Fed discussed how bad it would get
With COVID-19 wreaking havoc on the U.S. economy a year ago, Jerome Powell and his advisors at the Fed considered the possibility of a Great Depression scenario.
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With COVID-19 wreaking havoc on the U.S. economy a year ago, Jerome Powell and his advisors at the Fed considered the possibility of a Great Depression scenario.
The complete text of Scott Pelley's interview with the Federal Reserve chairman.
In a conversation with Scott Pelley about the economic outlook, Powell also commented on the fallout from the Archegos Capital collapse, last year's bailout of money market funds, and the potential development of a U.S. digital dollar.
Federal Reserve Chairman Jerome Powell gives his thoughts on how the economy is rebounding from the COVID-19 pandemic. Scott Pelley reports.
Pelosi, however, batted down the suggestion that the $2 trillion plan be trimmed down to earn Republican support.
House Speaker Nancy Pelosi says Democrats' "hand is extended" to Republicans as Congress prepares to act on President Biden's infrastructure proposal.
CBS News senior national correspondent Mark Strassmann reports from Georgia on COVID-19's impact on the U.S. economy.
Powell spoke with Scott Pelley Wednesday for a report airing tonight on 60 Minutes.
The French have taken to showing national symbols in defiance of the Paris attacks. This is great for flag makers, but as CBS correspondent Elizabeth Palmer reports, much of the rest of the economy is struggling.
U.S. intelligence officials say it was "likely a bomb" that brought down the Russian passenger jet over Egypt, but they can't be entirely sure since they haven't examined the evidence first-hand; tattoos are no longer rare, you can find them in nearly every segment of society
The labor department announced the U.S. economy added 271,000 jobs last month, the strongest growth so far this year. Unemployment dropped to five percent, the lowest since 2008. Now that salaries are starting to go up, new employee perks are being offered as well. Jill Schlesinger has a report.
Now that 271,000 jobs were created in October and unemployment has dropped to five percent, Anthony Mason discusses how the good news may push interest rates up.
President Biden unveiled the first part of his multi-trillion dollar economic agenda this week, announcing $2 trillion for upgrading America's infrastructure. Jacob M. Schlesinger, a senior Washington correspondent for the Wall Street Journal, discusses Biden's unique approach to the plan.
In a first for a major economy, China has created its own form of digital currency. Some economists say this will boost the yuan's global presence and also potentially weaken the dollar. Emily Parker, managing director at Coindesk, joins CBSN's Tanya Rivero with a closer look at the potential impact.
More than 1.2 million public sector workers are out of a job thanks to the pandemic.
On "Facing Forward," Margaret Brennan talks with IMF Chief Economist Gita Gopinath on worldwide recovery efforts in the fallout of the coronavirus pandemic.
Watch the complete broadcast of the very first edition of "Sunday Morning," hosted by Charles Kuralt, from January 28, 1979. Features include commentaries on the economy and books; Vietnamese refugees facing a new life in Phoenix; and Kuralt goes "On the Road" to meet Tom Scribner, a former lumberjack who makes music on the saw. (Part 2 of 3.)
Christiana Figueres, the U.N.'s head of global climate negotiations, says reaching a deal to reduce carbon emissions is finally within reach because it's in every country's economic interests to do so. She spoke with CBS News about how the U.S. could benefit from leading the way.
China’s stock market is trying to recover after its recent meltdown. Norah O’Donnell spoke with the former chairman of the Federal Reserve, Ben Bernanke, who discussed the country with the world’s second largest economy and if it could pose a risk to the U.S. economy. Watch the full report this Sunday, September 27 on “Sunday Morning.”
Powell called global vaccination efforts "not only the right thing to do, it's also the smart thing to do."
"No one would have believed you," U.S. Treasury Secretary Jack Lew tells "CBS This Morning" anchor Norah O'Donnell, if you had predicted 5.1% unemployment and 13 million jobs created. Lew went on to explain he still worries "a lot."
Some Americans still do not have proper access to high-speed internet, which puts a strain on the economy and is leaving minorities and low-income families with an education deficit. President Biden's $3 trillion infrastructure plan could begin to tackle the issue, but there is still more to be done. CBS News political contributor and BluePrint Strategy founder Antjuan Seawright and Simmons University associate professor Colin Rhinesmith joined CBSN's Lana Zak to discuss.
Polls show half of New York City's likely voters are still undecided about who they'll back in the June 22 Democratic primary for mayor. Ray McGuire is one of eight major candidates seeking the nomination. He spoke with CBSN's Tanya Rivero about the race and why he believe he's the best fit for the nation's biggest city.
Governor Gavin Newsom said the Golden State must keep the COVID vaccine supply sufficient and keep hospitalizations stable and low.
In minutes, the Dow was down more than 1,000 points on Monday, closing down more than 588 points. CBS News business analyst Jill Schlesinger joins "CBS This Morning" to discuss what's behind the market upheaval.
Iran insists there are no plans for inspections of its bombed nuclear sites, but Trump says Tehran "fully and completely" agreed to let inspectors return.
New York City Mayor Zohran Mamdani endorsed three left-of-center candidates in the congressional Democratic primaries, and all three are set to win, CBS News projects.
Those who were fired and sent to their home agencies didn't have tasks, or their assigned tasks were outdated, a source said.
The legislation aims to increase housing supply and lower costs. It marks a rare bipartisan legislative accomplishment for lawmakers.
President Trump's construction projects include restoring the Lincoln Memorial Reflecting Pool, building a 90,000-square-foot White House ballroom and a 250-foot triumphal arch.
Brad Lander has defeated two-term incumbent Congressman Dan Goldman for the Democratic nomination in New York's 10th Congressional District.
President Trump had endorsed both candidates in the runoff.
Former Rep. Ben McAdams faced three progressive challengers in the Democratic primary in Utah's 1st Congressional District.
Gen. Chris Donahue had clashed with Defense Secretary Pete Hegseth, multiple sources told CBS News.
Former Rep. Ben McAdams faced three progressive challengers in the Democratic primary in Utah's 1st Congressional District.
In what is considered one of the most talented classes in recent memory, the Washington Wizards selected BYU small forward AJ Dybantsa with the No. 1 overall pick of the NBA Draft.
U.S. District Judge P. Casey Pitts in the Northern District of California ruled in a 71-page opinion Tuesday that multiple Trump administration policies were arbitrary and violated the Administrative Procedure Act.
The legislation aims to increase housing supply and lower costs. It marks a rare bipartisan legislative accomplishment for lawmakers.
Those who were fired and sent to their home agencies didn't have tasks, or their assigned tasks were outdated, a source said.
The legislation aims to increase housing supply and lower costs. It marks a rare bipartisan legislative accomplishment for lawmakers.
President Trump's construction projects include restoring the Lincoln Memorial Reflecting Pool, building a 90,000-square-foot White House ballroom and a 250-foot triumphal arch.
The ruling deals a setback to the "Make America Healthy Again" campaign, which seeks to curb purchases of foods officials say are unhealthy.
Nvidia, Alphabet and other technology stocks fell as Wall Street shifted from rewarding AI spending to demanding evidence that it will produce outsized returns.
The most advanced artificial intelligence models are improving quickly enough to outsmart prevailing cybersecurity know-how within months, the Five Eyes spy agency alliance is warning.
New York City Mayor Zohran Mamdani endorsed three left-of-center candidates in the congressional Democratic primaries, and all three are set to win, CBS News projects.
Former Rep. Ben McAdams faced three progressive challengers in the Democratic primary in Utah's 1st Congressional District.
Anthony Constantino beat Robert Smullen in New York's 21st Congressional District.
Democrat Cait Conley will challenge Republican Rep. Mike Lawler in the battle for New York's 17th Congressional District, which encompasses many of New York City's northern suburbs.
State Assemblyman Micah Lasher won the crowded primary race for New York's 12th Congressional District, CBS News projects.
Medicare is testing the use of artificial intelligence to preapprove several healthcare services.
Confirmed Ebola cases in the outbreak in eastern Congo have reached 1,003, including 254 deaths, officials said, and tracing those who've been in contact with patients remains a major challenge.
The Trump administration's cuts to Medicaid and SNAP may complicate Republican Gov. Joe Lombardo's reelection chances.
Hosted by Lee Cowan. Featured: Birthright citizenship; the Theodore Roosevelt Presidential Library unveiled; Shooter Jennings releases recordings by his father, Waylon Jennings; comedian John Mulaney; childhood obesity; and the secrets of seahorses and seadragons.
In 1970, about 1 in 20 children were affected by obesity; today, it's 1 in 5. Dr. Jonathan LaPook looks at programs aimed at helping kids (and their families) get healthy the old-fashioned way, by eating right and exercising.
The Senate approved a House-passed resolution aimed at reining in President Trump on Iran, marking the first time such a measure has made it through both chambers.
Army Secretary Dan Driscoll said Tuesday the Army will look into introducing electronic jamming to ranges so industry and Army soldiers can train in areas that simulate battlefield conditions.
Andy Burnham, Britain's likely next leader, hasn't said a lot about President Trump, but his few statements have been critical.
Most Britons say leaving the European Union was a mistake and they'd favor a new referendum, but politicians have little appetite to reopen the wound.
Millions in France are enduring extreme heat, with temperatures soaring and 40 drowning deaths reported since June 18.
Multiple Grammy-winning music executive Clive Davis, who helped launch the careers of such artists as Barry Manilow, Bruce Springsteen, Whitney Houston and Alicia Keys, died on June 22, 2026 at age 94. In this Oct. 23, 2011 "Sunday Morning" profile, Anthony Mason talked with Davis about his "accidental" career in music, and his comeback after losing his job as head of Columbia Records in the early '70s. Mason also attended one of Davis' legendary pre-Grammy parties, where Jennifer Hudson spoke about what she'd learned from her mentor.
Record label executive and starmaker Clive Davis died at 94 on Monday. His influence spans genres and decades. Music critic and Davis biographer Anthony DeCurtis reflects on the life and legacy of Clive Davis.
Jim Parsons speaks about starring in the musical "Titaníque," which is a comedic retelling of the story of the "Titanic," from the perspective and songs of Celine Dion. Parsons talks about why he wanted to portray's Rose's mother, the show's impact on the LGBTQ+ community and the cast.
Clive Davis, known for propelling artists across genres to stardom, died Monday at the age of 94. "CBS Mornings" co-host Gayle King looks back at his legacy in the music industry.
A judge has found that a man charged with murder in the stabbing of actor James Handy isn't mentally competent for criminal court proceedings.
Stocks slid around the world on Tuesday as investors pulled back from some of the biggest names in tech amid concerns about ongoing inflation and the possibility of future interest rate hikes. CBS News' Jo Ling Kent has more.
An international alliance warns that advanced artificial intelligence models are on the brink of being able to overwhelm cybersecurity systems for governments and businesses. Former CISA Director Chris Krebs joins with analysis.
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.
A massive tech stock sell-off dragged down the S&P 500 and Nasdaq on Tuesday. CBS News senior business and technology correspondent Jo Ling Kent has the details.
Nvidia, Alphabet and other technology stocks fell as Wall Street shifted from rewarding AI spending to demanding evidence that it will produce outsized returns.
Exactly where the comet 3I/ATLAS came from within the Milky Way remains a mystery.
Hosted by Lee Cowan. Featured: Birthright citizenship; the Theodore Roosevelt Presidential Library unveiled; Shooter Jennings releases recordings by his father, Waylon Jennings; comedian John Mulaney; childhood obesity; and the secrets of seahorses and seadragons.
Seahorses are unique ocean inhabitants with a head like a horse, a pouch like a kangaroo, a tail like a monkey, and the ability to camouflage themselves like a chameleon. They also exhibit an unconventional gender dynamic, in that the males do the work of carrying around fertilized eggs. Correspondent Conor Knighton goes in search of these fascinating fish – and their equally fascinating cousins, seadragons – at the Birch Aquarium at the Scripps Institution of Oceanography in California.
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.
The goblin shark had only previously been seen when caught by fishermen and they died shortly afterward.
The Supreme Court recently decided to reinstate the conviction of the man accused of kidnapping and murdering 6-year-old Etan Patz in 1979, bringing the case back into the public eye. "After Etan" author Lisa Cohen shares her thoughts on how the Etan Patz kidnapping changed how the public viewed missing children's cases.
Authorities believe that two ransom notes addressed to Nancy Guthrie's family shortly after her disappearance are linked to the same person or group. CBS News' Anna Schecter has more.
Investigators familiar with the case believe it is likely that two ransom notes sent to Nancy Guthrie's family were written by the person or group that abducted her. While the first note demanded millions in bitcoin, the second claimed that Nancy Guthrie had died, albeit not purposefully, according to sources who reviewed the notes. CBS News' Bradley Blackburn has more details on the case.
Two people are dead, including a police officer, after a suspect opened fire at police in Montreal. The suspect is also dead. Shanelle Kaul reports on the investigation. Warning, some of the video is graphic.
A judge has found that a man charged with murder in the stabbing of actor James Handy isn't mentally competent for criminal court proceedings.
Exactly where the comet 3I/ATLAS came from within the Milky Way remains a mystery.
The "Pink Planet," formally known as GJ504b, was discovered in 2013 and is technically not a planet but rather a "planetary-mass companion."
NASA's Jared Isaacman says the crew was selected solely based on their experience, expertise and availability for flight assignment.
NASA's Artemis III astronauts plan to carry out rendezvous and docking procedures with commercial moon landers being built by SpaceX and Blue Origin.
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.
The Obama Presidential Center, museum and library opens in Chicago with a star-studded grand opening ceremony and public watch party on Midway Plaisance.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
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.
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Meet the tattooed beauty charged in the death of Google executive Forrest Hayes.
Five large, active wildfires were threatening homes and forcing evacuations in Utah Tuesday. They range from north of Salt Lake City, to south of Provo. Rob Marciano is tracking them.
Polymarket tells CBS News it is auditing its promotional content in response to a recent investigation by the Wall Street Journal. The newspaper found that the prediction market paid online content creators to produce videos showing them collectively winning a total of $1.9 million, but the Journal says those bets weren't real. One of the article's authors, Neil Mehta, joins "The Daily Report" to discuss.
Tuesday was another day of conflicting claims from the White House and Iran over what, if any, progress has been made toward permanently ending their conflict. New York Times diplomatic correspondent Edward Wong joins with analysis.
Sandra Brunson, mother of New York Knicks superstar Jalen Brunson, says she's texted her son words of encouragement before every game since he was in high school. "I still send them, and he looks forward to them," Brunson says. See the full interview with Dr. Jon LaPook, Friday on "CBS Mornings."
Sandra Brunson, the mother of NBA Finals MVP Jalen Brunson, says she told her son, "As a leader, he has to understand that everyone has a job to do and every one of his teammates has to feel comfortable in their role and believe in their role." See the full interview with Dr. Jon LaPook, Friday on "CBS Mornings."