Fed rate hikes are over, economists say. Here's the impact on your money.
The central bank has pushed pause after 11 straight interest-rate hikes. Here are steps to take with your money now.
Federal Reserve
Fed leaves interest rate unchanged, but hints at cuts for 2024
In its last rate decision of 2023, the central bank said it is holding its benchmark rate steady amid cooling inflation.
Federal Reserve to decide on interest rates
The Federal Reserve on Wednesday will announce another decision on interest rates with the expectation it will not raise or cut them. CBS News contributor and Axios' managing editor of business and markets Javier David joins CBS News with his analysis.
U.S. economy growing faster than expected
The U.S. gross domestic product — the broadest measure of economic activity — grew a revised 5.2% in the third quarter of 2023. That's the highest quarterly GDP growth in nearly two years, according to the Bureau of Economic Analysis. Reade Pickert, Federal Reserve editor for Bloomberg, joins CBS News to unpack the state of the economy.
How Fed may respond to low October inflation
The Labor Department says the rate of inflation — which measures how much prices are rising — fell to 3.2% in October. Frances Stacey, director of strategy at Optimal Capital, joins CBS News to discuss what this means for your wallet and the country's financial outlook.
What the Fed rate pause means for your wallet
The Federal Reserve on Wednesday left interest rates steady for a second consecutive time. CBS News senior business and technology correspondent Jo Ling Kent explains what that means for Americans.
Why the Fed left interest rates unchanged
The Federal Reserve on Wednesday held its benchmark interest rate steady for a second consecutive time while upgrading its view of the U.S. economy and leaving open the possibility of additional rate hikes should inflation quicken in coming months. David Wessel, director of the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution, joined CBS News to discuss the reasoning behind the decision.
October jobs report falls short
Fewer jobs than analysts expected were added last month, and the country's unemployment rate ticked up to 3.9%, the highest it has been since Jan. 2022. The report comes after the Federal Reserve held interest rates steady earlier this week. Jo Ling Kent explains what this means for your wallet.
Unchanged rates impact small businesses
Americans are grappling with the repercussions of sustained high interest rates, which have been hovering just over 5% since July – the highest in decades. The Federal Reserve's decision Wednesday to keep rates steady signals continued challenges for those looking to borrow. CBS News' Jo Ling Kent reports.
Federal Reserve leaves rates unchanged
The latest decision by the Federal Reserve to hold off on increasing interest rates any further may signal that the U.S. economy is moving in the right direction. CBS News business analyst Jill Schlesinger and J.D. Durkin, a host for the financial news site "TheStreet," join CBS News to discuss the decision.
Fed to issue interest rate decision Wednesday
Federal Reserve Chairman Jerome Powell will issue the central bank's latest decision on interest rates Wednesday after pausing rate hikes in September. Greg Robb, a senior reporter and economics editor for MarketWatch, joined CBS News to discuss how the Fed will make its decision.
Some Americans are seeing large wealth gains. Here's who is benefiting.
Many U.S. households saw their wealth jump during the pandemic, new data shows. Here's how much the typical family is worth.
Oil prices surge amid Israel-Hamas war
Oil prices rose 5% Friday amid the war between Israel and Hamas. J.D. Durkin, host of "The Street," joins CBS News to discuss what the spike means for U.S. investors.
Jobs soared beyond expectations this month
Businesses are still hiring at a high rate as consumer spending remains robust. Colby Smith, a U.S. economics editor for the Financial Times, joins CBS News with some of the indicators of where the economy is headed next.
Job openings rise unexpectedly, data shows
Jobs in the United States rose higher than experts predicted, according to new August data released Tuesday. Carleton English, a reporter at Barron's, joins CBS News ahead of new unemployment data expected on Friday.
Stock futures up after shutdown averted
Wall Street index futures kicked off October on a high note after lawmakers averted a government shutdown. Investors will wait to hear from Federal Reserve Chair Jerome Powell on Monday for more on the central bank's interest-rate path. CBS News contributor Javier David, managing editor for business and markets at Axios, has more.
Tracking the impact of interest rate hikes
The average interest rate on a credit card in November 2021 was 16.4%. As of September, the average credit card interest rate is nearly 24.5%. Javier David, managing editor at Axios, joined CBS News to discuss other ways rising interest rates are putting pressure on Americans.
$10,000 bill sells for nearly half a million dollars at Texas auction
A vintage banknote and an even older coin collectively sold for nearly $1 million at a multi-day bidding event in Dallas.
Home sales down 15% from 2022, data shows
Existing home sales fell almost 1% in August and were down about 15% over the past year, according to new data from the National Association of Realtors. Aarthi Swaminathan, personal finance reporter for MarketWatch, joined CBS News to discuss the numbers.
U.K. pauses interest rate hikes, joining U.S.
The Bank of England followed the U.S. Federal Reserve's lead Thursday, leaving interest rates unchanged for the first time in nearly two years, but the U.K.'s rate remains at a 15-year high of 5.25%. Martin Baccardax, senior editor and chief markets correspondent for financial news website TheStreet, joins CBS News to talk about the pause in rate hikes.
High mortgage rates creating challenges for buyers
With mortgage rates hovering above 7% for five straight weeks, prospective buyers are facing a housing shortage as would-be sellers seek to keep their low, locked-in rates. Nancy Chen has details.
Federal Reserve pauses interest rate hikes — for now
The central bank is leaving interest rates unchanged after 11 hikes since March 2022, which has boosted borrowing costs for millions of Americans.
Federal Reserve holds interest rates steady
The Federal Reserve opted not to raise interest rates Wednesday, despite the recent uptick in the inflation rate. CBS News business analyst Jill Schlesinger and CBS News senior White House and political correspondent Ed O'Keefe join Lilia Luciano and Lana Zak to discuss the central bank's decision.
Federal Reserve pauses interest rate hikes
The Federal Reserve left interest rates unchanged in its September meeting in spite of inflation accelerating in August and remaining above the central bank's target rate. CBS News business analyst Jill Schlesinger and CBS News senior White House and political correspondent Ed O'Keefe have the latest.
Interest rate hike not expected this month
The Federal Reserve is expected to announce its decision on another possible interest rate hike Wednesday afternoon. Jeanna Smialek, a Federal Reserve and economics reporter for The New York Times, joined CBS News to discuss the chances of a rate increase.
Maps show where winter storm threatens to bring snow, brutal cold this weekend
Heavy snow, ice and brutal cold are expected to make this winter storm a potentially life-threatening weather event, stretching across two-thirds of the U.S.
ICE takes 5-year-old, dad after using boy as "bait," school district says
School district officials in Columbia Heights, Minnesota, say their sense of security is shaken and their hearts shattered after four students from the district have recently been taken by officers with Immigration and Customs Enforcement.
Russia not backing down from demand for Ukraine to abandon territory
While the first trilateral talks between Ukraine, Russia and the U.S. are a milestone, the issue of territorial concessions remains the key sticking point
5 arrested in connection with shooting of judge, wife in Indiana
Five people have been arrested in connection with the Sunday shooting of a judge and his wife in Indiana, according to authorities.
How Barron Trump became a remote witness in a U.K. rape case
A court hears that President Trump's youngest son called police to report an ongoing attack on a female friend in Britain after seeing it on a video chat.
Winter storm already disrupting U.S. travel as airlines cancel flights
Delta said it is canceling flights at some airports in Texas, Oklahoma and other states because of the massive winter storm expected to blast much of the U.S.
Exclusive
Magistrate judge rejects charges against Don Lemon over church protest
The Justice Dept. suggested independent journalist Don Lemon could be charged after he was seen in video of a protest inside a church in St. Paul on Sunday.
TikTok finalizes deal with China to avoid U.S. ban, White House official says
A year ago, a law that effectively banned TikTok in the U.S. went into effect, though President Trump has not enforced it.
Slavery displays removed from Philadelphia historical site after Trump directive
A series of informational signs about slavery was removed Thursday from the President's House historical site in Philadelphia.
U.S.
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American chess grandmaster's cause of death revealed
Daniel Naroditsky, a chess star and streamer credited with helping expand the game's audience, was found dead at his home in North Carolina in October.
"Heated Rivalry" boosting demand for NHL tickets, SeatGeek says
Sales of tickets to NHL games jumped more than 20% after the hit HBO show debuted in the fall, according to ticket vendor.
Winter storm already disrupting U.S. travel as airlines cancel flights
Delta said it is canceling flights at some airports in Texas, Oklahoma and other states because of the massive winter storm expected to blast much of the U.S.
5 arrested in connection with shooting of judge, wife in Indiana
Five people have been arrested in connection with the Sunday shooting of a judge and his wife in Indiana, according to authorities.
Race is on to rescue some 200 dogs from Mississippi property before storm hits
Animal advocates are racing to rescue more than 200 dogs from a rural Mississippi property before a massive winter storm is forecast to hit.
MoneyWatch
More MoneyWatch
"Heated Rivalry" boosting demand for NHL tickets, SeatGeek says
Sales of tickets to NHL games jumped more than 20% after the hit HBO show debuted in the fall, according to ticket vendor.
Winter storm already disrupting U.S. travel as airlines cancel flights
Delta said it is canceling flights at some airports in Texas, Oklahoma and other states because of the massive winter storm expected to blast much of the U.S.
Most families don't earn nearly enough to afford child care, study finds
"Child care costs are just incredibly daunting for all but the wealthiest Americans," one financial expert said.
TikTok finalizes deal to form new U.S. entity to avoid ban
A year ago, a law that effectively banned TikTok in the U.S. went into effect, though President Trump has not enforced it.
Microsoft says outage affecting several services has been resolved
Microsoft services were down for thousands of users, according to tracking service Downdetector.
Politics
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Vance acknowledges Minnesota Department of Corrections cooperating with ICE
Vice President JD Vance's acknowledgement came after he implored state leaders to help deescalate the situation in Minneapolis.
Trump says Board of Peace is withdrawing its invite to Canada
President Trump said Thursday that Canada is no longer invited to join his international Board of Peace, following days of tension between the president and the U.S.'s northern neighbor.
Judge skeptical of Trump's arguments he has proper authority to build ballroom
A historic preservation nonprofit is trying to block ongoing construction of Trump's new White House ballroom.
U.S. completes withdrawal from World Health Organization
One year after President Trump announced it, the U.S. has finalized its withdrawal from the World Health Organization. Infectious disease experts call the decision "scientifically reckless."
White House posts an altered photo of Minnesota protester's arrest
The image, which an expert said was likely altered with AI, sparked backlash online. The White House doubled down, saying, "The memes will continue."
HealthWatch
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Loss of measles-free status would be "cost of doing business," new CDC deputy says
After a year of ongoing measles outbreaks that have sickened more than 2,400 people, the United States is poised to lose its status as a measles-free country.
Measles cases surge in South Carolina as U.S. risks elimination status
An infectious disease physician and former CDC official said he does not "have faith" that the U.S. is "handling measles very well."
Tylenol not linked to autism, new study shows
A review of studies published in The Lancet found no link between acetaminophen use during pregnancy and autism, contradicting the Trump administration's recent claims.
Woman gets her life back after rare transplant: "Prepared for the worst"
Lacy Cornelius Boyd needed IV nutrition and an ileostomy bag after a devastating car crash. A rare transplant was her only option.
Study finds no link between Tylenol and autism
A new analysis of dozens of peer-reviewed medical studies found no link between the use of Tylenol during pregnancy and diagnoses of autism, ADHD or intellectual disabilities in children.
World
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Rower in 3,000-mile race rescued in the dark of night, hours after capsizing
Benoit Bourguet, 47, was competing in a rowing race from Spain to Antigua when large waves capsized his single-man vessel.
How Barron Trump became a remote witness in a U.K. rape case
A court hears that President Trump's youngest son called police to report an ongoing attack on a female friend in Britain after seeing it on a video chat.
Russia not backing down from demand for Ukraine to abandon territory
While the first trilateral talks between Ukraine, Russia and the U.S. are a milestone, the issue of territorial concessions remains the key sticking point
U.K. man accused of drugging, raping ex-wife for years to appear in court
Joanne Young has waived her right to anonymity as her ex-husband and five other men face trial for allegedly sexually abusing her over 13 years.
Beauty salon, others sanctioned for trafficking cocaine to U.S.
The sanctions target family-operated companies, including Magic Esthetic Salon, linked to alleged drug trafficking and money laundering.
Entertainment
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Entertainment
"Sinners" breaks Oscar nominations record
"Sinners" set an all-time record for the most Oscar nominations with 16, including for best picture. Not far behind is "One Battle After Another" with 13 nominations. Meanwhile, "Wicked: For Good" received zero nominations, even in categories where the first "Wicked" movie won just last year.
"Heated Rivalry" boosting demand for NHL tickets, SeatGeek says
Sales of tickets to NHL games jumped more than 20% after the hit HBO show debuted in the fall, according to ticket vendor.
Jessica Williams talks new "Shrinking" season
Jessica Williams joins "CBS Mornings" to discuss the upcoming season of "Shrinking," which follows a therapist as he navigates life after the loss of his wife. She talks about her character, how her own mental health helps shape the role, and working with Michael J. Fox and Harrison Ford.
Breaking down Oscar nominations
The nominees for the 98th Academy Awards have been revealed. Fandango and Rotten Tomatoes correspondent Erik Davis breaks down the major Oscar categories.
2026 Academy Award snubs and surprises: Who did Oscar leave out?
Among the names missing when the 98th Academy Award nominations were announced were Ariana Grande, George Clooney, Paul Mescal, Denzel Washington, and anyone associated with "Wicked: For Good."
Technology
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Microsoft says outage affecting several services has been resolved
Microsoft services were down for thousands of users, according to tracking service Downdetector.
Snapchat's parent company settles lawsuit
Snapchat's parent company, Snap Inc., settled a lawsuit surrounding allegations of social media addiction burdening users. CBS News' Shanelle Kaul 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.
Elon Musk says at Davos that robots will one day outnumber people
The billionaire CEO of Tesla and SpaceX, in his first appearance at Davos, said Tesla could start selling its Optimus robots next year.
YouTube looks to get rid of fake AI videos
YouTube says it wants to get rid of fake AI videos flooding social media feeds on its platform. CBS News MoneyWatch correspondent Kelly O'Grady explains what's driving the change.
Science
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Science
Almanac: January 18
"Sunday Morning" looks back at historical events on this date.
Fossils found at Dinosaur National Monument, first excavation in 100 years
The Dinosaur National Monument, which is located on the border between Colorado and Utah, was last excavated in 1924.
Dogs can learn by eavesdropping: study
Have you ever wondered if your dog is eavesdropping on you? A new study published in the Journal of Science found that some dogs are not only listening, but are also learning words. Lead scientist Dr. Shany Dror joins CBS News to discuss.
Fossils found in cave shed light on where our species emerged
Fossilized bones and teeth dating to 773,000 years ago are providing a deeper understanding of the emergence of Homo sapiens.
The history and mystery of kissing
If you rang in the new year with a kiss, you took part in a tradition millions of years in the making. Scientists now say the origins of kissing go back much farther than most think. CBS News' Tina Kraus has more.
Crime
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Crime
Luigi Mangione is headed back to court
Luigi Mangione, the man accused of killing UnitedHealthcare CEO Brian Thompson, will be back in court Friday for more discussions on potential evidence for his trial. CBS News' Katrina Kaufman reports.
U.K. man accused of drugging, raping ex-wife for years to appear in court
Joanne Young has waived her right to anonymity as her ex-husband and five other men face trial for allegedly sexually abusing her over 13 years.
Beauty salon, others sanctioned for trafficking cocaine to U.S.
The sanctions target family-operated companies, including Magic Esthetic Salon, linked to alleged drug trafficking and money laundering.
ICE memo on searches without judicial warrant
A whistleblower complaint revealed that an internal ICE memo authorizes officers to enter homes in some instances without a judicial warrant. CBS News' Camilo Montoya-Galvez explains.
Accused crime boss "El Botox" arrested in murder of lime growers' leader
Officials said there were 11 arrest orders for "El Botox" for extortion and homicide. He was accused of attacking authorities with explosives.
Space
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Space
More on Virgin Galactic all-female space crew
Virgin Galactic is sending an all-female research team to space. Kellie Gerardi, who is leading the crew, joins "CBS News 24/7 Mornings" to discuss the goals of the mission.
NASA's Artemis II mission clears big hurdle
Inch by inch, NASA's Artemis II moon rocket lumbered along its four-mile commute from the Vehicle Assembly Building to launch pad 39-B. Mark Strassmann is at the Kennedy Space Center in Florida with more.
NASA hauls Artemis II moon rocket to launch pad for February flight
Four Artemis II astronauts plan to fly around the moon and back next month, traveling farther from Earth than any humans before them.
NASA begins Artemis II rollout to launchpad
NASA is beginning its rollout of its Space Launch System rocket and Orion spacecraft as preparations for the Artemis II mission enter their final stage.
NASA moon rocket ready for trip to launch pad
Depending on the timing, NASA could launch a fresh crew to the space station while four other astronauts are flying around the moon.
Latest Galleries
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Notable Deaths in 2025
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
More Latest CBS News Videos
Latest CBS News Videos
"Sinners" breaks Oscar nominations record
"Sinners" set an all-time record for the most Oscar nominations with 16, including for best picture. Not far behind is "One Battle After Another" with 13 nominations. Meanwhile, "Wicked: For Good" received zero nominations, even in categories where the first "Wicked" movie won just last year.
How to prepare your home for the winter storm
Tens of millions of Americans will feel the impact of the massive winter storm that's expected to bring ice, snow and frigid temperatures. People are advised to stay off the roads and prepare their homes to prevent any potential damage.
Million of Americans brace for winter storm
Dangerously cold temperatures could slam half of America over the weekend, bringing icy conditions, frigid cold and heavy snow to parts of the country. CBS News' Jason Allen reports, and Kris Van Cleave has more on the travel impact.
Jack Smith defends handling of Trump probes
Former special counsel Jack Smith testified publicly for the first time Thursday, defending his historic criminal case against President Trump to lawmakers. Scott MacFarlane reports.
Luigi Mangione is headed back to court
Luigi Mangione, the man accused of killing UnitedHealthcare CEO Brian Thompson, will be back in court Friday for more discussions on potential evidence for his trial. CBS News' Katrina Kaufman reports.