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.
Inflation
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.
Value of U.S. dollar has been on a more-than-a-year-long tear that many experts don't see ending anytime soon.
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
All three major stock indexes ended the week with losses for the fourth time in five weeks. Victoria Fernandez, chief market strategist at Crossmark Global Investments, joins CBS News to discuss what it means for the U.S. economy.
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.
U.S. stocks rally to close higher after sharp selloff
"A sustained rally is likely to require clear evidence that inflation is on a downward trend," a UBS analyst said.
Wholesale prices up 8.7% since last year
The new wholesale prices report is echoing Wall Street's concerns that inflation isn't easing quickly enough. It comes on the heels of the worst day for stocks in more than two years. Matt Sapaula, founder of Money Smart Guy, joined CBS News to discuss.
Live
U.S. wraps up 3rd night of Iran strikes as Trump vows to "keep" Strait of Hormuz
President Trump says the U.S. will "probably run" the Strait of Hormuz, as dueling attacks with Iran continue over control of the strategic waterway.
Darline Graham Nordone, Lindsey Graham's sister, appointed to fill Senate seat
South Carolina Gov. Henry McMaster announced his pick to fill the vacancy left by Sen. Lindsey Graham's death.
Man fatally shot by ICE in Maine was not intended target of warrant, lawmakers say
Maine Sen. Angus King said he told Homeland Security Secretary Markwayne Mullin that he wanted a transparent investigation into the shooting in Biddeford.
Deputy U.S. marshal shot dead serving arrest warrant in Louisiana, agency says
A deputy U.S. marshal was shot and killed while serving an arrest warrant on a fugitive in Louisiana, authorities say. The suspect is in custody.
First on CBS
Video shows NBA's Brandon Clarke stopped by police 6 weeks before his death
Arkansas police said they found bags of capsules containing a green powdery substance in Brandon Clarke's car, which he told them was kratom.
Military action against Iran formally restarted last week, Trump told lawmakers
President Trump formally notified Congress that "military action" against Iran restarted last week in a letter obtained by CBS News, as a monthslong ceasefire comes to an end.
Sen. Lindsey Graham just died of aorta disease. My husband did too.
Lindsey Graham's aorta tore at 71. Grant Wahl's burst at 49. One is common and age-driven; the other is inherited, silent, and findable.
Judge rebukes Trump and DOJ over IRS lawsuit in scathing decision
U.S. District Judge Kathleen Williams said President Trump's lawsuit against the IRS had been filed for an "improper purpose."
Investigation
Innocent bystander shot by police is one of dozens of cases nationwide
CBS News reviewed police records, body camera footage, court documents and local news reports to find more than 50 cases of innocent bystanders shot by police.
U.S.
More U.S.
Deputy U.S. marshal shot dead serving arrest warrant in Louisiana, agency says
A deputy U.S. marshal was shot and killed while serving an arrest warrant on a fugitive in Louisiana, authorities say. The suspect is in custody.
First on CBS
Video shows NBA's Brandon Clarke stopped by police 6 weeks before his death
Arkansas police said they found bags of capsules containing a green powdery substance in Brandon Clarke's car, which he told them was kratom.
Sen. Lindsey Graham just died of aorta disease. My husband did too.
Lindsey Graham's aorta tore at 71. Grant Wahl's burst at 49. One is common and age-driven; the other is inherited, silent, and findable.
Sources: FBI fires 2 analysts who raised concerns about Georgia 2020 election probe
The two analysts expressed concerns that the 2020 election investigation in Fulton County, Georgia, was thin on evidence, sources said.
Investigation
Innocent bystander shot by police is one of dozens of cases nationwide
CBS News reviewed police records, body camera footage, court documents and local news reports to find more than 50 cases of innocent bystanders shot by police.
MoneyWatch
More MoneyWatch
AI companies are creating "generative ghosts" of deceased loved ones
Startups are using emails, photos and voice recordings to create AI simulations that family and friends can interact with after a loved one's death.
12 states sue to block Paramount-Warner Bros. Discovery merger
The suit poses a new challenge to the $110 billion deal that would unite two of the nation's largest media companies.
Millions of Americans take on debt and drain savings to afford food
A quarter of working-age adults use credit cards to purchase groceries but struggle to repay their debts, a new study finds.
High energy costs from Iran war heighten pressure on struggling farmers
As the agriculture industry in Louisiana contends with major energy cost hikes brought on by the Iran war, some farmers are unsure if their businesses will survive.
Bipartisan housing bill becomes law after Trump refuses to sign it
A landmark housing bill automatically became law overnight after President Trump declined to sign it.
Politics
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Military action against Iran formally restarted last week, Trump told lawmakers
President Trump formally notified Congress that "military action" against Iran restarted last week in a letter obtained by CBS News, as a monthslong ceasefire comes to an end.
Sources: FBI fires 2 analysts who raised concerns about Georgia 2020 election probe
The two analysts expressed concerns that the 2020 election investigation in Fulton County, Georgia, was thin on evidence, sources said.
Judge rebukes Trump and DOJ over IRS lawsuit in scathing decision
U.S. District Judge Kathleen Williams said President Trump's lawsuit against the IRS had been filed for an "improper purpose."
Who could replace Lindsey Graham in the Senate after his sudden death?
South Carolina Sen. Lindsey Graham's sudden death late Saturday has set off a scramble for who will succeed him in the Senate.
Darline Graham Nordone, Lindsey Graham's sister, appointed to fill Senate seat
South Carolina Gov. Henry McMaster announced his pick to fill the vacancy left by Sen. Lindsey Graham's death.
HealthWatch
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Sen. Lindsey Graham just died of aorta disease. My husband did too.
Lindsey Graham's aorta tore at 71. Grant Wahl's burst at 49. One is common and age-driven; the other is inherited, silent, and findable.
Common knee surgery may do more harm than good, 10-year study shows
A Finnish study followed patients for 10 years after they had a popular knee surgery. For many, the pain continued or even worsened.
New Jersey works to destroy firefighting foam laced with cancer-linked PFAS
New Jersey is one of more than a dozen states that are working to collect, remove and destroy all of their aqueous film-forming foam.
Departments getting rid of firefighting foam
Fire departments across the U.S. are changing how they extinguish fires. For decades, they used foam that contained so-called "forever chemicals" that are now linked to cancer. More than a dozen states are now working to collect, remove and destroy all of it. Mark Strassmann has more.
U.S. citizen working in Congo tests positive for Ebola, CDC says
The Africa Centres for Disease Control and Prevention said the outbreak is the fastest-growing Ebola outbreak recorded on the continent.
World
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Music group "still shocked" after bandmates killed in small plane crash
Surviving members of the beloved Bahamian musical group Da Pond Band are speaking out about their friends who were killed when a small plane crashed in the Bahamas on Friday, killing 10 people.
Military action against Iran formally restarted last week, Trump told lawmakers
President Trump formally notified Congress that "military action" against Iran restarted last week in a letter obtained by CBS News, as a monthslong ceasefire comes to an end.
Astronomers discover sugar in space that's also found in raspberries
The sugar, called erythrulose, lurks in what's called the interstellar medium: thin clouds of gas and dust littered between stars.
British counterterrorism police lead probe into murder of politician
British counterterrorism police are now leading the investigation into the death of Ann Widdecombe after "new information and evidence" came to light.
Trump says U.S. reinstating Iran blockade in Strait of Hormuz
Trump says the U.S. will be known as "THE GUARDIAN OF THE HORMUZ STRAIT," and will charge 20% on all cargo shipped via the waterway to cover security costs.
Entertainment
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Entertainment
States sue to block Paramount-WBD merger
A coalition of a dozen states on Monday sued to block Paramount Skydance's acquisition of Warner Bros. Discovery, posing a new challenge to the $110 billion deal that would unite two of the nation's largest media companies. Paramount Skydance is the parent company of CBS News. CBS News' Jo Ling Kent reports.
Mick Jagger on music and politics
Mick Jagger spoke with The New York Times recently about the role of politics in his music. Political strategists Erin Maguire and Dan Kanninen join "The Takeout" to discuss.
"Jurassic Park" star dies at 78
Actor Sam Neill, who starred in "Jurassic Park" and "The Piano," died Monday at the age of 78, his family said in a statement. Neill had been battling cancer, but his family said he had beaten it and his death was unexpected.
Extended interview: Sean Evans
Vladimir Duthiers speaks with Sean Evans about how he came to host "Hot Ones," his interview with Conan O'Brien, who he would like to see on the show and more.
Sam Neill, "Jurassic Park" and "The Piano" star, dies at 78
New Zealand actor Sam Neill, known for "Jurassic Park" and "The Piano," died Monday at 78, his family says.
Technology
More Technology
AI companies are creating "generative ghosts" of deceased loved ones
Startups are using emails, photos and voice recordings to create AI simulations that family and friends can interact with after a loved one's death.
Family says they're forced to sell home to help power data centers
Georgia Power says building a new transmission line will require acquiring more than 300 parcels of land, including residential properties.
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.
Apple sues OpenAI, accusing ChatGPT maker of stealing trade secrets
Apple alleges that OpenAI and two of its employees stole trade secrets and engaged in a "pattern of misconduct."
AI slop floods social media, report says
A new report from AI detector Pangram found that AI-generated content is flooding socials like X and Reddit, with LinkedIn accounting for nearly two-thirds of all AI content detected. Pangram CEO and co-founder Max Spero joins CBS News to discuss his findings.
Science
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Science
Disclosure Foundation head on new UFO files
The Pentagon on Friday released a new batch of UFO files, spanning 19 videos and more. Jordan Flowers, executive director of the Disclosure Foundation, joins CBS News to discuss.
Watch: Pentagon releases 19 new UFO videos
The Defense Department released a fourth batch of UFO files on Friday, nearly one month after its third drop. These are all of the videos in the latest tranche, plus analysis from astrophysicist Avi Loeb.
2,000-year-old gold rings and human bones found by archaeologists
Archaeologists have discovered eight human skeletons, bronze and gold jewelry and other artifacts indicating a ceremonial burial of wealthy people.
Telescope spots most distant quasars ever discovered
Quasars — the brightest objects in the universe — are powered by supermassive black holes at the heart of early galaxies.
The American innovation that made millions of others possible
From the lightbulb to the airplane, to medical breakthroughs and the internet age, the past 250 years have been defined by America's intrepid intellect.
Crime
More Crime
Deputy U.S. marshal shot dead serving arrest warrant in Louisiana, agency says
A deputy U.S. marshal was shot and killed while serving an arrest warrant on a fugitive in Louisiana, authorities say. The suspect is in custody.
Police chase goes through Ohio golf course
Video from the Ohio State Highway Patrol shows the chaotic chase through a golf course for a suspect wanted in a stabbing last week in Ohio. Shanelle Kaul reports.
Investigation
Innocent bystander shot by police is one of dozens of cases nationwide
CBS News reviewed police records, body camera footage, court documents and local news reports to find more than 50 cases of innocent bystanders shot by police.
Investigating police shootings of bystanders
A CBS News investigation found that no federal agency is tracking police shootings of innocent bystanders, making it difficult to hold officers accountable. CBS News' Jonathan Vigliotti reports.
British counterterrorism police lead probe into murder of politician
British counterterrorism police are now leading the investigation into the death of Ann Widdecombe after "new information and evidence" came to light.
Space
More Space
Astronomers discover sugar in space that's also found in raspberries
The sugar, called erythrulose, lurks in what's called the interstellar medium: thin clouds of gas and dust littered between stars.
Telescope spots most distant quasars ever discovered
Quasars — the brightest objects in the universe — are powered by supermassive black holes at the heart of early galaxies.
Mission launched to rescue a falling space telescope
Katalyst Space's LINK spacecraft is designed to capture and boost NASA's Swift observatory back to a safe altitude.
NASA astronauts operate on space station's broken robot arm
The orbital surgery on the International Space Station returned the Canadian-built robot arm to full health after its "wrist" joint failed last month.
NASA prepares to launch rescue to save telescope from falling to Earth
The $30 million salvage operation gets underway as soon as this week with the planned launch of a robotic lifesaver.
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.
Photos show celebrations at Obama Presidential Center
The Obama Presidential Center, museum and library opens in Chicago with a star-studded grand opening ceremony and public watch party on Midway Plaisance.
Summer music highlights of 2026
Summer is the time to enjoy live music, indoors and out. Scroll through our gallery of some of 2026's leading musical acts, featuring images by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
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?
Timeline: The disappearance of George Smith
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Latest CBS News Videos
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Latest CBS News Videos
Surviving members of Da Pond Band discuss crash
Surviving members of the beloved Bahamian musical group Da Pond Band are speaking out about their friends and bandmates who were killed when a small plane operated by Flamingo Air crashed in the Bahamas on Friday, killing all 10 people on board.
Judge rebukes Trump and DOJ over IRS lawsuit
A federal judge on Monday imposed professional penalties against lawyers representing President Trump in a civil lawsuit he brought against the IRS and harshly criticized the Justice Department for its handling of the case, concluding that the suit was brought for an "improper purpose." CBS News legal contributor Jessica Levinson has more.
States sue to block Paramount-WBD merger
A coalition of a dozen states on Monday sued to block Paramount Skydance's acquisition of Warner Bros. Discovery, posing a new challenge to the $110 billion deal that would unite two of the nation's largest media companies. Paramount Skydance is the parent company of CBS News. CBS News' Jo Ling Kent reports.
GOP strategist on memories of Lindsey Graham
Sen. Lindsey Graham is being remembered for his wit and political effectiveness after his sudden death over the weekend. Republican strategist Matt Whitlock joins CBS News to discuss.
Details on newest U.S. strikes against Iran
The United States is carrying out a third night of airstrikes against Iran. CBS News national security analyst Aaron MacLean has more.