Stocks fall as report reveals pullback in consumer spending
Investors are uneasy as signs point to possible recession caused by Fed interest rates hikes.
Gas Prices
Key inflation gauge rose 6.3% in May, unchanged from April
Despite added jobs and higher wages "Americans are running faster just to stay even," said one economist.
Factors of gas prices
Lana Zak breaks down how gas prices are calculated including how much influence Russia's Ukraine invasion has actually had on what you pay at the pump.
Texans view state's economic growth as good but feel higher prices' pinch
Most Texans are having to drive less and cut back on spending.
What is the federal gas tax
Lana Zak breaks down what the federal gas tax actually funds and how much you could actually save if it is suspended.
Stocks fall as inflation fears continue to grip investors
"Confidence is going to continue to shrink as long as inflation remains high," said one analyst.
6/13: CBS News Mornings
House Jan 6. committee holding second hearing; New Jersey gas tops $5 for first time
6/15: CBS News Mornings
Fed likely to announce interest rate hike; Texas lawmaker demands answers on police response.
Stocks jump, with Wall Street on track for rare winning week
Financial markets are rising, with some analysts predicting an economic slowdown rather than a recession.
High gas prices sting millions who rely on driving for work
"If you are the company that requires everyone to come in all the time, you're a pariah," said one employer.
Biden faces gas tax holiday roadblocks
President Joe Biden is hoping his proposed gas tax holiday would get prices on gas and diesel down. but he's getting pushback from both Republicans and Democrats. CNS News Senior White House and Political Correspondent Ed O'Keefe joins CBS News Mornings with more.
Biden proposes federal gas tax holiday
President Biden is calling on Congress to suspend the federal 18-cent federal gas tax and 24-cent federal diesel tax. CBS News chief White House correspondent Nancy Cordes reports.
Biden urges Congress to suspend gas tax for 3 months
President Biden called on Congress to halt the federal gas tax for three months as gas prices soar. But there's debate about whether it will actually help consumers. Nancy Cordes has the details.
Biden calls for three-month federal gas tax "holiday"
The idea, which would require the support of Congress, is already being met with skepticism.
Biden faces uphill battle on gas tax holiday
President Biden is urging Congress to pass his proposed three-month federal gas tax holiday. But lawmakers in his own party are skeptical it would help consumers. CBS News chief White House correspondent Nancy Cordes has the latest.
Stocks droop on Fed's commitment to "restore price stability"
Stocks have slumped in recent weeks amid investor fears that sharply higher interest rates could trigger a recession.
President Biden calls for gas tax holiday
President Joe Biden is urging congress to pass a three-month federal gas tax holiday. However, some Democrats -- including former President Barack Obama -- have long criticized the idea. CBS News Senior White House and Political Correspondent Ed O'Keefe has more on why Biden is moving forward with this proposal.
Fed will keep raising interest rates as long as appropriate
Fed Chairman Jerome Powell acknowledged recession is possible but later said its likelihood is not "particularly elevated right now."
President Biden considers gas tax holiday
President Biden is considering a gasoline tax holiday to address rising prices amid inflation, but the measure would require congressional approval before taking effect. CBS News political contributor and Washington Post deputy politics editor Sean Sullivan explains why a plan to pause federal gas taxes would likely face an uphill battle on Capitol Hill.
Stocks bounce back after steep selloff last week
Financial markets rebounded Tuesday, but some analysts think U.S. stocks have yet to touch bottom.
White House says recession is not inevitable
As inflation remains high and the stock market falls, U.S. Treasury Secretary Janet Yellen and other White House officials are amplifying President Joe Biden's message that a recession is not inevitable. CBS News anchors Anne-Marie Green and Vladimir Duthiers spoke with political correspondent Caitlin Huey-Burns about the Biden Administration's potential plans to offer temporary relief from rising gas prices.
Biden says he'll decide soon on possible gas tax holiday
Soaring gas prices are putting pressure on the president to take action.
Mortgage rates in the U.S. jump by most in 35 years
Borrowing costs for a typical home loan surged a day after the Federal Reserve hiked its benchmark rate.
6/15: Red and Blue
Biden pushes oil companies on gas production; FDA panel supports COVID vaccine for kids under 5
Biden calls out oil companies as gas prices soar
President Biden sent letters to several U.S. oil companies Wednesday, asking them to do more to reduce the price of gas. Zeke Miller, a CBS News political contributor and White House reporter for the Associated Press, joined Matt Pieper to discuss the issue.
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.
Company owned by Trump donor won $1.7M no-bid Reflecting Pool contract
The federal government awarded a company owned by a Trump donor $1.7 million to install a new water cleaning system for the Lincoln Memorial Reflecting Pool, records show.
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 blocks DOJ from releasing Biden's conversations with biographer for 3 weeks
A judge on Friday cleared the way for the DOJ to disclose former President Joe Biden's conversations with his biographer to the Heritage Foundation. Later in the day, she blocked the release for three weeks.
U.S. clinches spot in World Cup knockout round with dominant 2-0 win over Australia
In front of a roaring Seattle crowd, the U.S. men's soccer team on Friday defeated Australia in its second World Cup match, clinching a spot in the Round of 32 in the process.
1 killed, dozens injured after trains collide in England, British officials say
At least one person was killed and dozens more were injured after two trains collided north of London on Friday, British officials 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."
U.S.
More U.S.
U.S. clinches spot in World Cup knockout round with dominant win over Australia
In front of a roaring Seattle crowd, the U.S. men's soccer team on Friday defeated Australia in its second World Cup match, clinching a spot in the Round of 32 in the process.
Judge blocks DOJ from releasing Biden's conversations with biographer for 3 weeks
A judge on Friday cleared the way for the DOJ to disclose former President Joe Biden's conversations with his biographer to the Heritage Foundation. Later in the day, she blocked the release for three weeks.
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.
MoneyWatch
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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
Company owned by Trump donor won $1.7 million no-bid Reflecting Pool contract
The federal government awarded a company owned by a Trump donor $1.7 million to install a new water cleaning system for the Lincoln Memorial Reflecting Pool, records show.
Judge blocks DOJ from releasing Biden's conversations with biographer for 3 weeks
A judge on Friday cleared the way for the DOJ to disclose former President Joe Biden's conversations with his biographer to the Heritage Foundation. Later in the day, she blocked the release for three weeks.
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."
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
U.S. clinches spot in World Cup knockout round with dominant win over Australia
In front of a roaring Seattle crowd, the U.S. men's soccer team on Friday defeated Australia in its second World Cup match, clinching a spot in the Round of 32 in the process.
1 killed, dozens injured after trains collide in England, British officials say
At least one person was killed and dozens more were injured after two trains collided north of London on Friday, British officials 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.
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
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Crime
Mangione's legal team axes psychiatric defense
Lawyers for Luigi Mangione have withdrawn their plan to pursue a psychiatric defense in his New York state murder trial over the killing of UnitedHealthcare CEO Brian Thompson. CBS News legal contributor Jessica Levinson breaks down the decision.
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.
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
U.S. clinches spot in World Cup knockout round
The U.S. secured a ticket to the knockout phase of the FIFA World Cup Friday with a 2-0 victory over Australia. CBS News correspondent Nicole Valdes reports from Seattle.
Africa CDC director issues dire Ebola warning
Top African health officials are warning that the deadly Ebola outbreak in Central Africa could become the worst in recorded history if transmission rates do not flatten. Syra Madad, infectious disease epidemiologist at the Harvard Belfer Center, joins to examine the state of efforts to contain the number of cases.
Timeline of D.C. Mall Reflecting Pool issues
Problems at the Lincoln Memorial Reflecting Pool persist despite President Trump's multimillion-dollar makeover. New York Times investigative reporter David Fahrenthold, who has been covering the matter, joins "The Takeout" with more.
Mangione's legal team axes psychiatric defense
Lawyers for Luigi Mangione have withdrawn their plan to pursue a psychiatric defense in his New York state murder trial over the killing of UnitedHealthcare CEO Brian Thompson. CBS News legal contributor Jessica Levinson breaks down the decision.
Trump tells Axios his power has "no limits"
President Trump sat down with Axios reporter and CBS News contributor Marc Caputo after returning from the G7 summit, saying he sees no limits to his power amid the war in Iran and that Israel does what he says. Caputo joins "The Takeout" to unpack his conversation with the president.