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.
Trump admin. touts its transparency. Yet few Iran war details have been shared.
The Trump administration is offering the public less information about the Iran war and its direction, even as the costs continue to mount.
Live
Trump calls off attack on Iran subject to peace deal being "rapidly" reached
President Trump announced Saturday night that he will cancel a pending attack on Iran after he indicated that a rough framework of a peace deal had been reached.
Exclusive
ICE detentions set Trump-era high in July, as immigration crackdown widens
Detentions by Immigration and Customs Enforcement set a monthly record high for the second Trump administration in July, internal agency data obtained by CBS News shows, as ICE widened its crackdown.
What's behind the $4B funding cut for California's high-speed rail?
Records reveal California twice missed deadlines to buy the trains at the center of a federal funding fight — then quietly dropped its lawsuit weeks after missing its new deadline.
Sen. Mark Kelly: Trump "has to try to figure out a way out of" Iran war
Democratic Sen. Mark Kelly also voiced concerns about the Pentagon's funding requests, calling the approach "irresponsible — and now they want a blank check."
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."
Several people killed in shooting at Idaho In-N-Out restaurant, officials say
Several people were killed in a shooting Saturday afternoon at an In-N-Out restaurant in Twin Falls, Idaho, local authorities said.
Fast-moving wildfires in Washington state prompt evacuations
There were three fires in the Spokane area: the Old Trails Fire, the Fairview Fire and the Meadowview Fire.
Spain's Ceuta grapples with aftermath of border surge
Dozens died, and the tiny enclave of Ceuta was thrown into chaos earlier this week after a rush of migrants entered from Morocco.
U.S.
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Rep. Turner says infrastructure should be "hardened" as U.S. probes water cyberattack
GOP Rep. Mike Turner of Ohio said critical infrastructure assets "need to be hardened" as investigators are probing whether Iranian hackers are behind malicious cyber activity that affected technology at water systems in U.S. states last week.
Exclusive
ICE detentions set Trump-era high in July, as immigration crackdown widens
Detentions by Immigration and Customs Enforcement set a monthly record high for the second Trump administration in July, internal agency data obtained by CBS News shows, as ICE widened its crackdown.
Sen. Mark Kelly: Trump "has to try to figure out a way out of" Iran war
Democratic Sen. Mark Kelly also voiced concerns about the Pentagon's funding requests, calling the approach "irresponsible — and now they want a blank check."
Fast-moving wildfires in Washington state prompt evacuations
There were three fires in the Spokane area: the Old Trails Fire, the Fairview Fire and the Meadowview Fire.
What's behind the $4B funding cut for California's high-speed rail?
Records reveal California twice missed deadlines to buy the trains at the center of a federal funding fight — then quietly dropped its lawsuit weeks after missing its new deadline.
MoneyWatch
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Flights canceled as WestJet flight attendants strike over pay dispute
WestJet canceled more than 300 flights as of early Sunday, snarling travel plans in Canada in the middle of a three-day weekend.
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.
Politics
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Transcript: Sen. Mark Kelly on "Face the Nation with Margaret Brennan," Aug. 2, 2026
The following is the transcript of an interview with Democratic Sen. Mark Kelly of Arizona that aired on "Face the Nation with Margaret Brennan" on Aug. 2, 2026.
Rep. Turner says infrastructure should be "hardened" as U.S. probes water cyberattack
GOP Rep. Mike Turner of Ohio said critical infrastructure assets "need to be hardened" as investigators are probing whether Iranian hackers are behind malicious cyber activity that affected technology at water systems in U.S. states last week.
Trump admin. touts its transparency. Yet few Iran war details have been shared.
The Trump administration is offering the public less information about the Iran war and its direction, even as the costs continue to mount.
Transcript: Joe and Heather Manchin on "Face the Nation with Margaret Brennan," Aug. 2, 2026
The following is the transcript of an interview with former Sen. Joe Manchin and his daughter, Americans Together CEO Heather Manchin, that aired on "Face the Nation with Margaret Brennan" on Aug. 2, 2026.
Transcript: Rep. Mike Turner on "Face the Nation with Margaret Brennan," Aug. 2, 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 Aug. 2, 2026.
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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Transcript: Sen. Mark Kelly on "Face the Nation with Margaret Brennan," Aug. 2, 2026
The following is the transcript of an interview with Democratic Sen. Mark Kelly of Arizona that aired on "Face the Nation with Margaret Brennan" on Aug. 2, 2026.
Firefighting helicopters collide in Greece amid European wildfire crisis
The aircraft were Bell helicopters operating over the Psatha area west of Athens, each with a two-person crew.
Trump admin. touts its transparency. Yet few Iran war details have been shared.
The Trump administration is offering the public less information about the Iran war and its direction, even as the costs continue to mount.
Transcript: Rep. Mike Turner on "Face the Nation with Margaret Brennan," Aug. 2, 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 Aug. 2, 2026.
Spain's Ceuta grapples with aftermath of border surge
Dozens died, and the tiny enclave of Ceuta was thrown into chaos earlier this week after a rush of migrants entered from Morocco.
Entertainment
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Entertainment
Scarlett Johansson, skin care mogul
Actress Scarlett Johansson has played many roles in her career – and now, the Tony-winner and two-time Oscar-nominee has taken on another: launching her new line of products, called The Outset, designed for people with sensitive skin (like hers). She talks with correspondent Tracy Smith about her skin struggles, and how husband Colin Jost has been a "guinea pig" for her products. (Originally broadcast April 12, 2026.)
Art made of money
Philadelphia-based artist Stacey Lee Webber has invested small coins and bills into her sculptures and jewelry – art made entirely of money. Correspondent Nancy Giles talks with the money-making artist whose creations can cost a pretty penny. (Originally broadcast April 12, 2026.)
8/2: Sunday Morning
Jane Pauley hosts our annual "Money Issue." Featured: Obstacles to home ownership; fighting health insurance denials; Chinese EVs; opposition to AI data centers; American Girl dolls; skin care mogul Scarlett Johansson; roller coasters; the popularity of Bingo!; and is your phone eavesdropping on you?
Summer movies are experiencing a renaissance
The summer blockbuster may be having its own blockbuster comeback. After years of streaming dominance, audiences are again packing theaters. Adam Yamaguchi has more.
A new high for roller coasters
Correspondent Lee Cowan reports on how the ups-and-downs of today's amusement park industry are being ridden via new technologies in roller coaster design, including the New Texas Giant (a hybrid wooden-and-steel roller coaster), and the Tormenta Rampaging Run (a "giga dive" coaster), at Six Flags Over Texas. (Originally broadcast April 12, 2026.)
Technology
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Technology
CEO of AI firm Hugging Face on OpenAI hack
ChatGPT maker OpenAI revealed that its technology hacked into another AI company on its own during internal testing. Hugging Face CEO Clement Delangue, whose company was hacked, described the "very weird and unprecedented" incident in an interview on "Face the Nation with Margaret Brennan" -- and offered suggestions on how future incidents could be prevented.
Resistance grows nationwide against AI data center boom
To fuel their artificial intelligence initiatives, tech companies are building massive numbers of AI data centers, with more than 4,000 in operation across the country. But some communities, wary of the environmental and financial implications of such facilities in their backyards, are fighting back. "Sunday Morning" national correspondent Robert Costa examines the drive to construct AI data centers, and the debate between opponents and AI advocates. (Originally broadcast April 12, 2026.)
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.
Does your phone eavesdrop on you?
When ads pop up on your phone for products after you've happened to mention them, is it an indication that advertisers are eavesdropping on you? Correspondent David Pogue checks out the facts about highly-targeted advertising, and why it sometimes gets weirdly specific. (Originally broadcast April 12, 2026.)
Chinese EVs pull into the lead
Last year the Chinese car company BYD (which stands for Build Your Dreams) overtook Tesla as the world's top seller of fully electric vehicles, despite the U.S. market being virtually closed to them. Correspondent Seth Doane looks at how China's long-term investments in innovation are paying off in EVs – and how protective tariffs may end up hurting American automakers down the road. (Originally broadcast April 12, 2026.)
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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Bloody, bare footprints lead to decadeslong search for woman's killer
In 1993, Jeanie Childs was found stabbed more than 60 times in her Minneapolis apartment. Bloody footprints and unknown DNA left investigators without answers until a 2015 cold-case review and public DNA database finally pointed to a suspect.
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.
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.
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.
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.
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
Face the Nation: Delangue, Manchin
Missed the second half of the show? Hugging Face CEO Clement Delangue, independent former Sen. Joe Manchin and his daughter Heather Manchin join "Face the Nation."
Full Interview: Hugging Face CEO Clem Delangue
Watch Margaret Brennan's full interview Hugging Face Co-Founder and CEO Clem Delangue, a portion of which aired on July 19, 2026, about the recent hack of their systems by an autonomous AI agent from an OpenAI training model.
Joe and Heather Manchin on push to elect independents
On "Face the Nation with Margaret Brennan," former Sen. Joe Manchin and his daugher, Heather, discussed their initiative to help more independents get elected to office. They also addressed whether they could ever support a self-described socialist candidate.
CEO of AI firm Hugging Face on OpenAI hack
ChatGPT maker OpenAI revealed that its technology hacked into another AI company on its own during internal testing. Hugging Face CEO Clement Delangue, whose company was hacked, described the "very weird and unprecedented" incident in an interview on "Face the Nation with Margaret Brennan" -- and offered suggestions on how future incidents could be prevented.
GOP Rep. Turner presses for "more information" on Iran
Republican Rep. Mike Turner said on "Face the Nation with Margaret Brennan" that "I don't think anybody's satisfied with the level of information that we're receiving" on the Iran war, while backing the Trump administration's strategy of pressing Iran to the negotiating table on nuclear weapons.