Fed issues largest rate hike in decades
The Federal Reserve issued its largest interest rate hike in nearly three decades as it tries to slow the economy without causing a recession. Carter Evans has more on what that means.
Federal Reserve
Fed hikes key interest rate 0.75 percentage points as it battles inflation
"Inflation is much too high," Fed Chair Jay Powell said of the U.S. central bank's largest rate hike since 1994.
Fed could announce largest hike in decades
The Federal Reserve is expected to announce its biggest interest rate hike in almost three decades. The bank is hoping to slow down surging prices on everything from rent to gas. CBS News chief White House correspondent Nancy Cordes reports and CBS News reporter Sarah Ewall-Wice joins Vladimir Duthiers and Anne-Marie Green to discuss the impending rate hike.
Fed could announce interest rate hike
The fight against sky-high inflation could enter a critical phase today as the Fed decides whether to raise interest rates. Director of portfolio strategy at Optimal Capital, Frances Stacy, joins CBS News Mornings with more analysis.
Fed rate hike expected to tackle inflation
The Federal Reserve is expected to announce its biggest rate hike amid growing fears of a recession. The Fed, which will announce its decision on Wednesday, could lift rates and mark the sharpest increase since 2000. Chief White House correspondent Nancy Cordes reports from the White House.
Fed to consider aggressive action amid high inflation
An expected interest rate hike comes as everything from gas and food to air travel have seen the largest annual increase in decades. Interest rate hikes could potentially create more economic pain for consumers by increasing borrowing costs and discouraging spending. Meg Oliver reports.
Economy expert on stock market slump
Wall Street has entered a bear market, but experts warn you shouldn't do anything rash. CBS News Business Analyst Jill Schlesinger spoke to Anne-Marie Green and Vladimir Duthiers on CBS News about how to handle your finances in a down market, and what's to blame for plummeting prices.
Average gas prices top $5 for first time ever
For the first time ever, the average price for a gallon of gas in the U.S. is above $5. And many in America are feeling the squeeze well beyond the pumps. Lilia Luciano reports from Los Angeles.
U.S. inflation surging at fastest pace in 40 years
Prices are skyrocketing as inflation is surging at its fastest pace in more than 40 years. Rampant inflation is hitting America's pocketbooks, but it's also impacting President Biden, as surveys show Americans see it as the nation's top problem. Ed O'Keefe has the latest.
High inflation hampers summer travel plans
Vacation inflation is hitting summer travelers. Airfare, hotel and rental car costs have skyrocketed compared to recent years. Kris Van Cleave takes a look.
White House economist addresses inflation
The U.S. Department of Labor reported Friday that inflation reached its highest rate in more than 40 years in May. CBS News' Tanya Rivero and Michelle Miller spoke with Jared Bernstein, a member of the White House's Council of Economic Advisers, about the Biden Administration's response to surging prices.
Inflation rate hits new 40-year high
The U.S. Labor Department reports inflation reached a new 40-year high at 8.6%. Wall Street Journal reporter Dion Rabouin breaks down what this means for the economy, and what steps the Federal Reserve should consider to combat rising prices.
U.S. gas prices hit record-high
Americans are paying record-high prices for gasoline as the summer travel season kicks off. CBS News correspondent Carter Evans has more on the rising gas prices. Then, John Leer, the chief economist for Morning Consult, joins Lana Zak on CBS News to discuss the U.S. economy and more.
Biden: May jobs report "sign of a healthy economy"
President Biden is praising his administration's efforts at reviving the U.S. economy since taking office last year. The latest numbers from the Bureau of Labor Statistics shows that the U.S. added 390,000 new jobs in May despite fears of a slowing economy. The president says the new numbers reflect a healthy economy. CBS News senior White House and political correspondent Ed O'Keefe has more.
Jamie Dimon: Interest rates, war will cause economic "hurricane"
It won't necessarily be a recession, but expect a rocky road ahead, warns the JPMorgan Chase CEO.
White House adviser talks fighting inflation
The U.S. is struggling with some of its highest levels of inflation in four decades. Heather Boushey, who is on the White House’s Council of Economic Advisers, joins CBS News to discuss the Biden Administration’s plans to address its new top economic priority, inflation.
MoneyWatch: Stocks down to close out May
The major stock indexes ended Tuesday with losses after ping-ponging throughout the day. Geetu Sharma, the founder and investment manager of AlphasFuture LLC, joins CBS News during the closing bell on Wall Street to discuss what was driving the market and what to expect in June.
MoneyWatch: Biden meeting with Fed chair
Americans have been facing rapidly increasing prices at the gas station and grocery store and in the housing market. President Biden is expected to address this during a meeting with Federal Reserve Chairman Jerome Powell on Tuesday. Frances Stacy, director of strategy at Optimal Capital, joined "CBS News Mornings" to discuss what's contributing to high inflation.
Stock market comeback gains steam
Greg Swenson, a founding partner of the merchant banking firm Brigg Macadam, joins CBS News' Jim Axelrod to discuss the latest stock market updates.
Jerome Powell confirmed by Senate to second term as Fed chair
"The Federal Reserve plays a primary role in fighting inflation," President Biden said in his statement on Powell's confirmation.
Fed ups interest rates to battle record inflation
With the Federal Reserve introducing the steepest interest rate increase since 2000, prospective home owners are struggling to adjust. U.S. housing prices are up nearly 40% since March 2019, forcing many Americans out of their communities. Mark Strassmann has more.
Jobs report shows strong gains in April
The U.S. economy remains strong despite rising inflation. But not everyone is feeling the economic boom. Carter Evans reports.
Stocks drop after Fed move against inflation
CBS News business analyst Jill Schlesinger joins "CBS Mornings" to discuss the dramatic stock market drop following the Federal Reserve raising interest rates to combat high inflation. She explains investors' reactions and what this means.
The Fed hikes rates the most since 2000. Here's the impact.
Economists expect a sharp increase in borrowing costs. That could impact credit cards, loans and other debt.
Stocks plummet after interest rate hike
The Dow, Nasdaq and S&P plummeted Thursday as investors worry that the Federal Reserve's plan to fight inflation could slow the economy. CBS News business analyst Jill Schlesinger explains the volatility.
Luigi Mangione pleads guilty in federal case, admits shooting Brian Thompson
Luigi Mangione entered a guilty plea in his federal case at a court appearance in Manhattan Friday morning.
USS Washington aircraft carrier heads to Middle East to replace USS Lincoln
The USS George Washington aircraft carrier departed Vietnam last week and is headed to the Middle East to replace the USS Abraham Lincoln, according to a U.S. official.
Live
UAE accuses Iran of Hormuz attacks as Vance says cheap gas is "goal number one"
The UAE accuses Iran of attacking two vessels in the Strait of Hormuz as Vance says cheap oil and gas is "goal number one" from the war.
Violent crime plummeted in U.S. last year, White House official says
The White House is touting a historic drop in violent crime as the FBI prepares to release the latest data from its annual Uniform Crime Reporting Program.
Trump asks Supreme Court to intervene in White House ballroom legal fight
The Trump administration asked the Supreme Court to intervene in the legal battle over President Trump's White House ballroom.
Hawaii under a hurricane warning as Tropical Storm Lala takes aim
Tropical Storm Lala could bring heavy rain, high winds and dangerous surf and rip currents to the Hawaiian Islands as a hurricane this weekend, forecasters say.
Feds charge woman for allegedly vandalizing World War II Memorial in D.C.
The top federal prosecutor in Washington, D.C., said a woman has been arrested and faces two felony charges related to vandalism of the World War II Memorial.
American missionary kidnapped in Niger in October is freed, his group says
An American missionary who was kidnapped in Niger in October has been released, his organization says, adding that Kevin Rideout "is in good health in the care of U.S. officials."
Paintings worth $10 million that were stolen in 3-minute heist are recovered
The recovered works are valued at more than $10 million.
U.S.
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Book excerpt: Modesty on the line in "The Summer of Death"
Geoff Williams' account of the deadly heat wave of 1936 includes one Kentucky city's efforts to arrest young women whose warm-weather attire was considered too revealing.
Luigi Mangione pleads guilty in federal case, admits shooting Brian Thompson
Luigi Mangione entered a guilty plea in his federal case at a court appearance in Manhattan Friday morning.
Feds charge woman for allegedly vandalizing World War II Memorial in D.C.
The top federal prosecutor in Washington, D.C., said a woman has been arrested and faces two felony charges related to vandalism of the World War II Memorial.
Indiana river breaks 1913 flooding record as governor declares state of emergency
The White River in Indiana rose to record-breaking levels as more than 11 inches of rain has fallen east of Indianapolis since Tuesday.
See how much renters pay for a 2-bedroom home in 50 U.S. cities
Nearly half of renters spend more than 30% of their income on housing. Here's what it costs to rent a two-bedroom home in 50 U.S. cities.
MoneyWatch
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See how much renters pay for a 2-bedroom home in 50 U.S. cities
Nearly half of renters spend more than 30% of their income on housing. Here's what it costs to rent a two-bedroom home in 50 U.S. cities.
AI is driving up consumer prices. That won't stop anytime soon.
Surging AI investment is pushing up the cost of smartphones and other gadgets, according to analysts. Here's why.
Record-breaking heat takes mounting toll on the U.S. economy
Heat waves are dealing a financial blow to businesses and creating hazardous conditions for workers, according to climate experts.
Can taking weight-loss drugs help you get hired? Yes, if you're a woman.
Going on GLP-1 drugs significantly boosted unemployed women's chances of finding a job, according to a Harvard economist.
Reese's Halloween pumpkins hit shelves unchanged after lawsuit victory
Hershey said the Halloween-shaped candy, which had sparked a lawsuit over the product's lack of detail, will return in its familiar oval shape.
Politics
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Feds charge woman for allegedly vandalizing World War II Memorial in D.C.
The top federal prosecutor in Washington, D.C., said a woman has been arrested and faces two felony charges related to vandalism of the World War II Memorial.
Trump asks Supreme Court to intervene in White House ballroom legal fight
The Trump administration asked the Supreme Court to intervene in the legal battle over President Trump's White House ballroom.
USS Washington aircraft carrier heads to Middle East to replace USS Lincoln
The USS George Washington aircraft carrier departed Vietnam last week and is headed to the Middle East to replace the USS Abraham Lincoln, according to a U.S. official.
Live
UAE accuses Iran of Hormuz attacks as Vance says cheap gas is "goal number one"
The United Arab Emirates blamed Iran for attacks on two vessels linked to its state-owned oil company as they passed through the Strait of Hormuz.
Kennedy Center board votes to restore Trump's name on building
The Kennedy Center's board of trustees voted to add President Trump's name to the facade of the performing arts center, more than two months after a judge ordered its removal, according to a Democrat who sits on the center's board.
HealthWatch
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My husband was kicked out of hospice. Here's what I learned.
Some seriously ill patients improve on hospice. About 1 in 16 patients enrolled in hospice care lose eligibility as a result. Here's how to get appropriate care.
Texas steps into surrogate fight with parents
California parents wanted to end a surrogate pregnancy when doctors diagnosed the baby with a severe heart defect at 20 weeks. The surrogate refused and went to Texas, where the state has now stepped in. The baby was born on Wednesday. Jason Allen reports.
Whole Foods recalls some jalapeño products over salmonella risk
Certain salsas, guacamole, pico de gallo and prepared jalapeño products at Whole Foods are among the products recalled over possible salmonella risk.
Maps and charts show record number of measles cases in U.S. this year
CBS News has been tracking a record number of measles cases and outbreaks around the country. The majority of cases are among those who haven't been vaccinated.
Norah O'Donnell: I take testosterone. Here's why.
Norah O'Donnell sat down with her own doctor, Rachel Rubin, to tackle the important topic of menopause: How your body changes, why women may be needlessly suffering, and what you can actually do about it.
World
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French teen social media ban struck down by top constitutional authority
France's social media ban, which was due to take effect on Sept. 1, would have barred younger users from networks such as TikTok, Snapchat and Instagram.
Count Binface wins hearts, if not the election, in bid to defeat Trump ally
Count Binface, a satirical candidate who's become a mainstay in recent U.K. elections, achieved his greatest success yet.
Paintings worth $10 million that were stolen in 3-minute heist are recovered
The recovered works are valued at more than $10 million.
Dad of USS Lincoln sailor worries about crew as deployment stretches on
The USS Abraham Lincoln has been at sea for nine months, and sailors have maintained a grueling pace amid the war in Iran.
USS Washington aircraft carrier heads to Middle East to replace USS Lincoln
The USS George Washington aircraft carrier departed Vietnam last week and is headed to the Middle East to replace the USS Abraham Lincoln, according to a U.S. official.
Entertainment
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Entertainment
"Paw Patrol" cast previews movie
Natalie Morales speaks to some of the stars behind the new film, "Paw Patrol: The Dino Movie." They explain what they love about the franchise and what they hope the audience takes away from the movie.
Becky G gives behind-the-scenes look
"CBS Mornings" co-host Gayle King went inside a rehearsal with singer Becky G as she gives fans a sneak peek at a new single before her upcoming album's release.
Recipe: Amish Peanut Butter Pie
Lovina Hershberger Zook, who left the Amish faith, today shares recipes of the Amish with her more than six million followers on social media.
"CBS Sunday Morning" launches new series of live events at the 92nd Street Y in NYC, debuting with Sylvester Stallone
America's #1 Sunday morning news program announces a new collaboration beginning Sept. 28 to bring conversations with the biggest newsmakers in the arts, politics and culture to the stage, and streamed online.
Exclusive
Becky G reflects on advocacy in new music, rise to fame
Becky G spoke exclusively with "CBS Mornings" co-host Gayle King about her rise to fame, being the breadwinner of the family at a young age and her new music.
Technology
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French teen social media ban struck down by top constitutional authority
France's social media ban, which was due to take effect on Sept. 1, would have barred younger users from networks such as TikTok, Snapchat and Instagram.
Using AI in your romantic relationships
AI is making its way into people's love lives - some say it has helped to improve their conversations while others have used it to end a relationship. Dr. Sue Varma discusses how to use AI properly, set boundaries and identify warning signs of becoming too emotionally dependent.
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.
Flock CEO on misuse concerns
Flock CEO Garrett Langley sat down with CBS News' Anna Schecter and discussed allegations of the technology's misuse by law enforcement.
Schools curb technology use in classroom
As students across the country head back to the classroom, some schools, educators and parents are rethinking how much they utilize technology and screen time. Nicole Valdes has more.
Science
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Science
Views of the total solar eclipse in Europe
A total solar eclipse was visible in parts of Europe for the first time since 1912. Rob Marciano reports.
Europe sees total solar eclipse
A total solar eclipse turned day into night across a slice of Europe and North America on Wednesday, and put millions in unique contact with the heavens above. Meteorologist Rob Marciano reports from Spain.
Astronomy professor on how eclipses work
Janna Levin, professor of physics and astronomy at Barnard College, joins CBS News to discuss Wednesday's total solar eclipse.
How a total solar eclipse stopped a war
Columbia University astronomy professor Dr. Janna Levin joins CBS News to discuss Wednesday's total solar eclipse, saying it's a reminder that humans share this Earth together and "we're all part of something larger."
New space object called "black hole star" discovered by astronomers
The newly discovered object looks like a star the size of our solar system, but produces 100 billion times more energy than any star.
Crime
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Crime
Luigi Mangione's lawyer reacts after hearing
Karen Friedman Agnifilo, Luigi Mangione's attorney, spoke to reporters outside a New York City federal court, where he told a judge that he plans to plead guilty in his federal case. CBS News' Tom Hanson and Katrina Kaufman report.
Luigi Mangione says he will plead guilty
Luigi Mangione, who faces federal and state trials in New York for the deadly 2024 shooting of UnitedHealthcare CEO Brian Thompson, told a judge Friday he plans to plead guilty in his federal case. Tony Dokoupil anchored this CBS News special report.
Luigi Mangione pleads guilty in federal case, admits shooting Brian Thompson
Luigi Mangione entered a guilty plea in his federal case at a court appearance in Manhattan Friday morning.
Violent crime plummeted in U.S. last year, White House official says
The White House is touting a historic drop in violent crime as the FBI prepares to release the latest data from its annual Uniform Crime Reporting Program.
Paintings worth $10 million that were stolen in 3-minute heist are recovered
The recovered works are valued at more than $10 million.
Space
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New space object called "black hole star" discovered by astronomers
The newly discovered object looks like a star the size of our solar system, but produces 100 billion times more energy than any star.
Stunning photos show total solar eclipse over Europe
The only total solar eclipse of 2026 crossed the Northern Hemisphere Wednesday, with a path of totality across parts of Greenland, Iceland and northern Spain. See photos and video from the best viewing locations.
Perseid meteor shower reaches peak viewing on Wednesday night
The Perseid meteor shower is the best viewing all year, according to NASA.
Most detailed images taken of sun's surface revealed
Researchers were able to peek at the sun's scorching surface with the help of the National Science Foundation's Daniel K. Inouye Solar Telescope, located on the island of Maui in Hawaii.
SpaceX rocket booster slams into moon, creating crater that could be 16 feet deep
The impact wasn't visible to the naked eye, but photos are expected to come from a lunar satellite at a later time.
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.
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.
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.
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.
Timeline: The disappearance of George Smith
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Latest CBS News Videos
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Latest CBS News Videos
Luigi Mangione's lawyer reacts after hearing
Karen Friedman Agnifilo, Luigi Mangione's attorney, spoke to reporters outside a New York City federal court, where he told a judge that he plans to plead guilty in his federal case. CBS News' Tom Hanson and Katrina Kaufman report.
Little progress on Strait of Hormuz
Iran and the U.S. are sending out contrasting messages about the future of the Strait of Hormuz. Mona Yacoubian of the Middle East Program at the Center for Strategic and International Studies weighs in.
Eddie Vedder helps kids with rare disease
Pearl Jam's Eddie Vedder is pushing to help kids with Epidermolysis Bullosa, a condition where children suffer from fragile, painful "butterfly" skin. Dr. Céline Gounder shares more about rare childhood diseases and research efforts.
Illinois town buzzes over Powerball ticket
Excitement has reached a fever pitch in Quincy, the Illinois town where the winning billion-dollar Powerball jackpot ticket was sold. CBS News' Lana Zak checked out the convenience store that sold the lucky ticket.
Poland reveals alleged Russian plot to kill
Prime Minister Donald Tusk says Polish authorities foiled Russia's attempt to assassinate a Ukrainian-American dual citizen. CBS News' Ramy Inocencio explains what we know.