Analyzing Jerome Powell's legacy
Friday marked Jerome Powell's last day as Chairman of the Federal Reserve. CBS News producer Emily Pandise takes a look at his legacy.
Federal Reserve
How will Jerome Powell be remembered as he exits as Fed chair?
As Powell steps down after more than eight years leading the Federal Reserve, economists say he helped steer the U.S. through historic shocks but misread inflation.
Powell's legacy as Federal Reserve chair
Federal Reserve Chair Jerome Powell's last day comes after a tense tenure through a pandemic, economic turmoil and a rocky relationship with President Trump. CBS News' Emily Pandise reports.
Powell's tenure ends as Federal Reserve chair
Kevin Warsh is expected to take over as chair of the Federal Reserve as Jerome Powell concludes his tenure. Kristin Myers, the senior vice president of content and editor in chief of ETF.com, joins CBS News with more.
Senate confirms Kevin Warsh as next Fed chair
Kevin Warsh was confirmed by the Senate on Wednesday as the next Federal Reserve chair. Warsh will succeed Jerome Powell, whose term ends Friday. CBS News' Caitlin Huey-Burns has more.
Fed unlikely to cut interest rates until 2027, Bank of America says
A "hawkish" turn at the Fed and stubbornly high inflation could delay interest rate cuts, according to Bank of America economists.
Minneapolis Fed president on interest rates
Neel Kashkari, the president and CEO of the Minneapolis Fed, told "Face the Nation with Margaret Brennan" that while economists have been watching for an interest rate cut, "we all need to be open-minded about where interest rates are going because there's so much uncertainty coming out of the Middle East."
Fed holds interest rates steady again
The Federal Reserve on Wednesday held its benchmark interest rate steady for the third consecutive month as the U.S. economy faces rising inflation. Kelly O'Grady reports.
Powell to stay on Federal Reserve board as policy makers hold rates steady
Fed chief Jerome Powell said he will remain as a governor on the central bank's board after his term as chair ends on May 15.
Why Fed kept rates same for third consecutive time
For its third consecutive meeting, the Federal Reserve left its benchmark interest rate unchanged. CBS News MoneyWatch correspondent Kelly O'Grady reports.
Senate Banking Committee advances Kevin Warsh's nomination for Fed chair
Senators voted along partisan lines, with Republicans backing Warsh's nomination to lead the Fed and Democrats on the panel opposing him.
Powell staying on Fed board after term ends
Jerome Powell held his last news conference as Federal Reserve chair on Wednesday, announcing his intention to stay on the central bank's board as a governor "for a period of time to be determined" following the end of his term.
Federal Reserve holds interest rates steady
The Federal Reserve held its benchmark interest rate steady on Wednesday as the U.S. economy continues to grapple with rising inflation. CBS News MoneyWatch correspondent Kelly O'Grady has more.
Tillis says he's ready to move forward with Warsh's nomination for Fed chair
U.S. Attorney Jeanine Pirro said Friday her office is dropping its criminal investigation into Fed Chairman Jerome Powell and the $2.5 billion renovation of the central bank's headquarters.
End of DOJ Powell probe could clear way for Warsh
The Justice Department has dropped its criminal investigation into outgoing Federal Reserve Chair Jerome Powell over the central bank's renovation. The move clears a key hurdle for President Trump's pick to replace Powell, Kevin Warsh. CBS News congressional correspondent Nikole Killion reports.
4/24: The Takeout with Major Garrett
Second round of U.S.-Iran peace talks expected this weekend; U.S. soldier charged for allegedly using confidential info to bet on Maduro's removal.
White House DOJ dropping Jerome Powell probe
The Justice Department announced Friday that it would be dropping an investigation into Federal Reserve Chair Jerome Powell. CBS News' Kelly O'Grady reports.
Justice Department drops Jerome Powell probe
U.S. Attorney Jeanine Pirro announced Friday that the Justice Department is dropping the investigation into Federal Reserve Chairman Jerome Powell.
Tillis: "Hard to tell" where U.S. is in Iran war
Wednesday marks 53 days since the U.S. launched the war with Iran. Republican Sen. Thom Tillis of North Carolina joins "The Takeout" to discuss the state of the conflict and more.
Kevin Warsh on Fed independence
President Trump's nominee to head the Federal Reserve assured lawmakers on Tuesday that he would maintain strict independence. Kristin Myers, the senior vice president of content and editor in chief of ETF.com, joins CBS News with more.
Key moments at Warsh confirmation hearing
Kevin Warsh, President Trump's nominee to replace outgoing Federal Reserve Chair Jerome Powell, faced tense questioning from senators at his confirmation hearing on Tuesday. Here are some of the most notable exchanges.
What led to Cherfilus-McCormick's resignation?
Democratic Rep. Sheila Cherfilus-McCormick of Florida resigned from Congress on Tuesday ahead of a House Ethics Committee hearing to decide how to sanction her for more than two dozen campaign finance-related violations. CBS News congressional reporter Taurean Small has more.
Who will run the Federal Reserve if the Senate doesn't confirm Trump's pick?
President Trump is fighting to reshape the Federal Reserve by replacing Chair Jerome Powell with Kevin Warsh — but if the Senate doesn't confirm Warsh by next month, it's not clear who will run the nation's central bank.
Warsh asked about Lisa Cook firing
During questioning from Democratic Sen. Angela Alsobrooks, Kevin Warsh declined to weigh in on President Trump's attempt to fire Lisa Cook from her position on the Federal Reserve Board of Governors, a case that is now before the Supreme Court. "The Fed should stay in its lane," Warsh said.
Warsh denies Trump asked for interest rate cuts
Sen. Ruben Gallego pressed Kevin Warsh again about whether President Trump asked him to commit to lowering interest rates if he was nominated to lead the Federal Reserve. Warsh reiterated that the president never asked him to "commit to any such thing."
Live
Trump says he was "an hour away" from striking Iran
Trump says he scrapped a planned attack on Iran at the request of Gulf allies as "serious negotiations" on a peace deal are underway.
Exclusive
Troops say Army ignored request for more medical support before deadly attack
Survivors say they'd asked for more medical support before the Iranian drone strike that killed six U.S. soldiers at their command post in Kuwait in the war's first 24 hours.
Trump endorses Paxton in Texas Senate race ahead of runoff
President Trump endorsed Texas Attorney General Ken Paxton on Tuesday in the Texas Senate race, seeking to bring to an end a costly contest just a week ahead of the scheduled runoff.
Security guard killed in San Diego Islamic Center shooting remembered as a hero
A security guard who was among the victims killed in a shooting at the Islamic Center of San Diego is being hailed for his heroism and bravery during the attack.
First on CBS
Federal prosecutors open new criminal probe into Maduro, sources say
There is concern among some in the Justice Department that the pending charges against him are weak, sources said.
Who's who in Cuba's leadership? Here are the names to know.
President Trump has been openly mulling a takeover of Cuba similar to the operation that toppled Venezuela's Nicolás Madoro. What it would mean for the regime's leaders remains to be seen. Here are some of the figures to watch.
What to know about today's primaries in Georgia, Kentucky and more
Voters are going to the polls Tuesday for primaries in several states, including the most expensive House primary in history.
Exclusive
Chinese companies probed over cuts to shipping container production before pandemic
Investigators have been looking at a handful of Chinese firms that together control the majority of unrefrigerated shipping container manufacturing around the globe, the sources said.
Why has the U.K. had 6 prime ministers in less than 10 years?
Political chaos has engulfed Britain, with six people holding the U.K.'s top job in a decade, including one prime minister who lasted only 45 days.
U.S.
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Polymarket to let users make prediction market bets on private companies
Polymarket users can now trade on private companies' valuations, IPOs and secondary market activity.
The 10 most affordable U.S. cities to buy a home
Buyers can still find lower-cost homes in some midsize cities, especially across the Rust Belt and Sun Belt, a new analysis finds.
AI sparks backlash from new graduates. How deep does the disapproval go?
Many Americans are signaling disapproval of the technology amid fears that it will eclipse already competitive entry-level jobs.
Trump endorses Paxton in Texas Senate race ahead of runoff
President Trump endorsed Texas Attorney General Ken Paxton on Tuesday in the Texas Senate race, seeking to bring to an end a costly contest just a week ahead of the scheduled runoff.
Exclusive
Chinese companies probed over cuts to shipping container production before pandemic
Investigators have been looking at a handful of Chinese firms that together control the majority of unrefrigerated shipping container manufacturing around the globe, the sources said.
MoneyWatch
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Polymarket to let users make prediction market bets on private companies
Polymarket users can now trade on private companies' valuations, IPOs and secondary market activity.
The 10 most affordable U.S. cities to buy a home
Buyers can still find lower-cost homes in some midsize cities, especially across the Rust Belt and Sun Belt, a new analysis finds.
AI sparks backlash from new graduates. How deep does the disapproval go?
Many Americans are signaling disapproval of the technology amid fears that it will eclipse already competitive entry-level jobs.
Mango founder Isak Andic's son arrested in his death
Police in Spain arrested the son of Isak Andic, the billionaire founder of the Spanish fashion brand Mango, for allegedly having played a role in his December 2024 death.
Eroding ACA enrollment portends higher insurance rates
An uptick in people skipping Obamacare premium payments in many states suggests the Affordable Care Act's rising costs are hitting home for 2026 enrollees.
Politics
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First on CBS
Federal prosecutors open new criminal probe into Maduro, sources say
There is concern among some in the Justice Department that the pending charges against him are weak, sources said.
Trump endorses Paxton in Texas Senate race ahead of runoff
President Trump endorsed Texas Attorney General Ken Paxton on Tuesday in the Texas Senate race, seeking to bring to an end a costly contest just a week ahead of the scheduled runoff.
Exclusive
Chinese companies probed over cuts to shipping container production before pandemic
Investigators have been looking at a handful of Chinese firms that together control the majority of unrefrigerated shipping container manufacturing around the globe, the sources said.
Who's who in Cuba's leadership? Here are the names to know.
President Trump has been openly mulling a takeover of Cuba similar to the operation that toppled Venezuela's Nicolás Madoro. What it would mean for the regime's leaders remains to be seen. Here are some of the figures to watch.
Exclusive
Troops say Army ignored request for more medical support before deadly attack
Survivors say they'd asked for more medical support before the Iranian drone strike that killed six U.S. soldiers at their command post in Kuwait in the war's first 24 hours.
HealthWatch
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Eroding ACA enrollment portends higher insurance rates
An uptick in people skipping Obamacare premium payments in many states suggests the Affordable Care Act's rising costs are hitting home for 2026 enrollees.
Latest on American who contracted Ebola
A missionary doctor who was serving in Congo will receive treatment in Germany after testing positive for Ebola. Skyler Henry has the latest.
American doctor working in Congo tests positive for Ebola
An American medical missionary in the Democratic Republic of the Congo was evacuated after testing positive for Ebola.
Ebola strain in latest outbreak has no vaccine or treatment
The virus behind the latest Ebola outbreak is the Bundibugyo virus, which is less common and there is no vaccine or treatment.
U.S. announces Ebola-related travel restrictions amid outbreak in Congo, Uganda
The Trump administration announced it's restricting people who don't have U.S. passports from entering the country if they have been in Congo, South Sudan or Uganda amid the Ebola outbreak.
World
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First on CBS
Federal prosecutors open new criminal probe into Maduro, sources say
There is concern among some in the Justice Department that the pending charges against him are weak, sources said.
Who's who in Cuba's leadership? Here are the names to know.
President Trump has been openly mulling a takeover of Cuba similar to the operation that toppled Venezuela's Nicolás Madoro. What it would mean for the regime's leaders remains to be seen. Here are some of the figures to watch.
Iran stages mass weddings for couples ready for "self-sacrifice" in war
Iranian state media showed wedding ceremonies in Tehran for dozens of couples said to have volunteered for "self-sacrifice" in the war with the U.S.
Man gets death sentence for killing teen TikTok star in Pakistan
Sana Yousaf's murder in June drew nationwide condemnation and reignited debate over women's safety.
Exclusive
Troops say Army ignored request for more medical support before deadly attack
Survivors say they'd asked for more medical support before the Iranian drone strike that killed six U.S. soldiers at their command post in Kuwait in the war's first 24 hours.
Entertainment
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Soon-to-be mom Beanie Feldstein reveals sex of her baby
Actor Beanie Feldstein told "CBS Mornings" she and wife Bonnie-Chance Roberts are expecting a baby girl.
Beanie Feldstein on takeaways from kids' book
Actor Beanie Feldstein talks about the theme of her debut children's book, which focuses on the power of friendship. She also discusses becoming a parent soon and starring in a new film with Robert De Niro.
2-time "Survivor" contestant on 50th season
Rob Cesternino, a 2-time "Survivor" castaway, talks about the upcoming "Survivor 50" finale, who he think will make the final three and who is his favorite to win the game.
Hayden Panettiere opens up in new memoir
Golden Globe-nominated actor Hayden Panettiere shares her story and opens up about life in the spotlight as a young actor, postpartum depression and her healing journey.
5/17: Sunday Morning "By Design"
Jane Pauley hosts our annual look at design. Featured: Tiny homes in your backyard; Louis Vuitton; Adobe house construction; Finland's Marimekko; domino art; Philadelphia food favorites; chandeliers; Longwood Gardens; rare maps; and director Jon Favreau of "The Mandalorian and Grogu."
Technology
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Technology
Musk loses lawsuit against OpenAI
A California jury on Monday unanimously dismissed Elon Musk's lawsuit against OpenAI and its top executives. CBS News legal contributor Jessica Levinson breaks down the case.
Musk says he'll appeal OpenAI lawsuit dismissal
A California jury on Monday unanimously dismissed Elon Musk's lawsuit against OpenAI and Sam Altman. CBS News senior business and technology correspondent Jo Ling Kent reports.
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.
Jury unanimously dismisses Elon Musk's lawsuit against OpenAI
California jury dismissed all charges, finding that Musk missed the three-year statute of limitations to file suit.
Jury to start deliberations in OpenAI trial
A nine-person jury will begin deliberations Monday in Elon Musk's $150 billion civil lawsuit against OpenAI CEO Sam Altman. Rachel Metz, artificial intelligence reporter for Bloomberg, joins with more.
Science
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Live chicks hatched from artificial eggshell, biotech company says
Independent scientists say the technology, while impressive, lacks some components to be truly considered an artificial egg.
El Niño could bring "double whammy" of high tide flooding, NOAA warns
The upcoming El Niño could trigger frequent and widespread flooding in coastal areas around the United States, even when storms aren't actively taking place, scientists warn.
New dinosaur weighing as much as 9 elephants identified by scientists
The long-necked herbivore is the largest ever found in Southeast Asia, researchers said.
How a growing El Niño will affect 2026 hurricane season in Atlantic, Pacific
The last time an El Niño pattern occurred was in 2023, when the Eastern Pacific hurricane season produced 20 tropical systems.
NASA spacecraft to fly past Mars on voyage to rare metal asteroid
NASA's Psyche spacecraft will slingshot past Mars on Friday, on its way toward a rare metal-rich asteroid.
Crime
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Crime
San Diego Mayor Todd Gloria on mosque shooting
Mayor Todd Gloria joins CBS News to discuss Monday's shooting at the Islamic Center of San Diego that killed three people.
Security guard killed in San Diego Islamic Center shooting remembered as a hero
A security guard who was among the victims killed in a shooting at the Islamic Center of San Diego is being hailed for his heroism and bravery during the attack.
Student describes hearing mosque shooting
Video shows children fleeing the scene of a deadly shooting at the Islamic Center of San Diego on Monday. CBS News' Anna Schecter has the latest details.
Judge makes major ruling in Mangione case
A New York judge ruled on Monday on what critical evidence can be used in Luigi Mangione's state trial, including a gun and red notebook. Mangione is accused of killing UnitedHealthcare CEO Brian Thompson in 2024 and has pleaded not guilty.
Mosque shooting investigated as hate crime
The Islamic Center of San Diego shooting, where three were killed on Monday, is being investigated as a hate crime as more details emerge about the suspected shooters. Jonathan Vigliotti reports, and Michael Alcazar, a professor at John Jay College of Criminal Justice, joins CBS News with more insight.
Space
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SpaceX launches cargo ship to International Space Station
The International Space Station-bound SpaceX Cargo Dragon is loaded with 6,500 pounds of needed equipment, research gear and crew supplies.
NASA maps show Earth's brightest and darkest regions at night
Researchers expected to find "a gradual increase in artificial light at night," but instead saw "much more nuanced patterns," NASA said.
NASA spacecraft to fly past Mars on voyage to rare metal asteroid
NASA's Psyche spacecraft will slingshot past Mars on Friday, on its way toward a rare metal-rich asteroid.
UFO files reveal astronauts saw mysterious objects and lights in 1972
NASA's Apollo 17 crew reported seeing three mysterious dots and sparks that resembled fireworks, according to new files released by the Pentagon.
Pentagon begins releasing UFO files: "It's time the American people see"
Defense Secretary Pete Hegseth said in a statement that the documents "have long fueled justified speculation — and it's time the American people see it for themselves."
Latest Galleries
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Notable Deaths in 2026
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
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Latest CBS News Videos
Watch: Vance holds White House briefing
Vice President JD Vance took questions on several different topics Tuesday during the White House press briefing. Following the briefing, CBS News correspondent Natalie Brand provided more context.
Early takeaways from Blanche Senate testimony
Acting Attorney General Todd Blanche faced tough questions from senators Tuesday on a number of different issues. CBS News congressional correspondent Nikole Killion has more.
Trump: "I was an hour away" from striking Iran
President Trump told reporters Tuesday that he was "an hour away" from making a decision to order new strikes on Iran, but decided not to at the request of Persian Gulf allies. CBS News correspondent Natalie Brand has more.
U.S. probes Chinese companies
Investigators are looking into Chinese firms that allegedly slowed shipping container production in 2019, just before the COVID-19 pandemic erupted. CBS News' Jake Rosen has more.
Breaking down Kentucky's heated House primary
President Trump is pulling no punches as he backs former Navy SEAL Ed Gallrein against incumbent GOP Rep. Thomas Massie in the primary for Kentucky's 4th Congressional District. CBS News White House reporter Aaron Navarro has more.