Biden unveils new economic plan
President Biden has unveiled his new plan for the U.S. economy. During a speech in Chicago, he touted growing the economy by focusing on expanding the middle class. CBS News White House reporter Bo Erickson has more.
Economy
Biden says there won't be a recession
President Biden touted his administration's economic policies during a speech in Chicago on Wednesday. The pitch comes as the president ramps up his reelection campaign, but recent CBS News polling found a majority of Americans think the condition of the economy is bad. Ed O'Keefe and Robert Costa join "America Decides" to break down the remarks.
Cheaper chicken, gas: Some prices are easing this July Fourth
Cookout costs will vary, but Americans hitting the road are about to save $2.6 billion on gas this holiday weekend over last year.
Biden touts economic record in Chicago, hoping to convince skeptical public
President Biden had a tough sell Wednesday, trying to convince voters that the U.S. economy is flourishing.
Home prices and rents predicted to fall
Realtor.com has flipped its housing market forecasts for this year. The real estate company is now predicting home and rent prices will decline. James Rodriguez, a senior real estate reporter for Insider, joins CBS News with more.
Democratising Investing through Building Trust
Velexa, building technology that encourages financial health
Funflation? Summer spending driving up prices
Central banks on both sides of the Atlantic say more interest rate hikes are likely this fall as they grapple with stubborn inflation. And economists say consumers are still spending money on fun experiences this summer, driving prices even higher. Bernhard Warner, senior editor for The New York Times' Dealbook, joins CBS News with more.
Understanding anchoring bias in finance
The phenomenon known as "anchoring bias," where people rely heavily on the first information they receive about a topic, can hurt personal finances. Dan Geltrude, CPA and the founder of accounting firm Geltrude and Company, joins CBS News to explain.
Rent is falling across the U.S. for the first time since 2020
After topping out last year at nearly $1,800 per month, rent is finally starting to ease, new data shows.
How "revenge spending" led to price hikes
Economists say the U.S. witnessed two years of so-called "revenge spending" following the COVID-19 lockdowns. But this summer could mark a shift back to normal spending habits, which could help ease inflation. Jeanna Smialek, a federal reserve and economy reporter for the New York Times, joined CBS News to talk about the trend.
Europe's economy grew in 2023 first quarter
The European Union registered a slender growth of 0.3% while the Eurozone, countries which use the Euro currency, grew by 0.1% in the first quarter of 2023. Although the European Union avoided a recession, inflation remains high. Brendan McKenna, an international economist for Wells Fargo, joined Anne-Marie Green on CBS News Mornings to discuss the latest.
Biden to host first 2024 campaign event
President Joe Biden is set to host his first campaign event for 2024 on Saturday. He is expected to get a major labor union endorsement ahead of his speech, where he will talk about helping America's middle class. Christina Ruffini reports.
6/15: CBS News Mornings
Cleanup underway in South after tornadoes; California home-buying struggles.
Risks and benefits of investing in CDs
Soaring interest rates pushed more investors and U.S. families to invest in certificates of deposit. Some banks were offering guaranteed returns higher than 5%. Javier David, managing editor for business and markets at Axios, has more on the benefits and risks of CDs.
Federal Reserve pauses interest rate hikes
For 15 months the Federal Reserve has been trying to catch up to rising inflation by slowing economic activity. The central bank announced Wednesday it will not increase interest rates for now, but warned that the pause may not last long. CBS News senior White House correspondent Weijia Jiang reports.
Here's what the Fed's interest rate pause means for your money
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
Why the Fed paused interest rate hikes
For the first time since March 2022, the Federal Reserve will not be raising interest rates. J.D. Durkin, on-air host for digital financial news platform TheStreet, joins CBS News to discuss the Fed's path forward.
Fed hits pause on interest rates hikes
After 10 straight interest rate hikes done in an effort to combat inflation, the Federal Reserve on Wednesday chose to pause those rate hikes. However, Federal Reserve Chair Jerome Powell did signal that more rate hikes could be coming later this year. Weijia Jiang has more.
Retailers across U.S. abandoning storefronts
Across the nation, there's been an increase in the number of vacant commercial real estate spaces, with nearly one in five sitting empty. Albert Yoon, a real estate editor at Insider, joins CBS News with more.
Inflation falls for 11th straight month
Inflation fell to 4% in May, the lowest rate since hitting a peak of 9.1% in June 2022. The welcome news may dissuade the Federal Reserve from raising interest rates for an 11th time. CBS News chief White House correspondent Nancy Cordes reports.
Fed expected to pause interest rate hikes
Inflation was lower in May, falling for the 11th straight month. And that could mean no more Federal Reserve interest rate hikes, at least for now. CBS News chief White House correspondent Nancy Cordes has more.
Inflation cools to lowest rate in 2 years
Consumer prices were up 4% from a year ago, according to the Department of Labor. That's the lowest inflation rate since 2021, although shoppers are still seeing rising prices at the grocery store. Carter Evans reports.
Inflation falls to lowest level in 2 years
The Labor Department reported Tuesday that the inflation rate for the month of May fell to 4% -- the lowest level in more than two years. David Wessel, director of the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution, joined CBS News to break down the numbers.
Rate hike pause after inflation report?
The latest consumer price index shows inflation is cooling. Prices rose 0.1% last month. Lori Bettinger, former director of the TARP Capital Purchase Program at the Department of the Treasury, has more on what this could mean for future interest rate hikes.
6/13: CBS News Mornings
Trump to be arraigned in federal court; wellness travel industry booming.
Tennessee's attempt to execute Christa Pike using lethal injection fails
Live
Iran calls U.S. Iraq withdrawal a victory that should extend to entire region
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
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
