Yellen: U.S. default would be a "catastrophe"
The treasury secretary also told G-7 finance ministers and central bank chiefs meeting in Japan that a first-ever U.S. default on its debts is "unthinkable."
Economy
Investors react as inflation slows
Stocks closed relatively flat Wednesday following the release of Consumer Price Index data for April. Wells Fargo senior global markets strategist Scott Wren joins CBS News to explain what the new inflation numbers mean for consumers and investors.
Consumer Price Index up 0.4% in April
The Consumer Price Index shows inflation rose 0.4% between March and April. Prices rose 4.9% year-over-year. Axios managing editor for business and markets and CBS News contributor Javier David discusses what this means for the economy with Anne-Marie Green and Vlad Duthiers.
What a default could do to the U.S. economy
"No one should assume that the Fed can… really protect the economy and the financial system, and our reputation globally, from the damage such an event might inflict," Federal Reserve Chairman Jerome Powell said.
Where lawmakers can compromise on debt limit
President Biden hosted top congressional leaders at the White House Tuesday afternoon to discuss the debt ceiling standoff. Mark Zandi, chief economist for Moody's Analytics, joins with a look at where talks could go in the coming weeks.
Biden, McCarthy speak out after debt summit
President Biden met with top congressional leaders Tuesday, trying to prevent the economic chaos a default would cause if an agreement isn't reached on the debt ceiling. After the meeting, the president pointed out how far apart the two sides are. CBS News chief White House correspondent Nancy Cordes reports.
Corporate profits could be fueling inflation
Some companies are raising prices faster than costs are increasing, fueling inflation. CBS News' Tony Dokoupil and Errol Barnett are joined by Wall Street Journal reporter Paul Hannon with more.
China increasing automobile exports
China's automotive exports have tripled over the last five years. Many of its newest vehicles are hybrid or fully electric. Elizabeth Palmer reports.
April job growth beats expectations
The Labor Department's latest report shows employers added 253,000 jobs in April. Daniel Altman, chief economist at Instawork, breaks down the findings.
Latest jobs report shows strong economic growth
The U.S. added 253,000 jobs in April, according to a report released Friday by the Labor Department, well above estimates from economists. Unemployment also fell to 3.4%, and wages were also higher. Ed O'Keefe has the details.
How AI could change certain types of work
The popularity of artificial intelligence has exploded, and its impact could stretch across industries. Nancy Chen takes a look at what it could mean for many types of jobs.
European Central Bank raises interest rates
Inflation in the Eurozone ticked up to 7% in April. The European Central Bank raised interest rates to 3.25% and indicated more hikes are to come. Brendan McKenna , an international economist for Wells Fargo, joined CBS News to compare the ECB and Federal Reserve's approaches to inflation.
CEO pay continues to rise
Salaries for top CEOs rose 7.7% last year, even as most Americans are struggling to keep up with inflation. CBS MoneyWatch associate managing editor Irina Ivanova joins Errol Barnett and Elaine Quijano with more.
U.S. adds 253,000 jobs in April
Employers in the U.S. added 253,000 jobs in April, and the nation's unemployment rate fell to 3.4% from 3.5% in the prior month, the Labor Department said. CBS News business analyst Jill Schlesinger joined Anne-Marie Green to discuss the jobs report.
What bank stock falls could mean for economy
Federal Reserve Chair Jerome Powell began a press conference Wednesday saying "the U.S. banking system is sound and resilient." Yet several regional bank shares were on the decline Thursday. Wall Street Journal banking reporter Gina Heeb breaks down the possible implications for the economy.
How to save money as inflation remains high
Many Americans are struggling to save money as inflation keeps costs high. Jennifer Streaks, a senior personal finance reporter for Business Insider, shares tips on how to increase financial stability.
How interest rate hikes affect debt, loans
The Federal Reserve increased its key interest rate by a quarter of a point Wednesday, the 10th straight hike since last March. Anita Hamilton, assistant managing editor at Barron's, joined CBS News' Vladimir Duthiers and Anne-Marie Green to discuss the effects of the hikes.
Biden aide on debt ceiling, immigration, 2024
Anita Dunn, one of President Biden's highest-ranking White House aides, called on lawmakers to "update our immigration laws to reflect the realities of 2023," noting that the last time Congress passed major immigration legislation was decades ago. Watch her interview with CBS News political correspondent Caitlin Huey-Burns.
Interest rates could alter Biden's reelection
The Fed has raised interest rates again. Nancy Cordes joins "CBS News Mornings" to explain the impact this could have at the White House.
Fed increases interest rates to 16-year high
The Federal Reserve raised its key interest rate another quarter of a percentage point Wednesday in its ongoing effort to bring inflation down. The increase is the 10th straight interest-rate hike since last March in what has been the most aggressive rate-hiking campaign since the 1980s. The hikes are among factors being blamed for the biggest banking sector meltdown since the 2008 financial crisis. Nancy Cordes has more details from the White House.
Why are earthquakes getting more expensive?
The estimated annual cost from earthquake damage is soaring in California, and it already makes up more than half of the nation's annual earthquake costs. Los Angeles Times reporter Rong-Gong Lin II joined CBS News to discuss the possible reasons behind the increase.
Interest rates highest since 2007
The Federal Reserve pushed interest rates to the highest point since 2007 to combat inflation. Critics warn the hikes could lead to a recession. Nancy Cordes reports.
Potential economic impacts of writers' strike
The TV and film writers strike could impact more than just our favorite television shows. The move is already having ripple effects across the entertainment industry, and depending on how long it lasts, it could have economic implications as well. Alissa Wilkinson, a senior culture reporter and critic at Vox, joins CBS News with more.
Federal Reserve poised to raise interest rates
The Federal Reserve is expected to raise interest rates Wednesday for the tenth consecutive time in just over a year. Rod von Lipsey, a managing director for UBS Private Wealth Management, joins Errol Barnett and Lana Zak to discuss the anticipated decision.
5/2: CBS News Mornings
Biden calls on GOP to strike deal so U.S. doesn't default on debts; MET Gala brings out glamour and surprises.
More details emerge about FlyDubai co-pilot who tried to crash plane
Tennessee cancels executions after Christa Pike survives botched injection
Live
Trump renews threat to resume attacks on Iran after U.S. midterms
Investigation
U.S. surrogate for Chinese billionaire says she trusted agency, as questions arise
Family of Renee Good files civil suits against federal government
Details emerge in case of former Cornell student alleging rape by frat members
Crew launches to space station with astronaut who'll miss birth of child
Reflecting pool vandalism charges against David Hearn permanently dismissed
