Kevin Warsh is now leading the Fed. His main challenge is a doozy.
Warsh is taking over as Fed chair as the U.S. faces the hottest inflation in years, impeding the interest rate cuts that President Trump has demanded.
Federal Reserve
Expert: Warsh has "difficult job in front of him"
President Trump on Friday hosted a swearing-in ceremony for the new Federal Reserve Chair, Kevin Warsh. Jon Hilsenrath, visiting scholar at Duke University, joins with analysis on what Warsh will face in the coming months.
Kevin Warsh sworn in as new Fed chair
Kevin Warsh was sworn in as the new Federal Reserve chair on Friday, replacing Jerome Powell. During the ceremony, President Trump insisted Warsh will remain independent as he navigates inflation and other U.S. economic concerns. CBS News' Ed O'Keefe and Emily Pandise report.
Analyzing Jerome Powell's legacy
Friday marked Jerome Powell's last day as Chairman of the Federal Reserve. CBS News producer Emily Pandise takes a look at his legacy.
How will Jerome Powell be remembered as he exits as Fed chair?
As Powell steps down after more than eight years leading the Federal Reserve, economists say he helped steer the U.S. through historic shocks but misread inflation.
Powell's legacy as Federal Reserve chair
Federal Reserve Chair Jerome Powell's last day comes after a tense tenure through a pandemic, economic turmoil and a rocky relationship with President Trump. CBS News' Emily Pandise reports.
Powell's tenure ends as Federal Reserve chair
Kevin Warsh is expected to take over as chair of the Federal Reserve as Jerome Powell concludes his tenure. Kristin Myers, the senior vice president of content and editor in chief of ETF.com, joins CBS News with more.
Senate confirms Kevin Warsh as next Fed chair
Kevin Warsh was confirmed by the Senate on Wednesday as the next Federal Reserve chair. Warsh will succeed Jerome Powell, whose term ends Friday. CBS News' Caitlin Huey-Burns has more.
Fed unlikely to cut interest rates until 2027, Bank of America says
A "hawkish" turn at the Fed and stubbornly high inflation could delay interest rate cuts, according to Bank of America economists.
Minneapolis Fed president on interest rates
Neel Kashkari, the president and CEO of the Minneapolis Fed, told "Face the Nation with Margaret Brennan" that while economists have been watching for an interest rate cut, "we all need to be open-minded about where interest rates are going because there's so much uncertainty coming out of the Middle East."
Fed holds interest rates steady again
The Federal Reserve on Wednesday held its benchmark interest rate steady for the third consecutive month as the U.S. economy faces rising inflation. Kelly O'Grady reports.
Powell to stay on Federal Reserve board as policy makers hold rates steady
Fed chief Jerome Powell said he will remain as a governor on the central bank's board after his term as chair ends on May 15.
Why Fed kept rates same for third consecutive time
For its third consecutive meeting, the Federal Reserve left its benchmark interest rate unchanged. CBS News MoneyWatch correspondent Kelly O'Grady reports.
Senate Banking Committee advances Kevin Warsh's nomination for Fed chair
Senators voted along partisan lines, with Republicans backing Warsh's nomination to lead the Fed and Democrats on the panel opposing him.
Powell staying on Fed board after term ends
Jerome Powell held his last news conference as Federal Reserve chair on Wednesday, announcing his intention to stay on the central bank's board as a governor "for a period of time to be determined" following the end of his term.
Federal Reserve holds interest rates steady
The Federal Reserve held its benchmark interest rate steady on Wednesday as the U.S. economy continues to grapple with rising inflation. CBS News MoneyWatch correspondent Kelly O'Grady has more.
Tillis says he's ready to move forward with Warsh's nomination for Fed chair
U.S. Attorney Jeanine Pirro said Friday her office is dropping its criminal investigation into Fed Chairman Jerome Powell and the $2.5 billion renovation of the central bank's headquarters.
End of DOJ Powell probe could clear way for Warsh
The Justice Department has dropped its criminal investigation into outgoing Federal Reserve Chair Jerome Powell over the central bank's renovation. The move clears a key hurdle for President Trump's pick to replace Powell, Kevin Warsh. CBS News congressional correspondent Nikole Killion reports.
4/24: The Takeout with Major Garrett
Second round of U.S.-Iran peace talks expected this weekend; U.S. soldier charged for allegedly using confidential info to bet on Maduro's removal.
White House DOJ dropping Jerome Powell probe
The Justice Department announced Friday that it would be dropping an investigation into Federal Reserve Chair Jerome Powell. CBS News' Kelly O'Grady reports.
Justice Department drops Jerome Powell probe
U.S. Attorney Jeanine Pirro announced Friday that the Justice Department is dropping the investigation into Federal Reserve Chairman Jerome Powell.
Tillis: "Hard to tell" where U.S. is in Iran war
Wednesday marks 53 days since the U.S. launched the war with Iran. Republican Sen. Thom Tillis of North Carolina joins "The Takeout" to discuss the state of the conflict and more.
Kevin Warsh on Fed independence
President Trump's nominee to head the Federal Reserve assured lawmakers on Tuesday that he would maintain strict independence. Kristin Myers, the senior vice president of content and editor in chief of ETF.com, joins CBS News with more.
Key moments at Warsh confirmation hearing
Kevin Warsh, President Trump's nominee to replace outgoing Federal Reserve Chair Jerome Powell, faced tense questioning from senators at his confirmation hearing on Tuesday. Here are some of the most notable exchanges.
What led to Cherfilus-McCormick's resignation?
Democratic Rep. Sheila Cherfilus-McCormick of Florida resigned from Congress on Tuesday ahead of a House Ethics Committee hearing to decide how to sanction her for more than two dozen campaign finance-related violations. CBS News congressional reporter Taurean Small has more.
In U.N. speech, Trump threatens to "annihilate" Iran and defends foreign policy
President Trump said he could "annihilate" Iran while predicting that Tehran would make a deal to end the war after the U.S. midterm elections.
Exclusive
U.S. to welcome up to 17,500 more White South Africans as refugees
The Trump administration is planning to welcome up to 17,500 additional White Afrikaners from South Africa as refugees over the next 12 months, according to a notice sent to Congress.
Exclusive
Ukraine ready to sign landmark drone defense deal with U.S., sources say
Sources tell CBS News that Ukraine is ready to sign a landmark drone defense deal with the U.S., as new details of Ukrainian technology helping defend U.S. bases in the Middle East come to light.
Supreme Court stays out of custody dispute between California couple and surrogate
Justice Elena Kagan declined a request from a surrogate to intervene in a custody dispute with a California couple.
Live
U.S., Iran hold talks as Trump weighs cutting a deal or driving Iran "into hell"
President Trump tells the U.N. he has a "big decision to make" on whether to make a deal or drive Iran "into hell."
Hurricane Polo grows into powerful Category 5 storm off Mexico. See its path.
Hurricane Polo rapidly intensified in the Pacific off the southwestern Mexican coast, growing into a Category 5 storm. Here's the latest on its path.
Hayden Panettiere died from accidental overdose, autopsy finds
An autopsy by the Greenville County Coroner's Office determined Hayden Panettiere's death was accidental.
ICE officer who shot Venezuelan man wasn't wearing body camera, sources say
The ICE officer who shot a Venezuelan delivery driver was not wearing a body camera at the time of the shooting, sources familiar with the investigation told CBS News.
Exclusive
5 moments from Patrick Clancy's 60 Minutes interview
Patrick Clancy sat down with 60 Minutes in New York City for a lengthy conversation about his ex-wife Lindsay Clancy's struggles with mental health, his grief and the social media frenzy surrounding him.
U.S.
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Meta's Muse shopping agent is a hit, as AI commerce starts to take off
Meta's new AI tool now ranks at the top of the App Store. Some retail experts see a "natural evolution from search."
Andreessen Horowitz launches AI school as college alternative
One of Silicon Valley's most prominent venture investors is gearing its new tech academy toward aspiring entrepreneurs focused on building AI.
Supreme Court stays out of custody dispute between California couple and surrogate
Justice Elena Kagan declined a request from a surrogate to intervene in a custody dispute with a California couple.
What is the White House press pool and how does it work?
President Trump's move to ban CNN, MS NOW and Politico from the White House has highlighted the role of the press pool.
Exclusive
U.S. to welcome up to 17,500 more White South Africans as refugees
The Trump administration is planning to welcome up to 17,500 additional White Afrikaners from South Africa as refugees over the next 12 months, according to a notice sent to Congress.
MoneyWatch
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Meta's Muse shopping agent is a hit, as AI commerce starts to take off
Meta's new AI tool now ranks at the top of the App Store. Some retail experts see a "natural evolution from search."
Andreessen Horowitz launches AI school as college alternative
One of Silicon Valley's most prominent venture investors is gearing its new tech academy toward aspiring entrepreneurs focused on building AI.
3 guys hacked OpenAI using a rival Anthropic model. Here's what to know.
Cybersecurity researchers from a small firm called Hacktron in India broke into OpenAI, showing how vulnerable frontier labs are.
Diesel prices just hit a new record. Would a U.S. export ban bring relief?
Some lawmakers want to halt U.S. diesel exports as prices top $6.50 a gallon. But such a ban could have unintended consequences, experts say.
Have an Apple iPhone 15 or 16? How to file a claim for up to $95.
The claims window is open until Dec. 21, 2026. To file a claim, iPhone users must enter basic personal info and their iPhone's serial number.
Politics
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DOJ charges Utah postal worker for allegedly dumping mail ballots in trash
The Justice Department says a U.S. Postal Service letter carrier in Utah threw out more than 300 mail ballots that were being sent to voters for the state's June primary.
Supreme Court stays out of custody dispute between California couple and surrogate
Justice Elena Kagan declined a request from a surrogate to intervene in a custody dispute with a California couple.
What is the White House press pool and how does it work?
President Trump's move to ban CNN, MS NOW and Politico from the White House has highlighted the role of the press pool.
Exclusive
U.S. to welcome up to 17,500 more White South Africans as refugees
The Trump administration is planning to welcome up to 17,500 additional White Afrikaners from South Africa as refugees over the next 12 months, according to a notice sent to Congress.
ICE officer who shot Venezuelan man wasn't wearing body camera, sources say
The ICE officer who shot a Venezuelan delivery driver was not wearing a body camera at the time of the shooting, sources familiar with the investigation told CBS News.
HealthWatch
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Even the smallest joys can help prevent suicide, researchers say
New research highlights common themes shared by people who found reasons to keep living through dark times.
First on CBS
JB Pritzker reveals GLP-1 use, pressed on possible presidential run
Illinois Gov. JB Pritzker revealed to "CBS Mornings" that for the last two years he has been using a GLP-1 medication to lose weight.
Her son was dying, but his rare cancer made it difficult to get the right drug
As knowledge about genetics advances, some doctors say cancers should be defined by their mutations, not the tissues where they manifest.
Her postpartum symptoms wouldn't go away. A brain tumor was to blame.
Lisa Fasone's first pregnancy went smoothly. Then a rare health condition put her dreams of a second child on hold.
RFK Jr. tells anti-vaccine activists they have a "friend in the White House"
Health and Human Services Secretary Robert F. Kennedy Jr. spoke at a conference hosted by an organization he once led that has promoted doubts about vaccines.
World
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Exclusive
Ukraine ready to sign landmark drone defense deal with U.S., sources say
Sources tell CBS News that Ukraine is ready to sign a landmark drone defense deal with the U.S., as new details of Ukrainian technology helping defend U.S. bases in the Middle East come to light.
Georgia couple who survived Nepal flood shares their story
Mita and Hemant Parikh decided to split from their group and take a side trip during their long-planned pilgrimage. They're now safely back home, but none of the families they were traveling with have been found.
Exclusive
U.S. to welcome up to 17,500 more White South Africans as refugees
The Trump administration is planning to welcome up to 17,500 additional White Afrikaners from South Africa as refugees over the next 12 months, according to a notice sent to Congress.
Senators press Rubio to prioritize release of American held in Iran
Reza Valizadeh, a U.S.-Iranian dual citizen and former journalist for U.S.-funded broadcaster Radio Farda, has been imprisoned in Iran since September 2024.
U.S. fighter jet crashes at air base in Germany, injuring pilot
The U.S. Air Base Spangdahlem said that the pilot ejected and was receiving medical care.
Entertainment
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Entertainment
Hayden Panettiere cause of death revealed
Actress Hayden Panettiere died from an accidental overdose of fentanyl and several other drugs, according to a coroner in South Carolina. Lilia Luciano reports.
Hayden Panettiere died from accidental overdose
A South Carolina coroner revealed Tuesday that actor Hayden Panettiere died from an accidental overdose of several drugs, including fentanyl. CBS News national correspondent Lilia Luciano has more.
Judge Judy reflects on 30-year career
Judith Sheindlin, known on TV as Judge Judy, sits down with "CBS Mornings" to discuss her 30-year career as she passes the torch to her son, Adam.
Grandmaster Flash talks new book on hip-hop
Grandmaster Flash speaks with Nate Burleson about his new book, "Birth of a Culture," where he gives readers an intimate look at his role in the birth of hip-hop.
Hayden Panettiere died from accidental overdose, autopsy finds
An autopsy by the Greenville County Coroner's Office determined Hayden Panettiere's death was due to an accidental overdose of several drugs, including fentanyl.
Technology
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Technology
How a "swarm" of AI agents hacked a company
Experts are worried about the dangers of "swarms" of AI models coming together to accomplish a complex task for nefarious reasons. CBS News' Megan Cerullo breaks down what this means.
Downloads surge for Meta's new AI agent Muse
Meta's new AI personal assistant, Muse, has reached the top of the U.S. App Store charts, surpassing competitor ChatGPT. CBS News digital reporter Lauren Fichten details how the app's popularity is helping Meta play catch-up in the AI race.
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.
Trump rejects calls to rein in AI
At the U.N. General Assembly on Tuesday, President Trump told world leaders that the U.S. rejects efforts to rein in artificial intelligence. Stephen Witt, a journalist focused on AI, joins "The Takeout" with analysis.
Meta's Muse shopping agent is a hit, as AI commerce starts to take off
Meta's new AI tool now ranks at the top of the App Store. Some retail experts see a "natural evolution from search."
Science
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Science
Neuroscientists grow human brain tissue in mice
Neuroscientists at Stanford University successfully grew human brain tissue inside mice in the hopes of further enabling the development of treatments for brain disorders. Stanford Medicine professor of psychiatry and behavioral sciences Dr. Sergiu Pasca, who led the study, joins CBS News to break down the findings.
New species of wild cat discovered for first time in more than a century
Scientists have discovered a new species of wild cat for the first time in more than a century, a Bolivian researcher says.
Humpback whale seen grieving dead calf in rare footage
The footage shows a female humpback whale staying close to the dead calf as it lies motionless on the seafloor, touching it with its head and fin.
Remains of ancient warhorse given honorific burial discovered in Egypt
Archaeologists say they've discovered the remains of a likely ancient Egyptian warhorse given an honorific burial more than 3,000 years ago.
Anthropic CEO says "exponential" growth of AI is a "warning sign"
Artificial intelligence technology is developing at an "exponential" rate, Anthropic CEO Dario Amodei told CBS News, calling the situation a "warning sign" for the industry that requires serious safeguards.
Crime
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Crime
Concerns over kids' safety getting off the bus
When a school bus stops to pick up kids, the other cars on the road are supposed to stop with it. But thousands of times a day, they do not. As Mark Strassmann reports, some areas have found a way to crack down.
Hayden Panettiere cause of death revealed
Actress Hayden Panettiere died from an accidental overdose of fentanyl and several other drugs, according to a coroner in South Carolina. Lilia Luciano reports.
Political donations form family tied to suspected Chinese spy
A family tied to a suspected Chinese spy made $4.4 million in donations to California politicians, including Gov. Newsom, a CBS News investigation found. CBS News' Josh Boswell breaks it down.
Man shot by ICE: "I'm not doing well"
Wilber Rafael Garces Perez was shot in the back by an Immigration and Customs Enforcement agent in Austin, Texas. Garces Perez's lawyer says he had a work permit and was seeking asylum but had missed a deportation order sent to an old address. CBS News' Jason Allen reports.
"Looksmaxxing" influencer Clavicular charged with rape in Massachusetts
Online personality "Clavicular," whose real name is Braden Peters, faces two felony charges and one misdemeanor charge. He denies the allegations.
Space
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NASA spacecraft discovers moon crater bigger than Roman Colosseum
Scientists have discovered a crater on the moon that's bigger than the Roman Colosseum, the result of a powerful impact two years ago.
NASA launches its Roman Space Telescope to explore the hidden universe
NASA's Roman Space Telescope launched shortly after daybreak from Kennedy Space Center and blazed toward an observation point 1 million miles away.
Roman Space Telescope promises 300-megapixel views of the cosmos
The $4.3 billion telescope is expected to discover tens of thousands of exoplanets while probing the nature of mysterious dark matter and energy.
First on CBS
Trump to honor Artemis II crew with nation's top space medal
President Trump plans to award the Congressional Space Medal of Honor to the crew of NASA's Artemis II mission in a ceremony Aug. 28.
NASA's Swift telescope will plunge toward Earth after rescue mission called off
The mission to save NASA's sinking space telescope has been called off, dooming the telescope to a fiery reentry later this year.
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.
Dolly Parton: An extraordinary life in pictures
Dolly Parton, the country music legend who became a feminist icon, has died at the age of 80. Here is a look back at her life in pictures.
Investigating the death of designer Sylvie Cachay
Sylvie Cachay was found dead in an overflowing bathtub at the exclusive Soho House in New York City on Dec. 9, 2010. A water leak at the hotel gave away a timeline that may have revealed her killer.
Summer music highlights of 2026
Summer is the time to enjoy live music, indoors and out. Scroll through our gallery of some of 2026's leading musical acts, featuring images by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
Photos show celebrations at Obama Presidential Center
The Obama Presidential Center, museum and library opens in Chicago with a star-studded grand opening ceremony and public watch party on Midway Plaisance.
Latest CBS News Videos
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Latest CBS News Videos
Extended interview: Patrick Clancy
Patrick Clancy wrestles with grief and shares memories of his children in his first interview since his ex-wife Lindsay Clancy's murder trial ended without a verdict.
Trump hosting Rodríguez at world leader dinner
President Trump is hosting acting Venezuelan President Delcy Rodríguez at a dinner for world leaders while they are both in New York for the U.N. General Assembly. CBS News national correspondent Lilia Luciano has more.
U.S. accepting White South Africans as refugees
The Trump administration is planning to welcome up to 17,500 more White South Africans as refugees over the next 12 months. CBS News immigration correspondent Camilo Montoya-Galvez reports.
New book shares stories from Afghan refugees
Diana Kapp is co-author of "The Last Free Women," which details the bravery of women who escaped the Taliban regime to build new lives in America. She and Mursal Rahim, one of the Afghan refugees featured in the book, join "The Daily Report" to discuss their stories.
Police release new video of man shot by ICE
The Austin Police Department on Tuesday released new video of the man shot by ICE in Texas over the weekend. CBS News' Jason Allen has more.