U.S. stocks soar to 3-month high as inflation falls in July
Latest inflation data bolsters hopes that consumer prices have peaked and that the Fed can temper interest rate hikes.
Inflation
Inflation slowed in July, showing Fed's rate hikes are working
Consumer prices rose 8.5% over the past 12 months, marking a slowdown but still painfully high for millions of Americans.
MoneyWatch: Signs inflation is slowing
July's Consumer Price Index report showed a 8.5% annual inflation rate, down from 9.1% in June, which was the highest in over 40 years. The Wall Street Journal's Akani Otani joins CBS News with more on the economic impact.
8/10: CBS News Mornings
Former President Trump to be deposed in New York; Inflation impacting back-to-school shopping
Inflation rate declines a bit as gas prices drop
The annual inflation rate was 8.5% in July, a slight dip from the four-decade high of 9.1% in June. CBS News reporter Sarah Ewall-Wice breaks down what this means for American consumers.
Inflation rate down from 40-year high
The Consumer Price Index rose to 8.5% in the month of July, bringing inflation down from its 40-year high. Gas prices are falling, but the cost of food and rent are still increasing. Lori Bettinger, president of BancAlliance and the former director of the U.S. Treasury's Troubled Asset Relief Program, joined CBS News to discuss what this data means for the economy.
Biden's approval rating and economic outlook
The news of a slowly shrinking inflation rate comes amid a jump in President Joe Biden's approval rating. CBS News political correspondent Caitlin Huey-Burns joined Vladimir Duthiers and Anne-Marie Green to discuss the impact economic factors may have on the upcoming midterm elections, and the president signing the PACT act into law.
Inflation impacting back-to-school shopping
Families getting ready to send kids back to school are facing higher prices for school supplies, clothes and other items. Axios senior reporter Kelly Tyko joins "CBS News Mornings" with advice on how to save money when back-to-school shopping.
Drivers find relief at gas pump as prices drop
Americans are finally seeing relief at the pump. The average price of gas has fallen for more than 50 straight days, and the national average is on the verge of falling below $4 per gallon. Errol Barnett takes a look.
Investors await July inflation report
Investors are awaiting the July Consumer Price Index report for signs of whether inflation has started to ease after hitting another four-decade high in June. CBS News' Tanya Rivero and Elaine Quijano speak with Rick Newman, senior columnist for Yahoo Finance, about the state of the economy.
Making sense of the economy
The U.S. economy added 528,000 jobs in July. However, the GDP has shrunk $125 million since the end of 2021, despite adding 3.3 million jobs in that time. Washington Post global economics correspondent David J. Lynch joins CBS News to help make sense of the contradictions.
Senate passes climate, health and tax bill in major win for Democrats
The bill's passage is a significant achievement for Democrats as they look to maintain their hold on Congress in the November midterm elections.
Analyzing the state of the U.S. economy
CBS News' Tanya Rivero sits down with Joe Saluzzi, the partner and co-founder of Themis Trading, to discuss the state of the economy, including what's driving U.S. stocks, the significance of an upcoming consumer prices report and ongoing recession concerns.
Parliamentarian alters drug plan in Inflation Reduction Act before Senate vote
The Senate's nonpartisan rules arbiter has dealt a blow to Democrats' plan for curbing drug prices.
Senate Dems reach agreement on Inflation Reduction Act
Senate Democrats announced Thursday night they have reached a consensus on the Inflation Reduction Act. Sen. Kyrsten Sinema of Arizona initially harbored concerns about the bill, but said Thursday she is ready to vote in favor of it after changes were made to the tax and energy provisions. CBS congressional correspondent Scott MacFarlane discusses what this bill means for the Democrats.
Democrats on verge of major legislative victory
Senate Democrats are on the verge of a major legislative victory on a spending package aimed at tackling climate change, expanding health care and capping drug prices. Scott MacFarlane explains what's in the bill.
Senate Dems announce they have the votes to pass Inflation Reduction Act
Sen. Kyrsten Sinema, a centrist who was seen as the pivotal vote, said in a statement that she had agreed to changes in the measure's tax and energy provisions.
White House reacts to latest jobs report
CBS News' Debra Alfarone and Lana Zak sit down with CBS News chief White House correspondent Nancy Cordes to discuss how White House officials are responding to the latest jobs report, the reaction to Arizona Sen. Kyrsten Sinema's nascent support for the Inflation Reduction Act and why White House officials have summoned the Chinese ambassador.
July jobs report beats expectations
The U.S. added 528,000 jobs in July, more than double what economists had predicted. With that boost, the unemployment rate fell to 3.5%, back to pre-pandemic levels and the lowest it's been since 1969. Daniel Zhao, senior economist at Glassdoor, joins CBS News to discuss what the report indicates about the state of the economy.
Senate set to vote on tax and climate bill
Lawmakers will begin the voting on President Biden's Inflation Reduction Act in a rare weekend session. CBS News congressional correspondent Scott McFarlane joins Lana Zak and Debra Alfarone with the latest.
Stocks dip after strong jobs report offers mixed news for investors
New data on hot U.S. jobs market suggests Fed won't be reining in its aggressive rate hikes anytime soon.
Jobless claims rise to round out July
First-time unemployment claims rose the last week of July ahead of the monthly jobs report being released Friday. Despite interest rate hikes and inflation fears, a new survey shows mortgage rates are dropping. The 30-year fixed rate dropped below 5%. CBS News business analyst Jill Schlesinger explains all that means for the state of the economy.
Some Americans turn to home gardens amid inflation
As inflation pushes grocery prices to a four-decade high, some Americans have turned to growing their own food to shrink their grocery bill. Janet Shamlian takes a look.
Home gardens rise in popularity amid high inflation
One gardener estimates she's saving $400 per month by growing her own vegetables.
U.S. gas prices fall for 7 straight weeks
The cost of a gallon of gas continues to fall in the U.S. Ellen Wald, senior fellow at the Atlantic Council's Global Energy Center, joins "CBS News Mornings" to discuss what's helping ease the pain at the pump.
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