Yellen: Federal spending could drive a rise in interest rates
The Treasury secretary's remarks come as the president is pushing two proposals totaling $4 trillion.
Federal Reserve
Latest MoneyWatch headlines
Fed to decide interest rates Wednesday, Time Inc. cuts 300 jobs, and tech stocks rebound. These headlines and more from CBS MoneyWatch
Latest MoneyWatch headlines
The Fed begins a two-day meeting to decide interest rates, and tech stocks under pressure as growth concerns rise. These headlines and more from CBS MoneyWatch.
Latest Moneywatch headlines
Fed downplays Q1 weakness; Japan wants smaller Pacific trade pact; and American Airlines plans to cut legroom. These headlines and more from CBS MoneyWatch.
Ben Bernanke interview
Former Federal Reserve chairman Ben Bernanke joins CBSN to discuss the government spending bill and President Trump's challenges with economic growth.
Fed Hikes Interest Rates
The Federal Reserve raised interest rates, which could affect mortgage rates and credit card payments. Yahoo finance markets reporter Myles Udland joins CBSN to discuss.
Interest rate hike
The Federal Reserve has raised its benchmark interest rate from 0.75 percent to 1 percent. Scott Gamm, correspondent for TheStreet TV, joins CBSN to discuss how this will affect the economy.
Fed calls inflation "transitory," holds interest rates steady
Signs of economic growth are stoking fears of price hikes, but Fed policymakers say any inflation will be short-lived.
Interest-rate hike?
In a much anticipated speech Friday at the Central Bank's annual Jackson Hole Summit, Federal Reserve Chair Janet Yellen expressed optimism about the U.S. economy. Most experts expect the Central Bank will raise its historic low interest rate before the end of the year. Financial expert Vera Gibbons, senior consumer analyst with GasBuddy.com, joins "CBS This Morning" to discuss the "ambiguity" of a possible interest-rate hike and factors to watch for, including the upcoming August jobs report.
Fed sees economy grow
A new Federal Reserve survey finds modest economic growth in most parts of the U.S.; Amazon says Prime Day was its biggest sales-volume day ever; and Forbes says Dallas Cowboys are worth $4 billion. These headlines and more from CBS MoneyWatch.
Federal Reserve Chair Janet Yellen testifies before a Senate committee on the state of the U.S. economy; nearly 30 percent of Americans lack any emergency savings; and a consumer index says Chick-fil-A is America's favorite fast-food chain
Federal Reserve Chair Janet Yellen testifies before a Senate committee on the state of the U.S. economy; nearly 30 percent of Americans lack any emergency savings; and a consumer index says Chick-fil-A is America's favorite fast-food chain. These headlines and more from CBS MoneyWatch.
As expected, the Federal Reserve made no change to its policy, but in a shift, the central bank lowered its projections of how much it expects to raise short-term interest rates in the coming years
As expected, the Federal Reserve made no change to its policy, but in a shift, the central bank lowered its projections of how much it expects to raise short-term interest rates in the coming years. That's good news for borrowers but bad for savers, who continue to struggle to earn more with their nest eggs. Jill Schlesinger reports.
Chairman of the Federal Reserve, Whistleblower, The Reckoning
Federal Reserve Chairman Jerome Powell on the coronavirus-ravaged economy; Then, The government whistleblower who says the Trump administration's coronavirus response has cost lives; And, What will be the long-term effects of the coronavirus pandemic?
Bipartisan meeting set on infrastructure plan
President Biden and Vice President Harris are expected to meet with a small group of bipartisan lawmakers Monday at the White House to discuss the $2.3 trillion infrastructure proposal. Republicans have raised concerns over the size and cost of the package, while some Democrats say it needs to be even bigger. CBS News chief White House correspondent Nancy Cordes joins CBSN AM with the latest.
Fed Chair on money market funds
Jerome Powell said money market funds need to be "resilient enough" to handle future liquidity shocks, and without federal assistance.
Fed Chair Jerome Powell: America is going back to work
Federal Reserve Chairman Jerome Powell gives his thoughts on how the economy is rebounding from the COVID-19 pandemic. Scott Pelley reports.
Fed Chair on federal budget
When asked if continued spending on infrastructure and COVID-19 relief could set off inflation, Jerome Powell said he doesn't "see that now" and the economy needs to fully recover before spending levels "return to a sustainable path."
Fed Chair on Archegos collapse
The Chairman of the Federal Reserve said the fallout from the collapse of Archegos Capital, its investments included ViacomCBS, was the result of a "risk management breakdown" and the Fed will take a closer look "to make sure it never happens again."
Fed Chair on U.S. digital dollar
Jerome Powell said a potential U.S. digital dollar is being evaluated by the Federal Reserve, and it would require careful consideration before being introduced. When asked if the rise of cryptocurrencies was a motivation, he said they are not "concerning at this point."
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.
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.
Israel's Netanyahu addresses U.N. as many leaders walk out
Benjamin Netanyahu focused on Iran, and on defending Israel's actions in Gaza and the West Bank amid condemnation from fellow leaders at the U.N.
Journalists regain access to White House after judge blocks Trump's media ban
Reporters whose White House access was revoked were allowed to enter the complex again, hours after a judge ordered the Trump administration to restore their press credentials.
Live
Trump hosting China's Xi at White House with AI and tariffs on the agenda
President Trump is hosting Chinese President Xi Jinping for meetings and a state dinner on Thursday, as the world's two most powerful countries try to extend a tariff truce and grapple with a rivalry on advanced AI.
Iran war powers measure falls short in Senate, despite new GOP support
The Senate rejected a resolution aimed at limiting President Trump's war powers in Iran, though the Democrat-led effort picked up one new GOP supporter.
Live
Oil prices back up as U.S. and Iran trade threats to expand 7-month war
As Iran responds to Trump's threat of annihilation with its own warning of a possible "new front" in the war, global oil prices are rising again.
Officer thwarted Ontario synagogue shooting despite life-threatening injuries
Constable Jeff Smith was shot several times, suffering wounds to his head and torso, but continued fending off the attack until a second officer arrived.
Pentagon probing how shipment of F-35 fighter jet parts was diverted
The U.S. is trying to retrieve the parts, which were reported by Bloomberg News to be in China's possession.
Netanyahu says "shame on you" to Mamdani, claims "Jews no longer feel safe"
Netanyahu's address to the U.N. marks the first time he has visited New York since Mamdani became mayor.
Trump administration urges Supreme Court to revive third-country deportation policy
The Trump administration urged the Supreme Court to revive its policy of deporting some migrants to places other than their country of birth.
U.S.
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GOP Sen. Thom Tillis on Trump-Xi visit: "It's a WTF moment"
The retiring North Carolina senator was critical of President Trump's reception of Chinese President Xi Jinping.
New bill would lower Social Security retirement age for some workers
Workers in physically demanding jobs should be able to collect full Social Security retirement benefits at age 60, a Michigan lawmaker says.
Netanyahu says "shame on you" to Mamdani, claims "Jews no longer feel safe"
Netanyahu's address to the U.N. marks the first time he has visited New York since Mamdani became mayor.
Why the bond market is freaking out, and what it means for your money
Investors are increasingly nervous about rising inflation, which could require the Federal Reserve to hike interest rates.
Iran war powers measure falls short in Senate, despite new GOP support
The Senate rejected a resolution aimed at limiting President Trump's war powers in Iran, though the Democrat-led effort picked up one new GOP supporter.
MoneyWatch
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New bill would lower Social Security retirement age for some workers
Workers in physically demanding jobs should be able to collect full Social Security retirement benefits at age 60, a Michigan lawmaker says.
Why the bond market is freaking out, and what it means for your money
Investors are increasingly nervous about rising inflation, which could require the Federal Reserve to hike interest rates.
Mortgage rates are back above 7%. How much higher could they climb?
Rates are "far more likely to go up than down by the end of the year," a senior economist at Realtor.com told CBS News.
Will an FDA crackdown curb access to cheaper GLP-1 weight-loss drugs?
The FDA has warned a major compounding pharmacy that it violated federal law by making copies of blockbuster weight-loss drugs in "inordinate amounts."
Small businesses roll the dice on Kalshi to manage their risks
Hundreds of small businesses are using the prediction market to hedge against a range of business risks, according to Kalshi. Here's how.
Politics
More Politics
GOP Sen. Thom Tillis on Trump-Xi visit: "It's a WTF moment"
The retiring North Carolina senator was critical of President Trump's reception of Chinese President Xi Jinping.
Pentagon probing how shipment of F-35 fighter jet parts was diverted
The U.S. is trying to retrieve the parts, which were reported by Bloomberg News to be in China's possession.
Trump administration urges Supreme Court to revive third-country deportation policy
The Trump administration urged the Supreme Court to revive its policy of deporting some migrants to places other than their country of birth.
DOJ says it's moving to end more than 50 decades-old school desegregation cases
The Justice Department said Thursday it was seeking to end more than 50 long-standing consent decrees dating back decades that sought to curb unlawful racial segregation that was prevalent during the Jim Crow era.
Netanyahu says "shame on you" to Mamdani, claims "Jews no longer feel safe"
Netanyahu's address to the U.N. marks the first time he has visited New York since Mamdani became mayor.
HealthWatch
More HealthWatch
Will an FDA crackdown curb access to cheaper GLP-1 weight-loss drugs?
The FDA has warned a major compounding pharmacy that it violated federal law by making copies of blockbuster weight-loss drugs in "inordinate amounts."
Bone health and the "silent disease": 4 things women should know
In the latest episode of "Healthful," Dr. Jocelyn Wittstein, an orthopedic surgeon at Duke University School of Medicine, discusses what women should know about protecting their bones.
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.
World
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GOP Sen. Thom Tillis on Trump-Xi visit: "It's a WTF moment"
The retiring North Carolina senator was critical of President Trump's reception of Chinese President Xi Jinping.
Pentagon probing how shipment of F-35 fighter jet parts was diverted
The U.S. is trying to retrieve the parts, which were reported by Bloomberg News to be in China's possession.
Officer thwarted Ontario synagogue shooting despite life-threatening injuries
Constable Jeff Smith was shot several times, suffering wounds to his head and torso, but continued fending off the attack until a second officer arrived.
U.S. troops help Ecuador arrest dozens linked to ruthless cartel
The operation "was conducted jointly with U.S. troops and the Drug Enforcement Administration (DEA)," Ecuador's interior minister said.
U.K. prime minister teases possible return of booze to soccer matches
British leader and soccer fan Andy Burnham told reporters a four-decade ban on alcohol in stadium bleachers at men's games is "discrimination."
Entertainment
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Sylvester Stallone jokes about one of his wildest jobs before fame
Sylvester Stallone said he took a series of odd jobs to make ends meet before the bruised but unbowed Rocky Balboa.
Sylvester Stallone on cleaning lion cages
Sylvester Stallone took on a series of odd jobs to make ends meet before becoming a Hollywood legend. He tells correspondent Tracy Smith about one of his wildest gigs. Watch more of their conversation this weekend on "CBS Sunday Morning."
Kim Kardashian on "Team Moms: Baseball"
Kim Kardashian and the producers of "Love Island" teamed up to create "Team Moms: Baseball," a new reality show exploring the cutthroat world of elite kids' sports. Kim Kardashian and producer Natalie Ento sat down with "Entertainment Tonight" host Nischelle Turner to explain more.
First look at Taylor Swift's "Patient Zero"
"CBS Mornings" shares an exclusive first look at the video for Taylor Swift's new single, "Patient Zero."
Exclusive
Taylor Swift to debut "Patient Zero" music video at VMAs. Watch a preview.
Taylor Swift announced her new single "Patient Zero" earlier this week, saying she has been "impatiently waiting" to announce that it will be out on Friday.
Technology
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Technology
Andreessen Horowitz introduces AI school
The Horowitz Andreessen Academy is offering students a college alternative focused on artificial intelligence. CEO Gagan Biyani joins CBS News to discuss the revolutionary idea.
Rogue AI agent hacks government website
Australia says an OpenAI model hacked a government website containing health information. CBS News' Jo Ling Kent reports.
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.
Will Trump and Xi take on AI during visit?
More details on alarming cases involving rogue AI models are emerging as President Trump meets with Chinese President Xi Jinping in Washington, D.C. Meanwhile, calls for regulation are growing louder. CBS News contributor Patrick McGee joins with more.
OpenAI model hacked Australia healthcare site
Australia's Prime Minister Anthony Albanese is fuming after an OpenAI model hacked a government website in June. CBS News' Ramy Inocencio breaks down the details on the historic attack.
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
More Crime
Officer thwarted Ontario synagogue shooting despite life-threatening injuries
Constable Jeff Smith was shot several times, suffering wounds to his head and torso, but continued fending off the attack until a second officer arrived.
U.S. troops help Ecuador arrest dozens linked to ruthless cartel
The operation "was conducted jointly with U.S. troops and the Drug Enforcement Administration (DEA)," Ecuador's interior minister said.
Police accused of misusing Flock cameras
Concerns are growing over the potential misuse of automated license plate readers. Five police officers in Indianapolis are the latest to face criminal charges for allegedly using Flock cameras to track romantic partners and others.
Accused Nazi POW camp guard, 105, being investigated in Germany
The man is "accused of being an accessory to multiple murders through his activities there," prosecutors said.
Pittsburgh doctor attacked and killed while he slept, wife also stabbed
Dr. Idris Evans, a physician and medical director from UPMC Children's Hospital in Pittsburgh, was killed in an overnight stabbing.
Space
More Space
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
More Latest CBS News Videos
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 hails close friendship with China's Xi
President Trump is facing criticism for his warm treatment of China's Xi Jinping as the two leaders meet at the White House to discuss Iran, AI, and more. CBS News' Katherine Watson has more.
WSJ: Conservative podcasts move away from Trump
Is the MAGA movement moving on? New Wall Street Journal data shows right-wing podcasters want to talk about everything but President Trump. Political strategists Leslie Shedd and Ravi Gupta join "The Takeout" to discuss.
Eliott Rodriguez on challenging Maria Salazar
Florida's 27th Congressional District is currently held by Republican Rep. Maria Elvira Salazar, who made waves last week by releasing an ad saying President Trump's immigration enforcement has gone way too far. Her Democratic challenger, former CBS Miami anchor Eliott Rodriguez, joins "The Takeout" with his take on the ad.
Sen. Tim Scott: GOP "in fight for our lives"
CBS News has learned chair of the National Republican Senatorial Committee, Sen. Tim Scott, told colleagues they're "in the fight of our lives" for the midterm battleground races. CBS News political director Fin Gómez joins with analysis.