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 NATO allies "cowards" as more Marines head toward Middle East
The Iran war is nearing the three-week mark as about 2,200 more U.S. Marines and three more warships are headed toward the region, two U.S. officials say.
Exclusive
U.S. preparing for potential use of ground troops in Iran
It is unclear under what circumstances President Trump would authorize the use of U.S. troops on the ground in Iran.
Senate fails to advance DHS funding bill for 5th time, with no deal in sight
Border czar Tom Homan is expected back on Capitol Hill later Friday for bipartisan talks.
Chuck Norris, action icon and "Walker, Texas Ranger" star, dies at 86
Chuck Norris' family said his death at 86 was sudden, but did not share any other information.
Former Iran detainees fear Americans held in Iranian prisons face heightened danger
Siamak Namazi, who was released from Iran's Evin prison in 2023, said "it's important" that President Trump "hears that there are innocent Americans being held like we were as political pawns."
Florida homeowners insurance company accused of siphoning profits
As Florida moves homeowners' policies out of its state-run insurer of last resort, insiders question one new company's finances.
U.S. sues Harvard, alleging it failed to protect Jewish and Israeli students
The Trump administration argued that Harvard unlawfully discriminated against Jewish and Israeli students, in violation of federal civil rights law.
Spanish police say James Gracey's death was likely accidental
Police in Barcelona said the death of Jimmy Gracey, a University of Alabama student from Illinois who went missing on vacation, was likely an accident.
DOJ seeks to drop case against ex-police officers charged in Breonna Taylor's death
Two former Louisville police officers were facing civil rights charges in connection with the 2020 shooting death of Breonna Taylor.
U.S.
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Hawaii flooding prompts evacuation orders for more than 4,000 people
Honolulu officials said the Wahiawa dam is failing or expected to fail soon and residents nearby should evacuate.
CBS News Radio to shut down after nearly a century of broadcasting
CBS News announced Friday that CBS News Radio will be shutting down this spring after nearly 100 years of broadcasting, citing "challenging economic realities."
Getting ready to fly? Here are 3 ways to track TSA wait times.
Security lines are stretching up to 2 hours at some airports amid TSA staffing shortages. Here's how to check wait times before you leave.
Are the Trump administration's efforts to lower oil and gas prices working?
With gas closing in on $4 a gallon, the Trump administration is pulling multiple levers to tame energy prices. The results have been mixed.
DOJ seeks to drop case against ex-police officers charged in Breonna Taylor's death
Two former Louisville police officers were facing civil rights charges in connection with the 2020 shooting death of Breonna Taylor.
MoneyWatch
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CBS News Radio to shut down after nearly a century of broadcasting
CBS News announced Friday that CBS News Radio will be shutting down this spring after nearly 100 years of broadcasting, citing "challenging economic realities."
Getting ready to fly? Here are 3 ways to track TSA wait times.
Security lines are stretching up to 2 hours at some airports amid TSA staffing shortages. Here's how to check wait times before you leave.
Are the Trump administration's efforts to lower oil and gas prices working?
With gas closing in on $4 a gallon, the Trump administration is pulling multiple levers to tame energy prices. The results have been mixed.
Nearly 90,000 bottles of children's ibuprofen recalled across the U.S.
A pharmaceutical company issued the recall after receiving complaints of "gel-like mass and black particles" in the product, the FDA said.
U.S. shoppers should brace for impact of higher oil prices, experts say
Experts warn that surging energy costs are likely to ripple through U.S. supply chains, resulting in higher prices online and in stores.
Politics
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Senate fails to advance DHS funding bill for 5th time, with no deal in sight
Border czar Tom Homan is expected back on Capitol Hill later Friday for bipartisan talks.
Former Iran detainees fear Americans held in Iranian prisons face heightened danger
Siamak Namazi, who was released from Iran's Evin prison in 2023, said "it's important" that President Trump "hears that there are innocent Americans being held like we were as political pawns."
DOJ seeks to drop case against ex-police officers charged in Breonna Taylor's death
Two former Louisville police officers were facing civil rights charges in connection with the 2020 shooting death of Breonna Taylor.
Exclusive
U.S. preparing for potential use of ground troops in Iran
It is unclear under what circumstances President Trump would authorize the use of U.S. troops on the ground in Iran.
6 highlights from CBS News' interview with IAEA chief Rafael Grossi
The United Nations' top nuclear watchdog, IAEA Director-General Rafael Grossi, told CBS News that Iran still has the technical ability to restart its nuclear program, even though U.S. military strikes dented the program.
HealthWatch
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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.
Dr. Oz pledges to tackle hospice fraud: "Do not steal from the American people"
The Trump administration's Medicare boss reacts to CBS News investigation into California's hospice fraud problems.
Millions of Americans skip meals, stretch medication to afford health care
Even people with six-figure incomes are making financial sacrifices to pay for medical care, a new study finds.
World
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Former Iran detainees fear Americans held in Iranian prisons face heightened danger
Siamak Namazi, who was released from Iran's Evin prison in 2023, said "it's important" that President Trump "hears that there are innocent Americans being held like we were as political pawns."
Are the Trump administration's efforts to lower oil and gas prices working?
With gas closing in on $4 a gallon, the Trump administration is pulling multiple levers to tame energy prices. The results have been mixed.
Exclusive
U.S. preparing for potential use of ground troops in Iran
It is unclear under what circumstances President Trump would authorize the use of U.S. troops on the ground in Iran.
Mexican president says citizen deaths in U.S. custody "can't be happening"
Mexican President Claudia Sheinbaum on Friday condemned the deaths of three Mexican nationals in ICE custody this year.
NATO pulls several hundred personnel from Iraq amid Iran war
The announcement comes as NATO faces criticism from President Trump, who's seeking military assistance in securing the key Strait of Hormuz.
Entertainment
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CBS News Radio to shut down after nearly a century of broadcasting
CBS News announced Friday that CBS News Radio will be shutting down this spring after nearly 100 years of broadcasting, citing "challenging economic realities."
Bodycam video of Justin Timberlake's DWI arrest to be released
Bodycam video footage of Justin Timberlake's June 2024 DWI arrest on Long Island will be released to the media with redactions, court records show.
Chuck Norris dies at age 86
Action star Chuck Norris has died at age 86, his family announced Friday. CBS News' Mugo Odigwe reports.
Taylor Frankie Paul mugshot emerges
Reality TV star Taylor Frankie Paul's booking photo for an apparent incident in 2023 has emerged. Entertainment Tonight's Nischelle Turner joins with more details.
Chuck Norris, action icon and "Walker, Texas Ranger" star, dies at 86
Chuck Norris' family said his death at 86 was sudden, but did not share any details on the cause.
Technology
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Technology
AI version of Val Kilmer to star in new movie
Val Kilmer was originally set to star in "As Deep as the Grave" before he died last year, never shooting a scene of the movie. But Kilmer will still star in the film thanks to generative AI, which is artificial intelligence that can generate new content by analyzing existing content. Jo Ling Kent has more.
Risks of excessive screen time for adults
More than 80% of adults say they go online at least several times per day and research indicates that even adults' fully-formed brains can suffer negative consequences from excessive screen time. Dr. Sue Varma breaks down risks, tips to reduce your screen time and why adults are spending more time on screens.
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.
Inside NVIDIA's new chip
NVIDIA's GTC conference brought big crowds to Silicon Valley this week, with hundreds of companies showcasing products powered by NVIDIA's chips. Tim Werth, tech editor at Mashable, joins CBS News to discuss.
AI expert designs cancer vaccine for his dog
A tech entrepreneur in Australia, Paul Conyngham, said he used artificial intelligence to design a cancer vaccine for his dog Rosie. He joins CBS News with Páll Thordarson, director of the UNSW RNA Institute, who worked with Conyngham on the technology.
Science
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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.
In a first, shark seen on camera in Antarctica waters, surprising researchers
A large shark was caught on camera for the first time in Antarctica's waters, surprising researchers. "There's a general rule of thumb that you don't get sharks in Antarctica," one said.
Crime
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Bodycam video of Justin Timberlake's DWI arrest to be released
Bodycam video footage of Justin Timberlake's June 2024 DWI arrest on Long Island will be released to the media with redactions, court records show.
Justice Department subpoenas James Comey
Federal prosecutors in Miami subpoenaed former FBI Director James Comey as part of a probe into Obama-era intelligence officials, two sources familiar with the investigation tell CBS News. Jake Rosen reports.
"American Nightmare" survivor Denise Huskins' new discovery exposes victim privacy loophole in California law
The failure to protect explicit case evidence in Denise Huskins' kidnapping and sexual assault case is driving reform at the State Capitol. New developments exposed a little-known gap in state law that could expose videos of sexual assault victims.
Derrick Thompson sentenced to nearly 59 years in prison
Several Minnesota families saw justice served on Thursday morning after five young women were killed in a high-speed crash two summers ago in Minneapolis.
Shocking discovery after man's disappearance
In the summer of 2013, Minnesota resident Gary Herbst seemingly disappeared. Years later, investigators made a startling discovery. Peter Van Sant has the story for "48 Hours."
Space
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Repaired moon rocket heads back to launch pad for April 1 blastoff
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.
7-ton meteor identified as likely cause of boom heard across Ohio
Some residents immediately feared the sound was an explosion, according to CBS affiliate WOIO, but weather service officials say it appears to have been a meteor.
Bill Nye on going from Boeing to science guy
Bill Nye the Science Guy sits down with CBS News chief Washington correspondent Major Garrett to talk about his life and career.
NASA targets April 1 for moon mission launch
NASA's huge Space Launch System rocket has been repaired and is ready for rollout back to the launch pad next week.
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
Sister of ex-Iran detainee's message to Americans
Some Americans who are wrongfully detained abroad have found the prospect of their release tied to bigger and broader political issues. Neda Sharghi, whose brother Emad was freed from Iran in 2023 after five years of captivity, explains.
Former Iranian prisoners' message to Trump
Former prisoners in Iran, Emad Shargi and Siamak Namazi, told "Face the Nation" moderator Margaret Brennan their message to President Trump about current Americans held there.
Former detainees on notorious Iranian prison
"Face the Nation" moderator Margaret Brennan spoke with former Iran detainees Emad Shargi and Siamak Namazi about the country's notorious Evin prison and who is held there.
Sister of former Iran detainee on designation
The family and friends of Americans who are held in Iran fear for their safety as strikes intensify. "Face the Nation" moderator Margaret Brennan spoke with Neda Sharghi, the sister of Emad Shargi, who was held in Iran for five years.
Ex-U.S. official on freeing Iran detainees
President Trump has listed four objectives for the war with Iran, and the freeing of Americans wrongfully detained by the regime is not one of them. Roger Carstens, former special presidential envoy for hostage affairs in the Biden and first Trump administrations, joins "Face the Nation" with analysis.