A key inflation measure cooled in December
Easing of Personal Consumption Expenditures price index indicates Fed's interest rate hikes are slowing the economy.
Inflation
Stocks finish higher on encouraging GDP numbers
The Dow Jones ended in the green Thursday following a report that showed the U.S. gross domestic product rose 2.9% in the fourth quarter of 2022. Kayla Bruun, economic analyst for Morning Consult, joined CBS News to discuss what the latest GPD data could mean to the economy.
U.S. GDP grew 2.9% in final quarter of 2022
The economy is fighting back against inflationary pressures, but many economists say that won't last, and the economy could slow down in 2023 as an intended consequence of the Federal Reserve's efforts to rein in inflation by raising interest rates. Economist and Harvard University professor Jeffrey Frankel joined CBS News to discuss what the latest GDP data could mean for the economy moving forward.
Economic growth remains solid, shrugging off recession fears
U.S. economy grew at 2.9% rate in last three months of year despite pressure of high rates and fears of recession.
Egg prices have soared. Now a lawmaker wants to know why.
With egg costs more than doubling in the past year, calls are coming for an investigation into possible price gouging.
Experts predict lower housing prices
Many real estate experts say they expect to see lower housing prices in 2023. CBS News' Tony Dokoupil and Lilia Luciano are joined by Kenny Simpson, mortgage adviser for The Simpson Team, to discuss the market trends.
U.K. consumers cut back on spending
New data from Britain's Office for National Statistics shows that consumers in the United Kingdom cut down on their shopping in December by the largest amount in at least 25 years. Meanwhile, the latest report from the government shows that inflation in the U.K. eased from November to December. CBS News foreign correspondent Ramy Inocencio joined Vladimir Duthiers and Anne-Marie Green from London to discuss.
Stocks fall as recession fears weigh on market
"Disappointing U.S. data releases and hawkish Fed rhetoric are also adding to the risk-off mood," said one analyst.
Inflation is cooling, Fed Vice Chair Lael Brainard says
But central bank will have to keep interest rates elevated "for some time" to keep a lid on price increases, official notes.
U.K.'s King Charles says property windfall should go to "wider public"
The royal family owns a lot of property, and plans for new wind farms are making it much more valuable.
Claims for jobless aid fall to lowest level in 4 months
Despite a spike in tech layoffs, most U.S. employers are holding on to their workers amid a tight job market.
Dow drops on negative retail sales report
The Dow Jones dropped more than 600 points Wednesday following the release of the December retail sales report by the U.S. Commerce Department. Kayla Bruun, an economic analyst for "Morning Consult", joined CBS News to provide her reaction to the report.
Market has biggest pullback of the year, led by tech
Dow falls more than 600 points, while sharp drop wipes out S&P 500's gains from last week.
The high cost of health care in America
The latest Gallup poll shows a record number of Americans delayed medical care in 2022 because they could not afford it. Pediatric airway surgeon Dr. Susannah Hills joined CBS News to break down the data.
Party City files for bankruptcy protection amid rising prices
Inflation, reduced consumer spending and mounting competition has dented the retailer's growth.
Thousands of U.K. nurses walk out as wave of strikes continues
Key health and transport workers, driving instructors, bus drivers and postal workers have all gone on strike in recent months in a standoff with the government.
What is causing egg prices to skyrocket?
Inflation has slowed for six months straight, but some grocery store staples have continued to skyrocket in price. Among items leaving consumers shell-shocked at the increased cost: eggs. Carter Evans takes a look.
Egg prices have soared 60% in a year. Here's why.
Egg costs are soaring as Americans' eating habits change and as a deadly disease wipes out millions of birds.
IRS says tax refunds may be smaller
Tax season begins on Monday, and taxpayers should expect some changes this year. The IRS warned refunds could be smaller because of the expiration of COVID-19 relief initiatives. CBS MoneyWatch associate managing editor Aimee Picchi joined CBS News to discuss.
4 ways parents can cut their child care costs in 2023
As the new year kicks off, here are some tips for parents looking to save money amid high inflation.
GM president on future of electric vehicles
Popularity of electric vehicles soared in 2022 with around 7.8 million units sold globally. General Motors President Mark Reuss joined CBS News to discuss Chevrolet's new fully electric Corvette and the future of the electric vehicle industry.
What are the chances of a U.S. recession?
Despite signs of inflation easing up, many economists are still expecting the U.S. to fall into a recession. CBS News' Tony Dokoupil and Lana Zak are joined by Harriet Torry, economics reporter for the Wall Street Journal, to discuss the economic outlook.
World Economic Forum begins in Davos
World leaders and executives are gathering in Switzerland for the annual World Economic Forum. Simon Kennedy, executive editor for economics at Bloomberg News, joins "CBS News Mornings" to explain the main focus points for this year's meeting and how it differs from prior ones.
As Davos kicks off, Oxfam calls for tax on food companies
"Very large food and energy companies are making excessive profits," anti-poverty group chief said.
Margarine and butter prices are surging. Here's why.
Although U.S. inflation has cooled from its peak this summer, some food costs remain unusually high.
Live
4 more U.S. deaths, vague threat from Trump as Iran war nears 2-week mark
The U.S. military says four service members were killed in a plane crash in Iraq, as Iran's continued attacks on Gulf states keep oil prices high.
Suspect in synagogue attack lost family in recent airstrike in Lebanon, source says
The attacker rammed a vehicle into Temple Israel in West Bloomfield and was confronted and killed by security, Oakland County Sheriff Michael Bouchard said.
Old Dominion shooting suspect was previously imprisoned for trying to support ISIS
The suspect, who was killed following the shooting, had previously been imprisoned for several years for trying to support ISIS, the FBI said.
Watch Live: Hegseth, Caine give Iran war update at Pentagon
Defense Secretary Pete Hegseth and Joint Chiefs Chairman Dan Caine are giving a briefing on Operation Epic Fury in Iran Friday.
4 crew members killed in crash of U.S. KC-135 refueling aircraft in Iraq
The U.S. military has confirmed that at least four crew members were killed when an American KC-135 refueling plane taking part in the Iran war crashed in western Iraq.
Cuba's leader Miguel Diaz-Canel confirms talks with U.S. underway
Cuban leader Miguel Diaz-Canel confirmed Friday that Cuban officials recently held conversations with the U.S. government.
Trump administration allows purchase of Russian oil already at sea
The U.S. is temporarily allowing the purchase of Russian oil that's already at sea, in the Trump administration's latest move to loosen sanctions on Russia's oil industry as the world grapples with high oil prices.
U.S. launches new investigations into 60 countries as it fights to restore tariffs
The Trump administration has launched investigations into dozens of countries accused of failing to crack down on forced labor, flexing a law that lets the federal government impose tariffs.
Brave ROTC students credited with stopping deadly shooting at Old Dominion
Officials praised the "brave" actions of ROTC students who confronted a gunman Thursday after he opened fire in a classroom on the campus of Old Dominion University, killing one person and injuring two others.
U.S.
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Watch Live: Hegseth, Caine give Iran war update at Pentagon
Defense Secretary Pete Hegseth and Joint Chiefs Chairman Dan Caine are giving a briefing on Operation Epic Fury in Iran Friday.
U.S. launches new investigations into 60 countries as it fights to restore tariffs
The Trump administration has launched investigations into dozens of countries accused of failing to crack down on forced labor, flexing a law that lets the federal government impose tariffs.
Brave ROTC students credited with stopping deadly shooting at Old Dominion
Officials praised the "brave" actions of ROTC students who confronted a gunman Thursday after he opened fire in a classroom on the campus of Old Dominion University, killing one person and injuring two others.
3 teens took part in a weeklong experiment to curb screen time. It worked.
For one week, three New Jersey high schoolers agreed not to take their phones to bed, and to try different tools to reduce screen time.
U.S. military plane crashes in Iraq, officials say
An aerial refueling tanker crashed in Western Iraq, U.S. officials said.
MoneyWatch
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U.S. launches new investigations into 60 countries as it fights to restore tariffs
The Trump administration has launched investigations into dozens of countries accused of failing to crack down on forced labor, flexing a law that lets the federal government impose tariffs.
Trump administration allows purchase of Russian oil already at sea
The U.S. is temporarily allowing the purchase of Russian oil that's already at sea, in the Trump administration's latest move to loosen sanctions on Russia's oil industry as the world grapples with high oil prices.
Millions of Americans skip meals, stretch medication to afford health care
Even people with six-figure incomes are making financial sacrifices to pay for medical care, a new study finds.
What will it take for ships to brave the Strait of Hormuz again?
Energy prices won't ease up until the Strait of Hormuz is secure, experts say. Here's what it will take to get the oil flowing again.
Trump weighs Jones Act waiver amid rising fuel prices, White House says
Easing the century-old shipping law could help lower fuel prices as the Iran war pushes crude oil near $100 a barrel, experts say.
Politics
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Democratic senators file war powers resolution to try to restrain Trump on Cuba
Senate Democrats have filed legislation hat would keep the U.S. from attacking Cuba without congressional approval as they seek to force a vote on President Trump's stated goal of a "takeover" of the Caribbean country.
Watch Live: Hegseth, Caine give Iran war update at Pentagon
Defense Secretary Pete Hegseth and Joint Chiefs Chairman Dan Caine are giving a briefing on Operation Epic Fury in Iran Friday.
U.S. launches new investigations into 60 countries as it fights to restore tariffs
The Trump administration has launched investigations into dozens of countries accused of failing to crack down on forced labor, flexing a law that lets the federal government impose tariffs.
Trump administration allows purchase of Russian oil already at sea
The U.S. is temporarily allowing the purchase of Russian oil that's already at sea, in the Trump administration's latest move to loosen sanctions on Russia's oil industry as the world grapples with high oil prices.
Cuba to release 51 people from prison in surprise move amid Trump pressure
Cuba's government says it will release 51 people from prisons, in an unexpected move that comes as the Trump administration puts immense pressure on the country.
HealthWatch
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Millions of Americans skip meals, stretch medication to afford health care
Even people with six-figure incomes are making financial sacrifices to pay for medical care, a new study finds.
Disease once linked to mining hits workers in countertops industry
Crystalline silica, which is released into the air when workers cut and polish engineered stone for kitchen countertops, can scar human lungs beyond repair.
"I was fighting to survive": Patients still struggle with preauthorization hurdles
Last summer, the Trump administration announced a voluntary pledge by health insurers to reform prior authorization, but patient advocates and medical providers remain skeptical.
Investigation
There's one building in LA with 89 registered hospices: "Ground zero" for fraud?
A CBS News analysis of records for every hospice operating in Los Angeles County finds indications of fraud are growing.
Raw oysters and clams recalled in 9 states over norovirus risks
Food containing norovirus may smell and taste normal but still cause serious illness if consumed, FDA warns.
World
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Democratic senators file war powers resolution to try to restrain Trump on Cuba
Senate Democrats have filed legislation hat would keep the U.S. from attacking Cuba without congressional approval as they seek to force a vote on President Trump's stated goal of a "takeover" of the Caribbean country.
Watch Live: Hegseth, Caine give Iran war update at Pentagon
Defense Secretary Pete Hegseth and Joint Chiefs Chairman Dan Caine are giving a briefing on Operation Epic Fury in Iran Friday.
Live
4 more U.S. deaths, vague threat from Trump as Iran war nears 2-week mark
The U.S. military says four service members were killed in a plane crash in Iraq, as Iran's continued attacks on Gulf states keep oil prices high.
14 million doses of fentanyl seized from secret drug lab in Mexico
The raids come as President Donald Trump ramps up his criticism of Mexico's record on fighting drug trafficking.
4 crew members killed in crash of U.S. KC-135 refueling aircraft in Iraq
The U.S. military has confirmed that at least four crew members were killed when an American KC-135 refueling plane taking part in the Iran war crashed in western Iraq.
Entertainment
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Misty Copeland fires back at Timothée Chalamet ballet, opera comments
Ballerina Misty Copeland responded to controversial comments made by actor Timothée Chalamet when he appeared to dismiss the significance of ballet and opera, saying, "No one cares."
John Grisham on his first-ever spy novel
John Grisham, who has written 52 bestsellers, reveals the name of his new novel on "CBS Mornings" and talks about how writing about espionage compares to his legal thrillers.
Spoiler alert! Latest "Survivor elimination
The fourth contestant eliminated from "Survivor: In the Hands of the Fans" joins "CBS Mornings" to discuss being voted off and playing the game again.
Misty Copeland on Timothée Chalamet comments
Misty Copeland, the first Black female principal dancer for the American Ballet Theater, said Timothée Chalamet "wouldn't be an actor and have the opportunities he has as a movie star if it weren't for opera and ballet and their relevance in that medium." Her response comes after Chalamet's comments on ballet and opera sparked backlash.
Oscars 2026: Behind the scenes with the best supporting actor nominees
Watch scenes from the performances nominated for best supporting actor at the 98th annual Academy Awards, as well as interviews with the nominees.
Technology
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3 teens took part in a weeklong experiment to curb screen time. It worked.
For one week, three New Jersey high schoolers agreed not to take their phones to bed, and to try different tools to reduce screen time.
How Pentagon-Anthropic AI dispute escalated
The Trump administration has blacklisted AI giant Anthropic, labeling it a supply chain risk. The company has sued in response. New York Times tech reporter Sheera Frenkel joins CBS News to break down the feud.
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.
Memory chip shortage could raise tech prices
An explosion in artificial intelligence data centers and cloud computing is shrinking the supply of memory chips, which is having a major impact on the price consumers pay for everyday tech. CNET editor-in-chief David Katzmaier joins CBS News to discuss.
What is XMoney, Elon Musk's new digital payments platform?
Elon Musk said his long-planned payments platform, dubbed XMoney, is set to launch for select users. Here's what to know.
Science
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Sea levels higher than thought due to "methodological blind spot," study says
A new study in the journal Nature says most sea level rise research may have underestimated coastal water heights by an average of 1 foot.
NASA announces major overhaul of Artemis moon program "to take down risk"
NASA Administrator Jared Isaacman announced significant changes to the agency's Artemis program, which aims to land on the moon in 2028.
What scientists will be looking for when government UFO files are released
Documents might help scientists shed light on unexplained phenomena and government secrets, experts said.
In a first, shark seen on camera in Antarctica waters, surprising researchers
A large shark was caught on camera for the first time in Antarctica's waters, surprising researchers. "There's a general rule of thumb that you don't get sharks in Antarctica," one said.
How Washington's crossing of the Delaware presaged a changing world
On the evening of Christmas 1776, Gen. George Washington surprised the King's forces by leading the Continental Army in a surprise crossing of a near-frozen Delaware River - a watershed military maneuver that dramatized a changing America, and a changing climate.
Crime
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Crime
FBI probes synagogue attack as targeted act
The FBI says the attack on a Michigan synagogue on Thursday is being investigated as a "targeted act of violence against the Jewish community." CBS News' Anna Schecter reports.
14 million doses of fentanyl seized from secret drug lab in Mexico
The raids come as President Donald Trump ramps up his criticism of Mexico's record on fighting drug trafficking.
What happened in Michigan synagogue attack
The FBI is assisting in the Michigan synagogue attack investigation, calling the incident a "targeted act of violence against the Jewish community." CBS News' Alysia Burgio, Sam Vinograd and Rodney Harrison have more.
FBI helping Michigan synagogue attack probe
Officials in Michigan gave an update on Wednesday afternoon's synagogue attack in West Bloomfield. The FBI is assisting in the investigation as a "targeted act of violence against the Jewish community."
Details on Michigan synagogue attack
Two major active shooting situations occurred in the U.S. on Thursday. The first happened at Old Dominion University in Norfolk, Virginia, during an ROTC class. A retired Army officer was killed and two other people were injured. The gunman, who was also killed, had previously pleaded guilty in the U.S. over connections to ISIS. In Michigan, a truck rammed into one of the biggest synagogues in the country. A security guard shot killed the suspect who exited the vehicle armed with a rifle. CBS News' Bradley Blackburn, Anna Schecter and Sam Vinograd have more.
Space
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NASA targets April 1 for moon mission launch
NASA's huge Space Launch System rocket has been repaired and is ready for rollout back to the launch pad next week.
1,300-pound NASA satellite to crash on Earth
Nearly 14 years after it was launched in 2012, NASA says a 1,300-pound satellite is expected to come crashing back to Earth on Wednesday. Most of it will burn up as it reenters the atmosphere, but NASA warns some debris could survive reentry.
1,300-pound NASA satellite re-enters Earth's atmosphere after 14 years in space
The Van Allen probe's mission was meant to last two years, but ended up going for nearly seven.
Why NASA is overhauling Artemis program
NASA has announced a major overhaul of its Artemis moon program amid ongoing safety concerns. CBS News space consultant Bill Harwood has more details.
How NASA plans to get astronauts on the moon
NASA announced an overhaul to its Artemis moon program as safety concerns persist. CBS News space contributor Christian Davenport breaks down the key takeaways.
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.
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
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Latest CBS News Videos
Trump's stark warning on Day 14 of Iran war
President Trump posted on social media Friday, warning to "watch what happens" as the Iran war enters a second week. CBS News' Charlie D'Agata has more as more details emerge about four more U.S. military deaths.
FBI probes synagogue attack as targeted act
The FBI says the attack on a Michigan synagogue on Thursday is being investigated as a "targeted act of violence against the Jewish community." CBS News' Anna Schecter reports.
4 U.S. service members killed in Iraq
The U.S. military confirmed four more service members were killed during an apparent collision involving an American KC-135 refueling aircraft. CBS News' Natalie Brand and Courtney Kealy have more.
Strait of Hormuz's impact on oil prices
Ship traffic in the Strait of Hormuz was mostly stopped amid the war in Iran on Thursday, which contributed to rising oil prices. The waterway typically carries around 20% of the world's supply of oil. On Wednesday, President Trump ordered the release of 172 million barrels of oil from emergency reserves. In a statement attributed to Iran's new Supreme Leader, Ayatollah Mojtaba Khamenei, he said Iran should keep putting pressure on the critical chokepoint.
NASA eyes April 1 launch of Artemis II
NASA says it is rolling the Artemis II rocket back out to its launch pad one week from Thursday in the hopes of an April 1 launch date. CBS News space consultant Bill Harwood has more.