Searing U.S. energy prices are driving the hottest inflation in years
CPI gas price index has surged 28% from a year ago, while overall energy costs are up nearly 18%, new inflation data shows.
Inflation
Inflation accelerated in April
New inflation data shows a concerning trend in April as the Iran war impacts Americans' wallets. CBS News' Kelly O'Grady reports.
New jobs data beats expectations
The U.S. added 115,000 jobs in April, but some data remains concerning. CBS News' Kelly O'Grady reports.
Vance addresses Iowa's farmers
Vice President JD Vance visited Iowa and spoke directly to farmers who are experiencing turbulent financial times amid inflation and the Iran war. CBS News' Lana Zak reports.
U.S. debt has surpassed GDP, here's why
For the first time since World War II, the U.S. national debt has surpassed the size of its economy. CBS News MoneyWatch associate managing editor Aimee Picchi has more.
How Americans prioritize spending
Consumers are cutting back on goods with sharp price increases, according to the Bureau of Economic Analysis. From December to February, spending on clothing fell 7%, spending on furniture fell 5% and spending on sports equipment fell 6%. The Wall Street Journal economics reporter Rachel Wolfe writes in her recent piece that recent inflation is not driven by consumer demand, but by companies passing on increased costs to customers. She joins "The Daily Report" to discuss.
Analyst breaks down economy amid Iran war
The national average gas price is up to $4.30 per gallon, the highest in four years, as President Trump said Thursday that gas prices "will drop like a rock" when the Iran war ends. Ted Rossman, principal analyst at Bankrate, joins "The Daily Report" with more.
GDP rose at 2% annual rate in first quarter as U.S. economy rebounds
The AI boom propped up U.S. economic growth in the first quarter, but inflation due to the Iran war is casting a cloud.
Why Fed kept rates same for third consecutive time
For its third consecutive meeting, the Federal Reserve left its benchmark interest rate unchanged. CBS News MoneyWatch correspondent Kelly O'Grady reports.
Federal Reserve holds interest rates steady
The Federal Reserve held its benchmark interest rate steady on Wednesday as the U.S. economy continues to grapple with rising inflation. CBS News MoneyWatch correspondent Kelly O'Grady has more.
Over half of Americans say their finances are worsening, Gallup finds
The impact of higher energy prices and fears about covering monthly bill is taking a toll on public sentiment, a new Gallup poll finds.
Will the Fed cut rates? Here's what to expect at Wednesday's meeting.
The Federal Reserve is contending with rising inflation amid the war and a lackluster job market, along with the departure of Fed Chair Jerome Powell.
The Iran war's economic hit could linger through 2026, economists say
Economists say Americans should expect elevated prices at the pump and rising grocery costs in the months to come.
Key moments at Warsh confirmation hearing
Kevin Warsh, President Trump's nominee to replace outgoing Federal Reserve Chair Jerome Powell, faced tense questioning from senators at his confirmation hearing on Tuesday. Here are some of the most notable exchanges.
Senators question Kevin Warsh on transparency
President Trump's nominee for the next Federal Reserve chair, Kevin Warsh, faces questions from lawmakers Tuesday during his Senate confirmation hearing. CBS News' Kelly O'Grady has the latest.
Trump speaks at Turning Point USA event
President Trump headlined a rally for Turning Point USA with Erika Kirk in Phoenix on Friday. His goal is to fire up Republican voters ahead of the midterm elections. Caitlin Huey-Burns has more details.
How war with Iran is affecting your wallet
When it comes to increased costs, the conflict with Iran appears to be affecting many aspects of American life, from transportation to food production. CBS News senior business and tech correspondent Jo Ling Kent reports.
Next stage of Iran war remains unclear
President Trump on Wednesday said the war with Iran could be over soon, repeating a refrain he's made several times in the past few weeks. CBS News chief White House correspondent Nancy Cordes has the latest.
7-Eleven plans to close 645 stores this year
The chain's North American operator forecast it will open 205 stores in 2026, although those openings will be outpaced by a series of closures.
IMF predicts rise in global inflation
The International Monetary Fund has cut its forecast for global growth, predicting a rise in global inflation and warning that the war with Iran is pushing growth lower compared to 2025. Medora Lee, money and personal finance reporter for USA Today, joins CBS News to discuss.
IMF warns of risk of global recession
The International Monetary Fund is warning about the risks of a global recession in its World Economic Outlook report as the U.S.-Israeli war with Iran impacts oil prices. CBS News business contributor Javier David has more.
Poll shows Americans worried about Iran war
New CBS News polling finds many Americans are worried about the Iran war and are skeptical that the U.S. is meeting its goals. CBS News executive director of elections and surveys Anthony Salvanto breaks down the findings.
Beef, that all-American food, is getting harder for Americans to afford
The cost of ground beef in the U.S. has soared in recent years and is forecast to jump even further in 2026. What gives?
U.S. inflation skyrockets amid Iran war
U.S. inflation surged in March, with the Consumer Price Index rising at a 3.3% annual rate due to the Iran war's impact on global energy costs.
Inflation surged in March as Iran war drove up energy costs
Inflation rose at an annual rate of 3.3% in March, driven by the sharpest monthly increase in gas prices since 1967.
More details emerge about FlyDubai co-pilot who tried to crash plane
Tennessee cancels executions after Christa Pike survives botched injection
Live
Trump renews threat to resume attacks on Iran after U.S. midterms
Investigation
U.S. surrogate for Chinese billionaire says she trusted agency, as questions arise
Dual U.K.-Iranian national arrested over air base security incident
Details emerge in case of former Cornell student alleging rape by frat members
Family of Renee Good files civil suits against federal government
