Closer look at inflation and interest rate
CBS News business analyst Jill Schlesinger breaks down the decision by the Federal Reserve to pause raising interest rates this month, and how the U.S. is doing with inflation.
Inflation
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Federal Reserve pauses interest rate hikes
For 15 months the Federal Reserve has been trying to catch up to rising inflation by slowing economic activity. The central bank announced Wednesday it will not increase interest rates for now, but warned that the pause may not last long. CBS News senior White House correspondent Weijia Jiang reports.
Why the Fed paused interest rate hikes
For the first time since March 2022, the Federal Reserve will not be raising interest rates. J.D. Durkin, on-air host for digital financial news platform TheStreet, joins CBS News to discuss the Fed's path forward.
Fed hits pause on interest rates hikes
After 10 straight interest rate hikes done in an effort to combat inflation, the Federal Reserve on Wednesday chose to pause those rate hikes. However, Federal Reserve Chair Jerome Powell did signal that more rate hikes could be coming later this year. Weijia Jiang has more.
Federal Reserve pauses interest rate hikes
The Federal Reserve has decided to leave interest rates unchanged after a Consumer Price Index report this week showed inflation is cooling. CBS News business analyst Jill Schlesinger and Javier David, managing editor for business and markets at Axios, have more.
White House sees "progress" on inflation
Addressing the latest Consumer Price Index, President Biden said in a statement Tuesday that there was "continued progress tackling inflation," but "more work to do." The Biden administration also announced Wednesday that Secretary of State Antony Blinken will head to China this week. CBS News chief White House correspondent Nancy Cordes has more.
Inflation falls for 11th straight month
Inflation fell to 4% in May, the lowest rate since hitting a peak of 9.1% in June 2022. The welcome news may dissuade the Federal Reserve from raising interest rates for an 11th time. CBS News chief White House correspondent Nancy Cordes reports.
Fed expected to pause interest rate hikes
Inflation was lower in May, falling for the 11th straight month. And that could mean no more Federal Reserve interest rate hikes, at least for now. CBS News chief White House correspondent Nancy Cordes has more.
Inflation cools to lowest rate in 2 years
Consumer prices were up 4% from a year ago, according to the Department of Labor. That's the lowest inflation rate since 2021, although shoppers are still seeing rising prices at the grocery store. Carter Evans reports.
Inflation falls to lowest level in 2 years
The Labor Department reported Tuesday that the inflation rate for the month of May fell to 4% -- the lowest level in more than two years. David Wessel, director of the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution, joined CBS News to break down the numbers.
Rate hike pause after inflation report?
The latest consumer price index shows inflation is cooling. Prices rose 0.1% last month. Lori Bettinger, former director of the TARP Capital Purchase Program at the Department of the Treasury, has more on what this could mean for future interest rate hikes.
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 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.
Live
Suspect killed after opening fire on Secret Service checkpoint outside White House
The Secret Service says a suspect was killed after opening fire on a Secret Service checkpoint outside the White House. A bystander was also wounded.
Live
Peace deal with Iran has been "largely negotiated," Trump says
President Trump noted that "Final aspects and details of the Deal" were "currently being discussed and will be announced shortly."
Kyle Busch's cause of death revealed by family
Kyle Busch, who won more races in NASCAR's top three series than anyone in history, died suddenly on Thursday.
Newsom declares state of emergency for chemical leak as officials seek solutions
Southern California officials are desperately searching for a safe resolution to a leaking toxic chemical tank at an aerospace facility.
Ebola kills 3 Red Cross workers in the Congo, organization says
The three workers, who died in March, were "among the first known victims of the outbreak," the Red Cross said.
Cruz says Blanche faced "full-on revolt" over DOJ fund at meeting with GOP senators
The GOP senator said the meeting included "screaming," adding that "fiery does not begin to cut it."
Judge tosses federal charges against Kilmar Abrego Garcia
A federal district judge granted Kilmar Abrego Garcia's motion to dismiss two criminal charges on the grounds his prosecution was vindictive and selective.
Trump administration to require most green card applicants to leave U.S. first
The Trump administration on Friday announced a sweeping policy designed to make it harder for immigrants already in the U.S. to get permanent residency.
What to know about California chemical tank set to explode or leak
The tank at GKN Aerospace is estimated to contain 7,000 gallons of methyl methacrylate, a volatile chemical used to produce plastics.
U.S.
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Live
Suspect killed after opening fire on Secret Service checkpoint outside White House
The Secret Service says a suspect was killed after opening fire on a Secret Service checkpoint outside the White House. A bystander was also wounded.
Kyle Busch's cause of death revealed by family
Kyle Busch, who won more races in NASCAR's top three series than anyone in history, died suddenly on Thursday.
Exclusive
Trump says U.S. is "getting a lot closer" to agreement with Iran
U.S. officials and negotiators were discussing a process to reopen the Strait of Hormuz, sources briefed on the conversations said.
What to know about California chemical tank set to explode or leak
The tank at GKN Aerospace is estimated to contain 7,000 gallons of methyl methacrylate, a volatile chemical used to produce plastics.
How some U.S. schools are teaching kindness classes
Kindness 101 is a program that uses the stories CBS News finds in our "On the Road" series to teach kindness and character. The stories are paired with lesson plans created by a nonprofit at Iowa's Drake University called "Character Counts!"
MoneyWatch
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AI is driving more job cuts and weighing on hiring, economists say
Economists say AI is reshaping the U.S. labor market by suppressing hiring even as overall job losses remain limited.
House lawmakers launch insider trading probe into Kalshi and Polymarket
Rep. James Comer is requesting information from Kalshi and Polymarket on how the prediction markets guard against insider trading.
Kevin Warsh sworn in as new Fed chair, replacing Powell
Kevin Warsh has vowed to preserve the Fed's independence over monetary policy, telling lawmakers he will never "predetermine" interest rates at the president's request.
This factor may determine whether you get rich. You don't control it.
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Why Google's Gemini Spark AI agent could be a game changer
AI tools that autonomously perform tasks for users mark a major step forward from chatbots, according to tech experts.
Politics
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Exclusive
Trump says U.S. is "getting a lot closer" to agreement with Iran
U.S. officials and negotiators were discussing a process to reopen the Strait of Hormuz, sources briefed on the conversations said.
Cruz says Blanche faced "full-on revolt" over DOJ fund at meeting with GOP senators
The GOP senator said the meeting included "screaming," adding that "fiery does not begin to cut it."
U.S. prepares for new military strikes against Iran
At the same time, Tehran is reviewing the latest U.S. proposal for a possible agreement to end the nearly three-month war.
Exclusive
CIA director brought paramilitary leader involved in Maduro capture to Cuba meeting
When CIA Director John Ratcliffe visited Havana last week to meet with senior Cuban officials, he brought along one of the covert operators involved in the mission to capture Nicolás Maduro, multiple people familiar with the matter said.
Judge tosses federal charges against Kilmar Abrego Garcia
A federal district judge granted Kilmar Abrego Garcia's motion to dismiss two criminal charges on the grounds his prosecution was vindictive and selective.
HealthWatch
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What to know about California chemical tank set to explode or leak
The tank at GKN Aerospace is estimated to contain 7,000 gallons of methyl methacrylate, a volatile chemical used to produce plastics.
Ebola kills 3 Red Cross workers in the Congo, organization says
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Teen's mystery illness solved: "It took 18 years to get an answer"
Lucia Adarve had a long list of symptoms that no one could diagnose. Her mother Lisa was determined to find an answer.
Ebola "spreading rapidly" in the Congo with national risk "very high"
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New weight-loss drug Retatrutide in trials
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World
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Serbian protesters clash with police amid anti-government rally in Belgrade
Protesters on Saturday streamed into central Belgrade, many carrying banners and wearing T-shirts inscribed with the "Students win" motto of the youth movement.
Ebola kills 3 Red Cross workers in the Congo, organization says
The three workers, who fell ill in March and died in May, were "among the first known victims of the outbreak," the Red Cross said.
Bodies of divers who died in Maldives scuba accident returned to Italy
The remains of four Italian divers who died deep inside an underwater cave have been repatriated. One other set of remains was returned earlier this month.
Coal mine explosion in China kills at least 82 people, state media say
The incident marks China's deadliest mining accident in years.
U.S. prepares for new military strikes against Iran
At the same time, Tehran is reviewing the latest U.S. proposal for a possible agreement to end the nearly three-month war.
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Summer movies to rush to the theater for
Matt Singer, the editor and critic for ScreenCrush.com, joins "CBS Saturday Morning" for a preview of this summer's hottest movies worth watching.
Ryan Bingham reflects on his music, TV career
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Lamorne Morris steps into the Marvel universe
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Ryan Bingham and The Texas Gentlemen perform "Relevance"
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Ryan Bingham and The Texas Gentlemen perform "Let the Big Dog Eat"
Ryan Bingham is an Oscar, Grammy, Golden Globe and Critics' Choice award-winning singer-songwriter who also played Walker in "Yellowstone." For his first album in seven years, Bingham teamed up with The Texas Gentlemen to create "They Call Us The Lucky Ones." Here's Ryan Bingham and The Texas Gentlemen performing "Let the Big Dog Eat."
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CBS News poll finds most doubt government will ensure AI used appropriately
Amid concern about AI taking jobs, people see a range of motives by AI companies.
Ring founder on the Fire Watch feature
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How AI powered robots are helping small farms
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Stanford student on how AI impacted his class
A recent opinion piece in The New York Times spotlighted the impact of artificial intelligence on the 2026 graduating class at one of the world's most prestigious universities. The author, Stanford student Theo Baker, joins to discuss.
Why Google's Gemini Spark AI agent could be a game changer
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What we know about new UFO file release
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Atlantic hurricane season is coming up. Here's what NOAA predicts.
The 2026 Atlantic hurricane season is quickly approaching, and the National Oceanic and Atmospheric Administration is releasing its forecast for what to expect.
2 humpback whales swam record-breaking distance, photos reveal
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Live chicks hatched from artificial eggshell, biotech company says
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El Niño could bring "double whammy" of high tide flooding, NOAA warns
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Crime
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Crime
Possible shots heard from White House
Several shots were heard from the White House property on Saturday. Aaron Navarro reports from the location after Secret Service told him to get down immediately.
Woman accused of shooting 2 lawyers
A woman is accused of opening fire outside a courthouse in Raleigh, North Carolina, and shooting two lawyers, police said.
Lawyers shot outside North Carolina courthouse
In Raleigh, North Carolina, a woman's civil case turned into a criminal one after police said she shot two lawyers outside a courthouse. Both were hospitalized. Skyler Henry reports.
Ivey and Ellison on 6 years since Floyd murder
Six years after his murder in Minneapolis, and despite passing the House twice, the George Floyd Justice in Policing Act remains stalled in the Senate. Some lawmakers are hoping to change that. Democratic Rep. Glenn Ivey of Maryland and Minnesota Attorney General Keith Ellison join to reflect on the state of police reform.
Mosque attack was streamed online
The deadly attack at the Islamic Center of San Diego was streamed online, and at least three people watched as two teenagers attacked the facility filled with young students, CBS News' Anna Schecter reports.
Space
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SpaceX launches more powerful Super Heavy-Starship rocket
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SpaceX launch of more powerful Super Heavy-Starship rocket scrubbed at last minute
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SpaceX to explore "the true nature of the universe" as it plans IPO
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SpaceX launches cargo ship to International Space Station
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NASA maps show Earth's brightest and darkest regions at night
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Possible shots heard from White House
Several shots were heard from the White House property on Saturday. Aaron Navarro reports from the location after Secret Service told him to get down immediately.
Changes for immigrants seeking green cards
The Trump administration announced Friday its sweeping policy change that will require most immigrants seeking green cards to leave the U.S. first. CBS News' Camilo Montoya-Galvez has more.
The Dish: Moo's Craft Barbecue
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Summer movies to rush to the theater for
Matt Singer, the editor and critic for ScreenCrush.com, joins "CBS Saturday Morning" for a preview of this summer's hottest movies worth watching.
Ryan Bingham reflects on his music, TV career
Ryan Bingham's career spans decades and genres. He went from a 2009 awards season sweep with "The Weary Kind (Theme from Crazy Heart)" to starring as Walker in "Yellowstone." Bingham sat down with "CBS Saturday Morning" to reflect on his work and to discuss his latest project, "They Call Us The Lucky Ones," which he created in collaboration with The Texas Gentlemen.