Jackson Hole: Powell signals additional rate hikes may be necessary
Stocks are holding on to gains after Federal Reserve Chair Jerome Powell said more rate hikes could be on the way.
Economy
T-Mobile to lay off 5,000 employees in coming weeks
Job cuts, which amount to about 7% of the wireless carrier's workforce, will affect corporate, tech and back-office roles.
BRICS nations agree to expand their group
An economic alliance that includes some U.S. adversaries seeks to expand. Current members of the BRICS economic group are Brazil, Russia, India, China and South Africa, but more than 40 countries have expressed interest in joining, from democracies like Argentina to autocracies like Iran. Alexandra Sharp, writer of Foreign Policy's World Brief newsletter, joined CBS News to discuss what the expansion may mean for the U.S.
8/23: CBS News Mornings
The first 2024 GOP presidential debate will be held Wednesday night; A'ja Wilson ties WNBA record for most points in a single game.
Mortgage rates surge to highest level since 2000
Interest rates for a home loan are continuing to soar, driving many aspiring property owners out of the market.
Fewer Americans expecting recession now — CBS News analysis
The largest drop in pessimism about the economy since summer 2022 has come from Republicans.
How will Georgia case affect Trump's support?
Former President Donald Trump canceled a news conference he scheduled for next week after his lawyers asked him to compile evidence he claimed would clear him and his allies of any wrongdoing in the Georgia 2020 election interference case into legal filings. Republican strategist and CBS News political analyst Leslie Sanchez and Ashley Etienne, CBS News political contributor and former communications director for Vice President Harris, joined CBS News to discuss the possible effect the Georgia election interference case will have on Trump's support in the state, next week's first Republican presidential debate and a new Associated Press poll on President Biden's approval rating on the economy.
China's economy appears to be slowing
New data released last week showed Chinese exports fell for the third straight month in July, with imports declining last month as well. Peter Goodman, global economics correspondent for The New York Times, joined CBS News to discuss how a faltering Chinese economy could have a ripple effect around the world.
Why U.S. credit card debt increased
U.S. credit card debt surpassed $1 trillion this week, according to new data from the Federal Reserve Bank of New York. Michelle Lambright Black, the founder of creditwriter.com, explained the factors contributing to the increase in credit card debt among Americans and provided tips on how to pay down the balances.
White House touts Inflation Reduction Act
The White House is marking one year since the Inflation Reduction Act was signed into law. CBS News chief White House correspondent Nancy Cordes previewed President Biden's remarks on Wednesday and discussed his upcoming trip to the Hawaiian island of Maui following the deadly wildfires.
Recession fears dampened by consumer spending
Economic forecasts had recession on the mind earlier this year, because of concerns over inflation and interest rate hikes to combat it. But the labor market has stayed strong, price increases have eased and people are still making purchases. Abha Bhattarai, economics correspondent for the Washington Post, joined CBS News to discuss.
Wildfires take toll on Maui economy
The wildfires in Maui have taken the lives of nearly 100 people and the livelihoods of countless others. Local officials estimate tourism accounts for roughly 80% of the island's economy, with 1.5 million visitors spending $3.47 billion in the first half of 2023. James Tokioka, director of Hawaii's Department of Business, Economic Development and Tourism, joins CBS News to discuss the financial impact of the wildfires and what the biggest priority is for rebuilding.
Poll analysis: Views of economy skewed by partisan lens
Views of the national economy have grown more connected to political partisanship.
Producer price index up 0.3% in July
Wholesale prices increased three-tenths of a percent for the month of July, according to a report from the Bureau of Labor Statistics. This comes a day after the consumer price index report showed prices rose by two-tenths of a percent last month. Hope King, senior business reporter for Axios, joined CBS News to talk about what those numbers mean for consumers and the economy.
Inflation cools, but many struggle to pay bills
Even though inflation has slowed, many Americans are still seeing costs rise for necessities like rent, groceries and utilities. Carter Evans has details.
Biden says "economy remains strong"
President Biden praised the numbers in the latest consumer price index report saying it shows the "economy remains strong." The report shows inflation rose for the first time in 12 months, but not as much as experts predicted. CBS News senior White House correspondent Weijia Jiang has more.
U.S. inflation rises 0.2% in July, data shows
A new report from the Bureau of Labor Statistics shows prices for consumer goods rose two-tenths of a percent in July, bringing the annual level to 3.2%. Javier David, managing editor for business and markets for Axios, joined CBS News to go inside the numbers and discuss the possibility of further rate hikes.
Inflation rose in July, marking the first increase in a year
Though far from its recent peak of 9.1% in June 2022, the figure remains higher than the Federal Reserve's goal of 2%.
Biden again touting economy on 3-state tour
President Biden woke up Tuesday morning in Arizona, the first of three stops on a western trip where he'll tout what his administration says is the success of so-called "Bidenomics." CBS News White House reporter Bo Erickson is covering the president in Arizona and has the latest.
A Moment With: Liza Landsman
Stash provides simple, automated tools and timely advice that has changed the lives of millions of Americans who now have a path forward to achieve lifelong goals.
8/4: CBS News Mornings
Two bodies found in Rio Grande, including one near floating border barrier; Last-minute Labor day weekend getaways that wont break the bank.
Hollywood strikes taking a toll on California's economy
In California, film and television production accounts for more than 700,000 jobs and nearly $70 billion a year in wages.
New jobs report shows solid labor market
The latest jobs report is showing a strong labor market in the face of inflation-fighting interest rate hikes, with 187,000 jobs added in July. And the unemployment rate is approaching a 50-year low at 3.5%. Daniel Zhao, lead economist at Glassdoor, joined CBS News to discuss the new numbers.
Gas prices jump to 9-month high
The average price of a gallon of gas across the U.S. is $3.83 according to AAA, a 9-month high. Wall Street Journal reporter Hardika Singh joined CBS News to discuss the reason for the price spike at the pump.
U.S. businesses add 187,000 jobs in July
U.S. businesses added 187,000 jobs in July, keeping pace with June's hiring as employers sought to add staff amid a tight labor market. Job growth has become more muted than earlier this year, Axios managing editor for business and markets Javier David joins CBS News to discuss why.
Tennessee's attempt to execute Christa Pike using lethal injection fails
Co-pilot stabs pilot, tries to crash passenger jet en route to Israel, Netanyahu says
Hegseth says he's cutting generals and admirals by 20%, ousting "woke"
Details emerge in case of former Cornell student alleging rape by frat members
Live
Iran says it's considering ceasefire counterproposal
Trump unveils South Korean investment in Alaska gas pipeline
Netanyahu says it's too early to determine motive in cockpit stabbing
Trump deflects on audio of Paxton calling GOP convention a drag on polls
