Fed lowers rates by 0.50 percentage points, its first cut since 2020
The Fed's decision will lower borrowing costs from a 23-year high as the central bank pivots to shoring up economic growth.
Inflation
Why the Fed cut rates for first time in 4 years
The Federal Reserve cut interest rates by half a percentage point Wednesday after introducing several rate hikes throughout the pandemic. Martin Baccardax, chief markets correspondent for TheStreet, joins CBS News to explain the Fed's move.
Federal Reserve enacts first rate cut since 2020
The Federal Reserve lowered interest rates by half a percentage point Wednesday, more than expected. It's the first rate cut since the pandemic in 2020, and the largest cut since the 2008 financial crisis. Jo Ling Kent has more on what the move means.
Trump says inflation has cost households $28,000. Is that true?
Economists told CBS News the calculation is incomplete, since average household incomes have also risen over that time period.
Fed cuts rates in final stretch of 2024 race
The Federal Reserve lowered interest rates by half a percentage point on Wednesday, its first cut in more than four years. The decision came on a busy day for the Trump and Harris campaigns. CBS News' Jo Ling Kent, Nikole Killion and Aaron Navarro have the latest.
Biden economic adviser unpacks Fed rate cut
The Federal Reserve reduced its benchmark interest rate for the first time in more than four years on Wednesday. The move will directly impact the finances of millions of Americans. Jared Bernstein, chair of the White House Council of Economic Advisers, joins "America Decides" to discuss.
Trump and Harris' views on inflation — their records and what they've said
Inflation is a top issue for voters heading into 2024 presidential election. Here's what we know about Harris and Trump's views on combating high prices for Americans.
Map shows average home insurance price in your state as risks rise
Home insurance premiums have at times risen 40% faster than inflation. Extreme weather events are likely to make the expense worse.
U.S. inflation drops to lowest level in years
Inflation cooled further in August, falling to a three-year low and cementing views that the Federal Reserve will soon start cutting interest rates. Martin Baccardax, senior editor and chief markets correspondent for the Street, joins to discuss.
Inflation eases ahead of expected rate cuts
The inflation rate dropped to 2.5% in August, according to the latest data from the Labor Department, a further sign that the Federal Reserve will enact interest rate cuts when it meets next week. Jo Ling Kent has details.
High prices despite cooling inflation
The Federal Reserve could cut interest rates during its Sept. 18 meeting after months of no change. CBS News business analyst Jill Schlesinger breaks down why consumer prices remain high despite inflation dropping to its lowest level since early 2021.
August CPI report shows 0.2% inflation rise
The Consumer Price Index rose 0.2% in August, the same as July, putting the 12-month inflation rate at 2.5%. CBS News contributor Javier David has a look at the numbers and what they might mean for interest rates.
Here are 3 key economic issues to watch for during the Harris-Trump debate
About 8 in 10 adults tell CBS News the economy is a major factor in their vote, outpacing abortion and climate change.
Debate: Harris, Trump on economy, immigration
The economy and immigration are top of mind for voters heading into Tuesday night's presidential debate. CBS News' Jo Ling Kent and Camilo Montoya-Galvez have more on how Vice President Kamala Harris and former President Donald Trump are addressing each issue.
American household incomes rebounded in 2023 to pre-pandemic levels
New Census data finds the typical household earned $80,610 last year, a 4% jump from 2022 and the first significant boost since 2019.
Harris, Trump virtually tied in battlegrounds
The latest CBS News polling released over the weekend shows Vice President Kamala Harris and former President Donald Trump remain in a virtual tie in the battleground states of Michigan, Wisconsin and Pennsylvania ahead of Tuesday's debate. CBS News executive director of elections and surveys Anthony Salvanto joins to dig through the numbers.
Jobs report falls short of expectations
The U.S. added 142,000 jobs in August, the Labor Department reported Friday, which was below forecasts, although the unemployment rate ticked down to 4.2%. Economists still overwhelmingly anticipate an interest rate cut from the Federal Reserve in mid-September. Jo Ling Kent has details.
Will the Federal Reserve cut rates?
The Federal Reserve is expected to cut interest rates in September as inflation appears to cool. CBS News contributor Javier E. David has more on what to expect.
Food costs remain high amid holiday BBQs
Food shoppers are feeling the pinch this Labor Day weekend as they gather around the grill. While inflation has fallen below 3% for the first time since 2021, high food prices remain a problem. Janet Shamlian digs into the issue.
Subway joins the value meal battle with a new price on its footlongs
The deal, available through Subway's app and website for a limited time, is aimed at inflation-weary consumers.
The Climate Election: Grocery inflation explained
$15 for a pound of coffee? Groceries have been particularly expensive lately with inflation helping drive up the cost of nutritional staples 25% since 2019. But there's a root problem with the surge in grocery costs that's attacking food right at the source. CBS Los Angeles meteorologist Marina Jurica explains what to know about the rising costs of groceries as we get closer to Election Day and what Vice President Kamala Harris and former President Donald Trump have planned to address it.
Here's how economists rate Kamala Harris' pledge to ban price gouging
Harris is vowing to pass the first federal ban on price gouging, a pledge that comes after grocery prices have surged 25% since 2020.
Car insurance rates could jump 50% in 3 states. Here's where.
Drivers could continue to see higher car insurance rates in 2024, with the average U.S. rate projected to jump 22% this year.
Economy takes center stage in presidential race
Former President Donald Trump has focused his latest line of attacks against his rival on the economy, which comes after Vice President Kamala Harris unveiled her first round of economic policy proposals. Natalie Brand has more.
Harris lays out her economic vision
Vice President Kamala Harris released her first major economic policy proposal since entering the presidential race. The plan, aimed at middle-class voters, includes money for new homebuyers, expansion of the Child Tax Credit and government action on grocery prices. Nancy Cordes reports from Raleigh, North Carolina.
Sen. Lindsey Graham dies after "brief and sudden illness"
President Trump paid tribute to the late senator, who was reportedly scheduled to do an interview on Sunday.
Live
U.S. conducts another round of retaliatory strikes on Iran, Pentagon says
U.S. forces conducted their third round of strikes on Iran this week, this time in retaliation for an attack on a commercial ship in the Strait of Hormuz, the Pentagon said.
Margaret Brennan: I spoke with Lindsey Graham a day before he died
Fierce Ukraine supporter Lindsey Graham passed away Saturday on the heels of his tenth trip to the warzone, and at a key moment for one of the Republican senator's proudest accomplishments.
How white supremacists staged the only successful coup in U.S. history
In 1898, Wilmington, N.C., was prosperous and integrated. But white supremacists took back control of the city's multi-racial government at gunpoint, and killed scores of Black residents - a little-known story retold in Lauren Collins' "They Stole a City."
Ukraine's prime minister resigns; Zelenskyy shifts several government roles
Ukrainian Prime Minister Yulia Svyrydenko has stepped down as President Volodymyr Zelenskyy announced fresh changes to Ukraine's government.
New York Times journalists issued subpoenas over Air Force One reporting
The subpoenas were issued after the New York Times reported on alleged security concerns with the new Qatari-gifted Air Force One.
High energy costs from Iran war heighten pressure on struggling farmers
As the agriculture industry in Louisiana contends with major energy cost hikes brought on by the Iran war, some farmers are unsure if their businesses will survive.
New Jersey works to destroy firefighting foam laced with cancer-linked PFAS
New Jersey is one of more than a dozen states that are working to collect, remove and destroy all of their aqueous film-forming foam.
Sen. Scott on Lindsey Graham's role in "building bridges," including with Trump
Republican Sen. Tim Scott of South Carolina remembered Sen. Lindsey Graham as a "powerful leader" following his sudden death, while emphasizing Graham's role in "building bridges."
U.S.
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Turner says he hopes Senate will pass Russia sanctions as part of Lindsey Graham's legacy
GOP Rep. Mike Turner of Ohio said that he's hopeful the Senate will soon pass a Russia sanctions bill as "one of the legacies" of Sen. Lindsey Graham, who died suddenly Saturday.
40 million under alerts as heat dome peaks across western U.S.
Heat alerts were issued for millions across parts of the western U.S. Sunday as an unusually prolonged heat dome reached its peak.
What is the process for filling Lindsey Graham's vacancy in the Senate?
Sen. Lindsey Graham was running for reelection in November when he died suddenly on Saturday.
Sen. Scott on Lindsey Graham's role in "building bridges," including with Trump
Republican Sen. Tim Scott of South Carolina remembered Sen. Lindsey Graham as a "powerful leader" following his sudden death, while emphasizing Graham's role in "building bridges."
Trump's monumental reimagining of Washington, D.C.
President Trump's demolition, construction and renovation efforts have triggered a firestorm of lawsuits, as critics seek to block his plans to remake our nation's capital.
MoneyWatch
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High energy costs from Iran war heighten pressure on struggling farmers
As the agriculture industry in Louisiana contends with major energy cost hikes brought on by the Iran war, some farmers are unsure if their businesses will survive.
Bipartisan housing bill becomes law after Trump refuses to sign it
A landmark housing bill automatically became law overnight after President Trump declined to sign it.
Apple sues OpenAI, accusing ChatGPT maker of stealing trade secrets
Apple alleges that OpenAI and two of its employees stole trade secrets and engaged in a "pattern of misconduct."
Household staff can earn up to $300,000 working for America's rich
Good help is hard — and expensive — to find, according to a recruiting firm for private chefs, chauffeurs and other household workers.
Gas prices start climbing again as U.S.-Iran tensions flare
Prices at the pump sank following a June ceasefire. But renewed conflict in the Middle East and other factors are driving fuel costs back up.
Politics
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Transcript: Rep. Mike Turner on "Face the Nation with Margaret Brennan," July 12, 2026
The following is the transcript of an interview with Republican Rep. Mike Turner of Ohio that aired on "Face the Nation with Margaret Brennan" on July 12, 2026.
Transcript: Rahm Emanuel on "Face the Nation with Margaret Brennan," July 12, 2026
The following is the transcript of an interview with former White House chief of staff and Chicago Mayor Rahm Emanuel that aired on "Face the Nation with Margaret Brennan" on July 12, 2026.
Transcript: Michael Leiter on "Face the Nation with Margaret Brennan," July 12, 2026
The following is the transcript of an interview with Israeli Ambassador to the U.S. Michael Leiter that aired on "Face the Nation with Margaret Brennan" on July 12, 2026.
Turner says he hopes Senate will pass Russia sanctions as part of Lindsey Graham's legacy
GOP Rep. Mike Turner of Ohio said that he's hopeful the Senate will soon pass a Russia sanctions bill as "one of the legacies" of Sen. Lindsey Graham, who died suddenly Saturday.
Transcript: Frank McKenzie on "Face the Nation with Margaret Brennan," July 12, 2026
The following is the transcript of an interview with retired Gen. Frank McKenzie that aired on "Face the Nation with Margaret Brennan" on July 12, 2026.
HealthWatch
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New Jersey works to destroy firefighting foam laced with cancer-linked PFAS
New Jersey is one of more than a dozen states that are working to collect, remove and destroy all of their aqueous film-forming foam.
Departments getting rid of firefighting foam
Fire departments across the U.S. are changing how they extinguish fires. For decades, they used foam that contained so-called "forever chemicals" that are now linked to cancer. More than a dozen states are now working to collect, remove and destroy all of it. Mark Strassmann has more.
U.S. citizen working in Congo tests positive for Ebola, CDC says
The Africa Centres for Disease Control and Prevention said the outbreak is the fastest-growing Ebola outbreak recorded on the continent.
Pregnant mom diagnosed with Stage IV cancer after symptoms were dismissed
Jenney Bitner feared she wouldn't get to see her children grow up after a tumor in her brain revealed she had Stage IV melanoma.
Michigan's cyclosporiasis outbreak grows to more than 1,500 cases
Michigan health officials say the state's cyclosporiasis outbreak has grown to more than 1,500 cases.
World
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Transcript: Rep. Mike Turner on "Face the Nation with Margaret Brennan," July 12, 2026
The following is the transcript of an interview with Republican Rep. Mike Turner of Ohio that aired on "Face the Nation with Margaret Brennan" on July 12, 2026.
Ukraine's prime minister resigns; Zelenskyy shifts several government roles
Ukrainian Prime Minister Yulia Svyrydenko has stepped down as President Volodymyr Zelenskyy announced fresh changes to Ukraine's government.
Transcript: Rahm Emanuel on "Face the Nation with Margaret Brennan," July 12, 2026
The following is the transcript of an interview with former White House chief of staff and Chicago Mayor Rahm Emanuel that aired on "Face the Nation with Margaret Brennan" on July 12, 2026.
Transcript: Michael Leiter on "Face the Nation with Margaret Brennan," July 12, 2026
The following is the transcript of an interview with Israeli Ambassador to the U.S. Michael Leiter that aired on "Face the Nation with Margaret Brennan" on July 12, 2026.
Transcript: Frank McKenzie on "Face the Nation with Margaret Brennan," July 12, 2026
The following is the transcript of an interview with retired Gen. Frank McKenzie that aired on "Face the Nation with Margaret Brennan" on July 12, 2026.
Entertainment
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Entertainment
7/12: Sunday Morning
Hosted by Tracy Smith. Featured: The only successful coup in U.S. history; Behind the scenes of "The Pitt"; Trump's monumental reimagining of Washington, D.C.; singer-songwriter Gracie Abrams; "Take Me Home, Country Roads"; and a Tuscany tradition: wine barrel races.
Milepost: David Attenborough
This week, British documentarian Sir David Attenborough, who turned 100 years old in May, broke the record for oldest nominee for a Primetime Emmy Award, earning two nominations this year.
Grace notes: Art as a reverie of gentle sounds
French artist and composer Céleste Boursier-Mougenot's "Clinamen," at the Park Avenue Armory in New York City, is a mesmerizing installation in which porcelain bowls floating in giant basins of water collide, producing chiming sounds that reverberate in the 55,000-square-foot hall, to foster a state of grace. Tracy Smith reports.
Behind the scenes of "The Pitt"
The Emmy-winning HBO Max drama "The Pitt" immerses viewers in the hour-by-hour struggles faced by the overworked-yet-superhuman emergency room staff at the fictional Pittsburgh Trauma Medical Center. CBS News chief medical correspondent Dr. Jon LaPook visits the series' hyper-realistic set at Warner Brothers Studios in Burbank, Calif. (where cast members undergo a two-week medical boot camp), and talks with star, writer, director and executive producer Noah Wylie about why the former "ER" actor returned to the medical drama genre. (The series just received 25 Emmy nominations, including Outstanding Drama Series, the most of any program.) [Originally broadcast Jan. 4, 2026.]
Passage: In memoriam
"Sunday Morning" remembers some of the notable figures who left us this week, including "Mary Hartman, Mary Hartman" actress Louise Lasser, and singer Bonnie Tyler, best known for "Total Eclipse of the Heart."
Technology
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Apple sues OpenAI, accusing ChatGPT maker of stealing trade secrets
Apple alleges that OpenAI and two of its employees stole trade secrets and engaged in a "pattern of misconduct."
AI slop floods social media, report says
A new report from AI detector Pangram found that AI-generated content is flooding socials like X and Reddit, with LinkedIn accounting for nearly two-thirds of all AI content detected. Pangram CEO and co-founder Max Spero joins CBS News to discuss his findings.
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.
MSG tracked celebrities, WIRED reports
A major database breach at James Dolan's Madison Square Garden arena revealed an apparent internal list tracking nearly 40,000 celebrities, according to a new report from WIRED. The report alleges that surveillance labels included "LGBTQIA," "DO NOT HOST," and evaluated individuals on a "risk" level. MSG claims the report is inaccurate. WIRED contributing editor Noah Shachtman joins "CBS News 24/7" to discuss his reporting.
Breaking down the Texas app store age law
Earlier this week, the Supreme Court said it would allow Texas to enforce a law requiring app stores to verify users' ages while the issue plays out in the lower courts. CBS News legal contributor Jessica Levinson breaks down the constitutional question.
Science
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Science
Disclosure Foundation head on new UFO files
The Pentagon on Friday released a new batch of UFO files, spanning 19 videos and more. Jordan Flowers, executive director of the Disclosure Foundation, joins CBS News to discuss.
Watch: Pentagon releases 19 new UFO videos
The Defense Department released a fourth batch of UFO files on Friday, nearly one month after its third drop. These are all of the videos in the latest tranche, plus analysis from astrophysicist Avi Loeb.
2,000-year-old gold rings and human bones found by archaeologists
Archaeologists have discovered eight human skeletons, bronze and gold jewelry and other artifacts indicating a ceremonial burial of wealthy people.
Telescope spots most distant quasars ever discovered
Quasars — the brightest objects in the universe — are powered by supermassive black holes at the heart of early galaxies.
The American innovation that made millions of others possible
From the lightbulb to the airplane, to medical breakthroughs and the internet age, the past 250 years have been defined by America's intrepid intellect.
Crime
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Kansas woman convicted of double murder after three trials
Mike Sisco and his girlfriend Karen Harkness were gunned down in her Topeka, Kansas, home in 2002. Authorities believed it was a crime of passion. Sisco's daughter set out to help prove it was her mother, Dana Chandler, who was responsible.
Apalachee High School shooting suspect set to change plea, documents show
Colt Gray is scheduled to appear in Barrow County Superior Court on July 24 for a plea hearing, court documents show.
Nolan Wells' parents speak out
Teen football player Nolan Wells was found dead on a Mississippi island days after he vanished during a July Fourth outing. Wells' parents are searching for answers, saying that they don't believe their son would have stayed behind on the island by choice.
Takeaways from weeklong Tyler Robinson hearing
The weeklong pre-trial hearing for the man accused of killing conservative activist Charlie Kirk wrapped up on Friday with the defense calling one final witness to the stand. CBS News legal contributor Jessica Levinson joins with analysis.
Indictments in White House UFC attack plot
Eight people have each been charged with conspiracy counts over a planned attack at the UFC event that was held at the White House in June. CBS News' Jake Rosen reports.
Space
More Space
Telescope spots most distant quasars ever discovered
Quasars — the brightest objects in the universe — are powered by supermassive black holes at the heart of early galaxies.
Mission launched to rescue a falling space telescope
Katalyst Space's LINK spacecraft is designed to capture and boost NASA's Swift observatory back to a safe altitude.
NASA astronauts operate on space station's broken robot arm
The orbital surgery on the International Space Station returned the Canadian-built robot arm to full health after its "wrist" joint failed last month.
NASA prepares to launch rescue to save telescope from falling to Earth
The $30 million salvage operation gets underway as soon as this week with the planned launch of a robotic lifesaver.
Astronomers find 2 gigantic planets lighter than cotton candy
The featherweight pair — orbiting a star 1,110 light-years away — are the biggest exoplanets found to have less density than cotton candy.
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.
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.
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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Latest CBS News Videos
Sen. Lindsey Graham's final Kyiv visit
Sen. Lindsey Graham was in Kyiv, Ukraine, one day before his death. CBS News' Margaret Brennan recalls her final conversation with Sen. Graham on Friday, during which he touted progress on Russian oil sanctions.
Nancy Mace on Sen. Lindsey Graham's death
South Carolina Rep. Nancy Mace joined CBS News 24/7 to reflect on Sen. Lindsey Graham's political impact after his sudden death, saying she and other members of Congress are "in a state of shock."
Trump on Sen. Lindsey Graham
President Trump said Sunday that he spoke with Sen. Lindsey Graham shortly before the longtime Republican senator's death. CBS News' Olivia Rinaldi has the latest.
Face the Nation: Emanuel, Turner, McKenzie
Missed the second half of the show? Rahm Emanuel, Rep. Mike Turner and retired Gen. Frank McKenzie join.
Lindsey Graham's role in Russia sanctiosn bill
One day before Sen. Lindsey Graham's death Saturday, he told "Face the Nation" moderator Margaret Brennan he was excited about new progress on a long-sought bipartisan bill to boost sanctions on Russia by targeting buyers of its oil.