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.
Economy
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.
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.
FlyDubai co-pilot was likely lone wolf, Israeli investigators believe
Only On CBS
The Alito Court: A rare interview with the influential Supreme Court justice
Key Biden aide recalls "draconian measures" being considered against Israel
CBS News poll finds Democrats maintain House advantage amid concern about prices
Hero passenger on FlyDubai flight: "We are going to survive"
Search ongoing after debris of plane that went missing off Nantucket found
U.S. Marine arrested, accused of killing Japanese woman in Okinawa
Live
Senior Trump administration officials met to discuss Iran war at Camp David
