Americans say holiday gifts harder to afford, poll shows
Punishing inflation is forcing many people to economize this holiday season, while some are skipping gifts altogether.
Inflation
Inflation slows ahead of Fed meeting
The Labor Department reported Tuesday that the Consumer Price Index rose 7.1% over the last 12 months, the slowest rate of inflation since December of 2021. William Lee, chief economist for the Milken Institute, joined CBS News to discuss the latest data.
Treasury Secretary Janet Yellen on inflation
In the U.S., inflation is at a 40-year high. Secretary of the Treasury Janet Yellen told 60 Minutes she sees positive signs that many of the underlying causes are being resolved and that by the end of 2023, inflation will be substantially reduced.
CPI report shows inflation slowing down
President Biden says the latest Consumer Price Index report is a sign that the country's economy is heading in the right direction. November's monthly index showed inflation is slowing, and the rate was not only lower than October's, but less than economists predicted. CBS News senior White House and political correspondent Ed O'Keefe has more on the administration's economic agenda and the celebratory plans for the signing of the Respect For Marriage Act into law.
Stocks soar on latest signs that inflation is slowing
Wall Street jumped after a government report showed U.S. inflation slowed more in November than analysts had expected.
Inflation cooled in November for fifth month
The annual inflation rate hit 7.1% in November, the fifth straight month that consumer prices cooled off. Lori Bettinger, president of BancAlliance, joins CBS News' Elaine Quijano and Lana Zak on how this could affect the Federal Reserve's announcement Wednesday on interest rates.
Inflation cooled further in November, with prices rising 7.1%
Price increases are slowing but have a long way to go before hitting the Federal Reserve's 2% target.
U.S. Inflation slightly cooling down
The Consumer Price Index rose 7.1% in November, down from 7.7% in October. The Federal Reserve is expected to announce another interest rate hike this week. CBS News reporter Sarah Ewall-Wice joins us with the latest on what this means for the economy.
How long will it take for U.S. prices to return to normal?
Although the sharpest price increases are behind us, it could be years before runaway inflation finally runs its course.
Feds expected to raise interest rates again
The Federal Reserve is set to meet this week to discuss another possible interest rate hike. The two-day meeting comes after Treasury Secretary Janet Yellen saying she predicts a significant reduction in inflation by the end of next year. Kristin Myers, the editor-in-chief at The Balance, joins CBS News to discuss.
Price increases slam holiday industries
Americans are expected to spend more to decorate and buy gifts for family and friends this holiday season. Scott MacFarlane reports that price increases are hitting the holiday industries, but people still want to spend this year to keep their traditions going.
Inflation raises Christmas costs, with some trees selling for over $100
Gary Thomas, who has a sprawling farm near the Pennsylvania-Maryland border, has worried about what customers will think of his price hikes.
Janet Yellen: The 2022 60 Minutes Interview
The treasury secretary tells Norah O’Donnell how she thinks the economy will fare in the coming year and what her department is doing to end the war in Ukraine.
Investors anticipate Fed meeting next week
The Federal Reserve is meeting next week to decide on interest rate hikes. Geetu Sharma, founder and investment manager of AlphasFuture, discussed the state of the stock market.
Wholesale prices rose in November
Wholesale prices rose 0.3% in November, despite efforts to cool inflation. The numbers could signal another interest rate hike by the Federal Reserve. Bob Elliot, the CEO and CIO of Unlimited, joins CBS News' Lana Zak and Tanya Rivero to discuss.
U.K. overhauls financial sector
The British government has announced an overhaul of financial regulations that were originally put in place following the 2008 financial crisis. And China eases its strict "zero-COVID" policies in an effort to bring down inflation. CBS News foreign correspondent Ramy Inocencio discusses with anchors Anne-Marie Green and Meg Oliver.
Analyzing inflation, stocks, cryptocurrency
According to the Bureau of Labor Statistics' Producer Price Index that was released today, the prices of wholesale goods in the U.S. rose 0.3% for the month of November. Meanwhile, investors are trying to remain optimistic about the stock market heading into 2023. CBS News contributor and Axios managing editor of business and markets Javier David joins us to discuss.
U.S. gas prices now lower than 1 year ago
Gas prices continue to fall and are now lower than they were one year ago. While plunging gas prices have provided some relief, Americans are still facing stubbornly high inflation. Kris Van Cleave takes a look.
Yellen believes inflation will be lower in '23
"I believe inflation will be lower. I am very hopeful that the labor market will remain quite healthy," Yellen tells Norah O'Donnell. See the interview, Sunday on 60 Minutes.
Gas prices in the U.S. are now lower than a year ago
Sharp drop in average gas prices signals that this year's breakneck pace of inflation is cooling.
Yellen to unveil first U.S. currency with her signature
Janet Yellen is set to unveil the first U.S. currency bearing her signature, marking the first time that U.S. bank notes will bear the name of a female treasury secretary.
Jamie Dimon warns of "mild recession"
JPMorgan Chase CEO Jamie Dimon spoke with "Face the Nation" moderator Margaret Brennan about the state of the economy and how geopolitical issues could play a role. He warned of a mild recession in 2023. Brennan joins CBS News' John Dickerson on "Prime Time" with more on the interview.
Better to buy a real or artificial Christmas tree?
A real or artificial Christmas tree? Carter Evans takes a look at which one is better for your wallet and the environment.
Surprising jobs report shows strong hiring
The Labor Department's November jobs report showed the U.S. gained 263,000 jobs last month. But fears about inflation and a possible recession remain. Meg Oliver reports.
Stocks fall with another rate hike expected
The Dow plunged over 480 points Monday as investors remain fearful the Federal Reserve could drive the economy into a recession with additional interest rate hikes. Dory Wiley, president and CEO of Commerce Street Holdings, joined CBS News' Lilia Luciano on the implications of the Fed's next move.
U.S. Coast Guard pursuing third oil tanker off Venezuela coast, source says
If caught and seized, it would be the third Venezuelan tanker taken by the U.S. this month.
Khanna says DOJ Epstein files release was a "slap in the face" to survivors
Rep. Ro Khanna said the release of an initial tranche of files and photos related to late sex offender Jeffrey Epstein was a "slap in the face of survivors," while Rep. Thomas Massie said the DOJ is "flouting the spirit and the letter of the law."
Americans weigh in on cost of living, Trump, expectations for 2026 in poll
More see Trump's policies responsible for economy today than Biden's; there are also concerns about AI impact on jobs.
Hassett says $2,000 tariff checks for Americans will depend on Congress
Director of the National Economic Council Kevin Hassett said Sunday that President Trump's idea to give Americans $2,000 checks funded by tariff revenue will "depend on what happens with Congress."
Suspected Brown and MIT professor shooter showed signs of anger, former friend says
A former friend of the man accused of the deadly Brown University shooting and killing an MIT professor described him as a "socially awkward" person who showed signs of anger during their time on campus together.
Thousands of mourners gather at Bondi Beach to honor attack victims
Prime Minister Anthony Albanese, whose government earlier this year recongized a Palestinian state, was booed by the crowd.
At least 15 newly-released Epstein files disappeared from DOJ's website, records show
The episode has deepened concerns that had already emerged from the Justice Department's much-anticipated document release.
MS-13 gang member sentenced to 1,335 years in prison in El Salvador
Earlier this year, the U.S. designated MS-13, which was formed in Los Angeles in the 1980s by Salvadoran immigrants, a terrorist organization.
Rob Reiner's friends and colleagues share fond and funny memories
Friends and colleagues of Rob Reiner sat down with CBS News to share personal anecdotes and fond memories of him following the news of his tragic death.
U.S.
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Artemis 2 astronauts rehearse countdown for upcoming moon launch
NASA is gearing up to send four Artemis astronauts on looping test flight around the moon in 2026.
Georgetown coach suspended for one game for water bottle throw
Georgetown men's basketball coach Ed Cooley was suspended by the school on Sunday for one game after throwing a water bottle into the stands at the end of a loss to Xavier the night before.
Full transcript of "Face the Nation with Margaret Brennan," Dec. 21, 2025
On this "Face the Nation with Margaret Brennan" broadcast, Reps. Thomas Massie and Ro Khanna join Margaret Brennan.
Khanna says DOJ Epstein files release was a "slap in the face" to survivors
Rep. Ro Khanna said the release of an initial tranche of files and photos related to late sex offender Jeffrey Epstein was a "slap in the face of survivors," while Rep. Thomas Massie said the DOJ is "flouting the spirit and the letter of the law."
Hassett says $2,000 tariff checks for Americans will depend on Congress
Director of the National Economic Council Kevin Hassett said Sunday that President Trump's idea to give Americans $2,000 checks funded by tariff revenue will "depend on what happens with Congress."
MoneyWatch
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Rome introduces tourist fee for some Trevi fountain visitors
Tourists visiting the Trevi Fountain are now going to pay more than just the legendary coin toss over their shoulder.
Want to work in AI? Here are the skills to master, economist says
Rapid emergence of AI will foster demand for new types of workers, including "explainers" and bias auditors, according to economist Robert Seamans.
Here's how much ACA costs would have risen this year without subsidies
Millions of people with an Affordable Care Act health plan face a massive jump in premiums next year — this chart shows just how much.
Trump reaches deal with 9 major drugmakers to lower prices
Nine drug manufacturers will offer their drugs to Medicaid recipients at most-favored-nation discounts in exchange for tariff exemptions.
Judge in nursing home bankruptcy case gives families fresh hope
A bankruptcy judge blocked an attempt by a nursing home chain's primary investor to shield himself from settlement payments and liability in lawsuits over allegations of poor care.
Politics
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Full transcript of "Face the Nation with Margaret Brennan," Dec. 21, 2025
On this "Face the Nation with Margaret Brennan" broadcast, Reps. Thomas Massie and Ro Khanna join Margaret Brennan.
U.S. Coast Guard pursuing third oil tanker off Venezuela coast, source says
If caught and seized, it would be the third Venezuelan tanker taken by the U.S. this month.
Khanna says DOJ Epstein files release was a "slap in the face" to survivors
Rep. Ro Khanna said the release of an initial tranche of files and photos related to late sex offender Jeffrey Epstein was a "slap in the face of survivors," while Rep. Thomas Massie said the DOJ is "flouting the spirit and the letter of the law."
Transcript: Reps. Thomas Massie and Ro Khanna on "Face the Nation with Margaret Brennan," Dec. 21, 2025
The following is the transcript of the interview with Reps. Thomas Massie, a Kentucky Republican, and Ro Khanna, a California Democrat, that aired on "Face the Nation with Margaret Brennan" on Dec. 21, 2025.
Transcript: UNICEF's Catherine Russell on "Face the Nation with Margaret Brennan," Dec. 21, 2025
The following is the transcript of the interview with UNICEF Executive Director Catherine Russell that aired on "Face the Nation with Margaret Brennan" on Dec. 21, 2025.
HealthWatch
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HealthWatch
Flu cases surging nationwide
Flu cases are on the rise across the country with CDC data showing more than 4 million illnesses this season resulting in roughly 2,000 deaths, including two children. Dr. Benjamin Abella, chair of emergency medicine at the Mount Sinai Health System in New York City, joined CBS News to discuss.
This professional Santa's dream of spreading holiday cheer fuels stroke recovery
Brent Rasmussen had a massive stroke in 2023. Getting his "ho ho ho back" helped motivate his recovery.
Here's how much ACA costs would have risen this year without subsidies
Millions of people with an Affordable Care Act health plan face a massive jump in premiums next year — this chart shows just how much.
Inside the FDA's vaccine uproar
A memo from Dr. Vinay Prasad, the head of the FDA's Center for Biologics Evaluation and Research, may signal an effort to to rewrite the rules governing the U.S. vaccine system.
Trump administration unveils proposals to cut off transgender care for minors
The proposals run counter to the recommendations of most major U.S. medical organizations.
World
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12 bodies found outside Guatemala City linked to gang violence, officials say
At least 12 bodies were found in three days in a wooded area on the outskirts of Guatemala City, authorities said Sunday, linking the discovery to gang violence.
MS-13 gang member sentenced to 1,335 years in prison in El Salvador
Earlier this year, the U.S. designated MS-13, which was formed in Los Angeles in the 1980s by Salvadoran immigrants, a terrorist organization.
U.S. Coast Guard pursuing third oil tanker off Venezuela coast, source says
If caught and seized, it would be the third Venezuelan tanker taken by the U.S. this month.
Thousands gather for winter solstice celebrations at Stonehenge
Many make the pilgrimage to the stone circle every summer and winter and consider it a spiritual experience.
Transcript: Reps. Thomas Massie and Ro Khanna on "Face the Nation with Margaret Brennan," Dec. 21, 2025
The following is the transcript of the interview with Reps. Thomas Massie, a Kentucky Republican, and Ro Khanna, a California Democrat, that aired on "Face the Nation with Margaret Brennan" on Dec. 21, 2025.
Entertainment
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Actor James Ransone, known for his role in "The Wire," dies at 46
James Ransone, the actor who played Ziggy Sobotka in the HBO series "The Wire" and appeared in many other TV shows and movies, has died.
Young People's Chorus of NYC: "Jolly Toyland"
To mark the Christmas season, "Sunday Morning" presents a performance by the Young People's Chorus of New York City, of "Jolly Toyland," arranged by Francisco J. Nunez.
Young People's Chorus of NYC: "Deck the Halls"
"Sunday Morning" gifts to its viewers a Christmas tradition: a performance by the Young People's Chorus of New York City. They present "Deck the Halls," arranged by Francisco J. Nunez and Jim Papoulis.
Sean Ono Lennon on being caretaker of the legacy of John Lennon & Yoko Ono
The musician-songwriter-producer, who says he feels a responsibility to promote his parents' legacy, talks about the animated short inspired by their anti-war anthem, "Happy Xmas (War Is Over)," and the new HBO documentary "One to One: John & Yoko."
Extended interview: Sean Ono Lennon
In this web exclusive, Sean Ono Lennon talks with Anthony Mason about The Claypool Lennon Delirium, his musical collaboration with Les Claypool of Primus, and his upcoming jazz album. He also discusses his animated short film, "War Is Over!"; his custodianship of the musical legacy of his parents, John Lennon and Yoko Ono; how concert footage and previously-unknown private recordings came together in the documentary "One to One"; and how creating art is "a fundamental force" in his life.
Technology
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Want to work in AI? Here are the skills to master, economist says
Rapid emergence of AI will foster demand for new types of workers, including "explainers" and bias auditors, according to economist Robert Seamans.
DraftKings hopes to score big with new prediction markets app
Sports betting companies face mounting competition from rapidly growing prediction markets such as Kalshi and Polymarket.
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.
Japanese woman marries AI boyfriend
People are starting to develop lasting connections with artificial technology. Melissa J. Perry, the dean of the College of Public Health at George Mason University, joins CBS News with more details.
TikTok nears deal to avoid U.S. ban
TikTok has signed a deal to sell its U.S. operations to a group of investors in America, a source familiar with the deal tells CBS News. Jo Ling Kent has more.
Science
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Major climate research center on Trump administration chopping block
The Trump administration intends to dismantle one of the world's leading climate research institutions, in Boulder, Colorado, over what it said were concerns about "climate alarmism."
Researchers capture video of rare polar bear adoption
The footage of a bear caring for an adopted cub was captured during the annual polar bear migration along the Western Hudson Bay in Churchill, Manitoba.
Dinosaur tracks showing "herds moving in synchrony" found in Italy
Most of the footprints are elongated and made by bipeds. The best-preserved ones bear traces of at least four toes.
Interstellar comet is making its closest approach to Earth
NASA continues to aim its space telescopes at the visiting ice ball, estimated to be up to 3.5 miles in size.
Fossil footprints in Bolivia reveal dinosaurs' awkward attempts to swim
Paleontologists have discovered and documented 16,600 footprints left by theropods, the dinosaur group that includes the Tyrannosaurus rex.
Crime
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Crime
Khanna on full Epstein file release
Reps. Ro Khanna, a California Democrat, and Thomas Massie, a Kentucky Republican, who pushed for the Justice Department to release the Jeffrey Epstein files, said the problem with the release isn't that it's "taking too long" and but that Friday's release is a "slap in the face of survivors."
Police seek motive in deadly shootings
Authorities are seeking motive after the man responsible for the deadly shooting at Brown University and the murder of an MIT professor was found dead in a New Hampshire storage unit on Thursday.
Epstein survivor on partial files release
The Justice Department released a new batch of files related to convicted sex offender Jeffrey Epstein on Friday. Epstein survivor Sharlene Rochard joins with her reaction. Then, Spencer Kuvin, an attorney who represents some Epstein survivors, provides further analysis.
New photos in initial trove of Epstein files
The Justice Department on Friday released a batch of files related to convicted sex offender Jeffrey Epstein. CBS News' Erica Brown and Katrina Kaufman report.
Investigators struggled to ID Brown suspect while gunman went on to kill again
The manhunt for the Brown University shooter was complicated by the early misidentification of a person of interest and limited, low-quality video footage.
Space
More Space
Artemis 2 astronauts rehearse countdown for upcoming moon launch
NASA is gearing up to send four Artemis astronauts on looping test flight around the moon in 2026.
Woman is first wheelchair user launched into space
A German aerospace engineer made history Saturday, becoming the first wheelchair user to go into space when she took a 10-minute trip aboard a Blue Origin rocket.
Blue Origin safely launches wheelchair user to space and back
German engineer Michaela Benthaus is the first person with a significant physical handicap to reach space.
Jared Isaacman, billionaire who's flown with SpaceX, confirmed to lead NASA
President Trump withdrew Isaacman's nomination for NASA administrator in April, before nominating him again in November.
Interstellar comet is making its closest approach to Earth
NASA continues to aim its space telescopes at the visiting ice ball, estimated to be up to 3.5 miles in size.
Latest Galleries
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Notable Deaths in 2025
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
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.
"Son of Sam": A serial killer's reign of terror
Calling himself the "Son of Sam" in a letter left at one of the crime scenes, David Berkowitz claimed voices were ordering him to kill -- starting in the summer of 1976, he went on a 13-month spree of impulse killings in New York City that left six dead and seven injured
Latest CBS News Videos
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Latest CBS News Videos
Riding along on the CPKC Holiday Train
Canadian Pacific Railway decked out its first holiday train 27 years ago. Now merged with Kansas City Southern and known as CPKC, the company is delivering festive fun all across North America. Lana Zak started her travels in Milwaukee.
Inside the idea of 50-year mortgages
Carter Evans reports on the perceived benefits and downsides of 50-year mortgages.
Flu cases surging nationwide
Flu cases are on the rise across the country with CDC data showing more than 4 million illnesses this season resulting in roughly 2,000 deaths, including two children. Dr. Benjamin Abella, chair of emergency medicine at the Mount Sinai Health System in New York City, joined CBS News to discuss.
Thousands honor Bondi Beach victims
On the final night of Hanukkah, thousands came to Bondi Beach to honor the victims of last week's targeted attack in Australia. Leigh Kiniry has more.
Power coming back online in San Francisco
Most of the lights in San Francisco are back on after a power outage left about 130,000 customers in the dark. Nicole Valdes has more.