Inflation cooled to 4% in May, its slowest pace in 2 years
Even so, the latest "report contains plenty of pain, especially for lower-income Americans," said one economist.
Inflation
Inflation cools again in May
Inflation has continued to ease, according to new Consumer Price Index data released by the U.S. Bureau of Labor Statistics on Tuesday morning. Scott Wren, a senior global market strategist for Wells Fargo Investment Institute, joins CBS News with more.
How climate change is raising the cost of food
Hotter, drier weather is already wreaking havoc on European crops, and is predicted to boost food prices in the U.S.
UK on track for record inflation
The U.K. Is predicted to have the third-highest inflation rate in the world this year. John Quelch, former dean of the Miami Herbert Business School at the University of Miami, joined CBS News to talk about the British economy.
Unemployment aid applications jump to highest level since October 2021
Some 261,000 people applied for jobless aid last week, a 10% increase from the week before.
Remember that looming recession? Not happening, some economists say
"People have been using the wrong R-word to describe the economy," one economist said. "It's resilience — not recession."
Saudi Arabia cutting oil output in move that could raise gas prices
The Saudi cut of 1 million barrels per day comes as the other OPEC+ producers agreed to extend earlier production cuts through next year.
Mild recession possible as job numbers stay hot
The U.S. averted disaster by raising the debt ceiling, but a mild recession is still possible even as job numbers remain hot, according to the head of Bank of America. Mark Strassmann breaks down how the U.S. economy is doing.
Electricity bills expected to go up
While prices of many goods and services may be cheaper this summer when compared to last year, don't expect to see any dips in your power bills. Analysts say average electricity prices are expected to be at least 2% higher. Associate managing editor for CBS MoneyWatch Irina Ivanova has more.
Bipartisan deal reached to raise the debt limit
After President Biden brokered a deal with Speaker McCarthy to raise the debt ceiling by $4 trillion, they spent the weekend trying to secure enough votes to pass the bill by the June 5 deadline. Scott MacFarlane reports.
Biden optimistic Democrats will back debt plan
President Biden and House Speaker McCarthy both expressed optimism that they would be able to get their respective parties on board for the debt ceiling plan they negotiated. Natalie Brand has the latest.
What happens if lawmakers don't raise debt limit
A tentative agreement has been reached on a deal that would raise the debt limit and avert a government default. Scott MacFarlane takes a look at the backup plan in case lawmakers don't pass the bill.
5/25: CBS News Mornings
Florida Gov. Ron DeSantis launches 2024 presidential campaign; high prices are hitting many Memorial Day travelers.
Paying the price of vacation inflation
As millions gear up to travel this Memorial Day, the price of travel is hitting many in the wallet. Kris Van Cleave looks at what is driving vacation inflation.
5/16: America Decides
President Biden, congressional leaders hold second debt ceiling meeting; How Pennsylvania races could set the stage for party control shifts.
5/23: America Decides
Debt solution not yet set as deadline approaches; Scott widens GOP 2024, is DeSantis or Suarez next?
Washington leaders work to prevent debt default
The White House and Republican congressional leaders are continuing to negotiate in an effort to prevent an unprecedented debt default, which could happen as soon as next week. House Democrats have signed a petition to raise the debt ceiling.
McCarthy, Biden still far apart in debt talks
House Speaker McCarthy said Tuesday that he and President Biden are "nowhere close" to a deal on raising the debt limit. Negotiators continue to meet as the default deadline approaches. Nikole Killion has more.
Biden, McCarthy meet on debt ceiling
President Biden and House Speaker Kevin McCarthy met about the debt ceiling at the White House less than two weeks before the default deadline. CBS News senior White House and political correspondent Ed O'Keefe and CBS News congressional correspondent Nikole Killion report.
Inflation puts Americans in financial strain
A new Gallup poll finds 61%, or three out of five Americans, are suffering financial strain as a result of rising prices. Nearly half of those polled described the hardship as moderate. But 15% say the price increases have severely affected their ability to maintain their standard of living. Dana Peterson, the chief economist for the business research organization The Conference Board, joined CBS News with more.
Still no deal on debt limit
President Biden and congressional leaders met again Tuesday, but still have not reached a deal on raising the debt limit. Treasury Secretary Janet Yellen warns the U.S. may not be able to pay its bills as early as June 1. Ed O'Keefe reports.
Retail earnings show mixed results
Stocks closed in the green Wednesday, as investors react to the debt ceiling negotiations and new earnings data. Wall Street Journal markets reporter Hannah Miao joined CBS to explain what the information means for investors and consumers.
The class of 2023 is entering the strongest job market in 70 years
With the youth unemployment rate at a 70-year low, this year's crop of new graduates is likely to have an easier time getting hired.
Consumer debt passes $17 trillion
Stocks closed relatively flat as investors reacted to new consumer debt and mortgage data. Sanders Morris Harris chairman George Ball spoke with CBS News about what the numbers mean for investors and the economy.
Biden announces nominees to fill out the U.S. Federal Reserve
President Biden is hoping to stack the Central Bank with its top governors as it continues working to stem inflation.
Trump "wasn't worried" during White House Correspondents' Dinner
President Trump details his experience at the White House Correspondents' Dinner, where a gunman charged toward the ballroom. He says he wasn't worried, and praised the actions of law enforcement.
What's in the "manifesto" of the White House Correspondents' Dinner shooting suspect
Cole Allen, 31, sent an email to family members shortly before the annual press gala, officials told CBS News.
Weijia Jiang: I was on stage last night with the president. This is what I saw.
CBS News senior White House correspondent Weijia Jiang was sitting next to President Trump at the White House Correspondents' Dinner when the chaos unfolded.
Live
New details emerge in White House Correspondents' Dinner shooting
President Trump was safely evacuated from the White House Correspondents' Association Dinner Saturday night after shots were fired outside the ballroom of the Washington Hilton Hotel.
Live
Iran's foreign minister returns to Pakistan after U.S. envoys' trip canceled
Iranian Foreign Minister Abbas Araghchi returned to Islamabad on Sunday, where he is expected to participate in talks focused on ending the war with the U.S., Iranian state media reported.
What we know about the suspect in shooting at White House Correspondents' Dinner
The suspect was identified to CBS News by law enforcement sources as 31-year-old Cole Allen of Torrance, California.
Tillis says he's ready to move forward with Warsh's nomination for Fed chair
U.S. Attorney Jeanine Pirro said Friday her office is dropping its criminal investigation into Fed Chairman Jerome Powell and the $2.5 billion renovation of the central bank's headquarters.
Trump says he "wasn't making it that easy" for Secret Service during shooting
In an interview with "60 Minutes," President Trump described the moment he was rushed out of the White House Correspondents' Dinner after a gunman charged a security checkpoint.
5 injured in shooting near Indiana University following Little 500 races
Police said the shooting occurred after a fight outside Five Guys. The victims were women between the ages of 17 to 22 years old.
U.S.
More U.S.
Ben Sasse on Senate's "smack-down nonsense" and his wish for America
Former Sen. Ben Sasse, who was diagnosed with pancreatic cancer late last year, spoke to CBS News about why Congress is dysfunctional, the promises and risks of AI and his wish for the country.
5 injured in shooting near Indiana University following Little 500 races
Police said the shooting occurred after a fight outside Five Guys. The victims were women between the ages of 17 to 22 years old.
Full transcript of "Face the Nation with Margaret Brennan," April 26, 2026
On this "Face the Nation with Margaret Brennan" broadcast, acting Attorney General Todd Blanche and Chevron CEO Mike Wirth join Margaret Brennan.
Weijia Jiang: I was on stage last night with the president. This is what I saw.
CBS News senior White House correspondent Weijia Jiang was sitting next to President Trump at the White House Correspondents' Dinner when the chaos unfolded.
What's in the "manifesto" of the White House Correspondents' Dinner shooting suspect
Cole Allen, 31, sent an email to family members shortly before the annual press gala, officials told CBS News.
MoneyWatch
More MoneyWatch
Tillis says he's ready to move forward with Warsh's nomination for Fed chair
U.S. Attorney Jeanine Pirro said Friday her office is dropping its criminal investigation into Fed Chairman Jerome Powell and the $2.5 billion renovation of the central bank's headquarters.
Naval escorts will likely be needed when Strait of Hormuz reopens, Chevron CEO says
Commercial vessels face risks from mines and threats from land, Chevron's chief executive Mike Wirth said in an interview with "Face the Nation" moderator Margaret Brennan.
The Iran war's economic hit could linger through 2026, economists say
Economists say Americans should expect elevated prices at the pump and rising grocery costs in the months to come.
Trump extends Jones Act waiver for another 90 days
The waiver lets international ships carry goods between U.S. ports and is aimed at lowering energy prices.
Trader Joe's customers sue over coffee's caffeine levels
Consumers allege that Trader Joe's improperly advertised a coffee product as fully caffeinated when it was not.
Politics
More Politics
Ben Sasse on Senate's "smack-down nonsense" and his wish for America
Former Sen. Ben Sasse, who was diagnosed with pancreatic cancer late last year, spoke to CBS News about why Congress is dysfunctional, the promises and risks of AI and his wish for the country.
Full transcript of "Face the Nation with Margaret Brennan," April 26, 2026
On this "Face the Nation with Margaret Brennan" broadcast, acting Attorney General Todd Blanche and Chevron CEO Mike Wirth join Margaret Brennan.
Tillis says he's ready to move forward with Warsh's nomination for Fed chair
U.S. Attorney Jeanine Pirro said Friday her office is dropping its criminal investigation into Fed Chairman Jerome Powell and the $2.5 billion renovation of the central bank's headquarters.
Transcript: Rep. Jamie Raskin on "Face the Nation with Margaret Brennan," April 26, 2026
The following is the transcript of the interview with Rep. Jamie Raskin, Democrat of Maryland, that aired on "Face the Nation with Margaret Brennan" on April 26, 2026.
Transcript: Sir Christian Turner, U.K. ambassador to the U.S., on "Face the Nation with Margaret Brennan," April 26, 2026
The following is the transcript of the interview with Sir Christian Turner, U.K. ambassador to the U.S., that aired on "Face the Nation with Margaret Brennan" on April 26, 2026.
HealthWatch
More HealthWatch
A 13-year-old's kidney was failing. Then a stranger stepped in.
Tim Fitzpatrick, a father of a chronically ill child, saw the story of a boy in need of a new kidney and felt compelled to help.
Ben Sasse is on extended time. He credits "providence, prayer and a miracle drug."
The former U.S. senator from Nebraska opened up about his terminal diagnosis, his family and the state of American politics in a "Things That Matter" town hall.
Exclusive
Johnson & Johnson to launch on TrumpRx with 4 of its prescription drugs
Drug-making giant Johnson & Johnson will officially start marketing four of its medications on the Trump administration's TrumpRx website on Friday, CBS News exclusively learned.
Medigap premiums leap, and consumers have few alternatives
Millions of people rely on the supplemental insurance to offset the deductibles, copayments, and other costs faced by enrollees in the traditional Medicare program.
Food stamp work rules don't increase employment, researchers say
Work requirements will encourage people who are able to work to seek and maintain jobs, proponents say. But researchers haven't found that they lower the unemployment rate.
World
More World
At least 16 dead in strikes across Ukraine and Russia on Chernobyl anniversary
Strikes across Ukraine, Russian-occupied territory and Russia killed at least 16 people, authorities said, as the 40th anniversary of the Chernobyl nuclear disaster prompted fresh warnings about the risks posed by attacks near the plant.
Transcript: Rep. Jamie Raskin on "Face the Nation with Margaret Brennan," April 26, 2026
The following is the transcript of the interview with Rep. Jamie Raskin, Democrat of Maryland, that aired on "Face the Nation with Margaret Brennan" on April 26, 2026.
Transcript: Sir Christian Turner, U.K. ambassador to the U.S., on "Face the Nation with Margaret Brennan," April 26, 2026
The following is the transcript of the interview with Sir Christian Turner, U.K. ambassador to the U.S., that aired on "Face the Nation with Margaret Brennan" on April 26, 2026.
Transcript: Sam Vinograd and AT Smith on "Face the Nation with Margaret Brennan," April 26, 2026
The following is the transcript of the interview with CBS News national security contributor Sam Vinograd and CBS News law enforcement analyst AT Smith that aired on "Face the Nation with Margaret Brennan" on April 26, 2026.
Weijia Jiang on "Face the Nation with Margaret Brennan," April 26, 2026
The following is the transcript of the interview with White House Correspondents' Association President and senior CBS News correspondent Weijia Jiang that aired on "Face the Nation with Margaret Brennan" on April 26, 2026.
Entertainment
More Entertainment
Entertainment
4/26: Sunday Morning
Hosted by Jane Pauley. Featured: America's adversarial relationship with Cuba; singer-songwriter Kacey Musgraves; Rep. Jim Clyburn; reviving a Welsh soccer town; tree lovers; artist Jenny Saville; and rescuing Venus fly traps.
Kacey Musgraves on writing lyrics: "There is no greater drug"
A couple of years ago, the Grammy-winner went home to East Texas to heal from a breakup. She talks about how her "Dry Spell" led to a creative monsoon – her latest album, "Middle of Nowhere."
Extended interview: Kacey Musgraves
In this web exclusive, Grammy-winning singer-songwriter Kacey Musgraves talks with correspondent Anthony Mason about her latest album, "Middle of Nowhere," a record inspired by loneliness following a breakup, and how she grew to feel empowered by the concept of liminal space.
Kacey Musgraves on "Middle of Nowhere"
A couple of years ago, Grammy-winner Kacey Musgraves went home to east Texas to heal from a breakup. She tells Anthony Mason that in writing her latest album, "Middle of Nowhere," she learned how to embrace being alone. She also talks about the influence of her mentor, singer-songwriter John Prine, and how the emotions of her latest songs poured out of loneliness.
Passage: In memoriam
"Sunday Morning" remembers some of the notable figures who left us this week, including acclaimed conductor Michael Tilson Thomas.
Technology
More Technology
How the AI-driven data center boom is leading to skyrocketing energy bills
A CBS News analysis found that Georgia Power, the largest energy provider in the state, imposed six rate hikes in the last three years.
How data centers are impacting Americans
This week, Maine's governor vetoed a bill that would have made the state the first to ban the construction of new data centers. Shanelle Kaul reports.
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.
Sam Altman apologizes for not flagging authorities to mass shooter's ChatGPT account
The ChatGPT account of the shooter, who killed eight people in a small British Columbia community, had been banned about eight months prior to the massacre.
Why phone-free parties are gaining popularity
Some young people are opting to go phone-free to live in the moment. USA Today youth mental health reporter Rachel Hale went to an underground, phone-free party in New York City and wrote about her experience. She tells "The Daily Report" about it.
Science
More Science
Science
Saving the Venus fly trap
The carnivorous Venus fly trap is native to the Carolinas, but its population is dwindling due to loss of habitat. Correspondent Seth Doane talks with botanist Julie Moore, who has spent much of her life helping to save these remarkable plants; and with Damon Waitt, director of the North Carolina Botanical Garden, who discusses the unusual traits of a species that Charles Darwin called the most interesting plant in the world.
From 1990: NASA launches Hubble Telescope
On April 24, 1990, NASA launched the Hubble Space Telescope from the Space Shuttle Discovery after seven years of delays. Watch CBS News' coverage from that day.
60-foot octopus ruled the seas during age of dinosaurs, fossils show
New analyses of fossilized jaws reveal that massive, kraken-like octopuses once hunted alongside other marine predators.
Mysterious "golden orb" found in deep sea in 2023 is finally identified
Scientists spent over two years identifying a mysterious object found off the coast of Alaska in 2023.
Salmon exposed to cocaine swim almost twice as far, study shows
Researchers studied how the drug affected the movements of wild fish in their natural habitats.
Crime
More Crime
Crime
Breakdown of correspondents' dinner shooting
Nancy Cordes has a timeline of Saturday night's shooting at the White House Correspondents' Dinner, details on the suspect and info on the site of the attack.
U.K. ambassador: "Very confident" of security
Sir Christian Turner, the British ambassador to the U.S., told "Face the Nation with Margaret Brennan" that he is "very confident" that King Charles and Queen Camilla will have the "very best security" in their visit to the White House this week.
Podcast helps Louisiana police arrest 4 suspects in girl's 1982 murder
Police credited the podcast with generating crucial tips from the public and prompting new witnesses to approach investigators.
What's in the "manifesto" of the White House Correspondents' Dinner shooting suspect
Cole Allen, 31, sent an email to family members shortly before the annual press gala, officials told CBS News.
What we know about the suspect in shooting at White House Correspondents' Dinner
The suspect was identified to CBS News by law enforcement sources as 31-year-old Cole Allen of Torrance, California.
Space
More Space
Mars rover carries out chemistry experiment never done beyond Earth
"This experiment's never been run before on another world," said Amy Williams, an astrobiologist working on the Curiosity mission.
Blue Origin New Glenn rocket puts satellite payload into wrong orbit
The launching appeared to go off without a hitch, but a problem prevented the rocket's upper stage from putting its payload into the correct orbit.
Artemis II crew on historic moon mission and what it means for Earth
"We are carrying back everything we learned, not only about where we went but ourselves," mission specialist Christina Koch told "CBS Evening News" anchor Tony Dokoupil.
Artemis II astronauts still awed by moonshot experience: "It was otherworldly"
The four Artemis II astronauts struggled to describe the view and overall experience of flying around the moon's far side and witnessing a solar eclipse in deep space.
"God of chaos" asteroid will pass close to Earth in 3 years, NASA says
People on the ground in the Eastern Hemisphere will be able to observe the asteroid with their own eyes, weather permitting, according to NASA.
Latest Galleries
More Latest Galleries
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.
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?
The life & near death of prizefighter Christy Salters-Martin
Christy Salters-Martin dominated in the boxing ring but faced her toughest challenger at home.
Timeline: The disappearance of George Smith
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Who is Alix Tichelman?
Meet the tattooed beauty charged in the death of Google executive Forrest Hayes.
Latest CBS News Videos
More Latest CBS News Videos
Latest CBS News Videos
Tony Dokoupil on political violence in America
Tony Dokoupil shares his thoughts on Saturday night's shooting at the White House Correspondents' Dinner.
Latest on correspondents' dinner shooting
Tony Dokoupil, Nancy Cordes, Matt Gutman and Weijia Jiang lay out what we know about Saturday night's shooting at the White House Correspondents' Dinner.
Deadly tornadoes pummel North Texas
At least two people died and six others were injured as severe weather rolled through North Texas Saturday night. Nicole Valdes reports on the destruction and Rob Marciano has a look at the forecast.
Extended interview: President Trump
Norah O'Donnell sat down with President Trump to discuss the moment he was rushed out of the White House Correspondents' Dinner after a gunman charged a security checkpoint. Editor's note: The video above is an extended version of the interview that was broadcast on 60 Minutes on Sunday, April 26, 2026.
Sitting next to Trump during shooting
CBS News senior White House correspondent Weijia Jiang is also the president of the White House Correspondents' Association. She describes what she experienced when shots rang out at the organization's dinner while she was sitting next to President Trump.