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Tech startups faced closures and layoffs in 2023 as the Federal Reserve raised interest rates to a 22-year high. New York Times reporter Erin Griffith joins CBS News to explain what's going on in Silicon Valley.
The Dow soared more than 500 points on Wednesday, closing over 37,000 for the first time. The surge came after the Federal Reserve said it is keeping interest rates unchanged for the third time in a row. Gregory Daco, chief economist at Ernst and Young, joins CBS News to unpack the Fed's decision.
Stocks jump after Federal Reserve officials signal they're ready to push down borrowing costs as inflation continues to cool.
The central bank has pushed pause after 11 straight interest-rate hikes. Here are steps to take with your money now.
In its last rate decision of 2023, the central bank said it is holding its benchmark rate steady amid cooling inflation.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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 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.
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.
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.
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.
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.
A vintage banknote and an even older coin collectively sold for nearly $1 million at a multi-day bidding event in Dallas.
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.
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.
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.
The central bank is leaving interest rates unchanged after 11 hikes since March 2022, which has boosted borrowing costs for millions of Americans.
President Trump is in Beijing meeting with China's President Xi Jinping, with the two leaders aiming to stabilize their trading relationship after last year's trade war.
Secretary of Homeland Security Markwayne Mullin told CBS News that ICE arrests at the FIFA World Cup are not off the table, but the agency will not be at the global sporting event for the purpose of immigration arrests.
Ian Nixon, a veteran pilot from the Bahamas, put the plane he was flying down in the ocean without anyone suffering serious injuries.
More than 1,500 Russian drones and dozens of missiles were launched in the last two days, according to Ukrainian officials.
For decades, U.S. presidents have remained steadfast in their defense of the tiny Asian ally from its neighboring giant.
President Trump and China's Xi Jinping met in Beijing on Thursday, while Israel and Lebanon resumed peace talks in Washington.
The Senate unanimously agreed to adopt a resolution on Thursday that will withhold senators' pay during a lapse in funding for any federal agency.
The FBI attempted to interview the director of elections in Milwaukee County, Wisconsin, the county clerk's office said in a statement.
Utah mom Kouri Richins was sentenced to life without the possibility of parole on Wednesday, after a jury convicted her of murder and other charges in her husband's 2022 death.
The Senate unanimously agreed to adopt a resolution on Thursday that will withhold senators' pay during a lapse in funding for any federal agency.
Oklahoma executed a death row inmate Thursday morning. He had been convicted of killing his ex-girlfriend and her 7-month-old baby in 2007.
The FBI attempted to interview the director of elections in Milwaukee County, Wisconsin, the county clerk's office said in a statement.
As Republicans seek to retain control of the U.S. House, leaders of both parties nationwide have sought to redraw their congressional maps to net more seats for their parties.
Ian Nixon, a veteran pilot from the Bahamas, put the plane he was flying down in the ocean without anyone suffering serious injuries.
A jury in Chicago awarded $49.5 million in damages Wednesday to the family of a 24-year-old American who perished in a 2019 Boeing 737 MAX crash.
The 5.5-carat "Ocean Dream" was found in Central Africa in the 1990s.
AI companies are recruiting a wide range of temp workers, from writers to wine enthusiasts, for hourly-paid gigs to help train their language models.
Elon Musk arrived in Beijing on Wednesday, as his $150 billion lawsuit against OpenAI's Sam Altman played out. But a judge told Musk last month he may be recalled to a California courtroom for further testimony at the request of OpenAI lawyers.
"Your doctor could be making decisions around treatment based on studies that never existed," one expert said.
The Senate unanimously agreed to adopt a resolution on Thursday that will withhold senators' pay during a lapse in funding for any federal agency.
The FBI attempted to interview the director of elections in Milwaukee County, Wisconsin, the county clerk's office said in a statement.
As Republicans seek to retain control of the U.S. House, leaders of both parties nationwide have sought to redraw their congressional maps to net more seats for their parties.
President Trump and China's Xi Jinping met in Beijing on Thursday, while Israel and Lebanon resumed peace talks in Washington.
Several states have required their health agencies to take on another job: verifying immigration status among Medicaid recipients and reporting them to the U.S. Department of Homeland Security.
Challenging your mind, through games and learning new skills, may help reduce your risk of dementia, according to the Alzheimer's Association. (Sponsored by the Alzheimer's Association.)
Several states have required their health agencies to take on another job: verifying immigration status among Medicaid recipients and reporting them to the U.S. Department of Homeland Security.
Jake Rosmarin is one of the 16 Americans at the University of Nebraska Medical Center being monitored for signs of hantavirus. Ian Lee spoke with him and has more details.
"Your doctor could be making decisions around treatment based on studies that never existed," one expert said.
A New York native is among 16 American passengers who are quarantining in Nebraska after being on the cruise ship that is at the center of the deadly hantavirus outbreak.
More than 1,500 Russian drones and dozens of missiles were launched in the last two days, according to Ukrainian officials.
Health Secretary Wes Streeting quit embattled British Prime Minister Keir Starmer's Cabinet in what is expected to be a precursor to challenging his leadership.
The identification of the remains also resolved a decades-long debate about the worst disaster in the history of British polar exploration.
A jury in Chicago awarded $49.5 million in damages Wednesday to the family of a 24-year-old American who perished in a 2019 Boeing 737 MAX crash.
The 5.5-carat "Ocean Dream" was found in Central Africa in the 1990s.
(Spoilers ahead) "CBS Mornings" reveals the castaways voted off during Wednesday's episode of "Survivor 50" in another double elimination. They discuss being part of the franchise and their legacies in the game.
The Library of Congress revealed this year's list of 25 recordings to be preserved for future generations on the National Recording Registry.
Major musicians from Post Malone to Meghan Trainor have recently struggled to sell out stadiums and arenas for their tours. It's a troubling trend being called "blue dot fever" and has led to entertainers canceling some or all of their shows. Ash-har Quraishi reports.
Actor Geena Davis talks about starring in the new series "The Boroughs," if there are parallels between herself and the character she plays, and why she's drawn to supernatural projects. She also addresses representation in the entertainment industry.
The action movie "Top Gun," starring Tom Cruise, was released 40 years ago. To celebrate its anniversary, the film and its sequel, "Top Gun: Maverick," are returning to AMC theaters nationwide for one week. Vladimir Duthiers reports.
AI companies are recruiting a wide range of temp workers, from writers to wine enthusiasts, for hourly-paid gigs to help train their language models.
Chinese President Xi Jinping has called Taiwan "the most important issue" between his country and the U.S. About 10% of the population in Taiwan wants to reunify with mainland China, and there are real fears that it will fall under communist control. Tony Dokoupil and Anna Coren break down its importance to China and the U.S.
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.
AI training is an emerging job market where those with specialized skills are paid to train bots to be more accurate and human-like in their responses. The CBS News MoneyWatch team spoke with multiple hiring platforms that pair human experts with AI training jobs. Megan Cerullo has more.
Almost every industry worldwide is integrating artificial intelligence into its operations, and the airline industry is no different. Booking.com CEO Glenn Fogel joins "The Takeout" to discuss AI's impact on travel.
NASA's Psyche spacecraft will slingshot past Mars on Friday, on its way toward a rare metal-rich asteroid.
Greater protections for endangered emperor penguins and how to manage growing tourism are topping the agenda at talks on Antarctica in Japan.
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.
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 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.
Alex Murdaugh, the former South Carolina lawyer who was convicted of murder, will get a new trial and have his convictions overturned, the state's Supreme Court ruled Wednesday. CBS News' Eva Pilgrim reports.
The tourist sparked outrage after a witness recorded him chucking a coconut-sized rock at "Lani," a beloved Hawaiian monk seal off a Maui beach.
Warning: Distressing video. Authorities in the Philippines tried to arrest a senator on Wednesday, resulting in a burst of gunfire in the Philippine Senate, according to an Associated Press journalist and other witnesses.
Alex Murdaugh's double murder trial drew national attention, but three years later, South Carolina's Supreme Court tossed aside his conviction. Mark Strassmann reports on the new developments.
Three years after Alex Murdaugh was convicted of killing his wife and son, the South Carolina Supreme Court on Wednesday overturned the verdict and granted Murdaugh a new trial. CBS News' Katrina Kaufman reports.
NASA's Psyche spacecraft will slingshot past Mars on Friday, on its way toward a rare metal-rich asteroid.
NASA's Apollo 17 crew reported seeing three mysterious dots and sparks that resembled fireworks, according to new files released by the Pentagon.
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."
If confirmed, the rock would become just the second world past Neptune in our solar system to host an atmosphere.
The Artemis II team gained a new member, and the crew made sure their youngest teammate had the right stuff for space.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Does the evidence show a cover-up, or was Todd Kendhammer wrongfully convicted for the murder of his wife?
Christy Salters-Martin dominated in the boxing ring but faced her toughest challenger at home.
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Meet the tattooed beauty charged in the death of Google executive Forrest Hayes.
David Begnaud meets a man who has attended the Kentucky Derby for 79 years in a row – and his dying wish to make it there one last time.
During remarks in a private meeting, according to reports, Chinese President Xi Jinping mentioned an obscure political theory that may suggest how China wants the U.S. to act. CBS News analyst Aaron MacLaean has more.
China is warning the U.S. of a potential conflict over Taiwan if the issue is not handled correctly. CBS News contributor H.R. McMaster joins with more insight on what a U.S.-China conflict may look like.
Aflac CEO Dan Amos joined CBS News 24/7 Mornings with more on his historic tenure atop the insurance company and how the industry has changed over time.
Exercising your brain, through games and learning new skills, may help reduce your risk of dementia. Alzheimer's Association President and CEO Joanne Pike joins "CBS Mornings" with tips on challenging your mind as part of a three-part series "Brain Health: From Awareness to Action." Learn more about their "6-Step Challenge" and the "(re)think your brain" initiative at rethinkyourbrain.org (Sponsored by the Alzheimer's Association)