Fed says sharply higher interest rates may be needed
Fed officials were concerned at last month's meeting that consumers were starting to expect higher inflation in a self-perpetuating cycle.
Gas Prices
Stocks rise after Fed admits more rate hikes could weaken economy
Investors are monitoring economic data for clues on inflation trajectory, with eye on Friday release of June employment numbers.
Crude falls below $100 a barrel for the first time since May 11
Gasoline is now below $5 a gallon across most of U.S. Prices at pump could fall another 40 to 65 cents, expert says.
Can't "out-budget" inflation? Here are things you can do
Rising prices feel impossible to manage when money is already tight. These tips might help.
U.S. stocks fall as inflation, energy weigh on growth
Market turmoil continues with experts warning that fear of a recession could be a self-fulfilling prophecy.
Small business hit with back rent demands amid high inflation
"I needed $10,000 in 15 days," said décor shop owner in Texas who took out several loans in order to pay rent on time.
Bezos slams White House for telling gas stations to cut prices
The Amazon.com founder claims Biden is either relying on "misdirection or a deep misunderstanding of basic market dynamics."
Millions expected to travel Fourth of July
Approximately 48 million Americans are expected to travel 50 miles or more this Fourth of July holiday. But the high volume of travelers are being met with near-record high gas prices, long airport lines, flight delays and cancellations. Elise Preston has more.
Bracing for Fourth of July travel nightmare
The Fourth of July holiday weekend is expected to be a difficult one for travelers. The airline industry is struggling with a spike in flight cancellations and delays, while drivers face high gas prices. CBS News transportation correspondent Errol Barnett has more.
Investors suffered their worst first half of a year since 1970
The start of 2022 has pushed Wall Street into a bear market. Here's what the rest of the year could hold for investors.
Stocks fall as report reveals pullback in consumer spending
Investors are uneasy as signs point to possible recession caused by Fed interest rates hikes.
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.
Exclusive
Trump shares more details on $5,000 dividends in exclusive interview
CBS News Texas political reporter Jack Fink sat down with President Trump for an exclusive interview during the president's visit to North Texas.
Live
Iran strikes U.S. jets after Trump promises war to end after midterms
U.S. jets were hit by Iranian missiles while parked at a base in Jordan, sources tell CBS News, while Trump said the war will end "immediately" after midterms.
George W. Bush says Americans "don't pay attention to the lesson of 9/11"
Former President George W. Bush gave rare remarks on Wednesday as Americans mark 25 years since the Sept. 11 terrorist attacks.
Exclusive
Stella Parton says her sister Dolly was prepared and at peace when she died
Stella Parton gives insight into her sister Dolly Parton's marriage, makeup habits and views on death in an exclusive CBS News interview.
Anthropic says scientists used AI for possible biological weapons development
Anthropic said it blocked scientists who used its Claude AI models "in ways that could support biological weapons development."
Appeals court declines to lift block on Postal Service rule for mail ballots
A federal appeals court denied the Trump administration's request to lift a lower court's order that blocked new rules for mail ballots before the midterms.
The OpenAI-Hugging Face hack was just the beginning, experts say
"What happens inside frontier AI companies now clearly affects everyone outside of them," an expert said following the hack on Hugging Face by AI agents being tested by OpenAI.
Why you shouldn't bank on Trump's $5,000 dividends happening
President Trump pledged $5,000 to all American adults if Republicans retain control of Congress. You may not be able to take that to the bank.
Afghan girls who study in secret want you to read their "letters to the world"
21 Afghan girls, bravely defying the Taliban by continuing to study, handed CBS News letters containing their stifled, often humble dreams "for an ordinary life."
U.S.
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Ross Fire still burning, with over 90,000 acres scorched
The wildfire, which has torn through Palo Pinto and Jack counties, forced evacuations, closed roads and disrupted schools.
Trump's $5,000 payment would reignite inflation, economists say
Mr. Trump's pledge to give $5,000 to Americans would stoke inflation and worsen the nation's fiscal outlook, according to economists.
August CPI report could spark the Fed's first rate hike in over 3 years
Friday's August CPI report could set the stage for the Federal Reserve's first interest rate hike in more than three years.
Anthropic says scientists used AI for possible biological weapons development
Anthropic said it blocked scientists who used its Claude AI models "in ways that could support biological weapons development."
White House framework for testing new AI models remains hidden as concerns mount
The White House has not publicly released the voluntary framework for testing frontier AI models that it finalized in August.
MoneyWatch
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Trump's $5,000 payment would reignite inflation, economists say
Mr. Trump's pledge to give $5,000 to Americans would stoke inflation and worsen the nation's fiscal outlook, according to economists.
August CPI report could spark the Fed's first rate hike in over 3 years
Friday's August CPI report could set the stage for the Federal Reserve's first interest rate hike in more than three years.
Why you shouldn't bank on Trump's $5,000 dividends happening
President Trump pledged $5,000 to all American adults if Republicans retain control of Congress. You may not be able to take that to the bank.
Humans "close to being outsmarted" by superintelligence, AI expert says
Rapid developments in AI are prompting concerns about "superintelligence." Here's why some experts are worried.
Feds to buy up to $6 billion in Treasury bonds. Here's why.
Wall Street analysts are skeptical that the Treasury Department's bond purchases can curb yields and lower U.S. borrowing costs.
Politics
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Exclusive
Trump shares more details on $5,000 dividends in exclusive interview
CBS News Texas political reporter Jack Fink sat down with President Trump for an exclusive interview during the president's visit to North Texas.
Trump's $5,000 payment would reignite inflation, economists say
Mr. Trump's pledge to give $5,000 to Americans would stoke inflation and worsen the nation's fiscal outlook, according to economists.
White House framework for testing new AI models remains hidden as concerns mount
The White House has not publicly released the voluntary framework for testing frontier AI models that it finalized in August.
Appeals court declines to lift block on Postal Service rule for mail ballots
A federal appeals court denied the Trump administration's request to lift a lower court's order that blocked new rules for mail ballots before the midterms.
Why you shouldn't bank on Trump's $5,000 dividends happening
President Trump pledged $5,000 to all American adults if Republicans retain control of Congress. You may not be able to take that to the bank.
HealthWatch
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Coroner releases details on 2 infant deaths in Pennsylvania measles outbreak
Neither infant was old enough to be vaccinated. The first dose of the measles vaccine is typically given at around 1 year of age.
How donating blood could reveal clues about your own health
Amid a national blood supply crisis, Dr. Courtney Lawrence sat down with Norah O'Donnell to talk about donating blood, health myths and more.
A generation of kids suffers as Trump destabilizes immigrant families
Children in immigrant families are facing multiple health threats from President Trump's policies.
NYC officials release unseen post-9/11 air quality documents
New York City officials released thousands of previously unseen documents questioning the air quality at Ground Zero following the 9/11 attacks.
What is postpartum psychosis?
Experts discuss the symptoms, diagnosis and stigma surrounding postpartum psychosis (not to be confused with postpartum depression), a psychiatric emergency with symptoms that can be extreme and dangerous, as testified in the trial of Lindsay Clancy.
World
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Spain's spy agency warned of Ceuta border breach plans before crisis, declassified files show
Spain's national intelligence agency issued multiple warnings about a potential mass crossing of migrants from Morocco into the Spanish exclave of Ceuta, declassified documents show.
25 people killed in fire on cargo ship docked in China, state media reports
The deadly fire broke out when the cargo ship was docked for repairs at a major shipping hub on China's northeastern coast.
Multiple U.S. military aircraft damaged in Iranian strikes on base in Jordan, sources say
One A-10 Thunderbolt, an attack aircraft known as the Warthog, was struck and lost a wing, according to sources.
Deadly fire on ferry off Philippines leaves dozens of people missing
A fire on a passenger ferry off the western Philippines left dozens of people missing and killed at least five. An intense and widespread search was on for the unaccounted for.
Barry Melrose, prominent NHL player, coach and broadcaster, dies at 70
Barry Melrose, a hockey player-turned-coach who led the Los Angeles Kings to the 1993 Stanley Cup Final before going on to a long career in broadcasting the sport, has died at 70.
Entertainment
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Entertainment
Sandra Bullock, Lee Pace on "Practical Magic 2"
Sandra Bullock and Lee Pace sat down with Adriana Diaz to discuss "Practical Magic 2," which premieres Friday.
Exclusive
Stella Parton says her sister Dolly was prepared and at peace when she died
Stella Parton gives insight into her sister Dolly Parton's marriage, makeup habits and views on death in an exclusive CBS News interview.
Dolly Parton's sister on star's life, death
Dolly Parton's sister, Stella, sits down with Gayle King for her first interview since Dolly's death to discuss her sister's legendary life. Stella Parton says the country star was "definitely prepared" and at peace when she died last month.
Fashion designer Romeo Hunte shares new pieces
Fashion designer Romeo Hunte joins "The Daily Report" to discuss pieces in his new collection as New York Fashion Week kicks off.
Dolly Parton's sister on the private funeral
Two weeks after her death at 80, a new song from Dolly Parton was released called "Bound to Ride," as part of an upcoming tribute album to the Stanley Brothers. Gayle King spoke exclusively with Dolly Parton's younger sister in an interview that will air on "CBS Mornings" on Thursday.
Technology
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Anthropic says scientists used AI for possible biological weapons development
Anthropic said it blocked scientists who used its Claude AI models "in ways that could support biological weapons development."
Anthropic reveals another AI hacking incident
Anthropic disclosed another AI hacking incident involving one of its earlier models. Forum AI's Robbie Goldfarb joins CBS News with more context.
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.
The OpenAI-Hugging Face hack was just the beginning, experts say
"What happens inside frontier AI companies now clearly affects everyone outside of them," an expert said following the hack on Hugging Face by AI agents being tested by OpenAI.
Breaking down Anthropic insiders' AI warnings
Former and current Anthropic employees issued public warnings this week about the risks of AI development, saying it has the potential to kill all humans. The Atlantic CEO Nick Thompson joins with more.
Science
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First-ever adult T. rex trackway found in North Dakota
Paleontologists have identified the first known trackway made by a full-grown Tyrannosaurus rex, and the discovery was made in the North Dakota badlands.
Ig Nobel prizes go to scientists studying cockroach milk, nose-blowing, more
Ten research teams were honored at a satirical science awards ceremony that was hosted outside the U.S. for the first time due to travel concerns. A study of cockroach milk was among the winners.
Vote on the fattest marmot now
Marmots, not bears, are the largest "true" hibernating mammal, UCLA marmot researchers Katie Adler and Emily Renkey say. The two share more fun facts about these cute creatures and explain how to vote for the fattest marmot.
NASA plans to launch new space telescope
NASA's new telescope could change the way we see space. With a wide-field camera that will reveal an area up to 200 times larger than the Hubble Space Telescope, and an orbit a million miles from Earth, the Nancy Grace Roman telescope is expected to find tens of thousands of unknown exoplanets.
Invasive Joro spiders are "slowly spreading." Here's what to do if you see one.
The Great Smoky Mountains National Park told visitors Tuesday that invasive Joro spiders "may be hanging in a web near you."
Crime
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Crime
Lindsay Clancy lawyer files to toss mistrial
Lindsay Clancy's defense attorney, Kevin Reddington, filed a motion Thursday to throw out last week's mistrial and acquit Clancy. Clancy admitted to killing her three children, but pled not guilty to murder charges, arguing she was suffering from postpartum psychosis.
One year since Charlie Kirk's killing
It has been one year since conservative political activist Charlie Kirk was fatally shot during an event in Utah. Benji Backer, the founder and CEO of Nature Is Nonpartisan, joins CBS News with more on his friendship with Kirk.
Video shows attempted murder in Ohio
A potential killing was caught on camera in Ohio and was revealed at the trial of a man found guilty of attempting to shoot his wife in a crowded restaurant. Mark Strassmann reports.
Lindsay Clancy Mistrial: Reddington Weighs In
In the wake of the mistrial in the Lindsay Clancy murder case, CBS News correspondent Shanelle Kaul and WBZ-TV reporter and anchor Kristina Rex share new reporting from inside the courtroom, exclusive juror insights, and behind-the-scenes details of the dramatic final courtroom moments. Plus, we learn what's next as the Plymouth County District Attorney's Office weighs its options.
Breaking down Lindsay Clancy attorney's plans
Kevin Reddington, Lindsay Clancy's defense attorney, sat down with "CBS Mornings" on Wednesday, where he said he plans to ask for the case to be thrown out. Caroline Polisi breaks down his statements.
Space
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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.
NASA images show 60-foot-wide crater on moon after SpaceX rocket booster crash
A NASA spacecraft circling the moon is providing the sharpest views yet of the crater carved by a crashing SpaceX rocket.
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
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Latest CBS News Videos
The release of a 9/11 report's secret pages
In 2016, former members of Congress said pages from the report may hold clues about a possible Saudi support network for 9/11 hijackers, and that people would be "surprised" by some of the information.
Trump on how U.S. would fund $5,000 dividends
President Trump on Wednesday pitched a $5,000 "dividend" payment to every American, but only if Republicans win in the midterms. CBS News' Fin Gómez and Kelly O'Grady have the latest.
Doctor debunks blood donation myths
Dr. Courtney Lawrence answers Norah O'Donnell's true or false questions about blood donation.
Doctor: 3 things to know when donating blood
Dr. Courtney Lawrence from the Red Cross shared with Norah O'Donnell on "Healthful" the three things people should know when they donate blood.
Lindsay Clancy lawyer files to toss mistrial
Lindsay Clancy's defense attorney, Kevin Reddington, filed a motion Thursday to throw out last week's mistrial and acquit Clancy. Clancy admitted to killing her three children, but pled not guilty to murder charges, arguing she was suffering from postpartum psychosis.