Fed hikes key interest rate for seventh time this year
Rates are at their highest level in 15 years as policymakers try to tamp down inflation without torpedoing the economy.
Federal Reserve
Stocks fall following latest rate hikes
The Federal Reserve raised interest rates by half a point Wednesday, and the Dow Jones Industrial Average index fell following the announcement before briefly spiking when Fed Chairman Jerome Powell said that he wouldn't rule out the prospect of a soft landing. J.D. Durkin, host of "TheStreet," joined CBS News to look back on the Fed's work in 2022 and discuss what Americans should expect in the coming year.
White House braces for Fed's next move
The Federal Reserve is expected to raise interest rates Wednesday for the seventh time this year. But experts believe the anticipated hike will be slightly lower than the last several increases. CBS News senior White House and political correspondent Ed O'Keefe discussed what the Fed's next move means for the White House.
Seventh interest rate hike of 2022 expected
For the seventh time this year, the U.S. Federal Reserve is expected to increase interest rates, putting things like mortgages and credit cards in flux. Ayelet Sheffey, senior economic policy reporter with Business Insider, joins CBS News to talk about how it will affect Americans.
Inflation slows ahead of Fed meeting
The Labor Department reported Tuesday that the Consumer Price Index rose 7.1% over the last 12 months, the slowest rate of inflation since December of 2021. William Lee, chief economist for the Milken Institute, joined CBS News to discuss the latest data.
Inflation cooled in November for fifth month
The annual inflation rate hit 7.1% in November, the fifth straight month that consumer prices cooled off. Lori Bettinger, president of BancAlliance, joins CBS News' Elaine Quijano and Lana Zak on how this could affect the Federal Reserve's announcement Wednesday on interest rates.
U.S. Inflation slightly cooling down
The Consumer Price Index rose 7.1% in November, down from 7.7% in October. The Federal Reserve is expected to announce another interest rate hike this week. CBS News reporter Sarah Ewall-Wice joins us with the latest on what this means for the economy.
Feds expected to raise interest rates again
The Federal Reserve is set to meet this week to discuss another possible interest rate hike. The two-day meeting comes after Treasury Secretary Janet Yellen saying she predicts a significant reduction in inflation by the end of next year. Kristin Myers, the editor-in-chief at The Balance, joins CBS News to discuss.
Wholesale prices rose in November
Wholesale prices rose 0.3% in November, despite efforts to cool inflation. The numbers could signal another interest rate hike by the Federal Reserve. Bob Elliot, the CEO and CIO of Unlimited, joins CBS News' Lana Zak and Tanya Rivero to discuss.
Jamie Dimon warns of "mild recession"
JPMorgan Chase CEO Jamie Dimon spoke with "Face the Nation" moderator Margaret Brennan about the state of the economy and how geopolitical issues could play a role. He warned of a mild recession in 2023. Brennan joins CBS News' John Dickerson on "Prime Time" with more on the interview.
China's trade takes a dive
China's trade is suffering its worst slump in nearly three years. The drop announcement comes as China rolls back its stringent COVID-19 policies following widespread protests. Marley Kayden, a business reporter and professor for DePaul University, joins CBS News to discuss how pulling back these policies could impact the Chinese economy. She also weighs in on what's expected at the Federal Reserve's next meeting.
Surprising jobs report shows strong hiring
The Labor Department's November jobs report showed the U.S. gained 263,000 jobs last month. But fears about inflation and a possible recession remain. Meg Oliver reports.
Stocks fall with another rate hike expected
The Dow plunged over 480 points Monday as investors remain fearful the Federal Reserve could drive the economy into a recession with additional interest rate hikes. Dory Wiley, president and CEO of Commerce Street Holdings, joined CBS News' Lilia Luciano on the implications of the Fed's next move.
Strong job numbers could signal more rate hikes
With the Labor Department on Friday reporting stronger November job numbers than expected, the Federal Reserve could react with yet another interest rate hike in an effort to curb inflation. Skyler Henry has the details.
Labor market resilient despite rate hikes
The November jobs report showed the U.S. economy added 263,000 jobs as the Federal Reserve considers its next interest rate hike. CBS News business analyst Jill Schlesinger joined Errol Barnett and Elaine Quijano with more on the direction of the labor market.
U.S. adds 263,000 new jobs in November
CBS News contributor Javier E. David joined Vladimir Duthiers and Anne-Marie Green with a look at the November jobs report and what it shows about the U.S. labor market as rising interest rates start to bite.
How the Fed may react to monthly jobs report
The Federal Reserve is expected to keep an eye on the November jobs report as it considers its next interest rate hike. Kristin Myers, editor-in-chief of The Balance, joins CBS News' Errol Barnett and Elaine Quijano to discuss on what to expect.
Economist warns of recession next year
As the Federal Reserve continues efforts to bring Inflation down, S & P Global Ratings is warning of a mild recession in 2023. Beth Ann Bovino, chief economist for S & P Global Ratings, joined John Dickerson on "Prime Time" to discuss.
Fed hints at slower interest rate hikes
Federal Reserve Chair Jerome Powell said Wednesday that the Fed could slow interest rate hikes as soon as December. Larry Adam, chief investment officer at Raymond James, joined CBS News to discuss Powell's comments and what it could mean for the economic outlook.
U.S. economy grows despite surging inflation
After six months of decline, the U.S. Gross Domestic Product increased at an annual rate of 2.9% in the third quarter. Lori Bettinger, president of BancAlliance and the former director of the Troubled Asset Relief Program at the Treasury Department, joined CBS News to discuss this latest economic indicator.
U.S. economy sees growth in Q3
Ryan Payne, president of Payne Capital Management, joined CBS News to discuss the latest U.S. economic indicators and what the third-quarter rise in the GDP means for consumers and the economy.
Fed hints at smaller interest rate hikes
The Federal Reserve hinted it could soon ease up on its aggressive policy on interest rates. Editor-in-chief at The Balance Kristin Myers joins CBS News' Errol Barnett and Nancy Chen for more on what this could mean moving forward.
Biden-Xi meeting gives hope to global economy
The meeting between President Biden and Chinese President Xi Jinping was seen as a good sign by traders who bet on the markets. Eswar Prasad, the Tolani senior professor of trade policy at Cornell University, joined CBS News' John Dickerson to discuss what the talks mean for the world economy and more.
Mortgage rate soars to 6.7%, highest since 2007
According to Freddie Mac, the average 30-year mortgage rate in the U.S. has risen to 6.7%, the highest since 2007. Jessica Lautz, vice president of demographics and behavioral insights at the National Association of Realtors, joined CBS News to provide some advice for new homebuyers.
New book explores life of Treasury Secretary Janet Yellen
Author Jon Hilsenrath has written a new book about the life of Treasury Secretary Janet Yellen titled "Yellen: The Trailblazing Economist Who Navigated an Era of Upheaval." He joined Catherine Herridge to discuss the book and Yellen's impact on the economy.
Nick Reiner, son of Rob Reiner and wife Michele, arrested for their murders
Nick Reiner, a son of director Rob Reiner and his wife Michele, has been arrested on murder charges following their deaths, police said.
Brown shooting manhunt continues as new video shows person of interest
Police on Monday renewed their search for the gunman who killed two Brown University students and wounded nine others.
4 members of far-left group charged for alleged terror plot in California
Attorney General Pam Bondi said the FBI and Justice Department thwarted "what would have been a massive and horrific terror plot" in Southern California.
Brian Walshe convicted of first-degree murder in wife's death
A jury has found Massachusetts man Brian Walshe guilty of first-degree murder in the death of his wife Ana Walshe.
Brown University shooting victims identified
The two people who were killed in a shooting at Brown University on Saturday have been identified as students Ella Cook and Mukhammad Aziz Umurzokov.
"Australia's not a home for Jews anymore," Bondi victim's daughter says
Sheina Gutnick's dad came to Australia to escape persecution for his Jewish faith, and his murder in Bondi has left her feeling "betrayed by the government."
Trump disparages Rob Reiner's political views a day after his murder
Actor and director Rob Reiner and his wife Michele were found dead in their Los Angeles home over the weekend.
Hollywood stars, politicians react to deaths of Rob Reiner and his wife
Tributes and condolences have poured in for the prolific director, actor and activist Rob Reiner and his wife, Michele, who were found dead Sunday in their home in Los Angeles.
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Army identifies two American soldiers killed in attack in Syria
Two members of the Iowa National Guard and a U.S. civilian interpreter were killed in Palmyra, Syria on Saturday after an ISIS gunman ambushed them, according to the Pentagon.
Trump disparages Rob Reiner's political views a day after his murder
Actor and director Rob Reiner and his wife Michele were found dead in their Los Angeles home over the weekend.
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Brown shooting manhunt continues as new video shows person of interest
Police on Monday renewed their search for the gunman who killed two Brown University students and wounded nine others.
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Army identifies two American soldiers killed in attack in Syria
Two members of the Iowa National Guard and a U.S. civilian interpreter were killed in Palmyra, Syria on Saturday after an ISIS gunman ambushed them, according to the Pentagon.
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"Australia's not a home for Jews anymore," Bondi victim's daughter says
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Rabbis, a young girl and a Holocaust survivor among Bondi Beach victims
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Nick Reiner, a son of director Rob Reiner and his wife, was arrested and booked on murder charges in his parents' deaths, Los Angeles Police Chief Jim McDonnell said. The Hollywood icon and his wife were found dead in their Los Angeles home late Sunday afternoon.
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