Transcript: Mohamed El-Erian on "Face the Nation"
The following is a transcript of an interview with Mohamed El-Erian, Allianz Chief Economic Advisor, that aired Sunday, September 6, 2020, on "Face the Nation."
Economy
Trump denies calling fallen troops “losers”
President Trump is fiercely denying a report alleging he disparaged veterans for their military service, calling those who died in combat “losers” and “suckers.” The comments appear to overshadow the Labor Department’s August jobs report which saw 1.4 million jobs added last month. Bofta Yimam reports from the White House.
Two different pandemic economies
Permanent job losses rose and hiring slowed in August, according to the latest Bureau of Labor Statistics report, but the unemployment rate is back in single digits for the first time since March. CBS News correspondent Mark Strassmann reports on the divide between Wall Street and Main Street, and Mark Hamrick, Washington bureau chief and senior economic analyst for Bankrate, joined CBSN to discuss what to take away from the latest numbers.
Asian Americans falling behind White workers in job market
Working in industries hit hard by the coronavirus — along with racism — are to blame, experts say.
U.S. economy added 1.4M jobs in August
The U.S. added 1.4 million jobs in August, according to the Labor Department. The unemployment rate also fell to 8.4%, dipping into single digits for the first time since March. Optimal Capital's Frances Stacy joined CBSN to break down the numbers.
881,000 new jobless claims last week
New jobless claims fell to 881,000 last week, perhaps signaling the U.S. economy is heading in the right direction. Yahoo Finance's Rick Newman joins CBSN for a closer look at what this means for the overall economy.
Voters skeptical of Trump on economy
President Trump is dismissing fears of a recession and said the economy is "doing very well." CBS News political correspondent Ed O'Keefe joins "CBSN AM" from Sioux City, Iowa, with how voters and the Democratic presidential candidates are reacting to the president's handling of the economy.
EMS workers in NYC brace for mass layoffs amid pandemic
The economic fallout from the coronavirus pandemic could cost hundreds of New York City EMS workers and paramedics their jobs, but they say it could cost lives if there's another COVID-19 flare-up. Nikki Battiste has details.
States and colleges attempt to reopen
California is attempting a new reopening plan after an early end to lockdown led to a surge in coronavirus cases. Across the country, various colleges are also trying to restart in-person learning after outbreaks on several campuses. Danya Bacchus reports.
MGM to cut 18,000 workers who were previously furloughed
CEO Bill Hornbuckle said the casino operator continues to feel the impact of the coronavirus pandemic.
Former Obama economist says Congress needs to "throw money" at childcare
Betsey Stevenson, former chief economist for the U.S. Department of Labor, warns coronavirus' impact on childcare could last decades
RNC Night 4 preview
CBSN political reporter Caitlin Huey-Burn and CBS News 2020 campaign reporter Nicole Sganga join CBSN's "Red & Blue" with more on what we can expect from President Trump's acceptance speech.
Senator Mike Braun on Trump's RNC message
The U.S. is facing a number of ongoing crises as President Trump prepares to officially accept his nomination for a second term at the Republican National Convention. Senator Mike Braun, a Republican from Indiana, joined CBSN's "Red and Blue" to discuss the president's "law and order" message, the coronavirus response, and more.
U.S. economy plunged an annualized 31.7% in second quarter
The government slightly downgraded its earlier estimate, but the economic damage remains historic.
U.S. consumer confidence falls in August
Consumer confidence in the U.S. fell in August to the lowest it's been in six years amid the coronavirus pandemic. Axios market editor Dion Rabouin joined "Red and Blue" to discuss the impact this could have on the nation's economic growth in the near future.
Nearly half of Americans are using downturn to shore up finances
Nearly half of Americans say they've either saved more money or paid down debt since the pandemic started.
More Americans are going hungry
According to census data, almost 20% of Americans with kids at home could not afford to give their children enough food. Professor Mariana Chilton teaches health management and policy at Drexel University and joins CBSN to discuss how the pandemic has impacted hunger in America. She also comments on Senator Martha McSally's asking supporters to fast for a meal so they could donate to her reelection campaign.
Businesses held sway over state reopening plans, emails show
Governors across the U.S. were inundated with reopening advice from businesses including campgrounds and car washes.
Pandemic, racial injustice take toll on Black communities' mental health
The coronavirus pandemic, the worst economic downturn since the Great Depression, and the George Floyd killing in Minneapolis that sparked weeks of protests for racial justice, have all taken a mental toll. Jericka Duncan reports.
Battleground Tracker: Republicans see U.S. as better off now than 4 years ago
And after the Democratic convention, Biden has solidified Democratic support, according to the latest CBS News poll.
Without government help, the economy is slumping again
Bank of America says the economy needs an additional $1.4 trillion to keep the recovery going.
Apple and Tesla announce stock splits
Apple and Tesla are both splitting their stocks to make them more affordable for small investors who can't afford to buy individual shares at their current prices. Akiko Fujita, an anchor and reporter for Yahoo Finance, joins CBSN to discuss what that could mean for the companies and investors.
Pennsylvania graduates continue to face uncertainty amid pandemic
Recent college graduates like Sarah Sporko are still feeling the effects.
Women, minorities pushed into early retirement
CBS MoneyWatch spoke to The New School's retirement expert, labor economist Teresa Ghilarducci, about why women and workers of color are more likely to be forced into early retirements during the coronavirus pandemic.
S&P 500 reaches new high, defying economic gloom
Benchmark index surpassed its previous record on February 19 amid expectations for an economic rebound in 2021.
New ICE memo gives deportation officers more leeway to conduct warrantless arrests
The memo suggests the rules are designed to give ICE greater flexibility to quickly arrest unauthorized immigrants who are not the original targets of an operation.
Judge orders 5-year-old Liam Conejo Ramos and dad to be released from ICE detention
A federal judge in Texas on Saturday ordered 5-year-old Liam Conejo Ramos and his father to be released from immigration detention.
Exclusive
Immigrant pursued by federal agents before Alex Pretti's killing speaks out
"I was there. I saw everything," Jose Huerta Chuma, who remains in hiding, told CBS News.
Massive release of Epstein files includes 3 million documents and photos
The Justice Department released more new documents Friday from the Jeffrey Epstein files, more than a month after the DOJ's original deadline to do so.
Partial government shutdown begins as funding lapses despite Senate deal
The Senate passed a deal on a package of spending bills late Friday, sending it to the House, though funding for dozens of government agencies has still lapsed.
Officials in Minnesota allege Bovino used language offensive to Jews on conference call
Top Border Patrol official Gregory Bovino allegedly used language offensive to Jewish federal officials on a recent call, sources said.
Powerful storm starts hitting an East Coast still buried under last week's snow
Blizzardlike conditions stemming from a "bomb cyclone" were bringing heavy snow to the Southeast and were ushering in frigid temperatures to much of the East Coast.
Federal judge denies Minnesota's request to temporarily halt Operation Metro Surge
Federal judge Kate Menendez denied Minnesota's motion for a temporary restraining order to halt "Operation Metro Surge" on Saturday. The court documents, filed on Saturday, state that Minnesota, Minneapolis, and St. Paul have not met their burden of proof.
Explosion in Iranian port city ahead of Iran's naval drill in the Strait of Hormuz
The blast happened a day before a planned naval drill by Iran in the Strait of Hormuz, the narrow mouth of the Persian Gulf through which a fifth of all oil traded passes.
U.S.
More U.S.
Democrat Christian Menefee wins special election for U.S. House in Texas
Democrat Christian Menefee won a Texas U.S. House seat in a special election Saturday that will narrow Republicans' already-slim majority.
Virginia woman was strangled with her child sleeping nearby, authorities say
Ten days before investigators say Katlyn Lyon Montgomery, 28, was strangled in her sleep in the Virginia apartment she shared with her 4-year-old daughter and a new roommate, she had broken up with Trenton Frye, a North Carolina man she met online months before.
Firefighter accused of staging a house fire to cover up a murder
It was Thanksgiving Eve 2020, and Melissa Lamesch was excited about the upcoming birth of her first child. Investigators would learn there was someone who was not as enthused — the expectant father, firefighter Matthew Plote.
Officials in Minnesota allege Bovino used language offensive to Jews on conference call
Top Border Patrol official Gregory Bovino allegedly used language offensive to Jewish federal officials on a recent call, sources said.
New ICE memo gives deportation officers more leeway to conduct warrantless arrests
The memo suggests the rules are designed to give ICE greater flexibility to quickly arrest unauthorized immigrants who are not the original targets of an operation.
MoneyWatch
More MoneyWatch
Trump nominates government economist to lead Bureau of Labor Statistics
President Trump says he is nominating the government economist Brett Matsumoto to lead the Bureau of Labor Statistics.
3 key questions for investors about Fed Chair nominee Kevin Warsh
Kevin Warsh, a former Fed governor, is in line to replace Fed Chair Jerome Powell in May. Here's what Wall Street wants to know.
Patients are being hit with this surprise fee just for seeing their doc
One patient reports getting stuck with a $2,418 "facility fee" after seeing her doctor. "I didn't even know such a thing existed," she said.
A new $45 fee for travelers without Real IDs goes into effect Feb. 1
Passengers without Real IDs can still fly if they pay a $45 fee, which covers the cost of additional identity verification screening.
Saks to shutter most Saks Off 5th stores as bankrupt retailer cuts costs
Saks, which declared bankruptcy on Jan. 14, is set to hold going-out-of-business sales as it closes dozens of retail outlets.
Politics
More Politics
Democrat Christian Menefee wins special election for U.S. House in Texas
Democrat Christian Menefee won a Texas U.S. House seat in a special election Saturday that will narrow Republicans' already-slim majority.
Explosion in Iranian port city ahead of Iran's naval drill in the Strait of Hormuz
The blast happened a day before a planned naval drill by Iran in the Strait of Hormuz, the narrow mouth of the Persian Gulf through which a fifth of all oil traded passes.
Officials in Minnesota allege Bovino used language offensive to Jews on conference call
Top Border Patrol official Gregory Bovino allegedly used language offensive to Jewish federal officials on a recent call, sources said.
Proposed Venezuelan bill could lead to release of hundreds of political prisoners
The U.S. Embassy for Venezuela also announced Friday that all American citizens detained in Venezuela have been released.
Federal judge denies Minnesota's request to temporarily halt Operation Metro Surge
Federal judge Kate Menendez denied Minnesota's motion for a temporary restraining order to halt "Operation Metro Surge" on Saturday. The court documents, filed on Saturday, state that Minnesota, Minneapolis, and St. Paul have not met their burden of proof.
HealthWatch
More HealthWatch
Book excerpt: "The Let Them Theory" by Mel Robbins
In her latest bestseller, the motivational speaker discusses how personal growth is only possible when you stop pouring energy into things you cannot control – which includes changing other people.
A cop thought he had a muscle cramp. He ended up fighting for his life.
Sgt. Chris Johnson was told that his heart condition had nearly been "instantly fatal." Rapid medical care and rigorous therapy helped him recover.
Patients are being hit with this surprise fee just for seeing their doc
One patient reports getting stuck with a $2,418 "facility fee" after seeing her doctor. "I didn't even know such a thing existed," she said.
Carter Center reaches major milestone in quest to eradicate Guinea worm
Jimmy Carter made eradicating the Guinea worm a top mission of The Carter Center. Now it could soon become the second disease eradicated in history.
Life expectancy in U.S. hit record high of 79 years in 2024, CDC says
U.S. life expectancy rose to 79 years in 2024 - the highest mark in American history. But the U.S. still ranks below dozens of other countries.
World
More World
Explosion in Iranian port city ahead of Iran's naval drill in the Strait of Hormuz
The blast happened a day before a planned naval drill by Iran in the Strait of Hormuz, the narrow mouth of the Persian Gulf through which a fifth of all oil traded passes.
Proposed Venezuelan bill could lead to release of hundreds of political prisoners
The U.S. Embassy for Venezuela also announced Friday that all American citizens detained in Venezuela have been released.
Satellite photos show activity at Iran nuclear sites as protest tensions rise
The images from Planet Labs PBC show that roofs have been built over two damaged buildings at the Isfahan and Natanz facilities.
Danish veterans protest outside U.S. Embassy over Greenland
Danish veterans are furious at the White House's rhetoric, which disregards Greenland's right to self-determination, a territory of NATO ally Denmark.
Israel strikes in Gaza kill at least 30 Palestinians
Hamas called Saturday's strikes "a renewed flagrant violation" and urged the United States and other mediating countries to push Israel to stop the strikes.
Entertainment
More Entertainment
Entertainment
Recovered treasure leads to a Grammy nomination
Archivist and music historian Alex Palao worked to restore old tapes by "Sly and Family Stone" that gathered dust for decades. He co-produced the live album called "The First Family: Live at the Winchester Cathedral 1967." He is now nominated for "Best Album Notes" at Sunday's Grammy Awards. CBS News San Francisco's Max Darrow has the story.
"Sanford and Son" star Demond Wilson dies at 79
Actor Demond Wilson died in his California home due to complications from prostate cancer, CBS News learned on Saturday. He starred alongside Redd Foxx in "Sanford and Son," one of the biggest TV hits of the 1970s.
Demond Wilson, "Sanford and Son" and "The New Odd Couple" actor, dies at 79
In 1971, Demond Wilson appeared on an episode of "All in the Family," a role that led him to land a lead part in "Sanford and Son."
Courtney Marie Andrews performs "Everyone Wants To Feel Like You Do"
Courtney Marie Andrews started writing songs as a teenager and played in punk bands before starting out on her own. Since then, she has been nominated for a Grammy and become known for her vulnerable lyrics and dazzling voice. Now, from her new album "Valentine," here is Courtney Marie Andrews with "Everyone Wants To Feel Like You Do."
Courtney Marie Andrews performs "Cons and Clowns"
Courtney Marie Andrews started writing songs as a teenager and played in punk bands before starting out on her own. Since then, she has been nominated for a Grammy and become known for her vulnerable lyrics and dazzling voice. Now, from her new album "Valentine," here is Courtney Marie Andrews with "Cons and Clowns."
Technology
More Technology
Uber looks to cash in on self-driving cars — but not by driving them
The rideshare company is getting into the business of providing real-world driving data to autonomous vehicle developers. Here's why.
New AI features for Gmail users
This month, Google launched a suite of new features for Gmail. Google's AI assistant, Gemini, can now filter through junk, summarize an inbox and even help users write emails. Blake Barnes, Gmail vice president of product, joins CBS News to discuss.
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.
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.
TikTok's new privacy policy is sparking a backlash. Here's what to know.
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.
Science
More Science
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
More Crime
Virginia woman was strangled with her child sleeping nearby, authorities say
Ten days before investigators say Katlyn Lyon Montgomery, 28, was strangled in her sleep in the Virginia apartment she shared with her 4-year-old daughter and a new roommate, she had broken up with Trenton Frye, a North Carolina man she met online months before.
Firefighter accused of staging a house fire to cover up a murder
It was Thanksgiving Eve 2020, and Melissa Lamesch was excited about the upcoming birth of her first child. Investigators would learn there was someone who was not as enthused — the expectant father, firefighter Matthew Plote.
Judge rules out death penalty for Mangione
A judge declared that Luigi Mangione will not face the death penalty if convicted on federal charges in the 2024 killing of United HealthCare CEO Brian Thompson. It's a big win for Mangione, though he still faces the possibility of life in prison.
Virginia woman strangled days after dumping her deceptive boyfriend
The prosecutor said Katlyn Lyon Montgomery's ex-boyfriend dressed as a "ninja" to sneak up on her while asleep in her Virginia apartment.
Why judge dropped 2 charges against Mangione
Luigi Mangione, the accused killer of UnitedHealthcare CEO Brian Thompson, will not face the death penalty after a judge on Friday dismissed two counts that could have carried a death sentence. CBS News legal contributor Caroline Polisi joins to take a look at the new ruling and what it means for the high-profile murder case.
Space
More Space
Space
NASA's Artemis II slated to be a series of firsts
Extreme cold has forced NASA to reschedule its next moon mission. On Saturday, the massive Artemis II rocket stands on launch pad 39B at the Kennedy Space Center. Like Apollo 8 in 1968, it won't land on the lunar surface. Mark Strassmann has more on why the latest mission is considered groundbreaking.
NASA delays Artemis mission to moon due to cold weather
The first Artemis moonshot with a crew is now targeted for no earlier than Feb. 8, two days later than planned.
Artemis II crew undergoes intense training for rare moon mission
For months, the Artemis II crew and flight controllers have been simulating malfunctions to prepare for their upcoming trip around the Moon.
Inside Artemis II astronauts' training
NASA is preparing for its first crewed mission around the moon in more than 50 years. The Artemis II astronauts include three Americans and one Canadian on a 10-day flight. Mark Strassmann got a look at how they're training.
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.
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
Recovered treasure leads to a Grammy nomination
Archivist and music historian Alex Palao worked to restore old tapes by "Sly and Family Stone" that gathered dust for decades. He co-produced the live album called "The First Family: Live at the Winchester Cathedral 1967." He is now nominated for "Best Album Notes" at Sunday's Grammy Awards. CBS News San Francisco's Max Darrow has the story.
NASA's Artemis II slated to be a series of firsts
Extreme cold has forced NASA to reschedule its next moon mission. On Saturday, the massive Artemis II rocket stands on launch pad 39B at the Kennedy Space Center. Like Apollo 8 in 1968, it won't land on the lunar surface. Mark Strassmann has more on why the latest mission is considered groundbreaking.
"Sanford and Son" star Demond Wilson dies at 79
Actor Demond Wilson died in his California home due to complications from prostate cancer, CBS News learned on Saturday. He starred alongside Redd Foxx in "Sanford and Son," one of the biggest TV hits of the 1970s.
The Firefighter's Secret
A young woman is found dead in her burning home. She'd been involved with a firefighter — could he have set a fire to cover her murder? "48 Hours" contributor Nikki Battiste reports.
Iran set to conduct live fire drills
The U.S. military has assembled a formidable force within striking distance of Iran. Meanwhile, Iran said it would be starting live fire drills in the Strait of Hormuz this weekend as tensions in the region are sky high. Haley Ott reports.