Fed discussed how bad it would get
With COVID-19 wreaking havoc on the U.S. economy a year ago, Jerome Powell and his advisors at the Fed considered the possibility of a Great Depression scenario.
Federal Reserve
Jerome Powell: Full 2021 60 Minutes interview transcript
The complete text of Scott Pelley's interview with the Federal Reserve chairman.
Fed Chair Jerome Powell on Archegos collapse
In a conversation with Scott Pelley about the economic outlook, Powell also commented on the fallout from the Archegos Capital collapse, last year's bailout of money market funds, and the potential development of a U.S. digital dollar.
Jerome Powell: The 2021 60 Minutes Interview
Federal Reserve Chairman Jerome Powell gives his thoughts on how the economy is rebounding from the COVID-19 pandemic. Scott Pelley reports.
The Federal Reserve raises short-term interest rates, California unveils a proposal to regulate self-driving cars and more
The Federal Reserve raises short-term interest rates, California unveils a proposal to regulate self-driving cars and more. CBS News MoneyWatch's Jill Wagner has today's CBSN business headlines.
A milestone was reached Wednesday in the recovery from the Great Recession -- the Federal Reserve raised a key interest rate a quarter of a percent
A milestone was reached Wednesday in the recovery from the Great Recession -- the Federal Reserve raised a key interest rate a quarter of a percent. It was the first raise since 2006. Anthony Mason has more.
For the first time since 2006, the Federal Reserve has raised interest rates by a quarter of a percent
For the first time since 2006, the Federal Reserve has raised interest rates by a quarter of a percent. Absolute Capital Return's Senior Editor Hilary Kramer and Belpointe Asset Management's chief strategist David Nelson broke down what this would mean for the market and for lenders.
The central bank projects a series of increases over the next three years to over three percent in 2018
Global financial markets are bracing for the first Federal Reserve rate hike in nearly a decade. The Fed is expected to lift short-term interest rates to a range of between 0.25 and 0.5 percent. The central bank projects a series of increases over the next three years to over three percent in 2018. CBS News business analyst Jill Schlesinger joins "CBS This Morning" to discuss its impact on the economy.
The Federal Reserve is expected to raise interest rates by a quarter point, the first rate raise in more than nine years
The Federal Reserve is expected to raise interest rates by a quarter point, the first rate raise in more than nine years. CBS News business analyst Jill Schlesinger has details.
Fed chair says economy set to make turnaround
Powell spoke with Scott Pelley Wednesday for a report airing tonight on 60 Minutes.
Fed Chair Jerome Powell says economy set to make turnaround
Powell spoke with Scott Pelley Wednesday for a report airing tonight on 60 Minutes.
Investors await a meeting of the Federal Reserve, gas prices drop, a rare disease threatens the world's banana crop and more
Investors await a meeting of the Federal Reserve, gas prices drop, a rare disease threatens the world's banana crop and more. CBS News Moneywatch's Jill Wagner has today's CBSN business headlines.
Jerome Powell: Vaccination key to global economic recovery
Powell called global vaccination efforts "not only the right thing to do, it's also the smart thing to do."
Top business news from the New York Stock Exchange, including Walmart's hiring spree, and the Fed's interest rate decision
CBS News MoneyWatch's Jill Wagner has the top business news from the New York Stock Exchange, including Walmart's hiring spree, the Fed's interest rate decision, and the Obama administration's new trade regulations.
Stocks plunged as investors wait to see if the Federal Reserve will raise interest rates later this month
Stocks plunged as investors wait to see if the Federal Reserve will raise interest rates later this month. Also, Toyota is joining forces with Stanford University and MIT to try to phase out human drivers. Hena Daniels reports on the day's top MoneyWatch headlines.
The Dow saw its worst week since 2011 amid worries about China, cheap oil and slowing U.S. economic growth
The Dow saw its worst week since 2011 amid worries about China, cheap oil and slowing U.S. economic growth.
The Federal Reserve will raise interest rates, Netflix adds subscribers, Obama pushes for high-speed Internet in low-income areas and more
CBS News' Jill Wagner has today's CBSN business headlines: The Federal Reserve will raise interest rates, Netflix adds subscribers, Obama pushes for high-speed Internet in low-income areas and more.
Outstanding student loans topped $1.2 trillion as of the end of 2014
Outstanding student loans topped $1.2 trillion as of the end of 2014. According to the Federal Reserve Bank of New York, they now represent the fastest-growing category of all consumer debt. How did we get here? Jill Schlesinger reports.
The Federal Reserve looks set to end the massive bond purchases it has used to shore up the U.S. economy since the 2008 financial crisis
The Federal Reserve looks set to end the massive bond purchases it has used to shore up the U.S. economy since the 2008 financial crisis. CBS MoneyWatch contributor Anthony Mirhaydari analyzes what impact withdrawing that stimulus could have on investors and the broader economy.
Jill Wagner reports on the day's top MoneyWatch headlines
After yeats of being produced in China, Lincoln Logs are moving their manufacturing back to the United States. Plus, the Federal Reserve plans to keep interest rates at current levels. Jill Wagner reports on the day's top MoneyWatch headlines.
Investors should expect a bumpy ride amid signs that the Federal Reserve may have to alter its time-table for starting to raise interest rates
Investors should expect a bumpy ride amid signs that the Federal Reserve may have to alter its time-table for starting to raise interest rates, says CBS MoneyWatch contributor Anthony Mirhaydari.
Signs of inflation and an improving labor market are expected to hasten when the Federal Reserve starts raising interest rates
Signs of inflation and an improving labor market are expected to hasten when the Federal Reserve starts raising interest rates, explains CBS MoneyWatch contributor Anthony Mirhaydari.
In a policy meeting yesterday, Federal Reserve Chair Janet Yellen said the unemployment rate would drop to 6 percent, which prompted a rally in the markets
In a policy meeting yesterday, Federal Reserve Chair Janet Yellen said the unemployment rate would drop to 6 percent, which prompted a rally in the markets. Also, Amazon unveils its new smartphone; Jill Wagner reports on the day's top financial stories.
Federal Reserve Chair Janet Yellen will discuss the state of America's economy later today, as GM is grilled by Congress about sweeping vehicle recalls
Federal Reserve Chair Janet Yellen will discuss the state of America's economy later today, as GM is grilled by Congress about sweeping vehicle recalls. Jill Wagner has the top financial stories.
European banking authorities plan to cut lending rates and take other action to bolster the region's sagging economy. But is it enough to kick-start growth? CBS MoneyWatch contributor Anthony Mirhaydari explains
European banking authorities plan to cut lending rates and take other action to bolster the region's sagging economy. But is it enough to kick-start growth? CBS MoneyWatch contributor Anthony Mirhaydari explains.
Live
Over 100 wounded in strikes on Israel; Trump threatens to "obliterate" Iran's power plants
President Trump on Saturday night threatened to "obliterate" Iran's power plants, starting with its largest one, if the Strait of Hormuz is not reopened within 48 hours.
Robert Mueller, former FBI director and special counsel, dies at 81
Robert Mueller served as FBI director from 2001 to 2013 and led the investigation into allegations of Russian meddling in the 2016 presidential election.
Trump threatens to use ICE for airport security amid worsening delays
Wait times aren't expected to improve until government funding is restored and TSA officers receive paychecks.
Iranian strikes on towns near Israel's main nuclear research center injure over 100
Iran struck two communities near Israel's main nuclear research center late Saturday, leaving at least 90 people wounded in the southern part of the country.
Cuba suffers second nationwide power outage in less than a week
Humanitarian organizations began delivering aid to Cuba by air Friday, including solar panels, food and medicine.
Senate blocks voting bill's amendment on trans athletes during weekend session
Democrats are expected to eventually block the broader legislation.
More than 230 rescued amid severe floods in Hawaii; more rain expected
Raging waters lifted homes and cars and prompted evacuation orders for 5,500 people north of Honolulu, though they were later lifted.
BTS kicks off global tour with South Korea concert
Local reports estimate that roughly 40,000 people gathered across central Seoul to watch K-pop band BTS reunite.
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.
U.S.
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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.
Couple on unusual activity at neighbor's home: "I think they finally killed him"
When Gary Herbst, described by his Minnesota neighbors as confrontational, disappeared on July 8, 2013, it appeared he walked out on his wife and teenage son. Years later, a startling discovery would confirm what neighbors thought they might have witnessed.
Senate blocks voting bill's amendment on trans athletes during weekend session
Democrats are expected to eventually block the broader legislation.
Robert Mueller, former FBI director and special counsel, dies at 81
Robert Mueller served as FBI director from 2001 to 2013 and led the investigation into allegations of Russian meddling in the 2016 presidential election.
The West's historic snow drought could bring water shortages, wildfires
The western United States experienced a severe snow drought this year, threatening the region's water supply and potentially setting the stage for its wildfire season.
MoneyWatch
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Jury finds Elon Musk liable for misleading investors during Twitter purchase
A jury has found Elon Musk liable for misleading investors by deliberately driving down Twitter's stock price in the tumultuous months leading up to his 2022 acquisition of the social media company.
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.
Politics
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Senate blocks voting bill's amendment on trans athletes during weekend session
Democrats are expected to eventually block the broader legislation.
Robert Mueller, former FBI director and special counsel, dies at 81
Robert Mueller served as FBI director from 2001 to 2013 and led the investigation into allegations of Russian meddling in the 2016 presidential election.
Trump threatens to use ICE for airport security amid worsening delays
Wait times aren't expected to improve until government funding is restored and TSA officers receive paychecks.
Exclusive
Trump is strategizing means to seize Iran's nuclear stockpiles, sources say
The Trump administration has been strategizing methods and options to secure or extract Iran's nuclear materials, according to multiple sources, as the military campaign against Tehran enters a more uncertain phase.
Colombian President Petro caught up in narcotics trafficking probes, sources say
The separate narco-trafficking investigations, based out of New York's Southern and Eastern districts, didn't set out to target Petro, but his name has come up during the course of the probes, one source said.
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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Iranian strikes on towns near Israel's main nuclear research center injure over 100
Iran struck two communities near Israel's main nuclear research center late Saturday, leaving at least 90 people wounded in the southern part of the country.
Cuba suffers second nationwide power outage in less than a week
Humanitarian organizations began delivering aid to Cuba by air Friday, including solar panels, food and medicine.
2 skiers killed, 5 hurt in northern Italy avalanche
A total of 25 skiers were on the mountainside where the avalanche occurred, but most had escaped.
BTS kicks off global tour with South Korea concert
Local reports estimate that roughly 40,000 people gathered across central Seoul to watch K-pop band BTS reunite.
Exclusive
Trump is strategizing means to seize Iran's nuclear stockpiles, sources say
The Trump administration has been strategizing methods and options to secure or extract Iran's nuclear materials, according to multiple sources, as the military campaign against Tehran enters a more uncertain phase.
Entertainment
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Entertainment
Sneak preview of Propstore's latest auction
"CBS Saturday Morning" gets a sneak peek of Propstore's offerings for next week's live auction of more than 1,000 items from some of Hollywood's most iconic films.
Breaking down how Spotify pays musicians
Streaming platforms changed the way people purchase and listen to music, but they've also changed how artists get paid for their work. "CBS Saturday Morning" visits the Spotify offices to learn about how some artists are earning big bucks on the platform, and how some are still struggling.
BTS kicks off global tour with South Korea concert
Local reports estimate that roughly 40,000 people gathered across central Seoul to watch K-pop band BTS reunite.
Buffalo Traffic Jam performs "Hanging On Hope"
Best friends Frankie Cassidy and Nathan Ross formed Buffalo Traffic Jam as students at Montana State University. Dorm room jam sessions progressed into a sold-out worldwide tour as the duo garnered acclaim for their stripped-down sound and heartfelt lyrics. Here is Buffalo Traffic Jam performing "Hanging On Hope."
Buffalo Traffic Jam performs "Forgot Your Roots"
Best friends Frankie Cassidy and Nathan Ross formed Buffalo Traffic Jam as students at Montana State University. Dorm room jam sessions progressed into a sold-out worldwide tour as the duo garnered acclaim for their stripped-down sound and heartfelt lyrics. Here is Buffalo Traffic Jam performing "Forgot Your Roots."
Technology
More Technology
Jury finds Elon Musk liable for misleading investors during Twitter purchase
A jury has found Elon Musk liable for misleading investors by deliberately driving down Twitter's stock price in the tumultuous months leading up to his 2022 acquisition of the social media company.
White House unveils AI framework for Congress
The White House unveiled a national framework for how it wants Congress to address concerns about artificial intelligence. Technology journalist Jacob Ward joins CBS News to discuss the outline and AI concerns.
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.
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.
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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Couple on unusual activity at neighbor's home: "I think they finally killed him"
When Gary Herbst, described by his Minnesota neighbors as confrontational, disappeared on July 8, 2013, it appeared he walked out on his wife and teenage son. Years later, a startling discovery would confirm what neighbors thought they might have witnessed.
Wife of Joseph Duggar charged with child endangerment after his arrest
Kendra Duggar was charged with multiple misdemeanors a day after husband Joseph Duggar's arrest.
5 more defendants plead guilty in Feeding Our Future fraud scheme
Five people who were charged in connection to the Feeding Our Future scheme pleaded guilty to wire fraud this week.
See police bodycam video of Justin Timberlake's DWI arrest on Long Island
Bodycam video footage of Justin Timberlake's June 2024 DWI arrest on Long Island was released to the media Friday.
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.
Space
More Space
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 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.
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
More Latest CBS News Videos
Latest CBS News Videos
What the Neighbors Saw
Late at night a couple watches as a rolled-up carpet is carted out of a nearby home. Soon after they learn the combative neighbor who lived there is missing. "48 Hours" correspondent Peter Van Sant reports.
Hawaii flooding: Video from the ground and air
Heavy rains have hit Hawaii, causing major flooding on its most populous island, Oahu, and forcing thousands to evacuate.
The Dish: Danny's
Dan Abrams' newest venture Danny's offers patrons a quintessential New York City dining experience. The menu by executive chef Ed Tinoco spotlights fun twists on American classics.
Sneak preview of Propstore's latest auction
"CBS Saturday Morning" gets a sneak peek of Propstore's offerings for next week's live auction of more than 1,000 items from some of Hollywood's most iconic films.
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.