Powell warns Congress that inflation may keep rising next year
He tells Senate panel that the new COVID-19 variant could have an impact on economic activity and inflation.
Federal Reserve
Biden nominates Powell to remain as Fed chair
President Biden nominated Federal Reserve Chair Jerome Powell to a second term. Plus, Democrats hope to boost their midterms chances with legislative successes. CBS News senior white house and political correspondent Ed O'Keefe, Washington Post deputy Washington editor Natalie Jennings and Politico national political correspondent David Siders join CBSN's "Red & Blue" anchor Elaine Quijano with the latest.
Poll: Inflation hurting Biden job approval
A CBS News poll shows just 33% of Americans approve of President Biden's handling of inflation, with only 44% approving of the job he is doing overall. As CBS News' Skyler Henry reports, Mr. Biden is hoping to build economic stability by reappointing Jerome Powell for another term as Federal Reserve chairman. Alex Gangitano, a White House correspondent for The Hill, joins CBSN's Elaine Quijano to discuss how the economy could shape the future of Biden's presidency.
The impact of Biden's agenda on inflation
Some economists say fears about the impact president Biden's economic agenda could have on inflation are overblown. CBS News MoneyWatch reporter Aimee Picchi joins CBSN to discuss more.
Biden looks to tackle supply chain backlog
President Biden visited the Port of Baltimore to explain how his infrastructure plan can fix supply chain issues. Weijia Jiang has more.
Biden's agenda is more popular than he is
Surveys show President Biden's infrastructure, social and climate spending plans are more popular than the president himself. Plus, the White House addresses inflation head-on. Washington Examiner political and investigative reporter Sarah Westwood and Wall Street Journal White House reporter Catherine Lucey join CBSN's "Red & Blue" anchor Elaine Quijano with more.
U.S. inflation hits 30-year high
Last month, prices increased at the fastest pace in more than 30 years as companies struggle with supply chain issues and a labor shortage. Americans are now paying more for homes, food, fuel, medical care and many other goods and services. Anna Werner takes a look.
Fed to keep interest rates near zero
Last week, the Federal Reserve voted to keep interest rates near zero as inflation rises to the highest point in 30 years. The central bank will also dwindle its buying of billions of dollars a stocks a month, which began during the pandemic. Senior vice president and director of research for the committee of economic development Joe Menarik joins Lana Zak on CBSN to discuss.
Why inflation may no longer be considered "transitory"
The Federal Reserve describes higher inflation as fleeting, but economists expect it to stick around into 2022.
Fed to start removing support for economy as inflation surges
The central bank said it will start reducing its $120 billion in monthly bond purchases in the coming weeks.
Federal Reserve cracks down on how its officials invest
New restrictions follows resignation of two Fed bank presidents amid ethics questions over their stock market trades.
6/16/20: Red and Blue
Senate holds hearing on police reforms; Virginia Rep. Riggleman loses Republican primary.
U.S. workers on life after COVID layoffs
The Federal Reserve Bank of St. Louis estimates that about 47 million workers could lose their jobs as companies affected by the coronavirus cut staff. Tony Dokoupil speaks to American workers who have been cut from their jobs, many who say they are not surprised by their job loss but still need to find a way to pay their bills.
San Francisco Fed president on Delta variant vs. economy
San Francisco Federal Reserve Bank president Mary Daly said the U.S. is still seeing in the economy "the pain of COVID, and the pain of the Delta variant impact the labor market."
10/30/19: CBSN Evening News
Powerful winds fuel devastating wildfires; Green Beret awarded Presidential Medal of Honor.
9/18/19: Red and Blue
Trump announces increased sanctions on Iran; Going inside the Washington Monument.
7/31/19: CBSN Evening News
Progressives and moderates face off in Detroit; Family of John Dillinger to exhume his body.
Congress nears short-term deal on debt limit
Senate Minority Leader Mitch McConnell offered a concession to Democrats, saying Republicans would let them raise the debt ceiling. Nancy Cordes has the latest.
U.S. at risk of reaching debt limit
Lawmakers remain deadlocked over raising the debt ceiling, but default could affect millions of Americans and the global economy. Brian Cheung, who reports on Federal Reserve, economics and banking for Yahoo Finance, joins CBSN AM to discuss what could happen if legislation isn't passed.
Dallas Fed chief to step down following trading disclosure
The heads of two regional Fed banks are resigning after watchdogs raised questions about their stock trading.
Fed ready to start reeling in stimulus as U.S. economy heals
Economic recovery remains on course despite surge in COVID-19 cases, according to U.S. central bank.
Stocks plummet over Chinese real estate woes
Wall Street had its worst day since May amid fears that a Chinese real estate company could default, and that the Federal Reserve could begin ending stimulus measures it enacted during the pandemic.
Progressives call on Biden to replace Powell as Federal Reserve chair
They say he hasn't done enough to address the effects of climate change on the financial system and has weakened regulations.
Powell: Fed on track to slow aid for economy later this year
Federal Reserve chair downplays inflation and COVID-19 risks, saying the U.S. economic recovery remains on track.
July inflation index beats economists' projections
The markets are reacting positively to data from the Labor Department. It shows a slightly slower year-over-year inflation rate than economists had feared. Overall, prices are up 5.4% compared to July of last year. CBS News reporter Sarah Ewall-Wice has more on what the July Consumer Price Index means for the state of the U.S. economy.
Trump unveils new Air Force One, a $400 million plane gifted by Qatar
"This is considered the world's most luxurious plane," the president said in front of the enormous new jet.
Investigation
What's missing from the Epstein files? Here's what we found
The Justice Department says it's released "every document required by the Epstein Files Transparency Act," but CBS News has identified numerous gaps.
DOJ rebuffs judge's demand to state "anti-weaponization" fund is dead
A senior Justice Department official called a judge's demand for a declaration on the status of the "anti-weaponization" fund "unnecessary."
Live
Israel and Hezbollah agree to ceasefire, officials say
Israel and Hezbollah have reached a Lebanon ceasefire agreement after their fighting delayed progression of the U.S.-Iran deal, a diplomat tells CBS News.
Judge won't block DOJ from releasing Biden conversations with biographer
U.S. District Judge Dabney Friedrich cleared the way for the Justice Department to disclose former President Joe Biden's recorded conversations with his biographer to the Heritage Foundation.
1 dead after trains collide in England, British Transport Police says
A number of people were also injured after two trains collided north of London on Friday, British Transport Police and a United Kingdom official said.
James Burrows, co-creator of "Cheers" and prolific director, dies at 85
James Burrows directed more than 1,000 episodes of television, including every episode of the original "Will & Grace."
Italy nixes envoy's visit as leader Meloni "stunned" by Trump's remarks
Italian outlet says after a meeting at the G7 summit, Trump said Meloni had "begged me to take a picture with her," and he "felt sorry for her."
How the Iran war united, and then divided Trump and Netanyahu
Trump has appeared during the Iran war to lose patience with Israeli Prime Minister Benjamin Netanyahu, who may now find himself "stuck."
U.S.
More U.S.
Judge won't block DOJ from releasing Biden conversations with biographer
U.S. District Judge Dabney Friedrich cleared the way for the Justice Department to disclose former President Joe Biden's recorded conversations with his biographer to the Heritage Foundation.
George W. Bush gifts Michelle Obama mints in an ode to their friendship
The Altoids were a callback to a viral moment between former first lady Michelle Obama and former President George W. Bush.
James Burrows, co-creator of "Cheers" and prolific director, dies at 85
James Burrows directed more than 1,000 episodes of television, including every episode of the original "Will & Grace."
Trump unveils new Air Force One, a $400 million plane gifted by Qatar
"This is considered the world's most luxurious plane," the president said in front of the enormous new jet.
DOJ rebuffs judge's demand to state "anti-weaponization" fund is dead
A senior Justice Department official called a judge's demand for a declaration on the status of the "anti-weaponization" fund "unnecessary."
MoneyWatch
More MoneyWatch
Here's who qualifies for the Trump adminstration's student loan rate cut
The temporary discount applies to eligible federal Direct Loan borrowers who use automatic payments.
Prediction markets are betting on celebrities to boost their brands
Kalshi has enlisted Lionel Messi and Timothée Chalamet as prediction markets compete to attract new users and cement their place in the mainstream.
A father of 3 wanted to leave wealth to his kids. He turned to a coffee can.
Matthew Ankrum wanted to build wealth for his daughters and teach them about financial stability. A new book shares how.
What's open and closed for Juneteenth 2026?
Juneteenth will affect banking, mail service and financial markets, although retailers and restaurants are largely staying open.
Less than half of Americans can afford quality healthcare, Gallup finds
Gallup found that only 49% of Americans were "cost-secure" last year, with concerns about medical bills and prescription costs rising across income groups.
Politics
More Politics
Judge won't block DOJ from releasing Biden conversations with biographer
U.S. District Judge Dabney Friedrich cleared the way for the Justice Department to disclose former President Joe Biden's recorded conversations with his biographer to the Heritage Foundation.
George W. Bush gifts Michelle Obama mints in an ode to their friendship
The Altoids were a callback to a viral moment between former first lady Michelle Obama and former President George W. Bush.
Trump unveils new Air Force One, a $400 million plane gifted by Qatar
"This is considered the world's most luxurious plane," the president said in front of the enormous new jet.
DOJ rebuffs judge's demand to state "anti-weaponization" fund is dead
A senior Justice Department official called a judge's demand for a declaration on the status of the "anti-weaponization" fund "unnecessary."
How the Iran war united, and then divided Trump and Netanyahu
Trump has appeared during the Iran war to lose patience with Israeli Prime Minister Benjamin Netanyahu, who may now find himself "stuck."
HealthWatch
More HealthWatch
Air Force unit faces flu outbreak weeks after vaccine mandate dropped
Dozens of service members at Lackland Air Force Base in Texas have fallen ill with the flu in the weeks since Defense Secretary Pete Hegseth rescinded the vaccine mandate, sources familiar confirmed to CBS News.
Less than half of Americans can afford quality healthcare, Gallup finds
Gallup found that only 49% of Americans were "cost-secure" last year, with concerns about medical bills and prescription costs rising across income groups.
Busy Philipps on her late ADHD diagnosis
Actress Busy Philipps, 45, spoke up about her late attention-deficit/hyperactivity disorder diagnosis online after realizing she shared symptoms as her young daughter was evaluated and diagnosed. Women are more likely than men to be diagnosed with ADHD later in life, research shows.
Drummer rediscovers his rhythm after setback
In the "CBS Mornings" series "Pushing the Limits," Mark Strassmann shows how a Georgia man's passion for music was almost taken away from him forever after a terrible accident. But thanks to his resilience and technology, the man is now a record-breaking drummer.
Arrests of immigrant parents create mental health crisis for children
An estimated hundreds of thousands of children, many of them U.S. citizens, have been separated from a parent in the Trump administration's immigration crackdown.
World
More World
1 dead after trains collide in England, British Transport Police says
A number of people were also injured after two trains collided north of London on Friday, British Transport Police and a United Kingdom official said.
Climber trapped on Everest for days says avalanche saved him
Dawa Sherpa was airlifted to Kathmandu, where doctors treated him for frostbite, severe dehydration and a fractured thigh bone.
How the Iran war united, and then divided Trump and Netanyahu
Trump has appeared during the Iran war to lose patience with Israeli Prime Minister Benjamin Netanyahu, who may now find himself "stuck."
U.K. actress accused of trying to smuggle $208M of meth into Australia
Actress Emaa Hussen, who played alongside Jason Statham in "Redemption," is accused of trying to smuggle 700 pounds of methamphetamine into Australia.
Scientists discover parasite that preys on insect-killing "zombie fungus"
Scientists say the "hyperparasite" preys on "zombie fungus" known to infect insects before subjecting them to a gruesome death.
Entertainment
More Entertainment
James Burrows, co-creator of "Cheers" and prolific director, dies at 85
James Burrows directed more than 1,000 episodes of television, including every episode of the original "Will & Grace."
"The War and Treaty" talk new music
Husband and wife duo Michael and Tanya Trotter, known as "The War and Treaty," talk to "CBS Mornings" about their new music, major collaborations, including with Whoopi Goldberg, and how they came up with their band's name.
Tay Keith, Grammy-nominated producer, found dead in Nashville at 29
Record producer Tay Keith was found dead in his Nashville home by officers performing a welfare check, police said.
Americans say they're reading fewer books. Here's what they're doing instead.
Many people are spending more time on screens, but also doing more physical activities, a new CBS News poll finds.
Singer Myles Smith talks debut album
Myles Smith's career skyrocketed after his hit song "Stargazing" became the biggest song by a U.K. artist worldwide in 2024. Now, he's releasing his debut album, "My Mess, My Heart, My Life," on June 19. Myles Smith joins "CBS Mornings" to discuss his rapid rise to stardom, his first album and his experience touring with Ed Sheeran.
Technology
More Technology
Waymo recalls robotaxis after some vehicles entered construction zone
The recall follows multiple incidents in which Waymo robotaxis drove past ramp-closure signs and into freeway construction zones.
Americans on AI's future impact
A Pew survey shows 40% of Americans think AI's future impact will be negative. MIT Sloan professor Eric So joins CBS News with more details.
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.
Where to get the latest CBS Mornings Deals
On this edition of CBS Mornings Deals, we show you items that will help improve your everyday lifestyle. Visit cbsdeals.com to take advantage of these exclusive deals today. CBS earns commissions on purchases made through cbsdeals.com.
Inside an Irish town raising kids without smartphones
When parents and educators in Greystones, Ireland saw children dealing with increasing anxiety, they acted – and took phones out of the equation.
Science
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Science
Watch: Pentagon releases 6 new UFO videos
The Defense Department released a third batch of UFO files on Friday, three weeks after its second drop. These are all of the videos in the latest tranche, plus analysis from astrophysicist Avi Loeb.
Goblin shark seen alive in natural deep-sea habitat for the first time
The goblin shark had only previously been seen when caught by fishermen and they died shortly afterward.
World's largest whale graveyard found by sub at bottom of ocean
The researchers saw many strange animals — many believed to be new to science — living off the whale carcasses.
NASA names 4 astronauts for next Artemis mission
NASA's Artemis III astronauts plan to carry out rendezvous and docking procedures with commercial moon landers being built by SpaceX and Blue Origin.
Great white shark captured on video in Mediterranean in rare sighting
Great white sharks are classified as "critically endangered" in the Mediterranean Sea, and underwater sightings are incredibly rare.
Crime
More Crime
U.K. actress accused of trying to smuggle $208M of meth into Australia
Actress Emaa Hussen, who played alongside Jason Statham in "Redemption," is accused of trying to smuggle 700 pounds of methamphetamine into Australia.
What's missing from the Epstein files?
A CBS News analysis of the released Epstein files shows what documents appear to be absent. CBS News' Vlad Duthiers has more on the search for answers surrounding the case against convicted sex offender Jeffrey Epstein.
Mangione team no longer pursuing this defense
In a stunning reversal, Luigi Mangione's defense team for his New York state trial has announced it will no longer pursue a psychiatric defense. CBS News legal contributor Caroline Polisi joins with more insight.
Mayor accused of faking her kidnapping in embezzlement scheme
Nancy Napoles denied the accusation and said she was willing to cooperate with authorities to clarify what happened.
Man charged in death of girl after life sentence commuted by Kristi Noem
McKenna Wendel was last seen alive on March 14 and her body was found outside Brookings, an hour's drive north of Sioux Falls, on March 19.
Space
More Space
Researchers find "Pink Planet" has salty clouds: "We were very surprised"
The "Pink Planet," formally known as GJ504b, was discovered in 2013 and is technically not a planet but rather a "planetary-mass companion."
NASA chief defends choice of all-male crew for Artemis III mission
NASA's Jared Isaacman says the crew was selected solely based on their experience, expertise and availability for flight assignment.
NASA names 4 astronauts for next Artemis mission
NASA's Artemis III astronauts plan to carry out rendezvous and docking procedures with commercial moon landers being built by SpaceX and Blue Origin.
Space station crew briefly moves to "safe haven" amid concerns over leaks
Out of an abundance of caution, NASA briefly directed five of the seven crew members aboard the International Space Station to wait inside the docked SpaceX Crew Dragon "Freedom" spacecraft.
Sun erupts with 3 solar flares, raising chances of northern lights for U.S.
Three solar flares burst from the sun this week, raising the chances of seeing the northern lights for people across the United States.
Latest Galleries
More Latest Galleries
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.
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.
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.
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
Trump unveils new Air Force One jet from Qatar
President Trump on Friday unveiled the new Air Force One, a $400 million Boeing 747-8 jet, gifted by Qatar.
Details on delay of U.S.-Iran talks
Talks between Iran and the U.S. expected to begin in Switzerland Friday have been postponed. The White House blamed the delay on logistical issues while officials told the Associated Press other outlets that Iran had suspended the talks due to the ongoing fighting in Lebanon. CBS News' Nancy Cordes and Aaron MacLean have more.
Israel and Hezbollah reach ceasefire: What to know
Israel and Hezbollah reached a ceasefire agreement Friday to end their fighting in Lebanon, three diplomats briefed on the matter told CBS News. Meanwhile, Talks between Iran and the U.S. expected to begin in Switzerland Friday were postponed, with the White House blaming logistical issues for the cancellation of JD Vance's trip to Geneva. CBS News' Robert Berger and Natalie Brand have more.
Expert on latest Israel-Hezbollah ceasefire
CBS News contributor Aaron MacLean is reacting to the latest Israel-Hezbollah ceasefire news after tensions rose in Lebanon, likely leading to U.S.-Iran talks being postponed.
Israel-Hezbollah ceasefire now in effect
An Israel-Hezbollah ceasefire is now in effect after tensions rose and impacted the U.S.-Iran talks. CBS News' Imtiaz Tyab and Natalie Brand report.