409K on Maduro bet is arrested
The soldier allegedly bet on Nicolás Maduro's removal as president of Venezuela before news of the raid was reported, a law enforcement source told CBS News.
Trump says he'll resurface Lincoln Memorial Reflecting Pool, turning it blue
President Trump's renovation kick has now reached the Lincoln Memorial Reflecting Pool.
1 killed, 5 injured and 5 in custody in shooting at Mall of Louisiana, police say
Police said the shooting appeared to have happened after two groups of people got into an argument in the mall's food court.
DOJ office aiding indigent immigrants stalls after lawyers were reassigned
Attorneys for a DOJ program that accredits nonprofits to help provide legal help to immigrants were transferred last month, creating setbacks for a number of legal aid groups.
Air travel prices likely to get worse in coming weeks, Chevron CEO says
Travelers could see airline fares rise and fewer flights available in the coming weeks, Chevron CEO Mike Wirth said in an interview with "Face the Nation with Margaret Brennan."
Trump confirms he's weighing a taxpayer takeover of Spirit Airlines "for the right price"
President Trump said Thursday that he was weighing a taxpayer-funded takeover of Spirit Airlines with the intent of reselling the struggling budget carrier after oil prices drop.
Former federal prosecutors see legal flaws in DOJ's SPLC indictment
Former federal prosecutors think the indictment struggles to articulate the elements of the alleged crimes in the case, a problem that could lead to its full or partial dismissal.
2 missing USF doctoral students are now considered endangered, police say
Zamil Limon and Nahida Bristy, both 27, were last seen in the Tampa area on April 16, the University of South Florida Police Department said. Loved ones say their disappearances are out of character and they're concerned.
U.S.
More U.S.
Oklahoma tornado destroys homes, forces Air Force base to close
A powerful tornado in Oklahoma on Thursday ripped roofs off buildings, destroyed homes, knocked down power poles and forced an Air Force base to close.
Trump confirms he's weighing a taxpayer takeover of Spirit Airlines "for the right price"
President Trump said Thursday that he was weighing a taxpayer-funded takeover of Spirit Airlines with the intent of reselling the struggling budget carrier after oil prices drop.
DOJ office aiding indigent immigrants stalls after lawyers were reassigned
Attorneys for a DOJ program that accredits nonprofits to help provide legal help to immigrants were transferred last month, creating setbacks for a number of legal aid groups.
Planning a summer flight? Book now before prices surge, airline experts say.
"If you haven't booked for this summer, get busy," Atmosphere Research Group Airline industry analyst Henry Harteveldt told CBS News.
US special forces soldier who won $409K on Maduro bet is arrested
The soldier allegedly bet on Nicolás Maduro's removal as president of Venezuela before news of the raid was reported, sources told CBS News.
MoneyWatch
More MoneyWatch
Planning a summer flight? Book now before prices surge, airline experts say.
"If you haven't booked for this summer, get busy," Atmosphere Research Group Airline industry analyst Henry Harteveldt told CBS News.
Air travel prices likely to get worse in coming weeks, Chevron CEO says
Travelers could see airline fares rise and fewer flights available in the coming weeks, Chevron CEO Mike Wirth said in an interview with "Face the Nation with Margaret Brennan."
Only one Trump "gold card" visa has been approved, Lutnick says
The Trump administration started accepting applications in December for foreigners willing to pay $1 million for the right to live in the U.S.
Nearly 208,000 heated socks sold at Costco recalled due to burn injuries
The 32 Degrees Heated Socks can pose a burn risk due to the combination of heat, friction, moisture and pressure created during athletic activities.
Meta to cut 8,000 jobs as it charges into AI
Meta plans to lay off roughly 10% of its workforce as the technology giant steps up its spending on artificial intelligence.
Politics
More Politics
Trump confirms he's weighing a taxpayer takeover of Spirit Airlines "for the right price"
President Trump said Thursday that he was weighing a taxpayer-funded takeover of Spirit Airlines with the intent of reselling the struggling budget carrier after oil prices drop.
DOJ office aiding indigent immigrants stalls after lawyers were reassigned
Attorneys for a DOJ program that accredits nonprofits to help provide legal help to immigrants were transferred last month, creating setbacks for a number of legal aid groups.
US special forces soldier who won $409K on Maduro bet is arrested
The soldier allegedly bet on Nicolás Maduro's removal as president of Venezuela before news of the raid was reported, sources told CBS News.
Trump says he'll resurface Lincoln Memorial Reflecting Pool, turning it blue
President Trump's renovation kick has now reached the Lincoln Memorial Reflecting Pool.
Air travel prices likely to get worse in coming weeks, Chevron CEO says
Travelers could see airline fares rise and fewer flights available in the coming weeks, Chevron CEO Mike Wirth said in an interview with "Face the Nation with Margaret Brennan."
HealthWatch
More HealthWatch
Medigap premiums leap, and consumers have few alternatives
Millions of people rely on the supplemental insurance to offset the deductibles, copayments, and other costs faced by enrollees in the traditional Medicare program.
Food stamp work rules don't increase employment, researchers say
Work requirements will encourage people who are able to work to seek and maintain jobs, proponents say. But researchers haven't found that they lower the unemployment rate.
New CDC pick may face "threat to follow ideology over evidence," ex-official says
Former Trump Surgeon General Dr. Jerome Adams described Dr. Erica Schwartz as a "home run pick."
Trump signs executive order to research psychedelics for mental health
The order will open the door for more research into psychedelic drugs, including ibogaine, sources told CBS News earlier this week.
Mom's labor turns into fight for life after 1 symptom: "I think I'm about to die"
Casey Gould wanted to be a mom her whole life. Her long-awaited pregnancy went smoothly — until she saw something alarming.
World
More World
Tourists rescued from cliff as huge waves inched closer
A group of seven tourists, including three children, became trapped on a cliff when the tide came in during a morning walk on an Australian beach.
Lebanon accuses Israel of war crime in killing of journalist
A journalists' union said rescuers were prevented from accessing the destroyed building where reporter Amal Khalil was left trapped beneath rubble.
U.S. forces board Iran-linked vessel amid tit-for-tat ship interdictions
U.S. forces have intercepted and boarded another "stateless" vessel linked to Iran, the U.S. military says.
Prince Harry implores U.S. to do more for Ukraine during surprise Kyiv visit
Prince Harry made an unannounced visit to Ukraine on Thursday to show his support for the country.
Ecuador to extradite notorious drug gang leader to U.S.
Dario Penafiel, known as "Topo," allegedly worked closely with one of Ecuador's most powerful drug lords, Adolfo Macias, alias "Fito."
Entertainment
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Entertainment
"Survivor" castaway on elimination from game
(Spoilers ahead) "CBS Mornings" speaks with the latest eliminated contestant from "Survivor 50" about exiting the game, strategy and transitioning to the jury.
"Giant" explores Roald Dahl scandal
"Giant," which is now on Broadway, dramatizes a real-life scandal that stained the legacy of world-famous children's author Roald Dahl. Anthony Mason spoke to John Lithgow, who stars in the play, and playwright Mark Rosenblatt.
DiCaprio speaks at 2016 Paris Agreement signing
On April 22, 2016, the U.N. held a signing ceremony for the Paris Agreement, an international treaty aimed at curbing climate change, featuring several speakers from various nations, including actor and environmental activist Leonardo DiCaprio. Watch his full speech from the event.
Donnie Wahlberg talks "Boston Blue" success
Donnie Wahlberg talks about starring in the series "Boston Blue" and the emotional moments he shared with the cast members when he revealed the show was being renewed for a second season. He also discusses if his wife, Jenny McCarthy, could make an appearance on the show.
Vinyl record sales continue resurgence
New data shows interest in vinyl records is only getting stronger, with social media and and special releases from artists like Taylor Swift helping drive the trend. Jarred Hill has more.
Technology
More Technology
Meta to cut 8,000 jobs as it charges into AI
Meta plans to lay off roughly 10% of its workforce as the technology giant steps up its spending on artificial intelligence.
Victim has "nothing left" as AI fuels a surge in crypto fraud schemes
One woman's entire life savings was stolen from her by sophisticated scammers who used artificial intelligence to perfectly manipulate her.
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 to dispose of e-waste this Earth Day
Tuesday marks Earth Day, and if you have any unused devices at home, there are green ways to dispose of them. CNET senior technology reporter Abrar Al-Heeti joins CBS News to discuss.
Meta to track workers' computer use to train AI
Business Insider got a look at an email Meta, the parent company of Facebook, sent to all employees, letting them know that it would start tracking their interactions with their computers to train the company's artificial intelligence. Business Insider tech correspondent Charles Rollet joins to discuss.
Science
More Science
Mysterious "golden orb" found in deep sea in 2023 is finally identified
Scientists spent over two years identifying a mysterious object found off the coast of Alaska in 2023.
Salmon exposed to cocaine swim almost twice as far, study shows
Researchers studied how the drug affected the movements of wild fish in their natural habitats.
Mars rover carries out chemistry experiment never done beyond Earth
"This experiment's never been run before on another world," said Amy Williams, an astrobiologist working on the Curiosity mission.
Cementing a more sustainable alternative to concrete
The process of making 30 billion tons of concrete every year produces more carbon pollution than all the world's ships and planes put together. Now, the North Carolina and Denmark-based Biomason is using biotechnology, including naturally-occurring microbes, to create "biocement" that's just as sturdy but emits much less CO2. David Pogue reports.
Breeding a better bread
Over the past century, the cultivation and processing of wheat has led to strains of grain that are less nutritious, less flavorful, and more vulnerable to climate change. The researchers at Breadlab, at Washington State University, are trying to breed varieties of whole grains that are better for farmers, consumers – and taste buds. David Pogue reports.
Crime
More Crime
Crime
Police stop man before alleged mass shooting
Florida police say they stopped a mass shooting by arresting a man who was on his way to Jazz Fest in New Orleans with a handgun and hundreds of rounds of ammunition. Cristian Benavides has details.
2 rival groups open fire in mall food court
A shooting broke out at a major mall in Baton Rouge, Louisiana, where police said a feud in the food court ended with bullets flying and at least five people in the hospital. Matt Gutman reports.
What to expect from Baton Rouge investigation
At least one person was killed and several others were hurt during a shooting at a mall in Baton Rouge, Louisiana, Thursday. Police have five suspects in custody. CBS News' Anna Schecter has more. Editor's note: CBS News has removed an earlier report in light of new information from Louisiana authorities about the number of people hurt in the shooting.
IRS warns of surge in crypto fraud schemes
IRS investigators say artificial intelligence is fueling a surge in cryptocurrency fraud schemes. CBS News' Anna Schecter has the details.
Police update on Louisiana mall shooting
Police in Baton Rouge say a shooting broke out Thursday at the Mall of Louisiana after an argument between two groups of people. Multiple people were shot.
Space
More Space
Mars rover carries out chemistry experiment never done beyond Earth
"This experiment's never been run before on another world," said Amy Williams, an astrobiologist working on the Curiosity mission.
Blue Origin New Glenn rocket puts satellite payload into wrong orbit
The launching appeared to go off without a hitch, but a problem prevented the rocket's upper stage from putting its payload into the correct orbit.
Artemis II crew on historic moon mission and what it means for Earth
"We are carrying back everything we learned, not only about where we went but ourselves," mission specialist Christina Koch told "CBS Evening News" anchor Tony Dokoupil.
Artemis II astronauts still awed by moonshot experience: "It was otherworldly"
The four Artemis II astronauts struggled to describe the view and overall experience of flying around the moon's far side and witnessing a solar eclipse in deep space.
"God of chaos" asteroid will pass close to Earth in 3 years, NASA says
People on the ground in the Eastern Hemisphere will be able to observe the asteroid with their own eyes, weather permitting, according to NASA.
Latest Galleries
More Latest Galleries
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
Overview of Lori Chavez-DeRemer allegations
Earlier this week, Lori Chavez-DeRemer announced she would leave her post as labor secretary. The news came as multiple outlets reported on an internal investigation into alleged workplace misconduct. CBS News has not independently confirmed the allegations. NOTUS reporter Anna Kramer joins "The Daily Report" to discuss.
4/23: The Takeout with Major Garrett
Trump gives shoot and kill order for boats putting mines in Strait of Hormuz; Chevron CEO expects air travel disruptions due to jet fuel shortage.
What's next for Warner, Paramount Skydance?
Warner Bros. Discovery shareholders voted on Thursday to approve Paramount Skydance's acquisition of the company in a deal valued at roughly $81 billion. Paramount Skydance is the parent company of CBS News. CBS News senior business and tech correspondent Jo Ling Kent reports on the vote and next steps.
Marathon runner loses after celebrating early
A participant in the Delaware Running Festival is going viral after he slowed down to celebrate before crossing the finish line and lost first place. Carson Mello joins CBS News to discuss the moment.
Police department throws dog a retirement party
Dallas Police Corporal Scott Jay has been in some dangerous situations on the job, but nothing like when he and his K-9 were shot. Tony Dokoupil has the story.