This is how the Fed's latest interest-rate hike will affect you
The central bank said it is boosting rates by 0.75 percentage point. Expect to pay more for credit card debt and loans.
Federal Reserve
Biden aims to rally support for Ukraine at U.N.
President Biden is addressing the United Nations General Assembly in New York City. He is expected to discuss the ongoing war in Ukraine and efforts by the U.S. and allies to provide more aid. CBS News political correspondent Caitlin Huey-Burns discussed with Vladimir Duthiers and Anne-Marie Green.
Fed expected to raise interest rates again
The Federal Reserve is expected to raise interest rates for a fifth time Wednesday as part of ongoing efforts to curb inflation. Thomas Hogan, a senior fellow at the American Institute for Economic Research, joined CBS News to discuss the immediate and long-term impacts of the increase.
Another interest rate hike expected
As President Biden sets off to attend the U.N. General Assembly in New York Tuesday, the Federal Reserve is expected to hike interest rates again on Wednesday in an effort to quell high inflation. Nancy Cordes reports from the White House.
Stocks in flux ahead of Fed meeting
The Federal Reserve has twp-day meeting starting Tuesday and economists are preparing for another interest rate hike to come out of it. Saira Malik, chief investment officer of Nuveen, joins CBS News at the closing bell to discuss what is driving the market.
How mortgage rates affect housing market
Experts expect the Federal Reserve to raise interest rates later this week as it continues to fight inflation. Mortgage rates have also jumped in recent months. Mark Zandi, chief economist of Moody's Analytics, joined Lilia Luciano to discuss what high mortgage rates mean for the housing market.
Markets fall to close out week
All three major stock indexes ended the week with losses for the fourth time in five weeks. Victoria Fernandez, chief market strategist at Crossmark Global Investments, joins CBS News to discuss what it means for the U.S. economy.
Reaction to jobs and retail rales reports
David Kelly, the chief global strategist for J.P. Morgan Asset Management, joins CBS News to discuss the drop in first-time jobless claims last week and last month's rise in retail sales. He also shares his expectations for next week's highly anticipated Federal Reserve meeting.
Fed announces 0.75% rate hike
The Federal Reserve announced it is raising its benchmark interest rate by three-quarters of a percentage point, the sharpest hike since 1994, as it seeks to combat the biggest surge in U.S. inflation in four decades. CBS News senior White House and political correspondent Ed O'Keefe and Stephen Gandel, news editor for The New York Times' DealBook, join CBS News to discuss the implications of the decision.
Stocks plummet after August inflation report
Stocks dropped after the latest Consumer Price Index report showed U.S. inflation remains high. The Dow tumbled nearly 1,300 points Tuesday for the worst day since June 2020. Wall Street Journal reporter Dion Rabouin joins CBS News to discuss the market reaction.
August CPI report to be released Tuesday
Brent Wilsey, president of Wilsey Asset Management, joins CBS News to share expectations for the monthly Consumer Price Index report, which will be released Tuesday. He also discusses how this report could affect the Federal Reserve's upcoming meeting and the interest rate hike the central bank is expected to announce.
Fed chair signals another rate hike could be coming
Robert C. Hockett, a law professor at Cornell University, joined CBS News to discuss how another interest rate hike could impact the economy. This comes after Federal Reserve Chairman Jerome Powell hinted this week that yet another hike could be coming. Hockett also evaluates the importance of the strong labor market amid high inflation.
Federal Reserve to keep fighting inflation
The Federal Reserve is expected to raise interest rates again this month and chair Jerome Powell is signaling the central bank will continue its aggressive approach to fighting inflation. William Lee, a chief economist for the Milken Institute, joins CBS News to discuss why he believes Americans' perceptions of the Fed matter more to the economy than its actions.
Stocks gain as Fed hints at rate hike
All major stock indexes make gains Wednesday amid mire hints from Federal Reserve officials that interest rates would rise another 75 basis points later this month. Scott Bauer, CEO of Prosper Trading Academy, joins CBS News at the closing bell to discuss what was driving the market.
Stock market faces volatility
Major stock indexes had a roller coaster day coming out of Labor Day weekend. Julia-Ambra Verlaine, markets report at the Wall Street Journal, joins CBS News at Tuesday's closing bell to discuss what was driving the market.
Job growth remains strong in August report
The U.S. added 315,000 jobs in August, fairly on track with what economists predicted. With the unemployment rate rising slightly to 3.7%, it could be a sign that the hot labor market is beginning to cool off. Jesse Wheeler, economic analyst at Morning Consult, joins CBS News to discuss what it all means.
Expert: Stocks slide over interest-rate fears
Wall Street is reacting to the August jobs report, which said employers added 315,000 jobs last month. Dan Roccato, a finance professor at the University of San Diego, joined Michael George to discuss how the jobs report may affect the Fed's upcoming decision on interest rates.
What does jobs report mean for economy?
The U.S. added 315,000 jobs in August, and the unemployment rate ticked up slightly to 3.7%. Meanwhile, President Biden said he's seeing signs that inflation may be "beginning to ease." CBS News reporter Sarah Ewall-Wice joined Michael George to break down the White House response to the report and what it could mean for the economy.
U.S. added fewer jobs in August than in July
The latest report from the U.S. Labor Department shows hiring slowed in August, with employers adding 315,000 new jobs. The unemployment rate ticked up to 3.7%. CBS News' Debra Alfarone spoke with Javier David, the managing editor of business and markets at Axios, about what this means for the economy.
Investors concerned aggressive rate hike could be coming
U.S. jobless claims declined for the third week in a row, according to numbers released by the Labor Department Thursday. However, investors fear it could give the Federal Reserve the opportunity to make another aggressive interest rate hike this month. Marley Kayden, economic journalist and a professor at DePaul University, joined CBS News to discuss the job market and its impact on the stock market.
White House adviser weighs in on inflation fears
Federal reserve chair Jerome Powell has warned there will be "some pain" for Americans in the fight to reduce inflation. Gene Sperling, senior adviser to the president, joins CBS News' John Dickerson to discuss the state of the economy.
Markets cautious after Fed chair's remarks
Investors remain hesitant after Federal Reserve Chair Jerome Powell's Friday remarks on inflation triggered a massive sell-off. CBS News' Tanya Rivero speaks with Joe Saluzzi, partner and co-founder at Themis Trading, about how the markets are reacting.
Stock market drops after Fed chair's speech
The Dow Jones Industrial Average fell more than 1,000 points Friday after Federal Reserve Chair Jerome Powell said the Fed will continue raising interest rates to tame inflation. Colby Smith, a U.S. economics editor for the Financial Times, joins CBS News' Catherine Herridge to discuss.
Fed chair’s remarks trigger market sell-off
Federal Reserve Chair Jerome Powell’s remarks on inflation triggered a massive sell-off on Wall Street. Melissa Armo, owner and founder of The Stock Swoosh, breaks down why investors aren’t thrilled with the Fed chair’s comments on a possible interest rate hike.
Stocks fall amid fears of rate hikes
Wall Street ended the week with its worst day in months. The Dow Jones fell more than 1,000 points with all three major indexes off more than 3%. Nikki Battiste reports.
Live
Trump calls off Strait of Hormuz ultimatum as Iran receives U.S. message from mediators
As Iran threatens to mine the entire Persian Gulf, President Trump said his deadline for the Strait of Hormuz to reopen is postponed amid negotiations with Tehran.
Exclusive
U.S. sent Iran a message via mediators as Trump says deal is possible, Iranian official says
Iran has received a message from the U.S. through mediators as a potential precursor to talks between the two warring countries, a senior Iranian Foreign Ministry official told CBS News, after President Trump suggested a deal is possible.
Markwayne Mullin confirmed as DHS secretary in 54-45 Senate vote
The Senate confirmed Markwayne Mullin as secretary of the Department of Homeland Security on Monday, finalizing President Trump's shakeup of DHS following months of scrutiny of Kristi Noem's leadership.
Exclusive
Congress launches investigation into California hospice fraud
A CBS News analysis of Los Angeles County hospice records found indications of fraud are growing. The House Oversight Committee is now investigating.
DHS funding talks in limbo after Trump insists GOP pass SAVE America Act
Senate talks aimed at ending the 38-day DHS shutdown hit a new roadblock after President Trump called on Republicans to hold out for passage of the SAVE America Act.
2 pilots killed as plane and fire-rescue truck collide at LaGuardia Airport
Two pilots were killed and dozens of people injured at New York's LaGuardia Airport late Sunday night when an arriving Air Canada Express plane and fire and rescue vehicle collided, authorities said.
Pentagon to remove media offices after judge strikes down rules for reporters
The Defense Department says it will issue new press credentials but remove media offices from the Pentagon, after a judge ruled that the military's new rules to get access to the Pentagon were unconstitutional.
Bill Cosby found liable in 1972 sexual assault, must pay nearly $60M in damages
A civil jury in California found 88-year-old Bill Cosby liable for drugging and sexually assaulting Donna Motsinger in 1972, and awarded her nearly $60 million.
U.S. Park Police officer "ambushed," shot by 2 men in Washington, officials say
A U.S. Park Police officer was seriously wounded in an "ambush" shooting in Washington, law enforcement officials said. The officer was "targeted," they said.
U.S.
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U.S. Park Police officer "ambushed," shot by 2 men in Washington, officials say
A U.S. Park Police officer was seriously wounded in an "ambush" shooting in Washington, law enforcement officials said. The officer was "targeted," they said.
Large blast at Valero oil refinery in Texas sends smoke, flames into the air
A large explosion at a Valero oil refinery near the Texas Gulf coast shot plumes of smoke into the air and forced some nearby residents to shelter in place.
Pentagon to remove media offices after judge strikes down rules for reporters
The Defense Department says it will issue new press credentials but remove media offices from the Pentagon, after a judge ruled that the military's new rules to get access to the Pentagon were unconstitutional.
Worst Hawaii flooding in 20 years leaves many homes in mud: "We lost everything"
Hawaii is just beginning the recovery from a pair of massive storms that unleashed up to 4 feet of rain in parts of O'ahu and Maui over the past week, Gov. Josh Green said.
Markwayne Mullin confirmed as DHS secretary in 54-45 Senate vote
The Senate confirmed Markwayne Mullin as secretary of the Department of Homeland Security on Monday, finalizing President Trump's shakeup of DHS following months of scrutiny of Kristi Noem's leadership.
MoneyWatch
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Polymarket buckles down on insider trading after suspiciously timed bets
Polymarket tightened its rules after questions surfaced over whether some prediction market customers engaged in insider trading.
Here are Elon Musk's "most epic" goals for his vast Terafab chip plant
Elon Musk unveiled plans for a massive chip manufacturing facility in Austin, Texas, that he said will power his "galactic" aspirations.
As airport delays continue, can enrolling in TSA PreCheck save you time?
"TSA PreCheck will likely help you, even now with the long lines we're seeing at checkpoints," said one travel expert.
How to cut down on pet expenses as costs rise
Pet ownership costs over the past year have increased by up to 10%, according to Rover.
OnlyFans owner Leonid Radvinsky dies of cancer at 43
The reclusive billionaire bought a majority stake in OnlyFans in 2018, growing the site into a major adult content platform.
Politics
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Pentagon to remove media offices after judge strikes down rules for reporters
The Defense Department says it will issue new press credentials but remove media offices from the Pentagon, after a judge ruled that the military's new rules to get access to the Pentagon were unconstitutional.
Markwayne Mullin confirmed as DHS secretary in 54-45 Senate vote
The Senate confirmed Markwayne Mullin as secretary of the Department of Homeland Security on Monday, finalizing President Trump's shakeup of DHS following months of scrutiny of Kristi Noem's leadership.
Exclusive
U.S. sent Iran a message via mediators as Trump says deal is possible, Iranian official says
Iran has received a message from the U.S. through mediators as a potential precursor to talks between the two warring countries, a senior Iranian Foreign Ministry official told CBS News, after President Trump suggested a deal is possible.
Exclusive
Congress launches investigation into California hospice fraud
A CBS News analysis of Los Angeles County hospice records found indications of fraud are growing. The House Oversight Committee is now investigating.
DHS funding talks in limbo after Trump insists GOP pass SAVE America Act
Senate talks aimed at ending the 38-day DHS shutdown hit a new roadblock after President Trump called on Republicans to hold out for passage of the SAVE America Act.
HealthWatch
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More parents are refusing routine newborn preventative care, study finds
Doctors fear that skepticism, fueled by anti-science sentiment and mistrust, is extending beyond vaccines to other proven, routine care.
Complex procedure saves officer with chest pain, heart condition
Transit Officer Paul DeGeorge thought his son was lying on him. Then he realized something much scarier was happening.
Judge blocks parts of RFK Jr.'s vaccine agenda, including revised schedule
A judge blocked a set of changes to the childhood vaccine schedule recommended by allies of Health and Human Services Secretary Robert F. Kennedy, dealing a setback to the Trump administration's efforts to overhaul federal vaccine policy.
Changes in organ donor status can fall through cracks in the system
Patchwork state policies and limited federal oversight have led to a fragmented system for tracking organ donor status.
A dad's colon cancer spread to lungs. He says what happened next was a miracle.
Spencer Laird was diagnosed with colon cancer at 26. At 30, he was told it had returned and spread to his lungs, with one tumor the size of a golf ball.
World
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Exclusive
U.S. sent Iran a message via mediators as Trump says deal is possible, Iranian official says
Iran has received a message from the U.S. through mediators as a potential precursor to talks between the two warring countries, a senior Iranian Foreign Ministry official told CBS News, after President Trump suggested a deal is possible.
Pope Leo puts Father Flanagan of Boys Town fame a step closer to possible sainthood
With Pope Leo XIV's proclamation, the priest commonly known as "Father Flanagan" is now officially declared "venerable."
Strait of Hormuz dotted with about a dozen Iranian mines, U.S. officials say
U.S. officials say assessments show at least a dozen Iranian mines in the Strait of Hormuz as President Trump backs off his threat to target Iran's energy infrastructure over claims of productive peace talks
Military plane crash in Colombia kills at least 66 people and injures dozens
A military cargo plane crashed shortly after taking off in southwestern Colombia, the South American country's military said.
Could the Iran war help Ukraine get back in Trump's good books?
Trump says aid for Ukraine depleted U.S. weapons stockpiles, but as the Iran war takes that mantle, Kyiv eyes opportunities to build long-term defense partnerships.
Entertainment
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Entertainment
Makers of "The AI Doc" on tech's peril, promise
A new documentary examines the artificial intelligence boom and its potential risks to humanity, featuring interviews with top AI company CEOs and other experts. Co-director Charlie Tyrell and producer Ted Tremper join CBS News to discuss the making of the film, "The AI Doc: Or How I Became an Apocaloptimist."
Patrick Ball on medical drama "The Pitt"
"The Pitt" star Patrick Ball tells "CBS Mornings" he had been auditioning since 2013 and didn't think his acting dreams were "ever going to happen" when he was cast in the medical drama. He also opens up about how the series is personal for him.
Lisa Kudrow on making "The Comeback"
In 2005, the "Friends" star played Valerine Cherish, a washed-up sitcom actress, in the HBO comedy "The Comeback." The show was cancelled, but it earned a cult following, and returned in 2014. Now, "The Comeback" is itself making a comeback.
Extended interview: Lisa Kudrow
In this web exclusive, Emmy-winning actress Lisa Kudrow talks with Tracy Smith about "Friends," and her HBO show "The Comeback."
Lisa Kudrow on making "The Comeback"
"Friends" star Lisa Kudrow played a washed-up sitcom actress, Valerie Cherish, in the 2005 HBO comedy "The Comeback." The show was cancelled, but it earned a cult following, and then returned in 2014. Now, "The Comeback" is itself making a comeback for a third season. Kudrow talks with correspondent Tracy Smith about her love for playing Phoebe Buffay; her aptitude for "cringe comedy"; and how she found solace following the death of "Friends" castmate Matthew Perry.
Technology
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Technology
Makers of "The AI Doc" on tech's peril, promise
A new documentary examines the artificial intelligence boom and its potential risks to humanity, featuring interviews with top AI company CEOs and other experts. Co-director Charlie Tyrell and producer Ted Tremper join CBS News to discuss the making of the film, "The AI Doc: Or How I Became an Apocaloptimist."
Polymarket buckles down on insider trading after suspiciously timed bets
Polymarket tightened its rules after questions surfaced over whether some prediction market customers engaged in insider trading.
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.
Musk says he'll manufacture chips in Texas
Elon Musk says he will make chips in the U.S. for use in Teslas and robots. Reuters global aerospace editor Joe Brock joins to discuss.
Here are Elon Musk's "most epic" goals for his vast Terafab chip plant
Elon Musk unveiled plans for a massive chip manufacturing facility in Austin, Texas, that he said will power his "galactic" aspirations.
Science
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Science
How a fun nature app aids science
The iNaturalist cellphone app not only helps users identify plant, animal and insect species; it also provides invaluable data to scientists studying biodiversity, species decline, and habitat loss. It also provides opportunities for fun: David Pogue joins iNaturalist fan Martha Stewart in a "bioblitz" – a timed competition with other users to spot and ID species.
Discovery of 1949 whale recording could unlock mysteries of ocean
The song is that of a humpback whale and was recorded by scientists in March 1949 in Bermuda, researchers said.
Sea levels higher than thought due to "methodological blind spot," study says
A new study in the journal Nature says most sea level rise research may have underestimated coastal water heights by an average of 1 foot.
NASA announces major overhaul of Artemis moon program "to take down risk"
NASA Administrator Jared Isaacman announced significant changes to the agency's Artemis program, which aims to land on the moon in 2028.
What scientists will be looking for when government UFO files are released
Documents might help scientists shed light on unexplained phenomena and government secrets, experts said.
Crime
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U.S. Park Police officer "ambushed," shot by 2 men in Washington, officials say
A U.S. Park Police officer was seriously wounded in an "ambush" shooting in Washington, law enforcement officials said. The officer was "targeted," they said.
Suspect in Loyola Chicago death misses first court date
Prosecutors say the man charged in the murder of Loyola University Chicago student Sheridan Gorman missed his first court appearance Monday as he receives treatment for tuberculosis. CBS News immigration correspondent Camilo Montoya-Galvez has the latest.
Justin Timberlake's 2024 arrest on video
Newly released bodycam footage shows Justin Timberlake during his 2024 DWI arrest in New York. CBS News' Shanelle Kaul has more.
Suspected hate crime as 4 Jewish group ambulances set ablaze in London
Police in London are investigating a suspected antisemitic hate crime after vehicles belonging to a Jewish ambulance service were set on fire early Monday morning.
Fentanyl found inside Barbies sold at Missouri discount store, police say
Police found that five Barbie packages containing fentanyl were sold. They have all been recovered.
Space
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Space
Artemis II back on launch pad for moon mission
NASA's Artemis II rocket is back on the launch pad after repairs inside the massive Vehicle Assembly Building at the Kennedy Space Center. Early next month, NASA will try, for a second time, to send a crew of four on a flyby of the moon. Mark Strassmann has more.
Possible meteorite crashes into Houston area home, officials say
A possible meteorite crashed into a Houston area house on Saturday night, tearing through the roof and two stories of the home, officials said.
Eileen Collins on breaking barriers in space
Retired NASA astronaut and Air Force Col. Eileen Collins joins "CBS Saturday Morning" to discuss her groundbreaking journey to become the first woman to pilot the Space Shuttle and the first to command a Space Shuttle mission.
Repaired moon rocket heads back to launch pad for April 1 liftoff
After a trip back out to the launch pad, NASA's Artemis II rocket will be readied for a historic flight to the moon.
Video shows meteor streaking across the sky
A meteoroid was spotted streaking across the sky in 10 states. In some areas, there was also a loud boom, similar to an explosion. NASA says the meteor, which was traveling 45,000 mph in the sky, fragmented - causing the bright fireball and loud boom.
Latest Galleries
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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.
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
3/23: The Takeout with Major Garrett
Two pilots die after an Air Canada Express flight hits a fire-rescue truck at LaGuardia Airport; Trump calls off his Strait of Hormuz ultimatum.
Official: U.S. sent Iran a message through mediators
Iran has received a message from the U.S. through mediators as a potential precursor to talks between the two countries, a senior Iranian Foreign Ministry official told CBS News on Monday. Clay Seigle, senior fellow at the Center for Strategic and International Studies, joins CBS News to discuss the war.
Senate confirms Mullin as DHS secretary
The Senate on Monday confirmed Republican Sen. Markwayne Mullin of Oklahoma to lead the Department of Homeland Security, replacing Kristi Noem.
Makers of "The AI Doc" on tech's peril, promise
A new documentary examines the artificial intelligence boom and its potential risks to humanity, featuring interviews with top AI company CEOs and other experts. Co-director Charlie Tyrell and producer Ted Tremper join CBS News to discuss the making of the film, "The AI Doc: Or How I Became an Apocaloptimist."
Families displaced in catastrophic Hawaii flooding
Parts of O'ahu and Maui were battered by a pair of massive storms, which the governor said had unleashed up to 4 feet of rain in certain areas. It caused the worst flooding in 20 years. Matt Gutman reports.