Inflation rate edged higher by 2.4% in May, CPI report shows
The inflation rate is inching higher, with Wall Street expecting tariffs to increase prices throughout the remainder of 2025.
Inflation
inflation rose less than expected, data shows
The latest Consumer Price Index (CPI) report shows that U.S. inflation rose by 0.1% in May, which is less than expected. CBS News MoneyWatch correspondent Kelly O'Grady breaks it all down. Also, CBS News' Natalie Brand has the latest updates from the White House as President Trump boasts about an agreement with China being close to the finish line.
Bessent boasts new inflation data
Treasury Secretary Scott Bessent is testifying before the House Ways and Means Committee in Washington, D.C., where he boasted new Consumer Price Index data that showed cooling inflation. The rate did show a slight rise from April's numbers, however. Bessent also called out China after he spent days in London negotiating with senior Chinese officials on a potential trade agreement.
Toys caught in the crosshairs of Trump's tariffs
New evidence shows that President Trump's tariff policies are shaking up global trade. Imports of foreign goods plunged about 16% in April, the largest one-month drop on record. Nancy Chen dives into how the toy business is being impacted.
Timeline of Trump's steel, aluminum tariffs
The Trump administration's increased 50% tariff on steel and aluminum imports went into effect Wednesday. U.S. steel firms have praised the action, while various foreign trade partners have condemned it. CBS News MoneyWatch Correspondent Kelly O'Grady reports.
ADP employment report shows hiring slowdown
ADP's May employment report, released on Wednesday, suggests that the labor market is weakening. CBS News MoneyWatch correspondent Kelly O'Grady unpacks the data and what it could mean for the U.S. economy.
More Americans turning to "buy now, pay later" loans to purchase groceries
Roughly a quarter of consumers use "buy now, pay later" loans for ordinary expenses like groceries. That's worrisome, a personal finance expert says.
"Buy now, pay later" for groceries?
While "buy now, pay later" loans have been used for big-ticket items for years, new data shows that a growing number of American consumers use the method for everyday items. CBS News MoneyWatch correspondent Kelly O'Grady has more.
Red Lobster's CEO on comeback strategy
Red Lobster is coming back from bankruptcy in this era of economic uncertainty. Red Lobster CEO Damola Adamolekun spoke with CBS News MoneyWatch correspondent Kelly O'Grady about the company's strategy.
Las Vegas may still dazzle, but its sparkle is coming at a steeper price
Higher prices haven't stopped convention traffic in Las Vegas, but casual trips are down.
Fewer tourists are traveling to Las Vegas
Las Vegas may still dazzle, but for many visitors, that sparkle now comes at a steeper price. Inflation is hitting hard, and that means fewer tourists are traveling to the city. Andrés Gutierrez reports.
CBS News poll: 39% say U.S. economy is good
A new CBS News poll shows that 39% of Americans rate the state of the U.S. economy as "good." Anthony Salvanto, CBS News executive director of elections and surveys, breaks down the findings.
Trump announces doubled tariffs on steel
On Friday in Pennsylvania, President Trump announced that "we are going to be imposing a 25% increase, from 25% to 50%, the tariffs on steel into the U.S., which will even further secure the steel industry in the U.S." CBS News MoneyWatch correspondent Kelly O'Grady breaks down what this means.
Fed's preferred gauge shows inflation cooling
New economic data released on Friday showed higher U.S. personal income, a softening of inflation and lower trade deficits. CBS News MoneyWatch correspondent Kelly O'Grady has the details.
Key U.S inflation gauge shows price growth cooled in April
Consumer spending slowed despite rising incomes, potentially an early reaction to higher prices on some imported goods.
Data on consumer sentiment, inflation
U.S. consumer sentiment improved slightly in May, according to new data from the University of Michigan. CBS News' MoneyWatch correspondent Kelly O'Grady has the latest.
Poll: Americans' economic views improving
While CBS News polling shows that Americans' views on the economy have improved since winter, there is still concern when it comes to finances. CBS News executive director of elections and surveys Anthony Salvanto breaks it down.
Legal issues over Trump's tariffs to continue
President Trump's efforts to reorient global trade has sparked a legal whirlwind. After two separate rulings halted Mr. Trump's global tariffs, a federal appeals court blocked that decision, allowing his plan to go forward as the legal challenges unfold. CBS News' Olivia Rinaldi and Barron's senior markets analysis writer Paul La Monica break it all down.
Toymaker sues Trump over tariffs
A national toymaker is suing the Trump administration over sweeping tariffs, claiming that they are an overreach of the president's authority. The CEO of learning-based toy company Learning Resources says tariffs specifically on China will be catastrophic for his 500-employee business. Rick Woldenberg joins "The Daily Report" to discuss.
Trump threatens EU, Apple with new tariffs
In a return to the global trade war, President Trump threatened a new round of tariffs on the European Union. He said he recommends a 50% tariff on EU imports starting as soon as June 1, after saying negotiations with the EU are "going nowhere." CBS News' Major Garrett and Javier David have more.
Data on Americans spending less on "fun"
More than half of Americans are planning to spend less money on travel, entertainment and dining purchases this year, according to a Bankrate survey. Ted Rossman, a senior industry analyst at Bankrate, joins CBS Morning News to break down what it all means.
Home electricity bills forecast to reach a 12-year high this summer
High temperatures and rising electricity costs could boost home energy bills by 6% this summer, a new report says.
Impact of Moody's U.S. credit downgrade
The international credit agency Moody's has downgraded the U.S.' credit rating from its highest AAA rating to Aa1. CBS News senior business and technology correspondent Jo Ling Kent explains what the move could mean for the average American.
Understanding cycle of deficit spending, debt
The U.S. economy is the largest globally, but its debt outweighs that distinction by trillions. Maya MacGuineas, president of the nonpartisan nonprofit Committee for a Responsible Federal Budget, joins "America Decides" to explain why that's a problem, and how increasing that debt with the latest budget proposal could hurt average Americans.
Consumer confidence falls to lowest level in 3 years amid inflation fears
Weakening consumer confidence and mounting uncertainty could hit spending, economists warn.
Trump will push for "anti-weaponization fund" if Blanche not confirmed, he says
Todd Blanche previously repeatedly told Congress the "anti-weaponization fund" was "dead."
First on CBS
U.S., Israel preparing to bombard energy-related targets in Iran, sources say
The U.S. and Israel plan to hit Iran's energy infrastructure as soon as this weekend, although no final decision has been made, sources familiar with the matter told CBS News.
DOJ to dismiss Reflecting Pool vandalism charges, citing "botched installation"
Federal prosecutors moved to dismiss an indictment charging U.S. Olympic canoeist David Hearn with ripping the bottom of the Lincoln Memorial Reflecting Pool, saying the damage was caused by "botched installation and not vandalism."
Live
Iran accuses U.S. of escalating tensions as Washington plans more strikes
Iran accused the U.S. of escalating tensions in the region and said it's preparing its own response if Washington goes ahead with new strikes.
Spain to put containment fence around Ceuta after migrants rush border
Most migrants who entered the tiny Spanish territory of Ceuta have been returned to Morocco, Spain's authorities said Saturday.
Vincent Pastore, famous for his role in "The Sopranos," dies at 80
Vincent Pastore played Salvatore "Big Pussy" Bonpensiero on all six seasons of "The Sopranos," which aired from 1999 to 2007.
At least 3 killed in shooting at Idaho In-N-Out restaurant, officials say
Three people were killed and two more wounded in a shooting that occurred in the area of an In-N-Out restaurant in Twin Falls, Idaho, local authorities said Saturday.
Savannah Guthrie asks for answers about mom Nancy after notes released
Savannah Guthrie said she and her family have been "in agony and despair ever since" her mother Nancy's disappearance in February.
Several people killed in explosion at Moscow restaurant, Russian officials say
An improvised explosive device detonated at a restaurant Saturday in central Moscow, according to Russian state media.
U.S.
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At least 3 killed in shooting at Idaho In-N-Out restaurant, officials say
Three people were killed and two more wounded in a shooting that occurred in the area of an In-N-Out restaurant in Twin Falls, Idaho, local authorities said Saturday.
Vincent Pastore, famous for his role in "The Sopranos," dies at 80
Vincent Pastore played Salvatore "Big Pussy" Bonpensiero on all six seasons of "The Sopranos," which aired from 1999 to 2007.
Savannah Guthrie asks for answers about mom Nancy after notes released
Savannah Guthrie said she and her family have been "in agony and despair ever since" her mother Nancy's disappearance in February.
A brief timeline of Iranian cyberattacks on the U.S.
Investigators are probing whether Iranian hackers are behind this week's malicious cyber activity against water systems in Minnesota. If they are found to be the culprits, it would not be the first time.
FIFA scraps its World Cup investment plan after backlash
FIFA is shelving a controversial plan that would have allowed for billions of dollars in private commercial investment in the World Cup after the proposal was met with fierce opposition from its member nations.
MoneyWatch
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Nearly 1 in 4 Americans want CEOs to "stop being greedy," survey finds
New poll explores what people wish corporate leaders understood about economic life in the U.S. today.
Families sue Meta, Snapchat, TikTok, YouTube over deaths of 4 teens
The families of four children who died by suicide allege that using social media led to depression, anxiety and other mental health problems.
New York sues Kalshi, alleging it enables illegal gambling
A growing number of U.S. states are seeking to crack down on prediction markets, but face pushback from federal regulators.
OCTROT heated blankets and throws recalled after fires and injuries
Chinese-made electric bedding poses "risk of serious injury or death," according to U.S. product safety regulators.
Anthropic reveals Claude "gained unauthorized access" to "real-world systems"
Anthropic's artificial intelligence model Claude "gained unauthorized access" to three outside organizations on three separate occasions during testing.
Politics
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Bombing in Colombia injures 11, days before presidential inauguration
President-elect Abelardo de la Espriella condemned the bombing and said "terrorism will not intimidate Colombia."
Trump will push for "anti-weaponization fund" if Blanche not confirmed, he says
Todd Blanche previously repeatedly told Congress the "anti-weaponization fund" was "dead."
A brief timeline of Iranian cyberattacks on the U.S.
Investigators are probing whether Iranian hackers are behind this week's malicious cyber activity against water systems in Minnesota. If they are found to be the culprits, it would not be the first time.
DOJ to dismiss Reflecting Pool vandalism charges, citing "botched installation"
Federal prosecutors moved to dismiss an indictment charging U.S. Olympic canoeist David Hearn with ripping the bottom of the Lincoln Memorial Reflecting Pool, saying the damage was caused by "botched installation and not vandalism."
First on CBS
U.S., Israel preparing to bombard energy-related targets in Iran, sources say
The U.S. and Israel plan to hit Iran's energy infrastructure as soon as this weekend, although no final decision has been made, sources familiar with the matter told CBS News.
HealthWatch
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She went to "hell and back" for a diagnosis. Then her sister showed symptoms.
Megan Kaverman's weight gain, fatigue, high blood pressure and other symptoms were dismissed for years before she was diagnosed with a rare heart disease.
Peptide vendor sentenced for "trail of harm"
A federal judge sentenced the owner of a peptide company to nearly 6 years in prison for deceiving customers and selling products adulterated with steroids, citing a "trail of harm." Adam Yamaguchi reports.
People with disabilities fear service cuts as DOJ questions legal protections
The Department of Justice in June issued a legal opinion saying states aren't required to provide services that help people with disabilities remain in their homes.
Senate committee advances Dr. Erica Schwartz to be Trump's CDC director
If confirmed by the full Senate, Dr. Erica Schwartz would become the 22nd director of the Atlanta-based Centers for Disease Control and Prevention.
Millions of kids have caffeine in their diet. It's not all coming from soda.
On any given day, kids consume an average of 19.4 milligrams of caffeine, which is about two-thirds of what's in a can of Coke, according to a new report.
World
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Several people killed in explosion at Moscow restaurant, Russian officials say
An improvised explosive device detonated at a restaurant Saturday in central Moscow, according to Russian state media.
Wildfire danger in Europe shifts to Greece as evacuation orders remain in France
For Greece, the danger carried grim resonance: a 2018 wildfire at the seaside community of Mati, near Athens, killed 104 people.
Bombing in Colombia injures 11, days before presidential inauguration
President-elect Abelardo de la Espriella condemned the bombing and said "terrorism will not intimidate Colombia."
Europe continues to celebrate Pride after attack on Berlin parade
Large Pride events in Hamburg and Amsterdam are underway after last week's deadly ramming attack in Berlin.
UEFA says it has lost confidence in FIFA leadership after investment plan
FIFA chief Gianni Infantino had proposed creating a $20 billion company to run the World Cup with private investors but drew backlash that grew every day since Tuesday's announcement.
Entertainment
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Vincent Pastore, famous for his role in "The Sopranos," dies at 80
Vincent Pastore played Salvatore "Big Pussy" Bonpensiero on all six seasons of "The Sopranos," which aired from 1999 to 2007.
8/1: CBS Saturday Morning
French wine region under fire threat, latest on migrants entering Spanish territory, plus all about sake.
GA-20, Charlie Musselwhite perform together
Grammy-winning harmonica virtuoso Charlie Musselwhite is a pioneer of the 60s Chicago blues scene. New England blues trio GA-20 is celebrated for their raucous sound and dynamic live performances. GA-20 and Charlie Musselwhite join forces for an electrifying blues collaboration, culminating in their new album "Blues Now!"
GA-20, Charlie Musselwhite perform together
Grammy-winning harmonica virtuoso Charlie Musselwhite is a pioneer of the 60s Chicago blues scene. New England blues trio GA-20 is celebrated for their raucous sound and dynamic live performances. GA-20 and Charlie Musselwhite join forces for an electrifying blues collaboration, culminating in their new album "Blues Now!"
GA-20 & Charlie Musselwhite play "Crazy Love"
Grammy-winning harmonica virtuoso Charlie Musselwhite is a pioneer of the 60s Chicago blues scene. New England blues trio GA-20 is celebrated for their raucous sound and dynamic live performances. GA-20 and Charlie Musselwhite join forces for an electrifying blues collaboration, culminating in their new album "Blues Now!"
Technology
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Technology
Anthropic claims its AI models went rogue
Anthropic claims its artificial intelligence models went rogue during testing and hacked into three other companies. Less than two weeks ago, OpenAI reported a similar incident for one of its models. Stephen Witt, author of "The Thinking Machine," joins to unpack the situation.
Trump blames Minnesota for water cyberattack
The U.S. government is investigating whether Iran is behind a cyberattack on water systems in seven states. In Minnesota alone, more than 30 community water systems were impacted. CBS News homeland security correspondent Nicole Sganga has the 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.
Families sue Meta, Snapchat, TikTok, YouTube over deaths of 4 teens
The families of four children who died by suicide allege that using social media led to depression, anxiety and other mental health problems.
Is Iran targeting the U.S. water supply?
Investigators are examining whether Iran was involved with a series of cyberattacks on water systems in Minnesota and other states. Nicole Sganga reports.
Science
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Rare footage of humpback whale birth captured on drone video
The footage is believed to be only the fourth complete humpback whale birth ever recorded on film anywhere in the world and the first-ever captured by drone.
Rare video shows humpback whale birth
A photographer operating a drone off the coast of Australia captured a humpback whale giving birth. It's believed to be the first time such a birth has been recorded by a drone.
How plants feel
Science shows us that, even though plants don't have brains, they seem to have a nervous system that responds to touch in remarkable ways. Robert Krulwich and puppeteer Barnaby Dixon explore the science of thigmomorphogenesis (the phenomenon of plants reacting to outside stimulae), a discussion that plants the seeds for a song.
Nearly 30 beluga whales sent to the U.S.
Nearly 30 beluga whales were sent to aquariums across the U.S. in a multinational emergency operation after their home aquarium in Canada shuttered. Jared Ochacher reports.
SpaceX launches first rocket since IPO
Elon Musk's aerospace company, SpaceX, launched its massive Starship rocket in its first test flight since the company went public. Since achieving the largest IPO in history, SpaceX's stock has dropped drastically. Mark Strassmann takes a look.
Crime
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Crime
FTC says ticket reseller violated laws
Last year, "CBS Saturday Morning" spoke with ticket reselling company Elite Events and Tickets about its methodology and practices. Now, the Federal Trade Commission is fining the company, saying it violated the Better Online Ticket Sales Act. Elite Events and Tickets neither admitted to nor denied the FTC's allegations.
Police release Nancy Guthrie ransom notes
It has been six months since Nancy Guthrie, the mother of "Today Show" co-host Savannah Guthrie, vanished from her Arizona home. Investigators have now released two ransom notes with "distinctive linguistic characteristics" and are asking for the public's help in identifying their writer.
Savannah Guthrie asks for answers about mom Nancy after notes released
Savannah Guthrie said she and her family have been "in agony and despair ever since" her mother Nancy's disappearance in February.
Notes released in Nancy Guthrie case
For the first time, the Pima County Sheriff's Office released a pair of emails allegedly sent by Nancy Guthrie's kidnapper, who said she had died shortly after she had been abducted. Tom Hanson reports.
Nancy Guthrie ransom notes released
Possible ransom notes released by the Pima County Sheriff's Department in the hopes of identifying Nancy Guthrie's kidnapper or kidnappers include specific details about Guthrie's white Apple Watch and allege that she died unexpectedly of a medical condition and "is buried in nature." CBS News' Anna Schecter breaks it down.
Space
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Russian Soyuz brings three home after 8 months at space station
The Soyuz MS-28 landing in Kazakhstan brought a 241-day stay in space to a successful conclusion.
SpaceX's Super Heavy-Starship blasts off on 13th test flight
An upgraded version of the world's most powerful rocket is key to landing NASA astronauts on the moon in the agency's Artemis program.
Meteorite that hit home contains "alien world chemistry," experts say
When scientists examined the preserved fragments of a meteorite that crashed in 2024, they found brine-like fluids and key molecules.
Russian Soyuz rocket launches fresh crew to space station
The new crew will replace three other Soyuz fliers wrapping up a 240-day stay aboard the International Space Station.
Astronomers discover sugar in space that's also found in raspberries
The sugar, called erythrulose, lurks in what's called the interstellar medium: thin clouds of gas and dust littered between stars.
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.
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.
Evidence in the Barbara Kendhammer case
Does the evidence show a cover-up, or was Todd Kendhammer wrongfully convicted for the murder of his wife?
Timeline: The disappearance of George Smith
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Latest CBS News Videos
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8/1: CBS Saturday Morning
French wine region under fire threat, latest on migrants entering Spanish territory, plus all about sake.
FTC says ticket reseller violated laws
Last year, "CBS Saturday Morning" spoke with ticket reselling company Elite Events and Tickets about its methodology and practices. Now, the Federal Trade Commission is fining the company, saying it violated the Better Online Ticket Sales Act. Elite Events and Tickets neither admitted to nor denied the FTC's allegations.
Police release Nancy Guthrie ransom notes
It has been six months since Nancy Guthrie, the mother of "Today Show" co-host Savannah Guthrie, vanished from her Arizona home. Investigators have now released two ransom notes with "distinctive linguistic characteristics" and are asking for the public's help in identifying their writer.
GA-20, Charlie Musselwhite perform together
Grammy-winning harmonica virtuoso Charlie Musselwhite is a pioneer of the 60s Chicago blues scene. New England blues trio GA-20 is celebrated for their raucous sound and dynamic live performances. GA-20 and Charlie Musselwhite join forces for an electrifying blues collaboration, culminating in their new album "Blues Now!"
GA-20, Charlie Musselwhite perform together
Grammy-winning harmonica virtuoso Charlie Musselwhite is a pioneer of the 60s Chicago blues scene. New England blues trio GA-20 is celebrated for their raucous sound and dynamic live performances. GA-20 and Charlie Musselwhite join forces for an electrifying blues collaboration, culminating in their new album "Blues Now!"