12/11/2022: The Treasury Secretary, Suing Social Media, College of Magic
Janet Yellen on recession fears, inflation and the war in Ukraine; Families suing social media companies; Cape Town's College of Magic.
Federal Reserve
Looking for positive signs on economy
Investors are looking for any positive signs to bounce back from a down 2022 in the stock market. Chief investment officer Ahmed Riesgo of Insigneo joined CBS News to discuss where those signs might come from.
Will 2023 be a tough year for economy?
International Monetary Fund managing director Kristalina Georgieva warned that the global economy could face a "tough year" in 2023 in an interview on "Face the Nation." Threadneedle Ventures founder Ann Berry joined CBS News' Vladimir Duthiers and Anne-Marie Green to discuss the likelihood of a recession, rising interest rates and the global economy.
Stock market starts "Santa Claus rally"
J.D. Durkin, host of "The Street," joined CBS News to discuss the gains made by the stock market Thursday, and what investors are looking for going into 2023.
Key inflation measure watched by Fed eases
The personal consumption expenditures price index, the Federal Reserve's preferred measure of inflation, eased again in November. It's another sign high consumer prices are coming down. Frances Stacy, director of strategy at Optimal Capital, discussed the impact of inflation on the stock market.
An inflation measure watched by the Fed eases to 5.5%
Personal consumption expenditures increased at the lowest rate in over a year, showing the long run-up in prices is likely ending.
As Fed hikes interest rates, home prices dip
Home prices are on a decline as the Federal Reserve continues to raise interest rates to tame inflation. Skylar Olsen, chief economist at Zillow, joined CBS News' Catherine Herridge to discuss how rising interest rates are affecting the housing market and what homeowners and home buyers should do.
Stocks continue to fall at end of turbulent week
The Dow dropped another 300 points at its opening Friday, the index's third straight day of losses after news of a rise in interest rates and a drop in retail spending. Jesse Wheeler, an economic analyst for Morning Consult, joins CBS News to discuss the latest financial news and what the future holds.
Markets respond to latest interest rate hike
The Dow Jones Industrial Average had its third straight day of losses after the Federal Reserve announced an interest rate hike. Senior columnist at Yahoo Finance Rick Newman joins CBS News to discuss the impact on the markets.
Mortgage rates take another dip
Mortgage rates drop for the fifth week in a row despite the Federal Reserve's recent interest rate hike. BancAlliance President Lori Bettinger joins CBS News Mornings to explain what's spurring the dip.
Stocks drop after rate hike, weak sales data
Stocks on Wall Street plunged Thursday, a day after the Federal Reserve announced yet another interest rate hike. Megan Greene, senior fellow at Brown University, and the global chief economist for the Kroll Institute, joins CBS News' "Prime Time" to discuss the state of the economy.
High interest rates hinder home buyers
The Federal Reserve raised interest rates again as it tries to ease inflation. Tanya Rivero takes a look at what it means for the housing market.
Federal Reserve raises interest rates again
The Federal Reserve raised interest rates Wednesday for the seventh time this year. However, the latest rate hike is slightly lower than the last several increases. CBS News chief White House correspondent Nancy Cordes; Javier David, a CBS News contributor and managing editor of business and markets for Axios; and J.D. Durkin, a host for financial news website TheStreet, discussed the latest move from the nation's central bank.
Fed chair says rate cuts unlikely in 2023
The Federal Reserve boosted its benchmark interest rate by 0.5 percentage point, marking its seventh consecutive hike this year. David Wessel, the director of the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution, joined John Dickerson to discuss the Fed's efforts to bring inflation down.
Fed is boosting rates again. What it means for your wallet.
The central bank boosted interest rates for the seventh time this year, which means pricier debt and loans.
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.
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.
Maps show where winter storm will bring ice, 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.
FBI agent in Minneapolis involved in Renee Good probe resigns
Tracee Mergen, whose FBI squad was involved in the Renee Good investigation and probes into public benefits fraud in Minnesota, resigned last week, sources said.
Minnesota AG Keith Ellison accuses White House of "politics and retribution"
Minnesota Attorney General Keith Ellison said he has seen "no evidence" of a federal investigation into the fatal shooting of Renee Good by an ICE officer earlier this month.
5-year-old taken into ICE custody has immigration case, preventing deportation
The 5-year-old immigrant boy taken into ICE custody alongside his father in Minnesota has an active immigration case and cannot be legally deported yet, records reviewed by CBS News indicate.
Ryan Wedding, Olympic athlete turned alleged drug kingpin, arrested
Ryan Wedding, a 44-year-old Canadian national, was added to the FBI's Ten Most Wanted Fugitives list last year.
Vehicle crashes into terminal at Detroit Metro Airport
An investigation is underway after a driver crashed a vehicle into the McNamara Terminal at Detroit Metro Airport.
U.S. carries out 35th strike on alleged drug boat, first since Maduro capture
It's the 35th strike on alleged drug-smuggling boats since early September 2025, and the first since the U.S captured former Venezuelan President Nicolás Maduro.
Live
General strike, rally, marches in Minnesota today to protest ICE
Hundreds of businesses in the Twin Cities are closed Friday to protest the presence of federal immigration agents in Minnesota, as thousands of demonstrators have taken to the streets of downtown Minneapolis in a show of solidarity.
How much snow are you getting this weekend? See the forecast.
A winter storm is forecast to dump up to 24 inches of snow in some places this weekend, and many are wondering: How much snow are we actually getting?
U.S.
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Officer comes to the rescue of grief-filled woman sleeping in cemetery, finds her a home
When a 55-year-old woman lost her job and got evicted, she took up residence at the only place she felt she owned, her husband's grave.
Minnesota AG Keith Ellison accuses White House of "politics and retribution"
Minnesota Attorney General Keith Ellison said he has seen "no evidence" of a federal investigation into the fatal shooting of Renee Good by an ICE officer earlier this month.
NTSB investigating Waymo robotaxis for improperly passing school buses
The National Transportation Safety Board announced it has opened an investigation into Waymo robotaxis following a series of incidents in Austin involving school buses filled with children.
FBI agent in Minneapolis involved in Renee Good probe resigns
Tracee Mergen, whose FBI squad was involved in the Renee Good investigation and probes into public benefits fraud in Minnesota, resigned last week, sources said.
Winter storm doesn't disprove climate change, despite Trump's claim
President Trump cited a major winter storm as evidence to suggest that global warming does not exist — a misleading claim that has been consistently debunked by climate experts.
MoneyWatch
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Here's what it takes to achieve an 800 credit score
Only one in four Americans has a credit score above 800, which is considered exceptional, according to industry data.
Bank of America may introduce credit card with 10% APR
Facing pressure from President Trump, credit card issuers are exploring ways to ease borrowing costs.
How to heat your home safely as fierce winter storm grips the U.S.
Federal safety regulators warn that home heating equipment can spark fires or emit carbon monoxide. Here's what to know.
What to know about EVs as the winter storm brings bone-chilling temps
Cold weather can reduce the efficiency of electric vehicles, shortening their driving range. These tips can help.
Tesla Cybertruck sales plunged 48% in in 2025
Other Tesla vehicles also struggled to attract buyers, with sales of its X, S and Y models all sinking from the previous year.
Politics
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Minnesota AG Keith Ellison accuses White House of "politics and retribution"
Minnesota Attorney General Keith Ellison said he has seen "no evidence" of a federal investigation into the fatal shooting of Renee Good by an ICE officer earlier this month.
Epstein's inner circle subpoenaed to testify before House Oversight Committee
Jeffrey Epstein's lawyer, accountant and billionaire benefactor are set to appear before the committee in February and March.
FBI agent in Minneapolis involved in Renee Good probe resigns
Tracee Mergen, whose FBI squad was involved in the Renee Good investigation and probes into public benefits fraud in Minnesota, resigned last week, sources said.
U.S. carries out 35th strike on alleged drug boat, first since Maduro capture
It's the 35th strike on alleged drug-smuggling boats since early September 2025, and the first since the U.S captured former Venezuelan President Nicolás Maduro.
5-year-old taken into ICE custody has immigration case, preventing deportation
The 5-year-old immigrant boy taken into ICE custody alongside his father in Minnesota has an active immigration case and cannot be legally deported yet, records reviewed by CBS News indicate.
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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U.S. carries out 35th strike on alleged drug boat, first since Maduro capture
It's the 35th strike on alleged drug-smuggling boats since early September 2025, and the first since the U.S captured former Venezuelan President Nicolás Maduro.
Trump says "armada" of warships is headed toward Iran "just in case"
President Trump indicated he's watching the Iranian regime's response to massive protests that began late last month.
Ukrainians struggle as Russian strikes close schools, cut heat and power
Russia's relentless strikes leave families in Kyiv without heat and power, and keep schools closed for at least a month.
Trump outrages NATO allies with remarks on war in Afghanistan
European veterans, families of the fallen, and politicians are voicing outrage over Trump's claim NATO allies stayed behind the front lines in Afghanistan.
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.
Entertainment
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Entertainment
Madison Beer opens up about music journey
Madison Beer says music has always been her escape since she started writing songs at just 6 years old. But the 26-year-old has had to navigate ups and downs in her journey to stardom. Anthony Mason reports.
"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.
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
Officials on 5-year-old boy detained by ICE
Trump administration officials are denying accounts from witnesses who say they saw what occurred during a Minnesota ICE raid where a 5-year-old boy and his father were detained.
Jury selection date set in Mangione trial
At a pretrial hearing on Friday, a judge set the date for jury selection in the case of Luigi Mangione, who is accused of killing UnitedHealthcare CEO Brian Thompson. CBS News legal reporter Katrina Kaufman was in the courtroom and has the details.
New video shows Ryan Wedding in FBI custody
CBS News has obtained video of the moment FBI agents escorted former Olympic snowboarder and accused drug kingpin Ryan Wedding off a plane in California. CBS News' Anna Schecter has the details.
5-year-old Liam Ramos detained by ICE
Five-year-old Liam Ramos is now being held at an ICE detention facility in Texas, CBS News' Camilo Montoya-Galvez reports. Here's what we know about the case.
Ryan Wedding arrested, officials say
Ryan Wedding, the former Olympic snowboarder who allegedly became a drug kingpin and is accused of orchestrating multiple murders, has been arrested, FBI Director Kash Patel announced on Friday. CBS News' Anna Shecter reports.
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
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Latest CBS News Videos
Widow living at husband's grave helped by officer
When a 55-year-old woman lost her job and got evicted, she took up residence at the only place she felt she owned, her husband's grave. Then, an "angel" came to her rescue. Steve Hartman has the story "On the Road."
NTSB investigating Waymo for traffic violations
Federal regulators have opened an investigation into Waymo robotaxis after a series of incidents involving school buses filled with kids. Kris Van Cleave has details.
Philadelphia sues over removal of slavery displays
A series of informational signs about slavery was removed from the President's House in Old City Philadelphia, prompting Philadelphia officials to file a lawsuit against the federal government. Elaine Quijano has more.
Uproar over Trump's comments about Afghanistan
European military veterans, families of the fallen and politicians have voiced outrage after President Trump claimed the U.S. had "never needed" its NATO allies, and that allied troops had stayed "a little off the front lines" during the 20-year war in Afghanistan. Nancy Cordes has the latest.
Minnesota AG on ICE: "Politics and retribution"
Thousands braved subfreezing temperatures in the Twin Cities to protest ICE operations. It comes as Minnesota Attorney General Keith Ellison calls "Operation Metro Surge" a political tactic meant to punish Minnesotan leaders. Nicole Sganga reports.