Federal Reserve hikes key interest rate again
The Federal Reserve raised its benchmark interest rate by 0.75 percentage point as it tries to slow spending to lower inflation without pushing the economy into a recession.
Inflation
Discount stores raising prices at higher rate amid inflation
Prices for meat, poultry, fish, eggs and dairy products increased at a higher rate at discount stores.
Interest rate hike expected
While the cost of groceries and rent are still rising, the Federal Reserve is expected to hike interest rates again today in an effort to quell high inflation. Nancy Cordes reports from the White House.
Who will interest rate hike affect the most?
The Federal Reserve is expected to announce a third consecutive interest rate hike Wednesday. This action would be the fifth rate increase this year. Mark Hamrick, a senior economic analyst for Bankrate.com, joined CBS News to discuss what's behind this likely action and how it would impact Americans.
Stocks tumble on Wall Street as Fed escalates inflation fight
Fed raised key interest rate by three-quarters of a percentage point and signaled it plans to keep rates higher longer.
Fed hikes key interest rate another 0.75 percentage point
Borrowing costs rose to their highest level in 14 years, and more interest-rate hikes are likely, Fed signaled.
This is how the Fed's latest interest-rate hike will affect you
The central bank said it is boosting rates by 0.75 percentage point. Expect to pay more for credit card debt and loans.
Alaskans receive over $3,000 in state oil-wealth payment checks
The $1.6 billion in direct deposits "will provide much needed relief as we head into winter," Governor Mike Dunleavy said.
Fed expected to raise interest rates again
The Federal Reserve is expected to raise interest rates for a fifth time Wednesday as part of ongoing efforts to curb inflation. Thomas Hogan, a senior fellow at the American Institute for Economic Research, joined CBS News to discuss the immediate and long-term impacts of the increase.
Another interest rate hike expected
As President Biden sets off to attend the U.N. General Assembly in New York Tuesday, the Federal Reserve is expected to hike interest rates again on Wednesday in an effort to quell high inflation. Nancy Cordes reports from the White House.
Heating costs expected to jump this winter
Americans are expected to pay more to heat their homes this winter compared to last year. Mark Wolfe, executive director of the National Energy Assistance Directors' Association, explains what's behind the jump in costs.
Winter heating and electric bills set to surge to 10-year high
Americans could pay as much as 17% more to heat their homes this winter, with electricity costs also expected to jump.
The strong U.S. dollar impacts everyone. Here's how.
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Stocks rise amid expectations of another big rate hike
But "markets have good reason to be braced for headwinds," one analyst said of expectations Fed will hike rates this week.
Workers lose ground to inflation
CBS News senior national correspondent Mark Strassmann reports from Los Angeles on fears that inflation may be much more entrenched and sticky than previously thought.
Markets fall to close out week
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More Americans opting to "buy now, pay later"
To compensate for higher costs of living, more Americans are resorting to "buy now, pay later" plans, and regulations have not kept up with the new digital offerings. Finance reporter Ken Sweet from The Associated Press joins CBS News to discuss the risks for consumers.
Reaction to jobs and retail rales reports
David Kelly, the chief global strategist for J.P. Morgan Asset Management, joins CBS News to discuss the drop in first-time jobless claims last week and last month's rise in retail sales. He also shares his expectations for next week's highly anticipated Federal Reserve meeting.
Inflation threatening American farmers
The tentative agreement between railway companies and its workers is welcome news to farmers who depend on trains to transport their goods. But it's not the only issue in America threatening farmers. Mark McHargue, president of the Nebraska Farm Bureau, joined CBS News to discuss the impact inflation has had on farms across the country.
Fed announces 0.75% rate hike
The Federal Reserve announced it is raising its benchmark interest rate by three-quarters of a percentage point, the sharpest hike since 1994, as it seeks to combat the biggest surge in U.S. inflation in four decades. CBS News senior White House and political correspondent Ed O'Keefe and Stephen Gandel, news editor for The New York Times' DealBook, join CBS News to discuss the implications of the decision.
Mom shares how inflation has changed her life
As inflation increases the cost of living, many families are finding themselves forced to quickly adapt to a new environment where their dollars don't go as far. Claudia Hernandez, a single mom, discussed the changes she has had to make for herself and her daughter, Isabella, in response to higher prices. While it's hard to cut back, Hernandez has done so with optimism for the future and has become resourceful with ways in which she is making sure she's taking care of her daughter and herself. She spoke with Anne-Marie Green and Vladimir Duthiers about how inflation has impacted her life and the lessons she's teaching her daughter about financial responsibility.
MoneyWatch: U.S. mortgage rates top 6%
The average mortgage interest rate in the U.S. rose above 6% for the first time since 2008, and applications have fallen to their lowest level in over two decades. BancAlliance president Lori Bettinger joins "CBS News Mornings" to discuss.
Yellen on inflation, potential rail strike
Investors on Wall Street are pessimistic on inflation after August's Consumer Price Index report showed prices rising. CBS News chief White House correspondent Nancy Cordes spoke with Treasury Secretary Janet Yellen about the state of the economy and the impact of a potential rail strike.
Treasury secretary on inflation, looming rail strike
The Biden administration is working to avoid a rail strike that could derail the economy that's already been slowed by record inflation. Nancy Cordes spoke to Treasury Secretary Janet Yellen about the looming strike and rising prices.
Yellen says inflation "remains a problem"
Inflation "obviously is of tremendous concern to Americans," the treasury secretary told CBS News chief White House correspondent Nancy Cordes in an interview.
Live
U.S. carrier in Iran war set to leave in days as official reveals conflict's cost
The USS Gerald R. Ford aircraft carrier is expected to leave the Middle East in the coming days, a U.S. official confirmed to CBS News.
Secret Service officer shot at gala was not hit by friendly fire, sources say
Federal investigators have also determined that the suspected gunman, 31-year-old Cole Allen, fired his shotgun, the sources said.
Supreme Court weakens Voting Rights Act, voiding Louisiana congressional map
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Live
Live Updates: King Charles and Queen Camilla in NYC
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Trump speaks with Putin on Ukraine, Iran
President Trump said he and Russian President Vladimir Putin spoke Wednesday about Ukraine and Iran.
Elon Musk tells court he was a "fool" for funding OpenAI
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Comey appears in court after his indictment for allegedly threatening Trump
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Talks to bail out Spirit Airlines stall as company teeters toward collapse
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Investigation
How a company likened to a sex cult is lobbying Trump for pardons
OneTaste, a company in San Francisco that prosecutors likened to a sex cult, has embarked on a campaign to court allies of President Trump as it seeks pardons for its two convicted leaders, CBS News has learned.
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Elon Musk tells court he was a "fool" for funding OpenAI
Elon Musk alleges that OpenAI reneged on a promise to operate as a nonprofit dedicated to human progress.
Ford to receive $1.3 billion government refund for Trump's IEEPA tariffs
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Secret Service officer shot at gala was not hit by friendly fire, sources say
Federal investigators have also determined that the suspected gunman, 31-year-old Cole Allen, fired his shotgun, the sources said.
A train ride, selfie and more: What DOJ says happened before press gala shooting
Cole Allen allegedly started planning the attack at the White House Correspondents' Dinner three weeks ago, a new court document filed by prosecutors says.
Powell to stay on Federal Reserve board as policy makers hold rates steady
Fed chief Jerome Powell said he will remain as a governor on the central bank's board after his term as chair ends on May 15.
MoneyWatch
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Elon Musk tells court he was a "fool" for funding OpenAI
Elon Musk alleges that OpenAI reneged on a promise to operate as a nonprofit dedicated to human progress.
Ford to receive $1.3 billion government refund for Trump's IEEPA tariffs
Detroit automaker expects big financial boost from refund of tariffs struck down earlier this year by the Supreme Court.
Talks to bail out Spirit Airlines stall as company teeters toward collapse
Spirit Airlines only has enough available cash to continue operations for a matter of days, not weeks, and talks for a government-backed rescue of the no-frills carrier have stalled, sources say.
Powell to stay on Federal Reserve board as policy makers hold rates steady
Fed chief Jerome Powell said he will remain as a governor on the central bank's board after his term as chair ends on May 15.
TSA PreCheck offers discount to younger travelers. Here's what to know.
TSA is trying to encourage young travelers to enroll in its PreCheck program before summer travel kicks off.
Politics
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Secret Service officer shot at gala was not hit by friendly fire, sources say
Federal investigators have also determined that the suspected gunman, 31-year-old Cole Allen, fired his shotgun, the sources said.
Talks to bail out Spirit Airlines stall as company teeters toward collapse
Spirit Airlines only has enough available cash to continue operations for a matter of days, not weeks, and talks for a government-backed rescue of the no-frills carrier have stalled, sources say.
Trump speaks with Putin on Ukraine, Iran
President Trump said he and Russian President Vladimir Putin spoke Wednesday about Ukraine and Iran.
A train ride, selfie and more: What DOJ says happened before press gala shooting
Cole Allen allegedly started planning the attack at the White House Correspondents' Dinner three weeks ago, a new court document filed by prosecutors says.
Comey appears in court after his indictment for allegedly threatening Trump
Former FBI Director James Comey was indicted Tuesday for allegedly making threats against President Trump.
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Big companies position themselves for payday from $50B federal rural health fund
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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
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World
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How Ukraine's demining robots could help U.S. open the Strait of Hormuz
Ukraine has perfected demining techniques in the Black Sea over four years of war against Russia.
Robot exploring France's deepest shipwreck finds cannons, ceramics
An army survey of the seabed uncovered the 16th-century merchant ship by chance in waters off the coast of France.
From a brooch to the queen's iPod: A history of gifts between U.S. and U.K.
King Charles surprised President Trump with the bell from the HMS Trump, a World War II-era British submarine, during this week's visit.
Iran war has cost $25 billion to date, defense official says
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9 people arrested in massive raids on religious sect in U.K.
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Entertainment
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Entertainment
Wilmer Valderrama on his 200th "NCIS" episode
As "NCIS" nears the highly-anticipated finale of season 23, it will also be star Wilmer Valderama's 200th episode on the show. He reflects on his time on the series and reveals the season finale will have "a lot of danger," adding, "we're setting a crazy tone for next season."
Reshaping the conversation about aging
Constance Zimmer, who co-hosts the podcast "Talk 50 to Me," talks about reframing the conversation among women about aging. The podcast features interviews with women in their 50s, talking about the realities of midlife.
FCC orders review of ABC broadcast licenses
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FCC reviewing ABC licenses amid Kimmel feud
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FCC reviewing Disney licenses over DEI practices
One day after President Trump called on ABC to fire late-night host Jimmy Kimmel, the FCC said it will begin reviewing eight broadcasting licenses owned or managed by Disney due to the company's diversity policies. CBS News senior White House and political correspondent Ed O'Keefe has the latest.
Technology
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Elon Musk tells court he was a "fool" for funding OpenAI
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Comparing popular smartwatches right now
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How AI powered robots are helping small farms
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Musk testifies for 2nd day in OpenAI trial
Elon Musk testified for a second day on Wednesday in a trial that's pitting two tech titans against each other. Paresh Dave, senior writer at Wired, joins CBS News to discuss.
Legal battle between Elon Musk and Sam Altman
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Saving the Venus fly trap
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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.
Crime
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Crime
James Comey makes court appearance
Former FBI Director James Comey made his first court appearance in Virginia on Wednesday, charged with threatening President Trump. A grand jury indicted Comey yesterday over a social media post he made last year. CBS News Department of Justice reporter Jake Rosen has more.
DOJ releases new images of D.C. shooting suspect
Federal prosecutors have released new evidence in their case against the man accused of trying to assassinate President Trump at Saturday's White House Correspondents' Dinner. CBS News' Anna Schecter has the details.
DOJ releases new photo of dinner shooting suspect
A new Justice Department court filing details the suspect's actions in the minutes before the White House Correspondents' Dinner shooting. CBS News' Anna Schecter reports.
Company courts Trump allies for pardons
A company prosecutors likened to a sex cult is courting allies of President Trump for clemency. CBS News investigative reporter Gabe Kaminsky has the details.
Sexual wellness company lobbies for pardons
San Francisco-based sexual wellness company OneTaste is lobbying for clemency through allies of President Trump for its former CEO and founder, Nicole Daedone, and former head of sales Rachel Cherwitz, who were both sentenced to more than five years in prison for forced labor conspiracy. CBS News' Shanelle Kaul has more.
Space
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SpaceX launches Falcon Heavy rocket carrying powerful satellite
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Mars rover carries out chemistry experiment never done beyond Earth
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Blue Origin New Glenn rocket puts satellite payload into wrong orbit
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Artemis II crew on historic moon mission and what it means for Earth
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Artemis II astronauts still awed by moonshot experience: "It was otherworldly"
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Lawmakers press Hegseth about troop deaths
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