Why Fed may raise interest rates this year
The Federal Reserve's preferred inflation gauge climbed to 4.1% in May, its highest level in more than three years. Greg Robb, economics editor at MarketWatch, joins with analysis.
Federal Reserve
Key inflation gauge at highest level since 2023
The Federal Reserve's preferred inflation gauge climbed to 4.1% in May, its highest level in more than three years. Josh Schafer, Barron's Investor Circle Newsletter editor, joins with analysis.
Greenspan's "irrational exuberance" and politics
Alan Greenspan, who chaired the Federal Reserve under four U.S. presidents, died Monday at 100. In 1996, Greenspan warned about what he called "irrational exuberance." CBS News chief Washington correspondent Major Garrett explains how the phrase is exemplified in today's politics.
Alan Greenspan, Fed chair under 4 U.S. presidents, dies at age 100
Alan Greenspan's lengthy reign at the Federal Reserve coincided with a period of stability from the mid-1980s until 2007.
From the archives: Alan Greenspan on systematic fear in the economy
Alan Greenspan, who worked with four presidents during his 18-year tenure as chair of the Federal Reserve, died Monday, June 22, 2026, at age 100. In this Oct. 20, 2013 "Sunday Morning" profile, Greenspan talked with Anthony Mason about what he learned from overseeing the American economy during a period of sustained growth, prior to the 2008 collapse; how to measure irrational human behavior in predicting the market; and how America's economic system is built upon trust, saying, "You break trust down, and the system implodes." Mason also talked with Greenspan's wife, NBC journalist Andrea Mitchell, about her husband's obsession with writing.
Alan Greenspan dies at 100
Alan Greenspan, a former chair of the Federal Reserve, has died at the age of 100. Greenspan led the Fed under four U.S. presidents.
Oil prices drop for first time in months
Gas prices have dropped in reaction to President Trump signing a memorandum of understanding with Iran -- but they're still a dollar higher than they were before the war, according to AAA data. CBS News business analyst Jill Schlesinger explains how markets are reacting to global relations.
Warsh on reasons for interest rate decision
Federal Reserve Chair Kevin Warsh announced no change to interest rates at his first meeting. This comes as uncertainty remains on the Iran war, which has economically slammed the U.S. and other nations. Business Insider's Akin Oyedele has more.
Fed keeps interest rates steady
As was widely expected, the Federal Reserve unanimously voted to keep interest rates unchanged on Wednesday. CBS News coordinating producer Richard Escobedo has more details.
Federal Reserve holds interest rates steady but leaves door open to hike
U.S. inflation is expected to remain elevated through the end of the year, Fed officials say in their latest forecast.
Warsh announces plan to reshape Federal Reserve
The Federal Reserve unanimously voted Wednesday to keep interest rates unchanged. It was the first rate decision under the new chair, Kevin Warsh. CBS News MoneyWatch correspondent Kelly O'Grady has the details.
Dow falls after Fed holds interest rates steady
The Federal Reserve maintained its benchmark interest rate on Wednesday in its first meeting with Kevin Warsh as chair. CBS News MoneyWatch correspondent Kelly O'Grady reports from the New York Stock Exchange.
What to expect as Kevin Warsh leads his first Fed interest rate meeting
New Fed Chairman Kevin Warsh is stepping in at a critical juncture for the U.S. economy, with inflation at its highest level in more than three years.
Fed expected to keep interest rates steady
Investors expect the Federal Reserve to keep its current interest rate steady on Wednesday as new chair Kevin Warsh helms his first meeting. Barron's reporter Josh Schafer has more on Warsh and the rate decision.
Expectations of Fed interest rate decision
The Federal Reserve on Wednesday will hand down its first interest rate decision under its new chairman, Kevin Warsh. It comes as inflation continues to rise. Kelly O'Grady explains how the outcome could impact you.
Warsh prepares for Federal Reserve meeting
Federal Reserve Chair Kevin Warsh is set to lead his first meeting and announce what's next for the nation's interest rate. CBS News' Kelly O'Grady reports.
What May inflation signals about state of economy
Inflation in the U.S. accelerated in May to its highest level in more than three years. CBS News' Kelly O'Grady breaks down the numbers.
Breaking down May's inflation report
Inflation surged again in May due to high energy costs and supply constraints worsened by the Iran war. Madison Mills, a senior reporter at Axios, joins to discuss.
First inflation report under new Fed chief shows prices still rising
The personal consumption expenditures price index, the Federal Reserve's preferred gauge of inflation, jumped due to higher energy costs.
Kevin Warsh is now leading the Fed. His main challenge is a doozy.
Warsh is taking over as Fed chair as the U.S. faces the hottest inflation in years, impeding the interest rate cuts that President Trump has demanded.
Expert: Warsh has "difficult job in front of him"
President Trump on Friday hosted a swearing-in ceremony for the new Federal Reserve Chair, Kevin Warsh. Jon Hilsenrath, visiting scholar at Duke University, joins with analysis on what Warsh will face in the coming months.
Kevin Warsh sworn in as new Fed chair
Kevin Warsh was sworn in as the new Federal Reserve chair on Friday, replacing Jerome Powell. During the ceremony, President Trump insisted Warsh will remain independent as he navigates inflation and other U.S. economic concerns. CBS News' Ed O'Keefe and Emily Pandise report.
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.
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.
Live
Trump says U.S. has "total control" over Strait of Hormuz
President Trump said Wednesday that the U.S. has "total control" over the Strait of Hormuz, writing on social media: "I THINK WE WILL KEEP IT."
Karoline Leavitt exiting as White House press secretary
President Trump said Karoline Leavitt will be leaving her role to focus on her young family.
Trump's secret plane switch took place within a day of credible missile threat
President Trump secretly moved from Air Force One to another plane within a day of U.S. and Turkish intelligence picking up on an Iranian plot to fire a missile at the jet, CBS News has learned.
Surrogate gives birth to baby at center of multi-state legal battle
Surrogate McKenna West declined to get an abortion requested by the intended parents after the baby she was carrying was diagnosed with a severe but treatable heart defect.
Total solar eclipse darkens skies across Northern Hemisphere
The only total solar eclipse of 2026 is crossing the Northern Hemisphere today, with a path of totality across parts of Greenland, Iceland and northern Spain. See when and where it will be visible.
U.S. indicts former SPLC executive for her role in alleged fraud scheme
Prosecutors have accused the SPLC of telling donors and banks the group was dismantling white supremacist and extremist groups, but instead funneling payments to confidential informants in the groups to fund "violent, racist and extremist activities."
2 killed as Apache helicopter from Fort Hood crashes in Salado, Texas
Two soldiers aboard an AH-64 Apache attack helicopter based out of Fort Hood were killed in a crash on Wednesday, according to local authorities and the Army.
How the Secret Service is cracking down on card-skimming scams
A Secret Service analyst told CBS News a single skimming device can net a scammer up to $1 million.
Norah O'Donnell: I take testosterone. Here's why.
Norah O'Donnell sat down with her own doctor, Rachel Rubin, to tackle the important topic of menopause: How your body changes, why women may be needlessly suffering, and what you can actually do about it.
U.S.
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Whole Foods recalls some jalapeño products over salmonella risk
Certain salsas, guacamole, pico de gallo and prepared jalapeño products at Whole Foods are among the products recalled over possible salmonella risk.
2 killed as Apache helicopter from Fort Hood crashes in Salado, Texas
Two soldiers aboard an AH-64 Apache attack helicopter based out of Fort Hood were killed in a crash on Wednesday, according to local authorities and the Army.
U.S. indicts former SPLC executive for her role in alleged fraud scheme
Prosecutors have accused the Southern Poverty Law Center of telling donors and banks it was dismantling white supremacist and extremist groups, while funneling payments to confidential informants in the groups.
Karoline Leavitt exiting as White House press secretary
President Trump said Karoline Leavitt will be leaving her role to focus on her young family.
Maps and charts show record number of measles cases in U.S. this year
CBS News has been tracking a record number of measles cases and outbreaks around the country. The majority of cases are among those who haven't been vaccinated.
MoneyWatch
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Whole Foods recalls some jalapeño products over salmonella risk
Certain salsas, guacamole, pico de gallo and prepared jalapeño products at Whole Foods are among the products recalled over possible salmonella risk.
How much time does AI save at work? New Census Bureau data breaks it down.
New Census data shows how much faster workers can complete tasks when they enlist artificial intelligence for help.
Here's how much Social Security's 2027 COLA could rise under new estimates
Social Security's cost-of-living adjustment for 2027 is projected to be lower than previously forecast, according to new estimates.
NYC Council probes prediction markets over advertising practices
New York City lawmakers allege that four major prediction markets engage in deceptive marketing practices and target young adults.
CPI report shows inflation eased in July to a 3.4% annual pace
The CPI report was in line with economists' expectations, marking the second consecutive month with cooler price pressures.
Politics
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Trump's secret plane switch took place within a day of credible missile threat
President Trump secretly moved from Air Force One to another plane within a day of U.S. and Turkish intelligence picking up on an Iranian plot to fire a missile at the jet, CBS News has learned.
U.S. indicts former SPLC executive for her role in alleged fraud scheme
Prosecutors have accused the Southern Poverty Law Center of telling donors and banks it was dismantling white supremacist and extremist groups, while funneling payments to confidential informants in the groups.
Karoline Leavitt exiting as White House press secretary
President Trump said Karoline Leavitt will be leaving her role to focus on her young family.
11 charged for alleged sham marriages to help Chinese nationals get green cards
The DOJ unveiled criminal charges alleging 11 people participated in a scheme that involved more than 1,000 "sham marriages" between Chinese nationals and U.S. citizens.
First on CBS
Top Trump officials heading to Iowa to help GOP campaigns, sources say
The upcoming Iowa State Fair is a pivotal window of opportunity for candidates on the campaign trail.
HealthWatch
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Whole Foods recalls some jalapeño products over salmonella risk
Certain salsas, guacamole, pico de gallo and prepared jalapeño products at Whole Foods are among the products recalled over possible salmonella risk.
Maps and charts show record number of measles cases in U.S. this year
CBS News has been tracking a record number of measles cases and outbreaks around the country. The majority of cases are among those who haven't been vaccinated.
Norah O'Donnell: I take testosterone. Here's why.
Norah O'Donnell sat down with her own doctor, Rachel Rubin, to tackle the important topic of menopause: How your body changes, why women may be needlessly suffering, and what you can actually do about it.
Hospitals push for upfront payments as healthcare costs rise
Hospitals and other medical providers are increasingly asking for payment before providing care, collecting more of what patients might owe.
Doctor on Fauci's COVID-era revealed texts
Republican senators this week released 11 new text messages from Dr. Anthony Fauci's government phone in 2021 as part of the investigations into his handling of the COVID pandemic. In the texts, he discussed the potential risks and benefits of the vaccine for pregnant women. Dr. Serena Chen, an OB-GYN and the director of advocacy at CCRM Fertility of New Jersey, has more.
World
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At least 1 dead, 172 rescued from ferry fire near Bali, Indonesia
One Indonesian teenager was killed when the vessel caught fire in rough seas.
Cartel sought to buy weapons in exchange for fentanyl, U.S. says
"In exchange for the weapons, the defendants paid in the form of fentanyl and methamphetamine imported into the United States for distribution," the Justice Department said.
Live
Trump says U.S. has "total control" over Strait of Hormuz
President Trump said Wednesday that the U.S. has "total control" over the Strait of Hormuz, writing on social media: "I THINK WE WILL KEEP IT."
Baby rescued from earthquake rubble in Colombia as death toll rises
Footage shared on social media shows a baby being rescued from the bloody arms of a man trapped underneath a destroyed building in Cali after a powerful earthquake struck Colombia.
Total solar eclipse darkens skies across Northern Hemisphere
The only total solar eclipse of 2026 crossed the Northern Hemisphere today, with a path of totality across parts of Greenland, Iceland and northern Spain. See photos and video from the best viewing locations.
Entertainment
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Entertainment
Becky G on her friendship with Karol G
Singer Becky G speaks with Gayle King about her tour with Karol G and the bond the two pop stars have formed. "We have a beautiful friendship," Becky G says, "one I'm really, really thankful for and one that I think throughout the years we've really earned with one another."
Behind the scenes of the movie "Tony"
Actor Dominic Sessa and renowned chef Eric Ripert talk with "CBS Mornings" about the new movie "Tony," which is loosely based on Anthony Bourdain's stories of his first experience working in a kitchen restaurant before he found fame. Sessa describes how he got involved and Ripert, who one of Bourdain's best friends, talks about his relationship with the beloved chef.
Becky G on being family's breadwinner
"CBS Mornings" co-host Gayle King speaks exclusively with pop superstar Becky G about feeling the pressure of becoming her family's breadwinner at a young age.
Spotify to label music from "AI personas"
Kourtnee Jackson, senior streaming and entertainment editor at CNET, joins "The Daily Report" to give her take on Spotify's decision to label AI-generated music and block it from being recommended to users.
Graceland celebrates "Elvis Week"
"Elvis Week" kicked off at Graceland in Memphis, Tennessee, on Aug. 8 and runs until Aug. 16, marking Elvis Presley's death. Alicia Dean, the longtime marketing and promotions specialist for Elvis Presley Enterprises, joins with more.
Technology
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Technology
Google unveils new tech, centered around AI
Google is officially unveiling its latest line of Pixel phones and other new devices at its 2026 Made By Google event in New York. AI is at the center of its newest offerings. Matt Binder, a senior reporter at Mashable, joins CBS News to discuss.
Meta on trial for social media addiction suit
Tech giant Meta is being accused of designing social media platforms that violate privacy and enable social media addiction in children. Jury selection in the trial begins today. CBS News legal contributor Jessica Levinson has more on the case.
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.
Duffy on new tech for air travel safety
Top transportation officials were at Newark Airport on Tuesday for the installation of a new radar system designed to help controllers prevent runway incidents. CBS News senior transportation correspondent Kris Van Cleave spoke with Transportation Secretary Sean Duffy about the new technology.
Wall Street targets $500B for AI
Nvidia scored an astounding $500 billion in financing for artificial intelligence, backed by Wall Street's top power brokers and firms. Puck founding partner and industry journalist William D. Cohan weighs in on the AI boom and data center construction.
Science
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Science
Astronomy professor on how eclipses work
Janna Levin, professor of physics and astronomy at Barnard College, joins CBS News to discuss Wednesday's total solar eclipse.
How a total solar eclipse stopped a war
Columbia University astronomy professor Dr. Janna Levin joins CBS News to discuss Wednesday's total solar eclipse, saying it's a reminder that humans share this Earth together and "we're all part of something larger."
New space object called "black hole star" discovered by astronomers
The newly discovered object looks like a star the size of our solar system, but produces 100 billion times more energy than any star.
Perseid meteor shower peaks during eclipse
The Perseid meteor shower will peak during 2026's only total solar eclipse. Director of astronomy at Adler Planetarium, Dr. Geza Gyuk, explains why the eclipse is so special.
Total solar eclipse in Europe
A small part of the U.S. will be able to see a sliver of partial solar eclipse, but the path of totality will cut through Europe. CBS News meteorologist Rob Marciano has more from Mallorca, Spain.
Crime
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Crime
Lindsay Clancy's counselor takes the stand
Latiesha Dukes, one of Lindsay Clancy's mental health counselors before the deaths of her three children, testified Wednesday that she did not see signs of Clancy in crisis. CBS News' Shanelle Kaul has the latest.
Judge makes rare ruling in Mangione case
At a hearing for Luigi Mangione, who is accused of killing UnitedHealthcare CEO Brian Thompson, a judge ruled the jury in Mangione's New York state murder trial will be anonymous. Tom Hanson explains.
How the Secret Service is cracking down on card-skimming scams
A Secret Service analyst told CBS News a single skimming device can net a scammer up to $1 million.
Cartel sought to buy weapons in exchange for fentanyl, U.S. says
"In exchange for the weapons, the defendants paid in the form of fentanyl and methamphetamine imported into the United States for distribution," the Justice Department said.
More healthcare testimony in Clancy trial
Healthcare workers who treated Lindsay Clancy's postpartum mental health concerns are back on the stand Tuesday in her murder trial. CBS News legal contributor Jessica Levinson has the latest.
Space
More Space
New space object called "black hole star" discovered by astronomers
The newly discovered object looks like a star the size of our solar system, but produces 100 billion times more energy than any star.
Total solar eclipse darkens skies across Northern Hemisphere
The only total solar eclipse of 2026 crossed the Northern Hemisphere today, with a path of totality across parts of Greenland, Iceland and northern Spain. See photos and video from the best viewing locations.
Perseid meteor shower reaches peak viewing on Wednesday night
The Perseid meteor shower is the best viewing all year, according to NASA.
Most detailed images taken of sun's surface revealed
Researchers were able to peek at the sun's scorching surface with the help of the National Science Foundation's Daniel K. Inouye Solar Telescope, located on the island of Maui in Hawaii.
SpaceX rocket booster slams into moon, creating crater that could be 16 feet deep
The impact wasn't visible to the naked eye, but photos are expected to come from a lunar satellite at a later time.
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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.
Summer music highlights of 2026
Summer is the time to enjoy live music, indoors and out. Scroll through our gallery of some of 2026's leading musical acts, featuring images by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
Investigating the death of designer Sylvie Cachay
Sylvie Cachay was found dead in an overflowing bathtub at the exclusive Soho House in New York City on Dec. 9, 2010. A water leak at the hotel gave away a timeline that may have revealed her killer.
Photos show celebrations at Obama Presidential Center
The Obama Presidential Center, museum and library opens in Chicago with a star-studded grand opening ceremony and public watch party on Midway Plaisance.
Timeline: The disappearance of George Smith
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Latest CBS News Videos
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Latest CBS News Videos
New book about Bernie Sanders' 2016 campaign
Tad Devine, the chief strategist for Bernie Sanders' 2016 presidential campaign, argues in his new book that members of the Democratic Party's establishment conspired to prevent Sanders from capturing the nomination. The book is called "How the Democrats Screwed Bernie." Devine joined "The Takeout" to discuss.
H.R. McMaster on Trump's secret plane switch
President Trump's former national security adviser, H.R. McMaster, joins "The Takeout" to share his thoughts on the president's secret plane switch last month in response to an Iranian threat, as well as the latest developments in the Iran war.
Brian Poindexter on his race against Max Miller
Democrat Brian Poindexter is seeing new interest in his Ohio campaign for Congress as his opponent, GOP Rep. Max Miller, faces allegations of abuse. Poindexter joined "The Takeout" to discuss the race.
Details on Leavitt's exit as press secretary
Karoline Leavitt announced Wednesday that she will leave her role as White House press secretary at the end of the month. CBS News' Ed O'Keefe has more on that and the latest on President Trump's secret plane switch.
Luke Bronin on his Connecticut primary upset
Luke Bronin beat 14-term Democratic Rep. John Larson in Tuesday night's primary for Connecticut's 1st congressional district. Bronin joined "The Takeout" to discuss his win.