Is the Fed likely to finally cut interest rates at this week's meeting?
President Trump has pressured Fed Chair Jerome Powell to lower interest rates. Here's what the experts think will happen at today's monetary policy meeting.
Federal Reserve
Expectations for July interest rate decision
The Federal Reserve is set to announce its July interest rate decision on Wednesday. CBS News business contributor Javier David has more details on what to expect.
Investors await key economic data
Investors are awaiting the release of key second-quarter data and the Federal Reserve's next decision on interest rates as President Trump's Aug. 1 tariff deadline looms. CBS News business contributor Javier David has more on what to expect.
Vought on Project 2025 and the Fed: "Don't even know what that chapter says"
Project 2025 lays out an overhaul of the Fed, saying "Congress should limit its mandate to the sole objective of stable money."
Open: "Face the Nation," July 27, 2025
This week on "Face the Nation with Margaret Brennan," director of the U.S. Office of Management and Budget, Russell Vought, joins to discuss President Trump's trip to a Federal Reserve facility with Fed Chair Jerome Powell ahead of his departure for Scotland. Meanwhile, The Ohio State University President Ted Carter joins to explain how he's handling a new era of higher education amid the Trump administration's push to assert control over private and public institutions across the U.S.
Powell disagrees with Trump about cost of changes to Fed construction
President Trump visited the Federal Reserve's headquarters in Washington, keeping up the intense pressure he's been putting on Fed chair Jerome Powell.
Breaking down dispute between Trump and Powell
President Trump visited the Federal Reserve and raised the issue of cost overruns in construction of new facilities there. It was a new front in Trump's extended campaign to pressure Powell, who he says has been too slow to lower interest rates. Kelly O'Grady explains.
Trump and Powell clash over Fed renovations
President Trump and Federal Reserve Chair Jerome Powell had a disagreement almost immediately as the two men set foot in the Fed's headquarters in Washington on Thursday to survey an extensive renovation project on two of the reserve's buildings. Nancy Cordes has more.
Trump, Powell meet amid tensions
President Trump toured the Federal Reserve building today alongside Federal Reserve Chair Jerome Powell. The visit comes as tensions run high between the two men. The president has repeatedly criticized Powell for not lowering interest rates and for the high cost of ongoing renovations. CBS News White House reporter Aaron Navarro has more.
Takeaways from Trump's Federal Reserve tour
President Trump visited the Federal Reserve on Thursday to tour its multi-billion-dollar renovation project. It comes amid his repeated public attacks on Fed Chair Jerome Powell. CBS News MoneyWatch correspondent Kelly O'Grady reports.
Johnson on Trump potentially firing Powell
House Speaker Mike Johnson told CBS News chief Washington correspondent Major Garrett that he understood President Trump's frustration with Federal Reserve Chairman Jerome Powell, adding that it's going to be "a rocky road" for the Fed chair between now and the end of his term in May 2026. CBS News MoneyWatch correspondent Kelly O'Grady and Barron's senior writer Martin Baccardax join with analysis.
Trump, Powell argue over Fed renovation costs
President Trump toured renovations at the Federal Reserve headquarters with Chair Jerome Powell on Thursday. The visit comes amid the president's criticism of Powell over the central bank holding interest rates steady. CBS News MoneyWatch correspondent Kelly O'Grady has more.
Trump visiting Federal Reserve
President Trump is visiting the Federal Reserve on Thursday as he continues to pressure Fed Chair Jerome Powell to cut interest rates. CBS News' Nancy Cordes has more.
Congresswoman refers Fed Chair Powell to DOJ
As tensions remain high between the White House and the central bank, a Republican congresswoman is hitting Federal Reserve Chair Jerome Powell with a criminal referral to the Justice Department. CBS News MoneyWatch correspondent Kelly O'Grady joins to examine the disconnect between the Trump administration and the Fed.
What does the Federal Reserve do, and why is Trump unhappy with chair Powell?
President Trump floated the idea of firing Jerome Powell — whom he first appointed Federal Reserve chair — earlier this week, after years of on-and-off criticism over interest rates.
Trump official criticizes Fed chief Powell as Trump takes aim over interest rates
A top White House budget official said President Trump is "troubled" by Federal Reserve chair Jerome Powell's management, as Mr. Trump pressures him over interest rates.
Sen. Kennedy warns Trump not to fire Powell
President Trump said Wednesday it's "highly unlikely" that he would fire Jerome Powell, but he continued to air his frustrations with the Federal Reserve chair. CBS News MoneyWatch correspondent Kelly O'Grady has more.
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Trump asked GOP lawmakers if he should fire Fed Chair Jerome Powell
President Trump has lashed out against Federal Reserve Chair Jerome Powell for weeks.
Trump frustrations with Powell intensifying
President Trump has relentlessly criticized Fed Chair Jerome Powell for not cutting interest rates. Tuesday night, he privately floated firing Powell. Nancy Cordes reports.
Trump says it is unlikely he will fire Powell
President Trump is escalating his feud with the man he selected to lead the Federal Reserve back in 2017. Mr. Trump told reporters at the White House on Wednesday that Fed Chair Jerome Powell has done a "terrible job" leading the nation's top bank. CBS News senior White House correspondent Weijia Jiang has more.
Sen. Warren defends Powell amid Trump attacks
Democratic Sen. Elizabeth Warren of Massachusetts, a longtime critic of Jerome Powell, is speaking out against President Trump's threats to fire the Fed chair. Warren joins "The Takeout" to explain her position and take stock of Mr. Trump's economy.
Trump on firing Powell: "Highly unlikely"
President Trump on Tuesday night privately floated firing Federal Reserve Chairman Jerome Powell, then publicly backed away on Wednesday. CBS News chief White House correspondent Nancy Cordes reports.
Trump meets with Bahrain's crown prince
President Trump took questions from reporters during a meeting in the Oval Office with Bahrain Crown Prince Salman bin Hamad Al Khalifa. Mr. Trump said it's "highly unlikely" he would fire Federal Reserve Chairman Jerome Powell after reports emerged he had asked GOP lawmakers if he should do it. CBS News' Ed O'Keefe discusses after the meeting.
Trump toying with firing Powell, sources say
President Trump asked a group of House Republicans if he should fire Federal Reserve Chairman Jerome Powell, multiple sources told CBS News. CBS News' Caitlin Huey-Burns has more.
Inflation uptick's effect on interest rates
New data from the Labor Department shows inflation ticked up to its highest level since February in June with consumer prices rising at an annual rate of 2.7%. CBS News MoneyWatch correspondent Kelly O'Grady has more.
Live
Iran says it's ready to "teach a lesson" if U.S. launches new attacks
Iran warns any new U.S. attacks will bring a "bad result," as President Trump acknowledges the ceasefire is faltering and violence flares in Lebanon.
Trump on "the only thing that matters" in dealing with Iran
President Trump said Americans' financial situation isn't motivating him to make a deal, "Not even a little bit," and that he is only focused on preventing Iran from getting nuclear weapons.
Exclusive
Ukraine and U.S. move toward landmark drone defense deal
A deal is taking shape for the U.S. and Ukraine to jointly develop and build weapons that have been at the forefront of the wars in both Ukraine and Iran.
Trump administration to name David Venturella as interim ICE chief
The Trump administration plans to name longtime immigration official David Venturella as the interim head of U.S. Immigration and Customs Enforcement, replacing acting director Todd Lyons, a spokesperson and two U.S. officials said.
Jason Collins, the NBA's first openly gay player, dies at 47 from brain cancer
Jason Collins, the NBA's first openly gay player, who went on to become a pioneer for inclusion and an ambassador for the league, has died, his family announced Tuesday.
Florida's "Alligator Alcatraz" could close in June, sources say
The closure comes amid escalating operating costs for the facility, which are now estimated to total nearly $1 billion.
Brandon Clarke of the Memphis Grizzlies dies at age 29
Memphis Grizzlies forward Brandon Clarke has died at the age of 29, the team announced.
Data reveals 42% drop in Canadian visits to U.S. last year
University of Toronto researchers say cellphone data shows a major drop not only in Canadian tourists visiting the U.S., "but also in business-related travel."
Trump heads to China for high-stakes meeting with Xi
Trade, Taiwan and tensions with Iran are surefire topics for President Trump's meeting with Chinese leader Xi Jinping.
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Sons of Kouri Richins say they'd feel unsafe if she wasn't in prison
Prosecutors said Kouri Richins laced her husband's cocktail with five times the lethal dose of fentanyl in 2022.
Jason Collins, the NBA's first openly gay player, dies at 47 from brain cancer
Jason Collins, the NBA's first openly gay player, who went on to become a pioneer for inclusion and an ambassador for the league, has died, his family announced Tuesday.
Will Trump seek investment to join China in a "dark factory" future?
A Chinese manufacturing giant tells CBS News how its sprawling factory runs with a fraction of the human workforce previously required.
Florida's "Alligator Alcatraz" could close in June, sources say
The closure comes amid escalating operating costs for the facility, which are now estimated to total nearly $1 billion.
Trump on "the only thing that matters" in dealing with Iran
President Trump said Americans' financial situation isn't motivating him to make a deal, "Not even a little bit," and that he is only focused on preventing Iran from getting nuclear weapons.
MoneyWatch
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Will Trump seek investment to join China in a "dark factory" future?
A Chinese manufacturing giant tells CBS News how its sprawling factory runs with a fraction of the human workforce previously required.
Businesses starting to receive their IEEPA tariff refunds
"I'd been checking the status feverishly to see if anything was in my bank account," one small business owner said.
Searing U.S. energy prices are driving the hottest inflation in years
CPI gas price index has surged 28% from a year ago, while overall energy costs are up nearly 18%, new inflation data shows.
Social Security's cost-of-living adjustment could reach nearly 4% in 2027
A larger COLA would boost monthly checks for retirees, but also strain Social Security's already depleted trust funds.
Senate confirms Kevin Warsh as Fed governor, clearing path to become chair
The Senate has confirmed Kevin Warsh to the Federal Reserve's Board of Governors, a crucial step in President Trump's push to make Warsh the central bank's leader, replacing Jerome Powell.
Politics
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Trump administration to name David Venturella as interim ICE chief
The Trump administration plans to name longtime immigration official David Venturella as the interim head of U.S. Immigration and Customs Enforcement, replacing acting director Todd Lyons, a spokesperson and two U.S. officials said.
Florida's "Alligator Alcatraz" could close in June, sources say
The closure comes amid escalating operating costs for the facility, which are now estimated to total nearly $1 billion.
Trump on "the only thing that matters" in dealing with Iran
President Trump said Americans' financial situation isn't motivating him to make a deal, "Not even a little bit," and that he is only focused on preventing Iran from getting nuclear weapons.
Marty Makary resigns as FDA commissioner after internal tensions
FDA Commissioner Marty Makary resigned his position, stepping aside amid a swirl of reports that his tenure was coming to an end.
Senate confirms Kevin Warsh as Fed governor, clearing path to become chair
The Senate has confirmed Kevin Warsh to the Federal Reserve's Board of Governors, a crucial step in President Trump's push to make Warsh the central bank's leader, replacing Jerome Powell.
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How can movement boost your brain health?
A recent survey by the Alzheimer's Association found most adults think maintaining brain health is very important, but they don't know what steps to take. (Sponsored by the Alzheimer's Association.)
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How exercise can improve brain health
Daily physical activity is one of the important steps to building healthy habits to lower the risk of dementia. As part of a three-part series, "Brain Health: From Awareness to Action," Alzheimer's Association President and CEO Joanne Pike joins "CBS Mornings" with tips on incorporating exercise into your routine as part of their "(re)think your brain" initiative. Learn more about their "6-Step Challenge" at rethinkyourbrain.org (Sponsored by the Alzheimer's Association)
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Parents sue OpenAI over teen's death after he used ChatGPT to get drug info
A Texas couple is filing a lawsuit accusing the AI company of guiding their teenage son in using drugs, resulting in a fatal overdose.
WHO chief says "work not over" after evacuation of hantavirus-stricken ship
The head of the World Health Organization says "our work is not over" to contain hantavirus after evacuations from a cruise ship hit by a deadly outbreak of the illness.
Americans from hantavirus ship quarantining
The 18 Americans who were aboard a hantavirus-stricken cruise ship have returned to the U.S. and are now in quarantine. One remains in the biocontainment unit at the University of Nebraska Medical Center after testing positive. Ian Lee has more.
World
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Will Trump seek investment to join China in a "dark factory" future?
A Chinese manufacturing giant tells CBS News how its sprawling factory runs with a fraction of the human workforce previously required.
Putin says Russia test launches "most powerful missile in the world"
Russia tested a new long-range missile capable of carrying nuclear warheads, months after the last treaty with the U.S. expired.
U.K. Prime Minister Keir Starmer rejects mounting calls to resign
Despite a fifth of British Prime Minister Keir Starmer's fellow Labour Party lawmakers calling on him to step down, he says he'll "get on with governing."
Data reveals 42% drop in Canadian visits to U.S. last year
University of Toronto researchers say cellphone data shows a major drop not only in Canadian tourists visiting the U.S., "but also in business-related travel."
Lawmakers press Hegseth on details on Iran war authorization, ceasefire
Defense Secretary Pete Hegseth said the $1.5 trillion the Pentagon is seeking is "admittedly a historic budget."
Entertainment
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Entertainment
Stars of "Dutton Ranch" on reprising roles
Kelly Reilly and Cole Hauser, the stars and executive producers of "Dutton Ranch," sit down with "CBS Mornings" to talk about reprising their "Yellowstone" roles for the series spinoff. The series premieres May 15 on Paramount+.
Dua Lipa alleges Samsung uses copyrighted image of her to sell TVs
Pop singer accuses electronics manufacturer Samsung of using a copyrighted image of her face to sell TVs.
Annette Bening talks "Dutton Ranch"
Annette Bening talks about starring in the "Yellowstone" spinoff "Dutton Ranch," why she wanted to play her character and learning to ride a horse for the role.
Matt Damon and Ben Affleck sued over movie
Inspired by a true story, Netflix's "The Rip," starring Ben Affleck and Matt Damon, follows two Miami-Dade police officers as they discover more than $20 million of cartel cash during a drug raid and reveals corruption within the department. But now the real-life officers involved in the raid are suing Damon and Affleck through their production company. Carter Evans reports.
5/10: Sunday Morning
Hosted by Jane Pauley. Featured: The Supreme Court ushers in a new era of gerrymandering; the legacy of CBS News Radio; motherless daughters; comedian Martin Short; rebuilding L.A.; remembering Ted Turner; and Martha Stewart prepares a Mother's Day breakfast.
Technology
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Technology
White House invites business titans on China trip
The White House invited 16 top U.S. executives to join President Trump on his trip to China. CBS News contributor Patrick McGee joins "The Takeout" to discuss what the move could signal to Beijing.
Latest details on Musk-OpenAI court battle
OpenAI CEO Sam Altman took the stand on Tuesday to defend himself against a lawsuit brought by his former business partner, Elon Musk. Paresh Dave, senior writer for Wired, joins to unpack the case so far.
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.
Sam Altman testifies in Musk-OpenAI trial
OpenAI CEO Sam Altman took the stand Tuesday in Elon Musk's high-profile lawsuit against Altman's company. Altman defended the company against Musk's allegations that OpenAI betrayed its founding mission by becoming a for-profit entity. New York Times tech reporter Natallie Rocha joins CBS News to discuss.
Trump-Xi summit expected to focus on trade, AI
President Trump departed the White House for Beijing on Tuesday to attend a summit with Chinese President Xi Jinping. Chris McGuire, senior fellow at the Council on Foreign Relations, joins CBS News to unpack the topics the leaders are expected to discuss.
Science
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Emperor penguins in focus as Antarctica talks start in Japan
Greater protections for endangered emperor penguins and how to manage growing tourism are topping the agenda at talks on Antarctica in Japan.
What's in the released UFO files?
The Pentagon released UFO documents on Friday, with President Trump telling the public to "have fun" deciding for itself what is going on. Carter Evans reports.
Trump: UFO files released for transparency
Defense Secretary Pete Hegseth said it's time for the American people see it for themselves, as the Pentagon started releasing previously classified documents related to UFOs and UAPs. CBS News Pentagon reporter Eleanor Watson has more.
"The Age of Disclosure" director on UFO files
The Pentagon on Friday released and declassified numerous files on UFOs, including eyewitness testimony, photos and reports. Government knowledge of non-human intelligent life was the subject of the documentary "The Age of Disclosure," released in February. Its director and producer, Dan Farah, joins CBS News to discuss.
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."
Crime
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Sons of Kouri Richins say they'd feel unsafe if she wasn't in prison
Prosecutors said Kouri Richins laced her husband's cocktail with five times the lethal dose of fentanyl in 2022.
New details about Boston-area highway gunman
The suspect who allegedly fired into a major road near Boston had prior criminal convictions. Jericka Duncan reports on new details about the shooting and the suspect.
Charges after Baltimore's Key Bridge collapse
The Justice Department announced criminal charges against the ship operator in the Francis Scott Key Bridge collapse that killed six people in 2024. CBS News' Shanelle Kaul has more.
Mayor faces prison time over alleged spying
Eileen Wang, the former mayor of Arcadia, California, faces a 10-year prison sentence for pleading guilty to acting as a covert agent for China. CBS News Los Angeles' Tina Patel has more.
Search for Nancy Guthrie reaches 100 days
The search for Nancy Guthrie has spanned 100 days, and key evidence in the case is still under analysis. CBS News' Anna Schecter reports.
Space
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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."
Mysterious world beyond Pluto may have atmosphere, study says
If confirmed, the rock would become just the second world past Neptune in our solar system to host an atmosphere.
Artemis crew surprises 5-year-old aspiring astronaut with special gift
The Artemis II team gained a new member, and the crew made sure their youngest teammate had the right stuff for space.
Artemis II crew reveals what snack they ate right after splashdown
The Artemis II astronauts said they actually really enjoyed the space food, but it was a familiar candy they enjoyed after splashing down in the Pacific Ocean.
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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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Lawmakers grill Pete Hegseth on Iran
Defense Secretary Pete Hegseth and Chairman of the Joint Chiefs of Staff Gen. Dan Caine faced bipartisan questioning on Capitol Hill about the war in Iran on Tuesday. The Trump administration is seeking $1.5 trillion for defense in the 2027 budget proposal, a starting point for negotiations. Hegseth called it "admittedly a historic budget" in his opening statement.
Highlights from previous Trump-Xi meetings
Wednesday will mark the seventh meeting between President Trump and Chinese President Xi Jinping. Watch CBS News' coverage of previous meetings between the world leaders through the years.
5/12: The Takeout with Major Garrett
President Trump heads to Bejing to meet with Xi Jinping; inflation surges to its highest level in nearly three years.
NAACP head on SCOTUS redistricting decision
Republican Alabama Gov. Kay Ivey is pushing back primaries for four Congressional districts following Monday's Supreme Court decision allowing the state to use a 2023 map with only one majority-Black district. Other states are also looking to redraw their maps after the decision. NAACP President and CEO Derrick Johnson joins "The Daily Report" to discuss.
Why health officials expect more hantavirus cases
Global health officials are warning that hantavirus cases stemming from a cruise ship outbreak could continue to rise. Dr. Abraar Karan, with Stanford University's division of infectious diseases, joins CBS News to discuss.