Powell says Fed could keep lifting rates "for some time"
While higher borrowing costs will hurt, failure to ease inflation "would mean far greater pain," Federal Reserve chief says.
Gas Prices
The rise of side hustles amid inflation
CBS News' Anne-Marie Green and Errol Barnett talk with Alejandro Chavarria, Erin Welsh and Pamela Ortiz, who are each pursuing side hustles, as part of CBS News' Uncertain Economy series. More and more Americans are taking on extra work as they struggle to make ends meet amid rising gas and grocery prices due to inflation.
Latest GDP figure eases concern about imminent U.S. recession
New government data shows economic growth shrank at a 0.6% annual rate in the second quarter — less than initially thought.
Stocks fall sharply amid renewed inflation fears
S&P 500 suffers its biggest drop since June as investors fret over the Fed's effort to tame inflation.
U.K. inflation tops 10% on soaring food and energy costs
Britain's inflation rate soared to a new 40-year high, squeezing households. Economists expect it to get worse.
Target's profit craters after it cut prices to clear inventory
Retailer's profits plunge after it slashes prices to clear unwanted inventories of clothing, home goods and other items.
Walmart reports better-than-expected Q2 as Americans cut costs
The company is cutting prices to get rid of excess inventory after a huge shift in how Americans spend.
U.S. stocks up as investors focus on economy ahead of retail data
Walmart and Home Depot kick off a host of retail earnings reports on Tuesday, followed by Lowe's and Target.
U.S. stocks fly high, as S&P 500 ends 4th straight week of gains
Some investors believe inflation may have peaked, allowing Federal Reserve to be less aggressive with hikes.
Gas prices drop under $4 average
According to AAA, the national average price for a gallon of gas has dropped to $3.99. CBS News transportation correspondent Errol Barnett joins Carter Evans to discuss the latest.
Gas prices fall below $4 for first time since March
The average price for a gallon of regular gas fell below $4 for the first time in five months, according to AAA. The relief comes from an increase in global oil supply and a decrease in fuel demand. Errol Barnett takes a look.
Gas prices drop below $4 a gallon for first time since early March
Declining oil prices and somewhat lower demand for gas since motorists have been driving a little less have combined to give Americans some relief at the pump.
Prices dropping across the U.S.
The national average gas price has dropped to below $4. Plus, wholesale prices dropped in July for the first time since April 2020. Jaime Quiros, senior portfolio manager at FBB Capital Partners, joins CBS News to discuss what these reports mean for the state of the economy.
Food costs hit highest inflation level in 40 years
Despite inflation slowing down in July, food prices are rising to levels not seen in more than 40 years. Yahoo Finance reporter Alexandra Semenova joins "CBS News Mornings" to discuss the latest.
Investors cheered by another sign U.S. inflation is easing
Economy is "experiencing a healthy deceleration, not a recession," Goldman Sachs analyst says.
U.S. stocks soar to 3-month high as inflation falls in July
Latest inflation data bolsters hopes that consumer prices have peaked and that the Fed can temper interest rate hikes.
MoneyWatch: Signs inflation is slowing
July's Consumer Price Index report showed a 8.5% annual inflation rate, down from 9.1% in June, which was the highest in over 40 years. The Wall Street Journal's Akani Otani joins CBS News with more on the economic impact.
Inflation rate declines a bit as gas prices drop
The annual inflation rate was 8.5% in July, a slight dip from the four-decade high of 9.1% in June. CBS News reporter Sarah Ewall-Wice breaks down what this means for American consumers.
Inflation rate down from 40-year high
The Consumer Price Index rose to 8.5% in the month of July, bringing inflation down from its 40-year high. Gas prices are falling, but the cost of food and rent are still increasing. Lori Bettinger, president of BancAlliance and the former director of the U.S. Treasury's Troubled Asset Relief Program, joined CBS News to discuss what this data means for the economy.
Drivers could soon see average gas prices hit $3.99 per gallon
Drivers have been cutting their miles traveled since March in response to high prices at the pump, one survey shows.
Parliamentarian alters drug plan in Inflation Reduction Act before Senate vote
The Senate's nonpartisan rules arbiter has dealt a blow to Democrats' plan for curbing drug prices.
Stocks dip after strong jobs report offers mixed news for investors
New data on hot U.S. jobs market suggests Fed won't be reining in its aggressive rate hikes anytime soon.
Gas prices continue to fall
Gas prices are continuing to decline from record highs earlier this summer. Laura Sanicola, a reporter covering energy, refining and renewables for Reuters, joins CBS News to discuss the reasons behind the price drop.
U.S. gas prices fall for 7 straight weeks
The cost of a gallon of gas continues to fall in the U.S. Ellen Wald, senior fellow at the Atlantic Council's Global Energy Center, joins "CBS News Mornings" to discuss what's helping ease the pain at the pump.
Why gasoline prices have dropped for 7 straight weeks
Drivers are paying about $1 less per gallon than they did in June. The reason for that could hint at trouble ahead.
Tennessee's attempt to execute Christa Pike using lethal injection fails
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Iran calls U.S. Iraq withdrawal a victory that should extend to entire region
Co-pilot stabs pilot, tries to crash passenger jet en route to Israel, Netanyahu says
Hegseth says he's cutting generals and admirals by 20%, ousting "woke"
Details emerge in case of former Cornell student alleging rape by frat members
Trump unveils South Korean investment in Alaska gas pipeline
Netanyahu says it's too early to determine motive in cockpit stabbing
Trump deflects on audio of Paxton calling GOP convention a drag on polls
