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.
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.
Pirro brought box of evidence to show Trump what caused Reflecting Pool damage
U.S. Attorney for D.C. Jeanine Pirro was seen with a large box as she left the White House Monday after her meeting with President Trump.
U.S. has used nearly all its stockpile of long-range missiles in Iran war, sources say
CBS News has previously reported that the U.S. has dwindling stockpiles of defensive interceptors and long-range missiles.
Live
Progress made in Strait of Hormuz talks, Rubio says
The secretary of state said progress has been made in the Iran-Oman talks but that no final agreement has been reached, adding, "We're hoping that will happen very shortly."
What to know about primaries in 5 states today: Michigan, Virginia and more
Voters are going to the polls Tuesday in five states: Michigan, Virginia, Missouri, Kansas and Washington.
Chipotle replaces jalapenos linked to Minnesota salmonella outbreak
Restaurant chain said it pulled the peppers and replaced them with product from another grower amid a food-poisoning probe.
Man carrying ammo arrested near Trump National Golf Course before president's visit
Federal authorities arrested a man who appeared to be monitoring security-planning activities at Trump National Golf Course in LA County ahead of the president's Southern California visit.
Wayward SpaceX rocket to slam into moon, leave 16-foot deep crater
The impact will not be visible to the naked eye, but photos are expected to come from a lunar satellite at a later time.
FBI not conducting civil rights probe into ICE shooting in Maine, sources say
The deadly encounter between an ICE officer and Johan Sebastián Durán Guerrero on July 13 in Biddeford, Maine, is the latest in a growing string of clashes between civilians and ICE agents.
Mike Lindell stepping down as MyPillow CEO to focus on Minnesota governor's race
Mike Lindell is stepping down as CEO of MyPillow to focus on his campaign for governor of Minnesota, the company announced Tuesday.
U.S.
More U.S.
Ollivant projected to win GOP primary in battleground Virginia district
Republican Douglas Ollivant will run against Democratic Rep. Eugene Vindman in November.
Idaho In-N-Out shooting victims remembered by loved ones: "She lit up a room"
Three people were killed and seven others were wounded in the Saturday attack in Twin Falls, Idaho. The gunman died of a self-inflicted gunshot wound, officials said.
State Department revokes visa of Brazil's ambassador to the U.S.
A senior State Department official said the visa would be reinstated immediately if Brazil grants diplomatic approval for President Trump's nominee for U.S. ambassador to Brazil, Daniel Perez.
Man carrying ammunition arrested near Trump National Golf Club before president's visit
Federal authorities arrested a man who appeared to be monitoring security-planning activities at Trump National Golf Club in LA County ahead of the president's Southern California visit.
SpaceX shows strong growth in its first earnings report since IPO
Elon Musk's rocket, satellite and AI provider reported quarterly revenue of $7.8 billion, topping Wall Street forecasts.
MoneyWatch
More MoneyWatch
SpaceX shows strong growth in its first earnings report since IPO
Elon Musk's rocket, satellite and AI provider reported quarterly revenue of $7.8 billion, topping Wall Street forecasts.
Chipotle removes jalapenos linked to Minnesota salmonella outbreak
The restaurant chain said it pulled the peppers and replaced them with product from another grower amid a food-poisoning probe.
Dow soars 900 points on strong corporate profits, hopes of Iran deal
Stocks notched new record highs on Tuesday as oil prices dipped and companies reported healthy profits.
More adult children live at home now than during the pandemic
One woman in her mid-30s said her $60,000 annual income wasn't enough to cover all her bills after a breakup, leading her to move back home.
"Peanut butter" pay raises are out, as employers shift to merit hikes
Here's what employees can expect for a raise in 2027 as companies move away from broad-based pay increases.
Politics
More Politics
Shannon Taylor wins Democratic primary in Virginia's 1st District
Virginia Democrats are refocusing on a handful of GOP-held seats in Virginia after the state Supreme Court struck down a redrawn congressional map that favored Democrats in all but one district.
Ollivant projected to win GOP primary in battleground Virginia district
Republican Douglas Ollivant will run against Democratic Rep. Eugene Vindman in November.
Virginia's 2nd District to see rematch between Kiggans, Luria
Democrat Elaine Luria, who previously served four years in Congress, lost to Republican Rep. Jennifer Kiggans in 2022.
State Department revokes visa of Brazil's ambassador to the U.S.
A senior State Department official said the visa would be reinstated immediately if Brazil grants diplomatic approval for President Trump's nominee for U.S. ambassador to Brazil, Daniel Perez.
Man carrying ammunition arrested near Trump National Golf Club before president's visit
Federal authorities arrested a man who appeared to be monitoring security-planning activities at Trump National Golf Club in LA County ahead of the president's Southern California visit.
HealthWatch
More HealthWatch
HealthWatch
Chipotle suspected in salmonella outbreak
At least 110 people have fallen ill from salmonella in Minnesota, the vast majority of whom reported having eaten at the Mexican chain Chipotle. Tom Hanson has the story.
Michigan reports 2 cyclosporiasis deaths
Two people have died of cyclosporiasis in Michigan, officials said Monday, as the state battles the worst outbreak of the disease in the country. Carter Evans has the details.
Michigan health officials report 2 deaths among cyclosporiasis cases
Two Michigan residents who had "significant underlying health conditions" have died after contracting cyclosporiasis, the Michigan Department of Health and Human Services said.
RFK Jr., Oz blame ACA enrollment drop on fraud, but experts cite rising costs
Rising premiums forced many people in Affordable Care Act plans to give up their coverage. But the Trump administration claims a huge drop in enrollment is almost entirely due to its fraud crackdown.
She went to "hell and back" for a diagnosis. Then her sister showed symptoms.
Megan Kaverman's weight gain, fatigue, high blood pressure and other symptoms were dismissed for years before she was diagnosed with a rare heart disease.
World
More World
State Department revokes visa of Brazil's ambassador to the U.S.
A senior State Department official said the visa would be reinstated immediately if Brazil grants diplomatic approval for President Trump's nominee for U.S. ambassador to Brazil, Daniel Perez.
U.S. has used nearly all its stockpile of long-range missiles, sources say
CBS News has previously reported that the U.S. has dwindling stockpiles of defensive interceptors and long-range missiles.
Nazi ships, mammoth bones emerge as Danube River dries up
Water levels on the Danube River have dropped so low that dozens of World War II German battleships – and even the remains of an ancient woolly mammoth — are emerging into view.
Dramatic photos show lava spewing from Fuego volcano in Guatemala
Guatemalan officials on Monday began evacuating two villages near the Fuego volcano due to the ongoing eruption.
Gaza holds mass funeral for extended family recovered from wartime rubble
Authorities described this as the Gaza Strip's biggest mass funeral since the war began, mourning dozens of people, including women and children, recently recovered from the rubble.
Entertainment
More Entertainment
Entertainment
Ariana Grande on her plans to take break
One day after announcing she'll step back from the spotlight after her tour ends, Ariana Grande spoke directly to fans at Monday night's show in Chicago. The singer said the decision was her own and "was made from a thoughtful and empowered place."
Jordan Roth talks "The Shards"
Tony Award-winning producer Jordan Roth talks about starring in the "The Shards" and describes what it was like to go from behind the scenes on Broadway to making his major on-screen acting debut.
Hollywood on hot streak at the box office
"Spider-Man: Brand New Day" leapt straight to the top of the box office this weekend. Its $360 million opening weekend debut is the biggest in U.S. history. Marlow Stern, chief correspondent at Variety, joins CBS News to discuss all the latest movie news.
"My Favorite Person" takes over socials
A social media trend encouraging users to share what they love about their favorite person is bringing light to TikTok and other platforms.
Ariana Grande to step out of public eye
A representative for pop star Ariana Grande says the singer is planning to step out of the public eye after wrapping her ongoing Eternal Sunshine Tour amid "endless, ongoing public scrutiny." Grande has also dropped out of the London-based musical "Sunday in the Park with George," which is set to open next year.
Technology
More Technology
SpaceX shows strong growth in its first earnings report since IPO
Elon Musk's rocket, satellite and AI provider reported quarterly revenue of $7.8 billion, topping Wall Street forecasts.
Top AI execs may meet with Trump officials
Top executives from leading artificial intelligence companies are set to meet with White House officials, according to media reports. Ian Krietzberg, an AI correspondent for Puck News, has more.
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.
Trump administration finalizes AI framework, official says
The order asks AI companies to share previews of powerful new models with the government before they are released to the public.
U.S. probes cyberattack on water systems
Lauryn Williams, the deputy director and senior fellow of the Strategic Technologies Program at the Center for Strategic and International Studies, joins to discuss the U.S. probe into Iran possibly targeting water systems in Michigan and Minnesota.
Science
More Science
Dramatic photos show lava spewing from Fuego volcano in Guatemala
Guatemalan officials on Monday began evacuating two villages near the Fuego volcano due to the ongoing eruption.
Rare footage of humpback whale birth captured on drone video
The footage is believed to be only the fourth complete humpback whale birth ever recorded on film anywhere in the world and the first-ever captured by drone.
Rare video shows humpback whale birth
A photographer operating a drone off the coast of Australia captured a humpback whale giving birth. It's believed to be the first time such a birth has been recorded by a drone.
How plants feel
Science shows us that, even though plants don't have brains, they seem to have a nervous system that responds to touch in remarkable ways. Robert Krulwich and puppeteer Barnaby Dixon explore the science of thigmomorphogenesis (the phenomenon of plants reacting to outside stimulae), a discussion that plants the seeds for a song.
Nearly 30 beluga whales sent to the U.S.
Nearly 30 beluga whales were sent to aquariums across the U.S. in a multinational emergency operation after their home aquarium in Canada shuttered. Jared Ochacher reports.
Crime
More Crime
Crime
Lindsay Clancy speaks in court for first time
Lindsay Clancy, the woman accused of first-degree murder in the deaths of her three children, spoke in court Tuesday. CBS News' Shanelle Kaul reports.
Lindsay Clancy testifies in court
Lindsay Clancy, the woman accused of killing her three young children in what her defense says was an episode of postpartum psychosis, testified in court for the first time on Tuesday as her trial progresses. Shanelle Kaul has more.
Idaho In-N-Out shooting victims remembered by loved ones: "She lit up a room"
Three people were killed and seven others were wounded in the Saturday attack in Twin Falls, Idaho. The gunman died of a self-inflicted gunshot wound, officials said.
Police actions in Guthrie case under scrutiny
The Wall Street Journal's Valerie Bauerlein joins CBS News to discuss her reporting on crucial missteps made by authorities in the days following the disappearance of Nancy Guthrie, mother of "Today" show host Savannah Guthrie.
Officials give update on Spokane fire arrest
A man is under arrest for allegedly setting one of three major wildfires in the Spokane, Washington, area. Meanwhile, thousands have been evacuated from the area as fires rage. KREM reporter Regan Gallo has more.
Space
More Space
Wayward SpaceX rocket to slam into moon, leave 16-foot-deep crater
The impact will not be visible to the naked eye, but photos are expected to come from a lunar satellite at a later time.
Russian Soyuz brings three home after 8 months at space station
The Soyuz MS-28 landing in Kazakhstan brought a 241-day stay in space to a successful conclusion.
SpaceX's Super Heavy-Starship blasts off on 13th test flight
An upgraded version of the world's most powerful rocket is key to landing NASA astronauts on the moon in the agency's Artemis program.
Meteorite that hit home contains "alien world chemistry," experts say
When scientists examined the preserved fragments of a meteorite that crashed in 2024, they found brine-like fluids and key molecules.
Russian Soyuz rocket launches fresh crew to space station
The new crew will replace three other Soyuz fliers wrapping up a 240-day stay aboard the International Space Station.
Latest Galleries
More Latest Galleries
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.
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.
Investigating the death of designer Sylvie Cachay
Sylvie Cachay was found dead in an overflowing bathtub at the exclusive Soho House in New York City on Dec. 9, 2010. A water leak at the hotel gave away a timeline that may have revealed her killer.
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.
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
More Latest CBS News Videos
Latest CBS News Videos
DHS: Man dies in ICE custody in New Jersey
The Department of Homeland Security has confirmed the death of a detainee at a controversial immigration center in New Jersey. CBS News' Camilo Montoya-Galvez reports.
Breaking down El-Sayed vs. Stevens in Michigan
Michigan Democrats Abdul El-Sayed and Haley Stevens are facing off in a key Senate primary on Tuesday. Ed O'Keefe has the details.
Lindsay Clancy speaks in court for first time
Lindsay Clancy, the woman accused of first-degree murder in the deaths of her three children, spoke in court Tuesday. CBS News' Shanelle Kaul reports.
Latest on El-Sayed vs. Stevens
Abdul El-Sayed and Rep. Haley Stevens are wrapping up their Democratic Senate primary in Michigan on Tuesday. CBS News' Fin Gómez has the latest reporting on the race and political strategists Chuck Rocha and Terry Sullivan share their thoughts.
Lindsay Clancy testifies in court
Lindsay Clancy, the woman accused of killing her three young children in what her defense says was an episode of postpartum psychosis, testified in court for the first time on Tuesday as her trial progresses. Shanelle Kaul has more.