CBS Evening News, July 27, 2022
Fed hikes interest rates again amid recession fears; FBI honors 1st female special agents 50 years later
Inflation
Fed raises interest rates again
For the fourth time this year, the Federal Reserve has raised its benchmark interest rate in a bid to slow record-high inflation. Megan Cassella, a reporter for Barron's, joined CBS News' Lana Zak to discuss.
Fed hikes interest rates yet again
The Federal Reserve raised interest rates 0.75% on Wednesday. It's the fourth rate hike this year, aimed at curbing inflation while also preventing a recession. Naomi Ruchim reports on the news. Then, Major Garrett is joined by Adam Phillips, managing director of portfolio strategy at EP Wealth Advisors, to discuss what this could mean for the economy.
7/27: CBS News Mornings
New interest rate hike expected today; Russia's space shake-up.
Federal Reserve announces interest rate hike
The Federal Reserve, as expected, announced it is raising interest rates by three-quarters of a percentage point to help tamp down inflation. CBS News' Tanya Rivero and Christina Ruffini get analysis of the economic and political impact from Ted Rossman, senior industry analyst at Bankrate.com; CBS News political correspondent Caitlin Huey-Burns; and Michelle Singletary, Washington Post personal finance columnist.
Fed hikes interest rates amid recession fears
The Federal Reserve made another move to try and tamp down rising prices by raising interest rates by 3/4 of a percentage point, the fourth hike this year. Kris Van Cleave shares the latest.
Federal Reserve hikes key interest rate by another 75 basis points
The rise in the federal funds rate, which is what banks charge each other for overnight loans, comes as several significant pieces of economic data are released this week.
Federal Reserve to hike interest rates
Economists and investors are bracing for another aggressive rate hike from the Federal Reserve today. The expected move would mark the fourth rate increase this year. Frances Stacy, the director of portfolio strategy for Optimal Capital, joins CBS News' Tanya Rivero and Christina Ruffini to discuss the central bank's upcoming meeting and its significance.
Stocks rise after Fed announces second consecutive 0.75% hike
Strong financial results from Alphabet, Boeing and other corporate bellwethers helped lift investors' mood.
Fed to announce interest rate decision
The Federal Reserve is expected to announce the fourth interest rate increase of the year. They're hoping to curb inflation and prevent a recession. CBS News reporter Sarah Ewall-Wice joined Vladimir Duthiers and Jericka Duncan with a closer look at how another rate hike might impact American consumers.
Blame inflation for the rising cost of a bacon, egg and cheese
At a bodega in the Bronx, the price for New Yorkers' favorite breakfast sandwich has increased by $2.
Federal Reserve preps rate hike announcement
In an effort to curb inflation, officials at the Federal Reserve are looking to hike interest rates. Finance correspondent for Insider Aaron Wineman joins CBS News Mornings with what that could mean for American's wallets.
U.S. stocks tumble over fears of another Fed rate hike
Investors and economists are bracing for another possible interest rate hike as the Federal Reserve is set to meet this week. Dion Rabouin, a reporter for the Wall Street Journal, joins CBS News to discuss what another hike could mean for the U.S. economy.
Consumer confidence index falls again
The Conference Board's consumer confidence index fell for the third straight month in July as inflation and interest rate hikes discourage spending. Steve Odland, president and CEO of The Conference Board, speaks with CBS News' Tanya Rivero and Lana Zak about why consumers are worried.
Stocks sink after weak profit report from Walmart
Weak profit reports from some of the biggest names in corporate America are souring the mood of investors.
Yellen downplays recession risk ahead of key economic data
"We've got a very strong labor market," Treasury Secretary Janet Yellen said. "This is not an economy that's in recession."
Biden's COVID-19 symptoms almost gone, doctor says
President Biden's COVID-19 symptoms have almost completely gone away, his doctor said. CBS News political correspondent Caitlin Huey-Burns joins CBS News' Lana Zak to discuss Biden's condition, plus the White House's response to monkeypox, the upcoming GDP numbers and the semiconductor chips bill.
Republican campaign ads hammer Democrats on inflation
Democrats have spent little on ads mentioning inflation and instead are focusing on proposals to lower costs as prices soar.
Another Fed interest rate hike expected
The Federal Reserve is expected to raise its benchmark interest rate again to combat inflation. Matt Schulz, chief credit analyst for LendingTree, joined CBS News' Tanya Rivero and Nikki Battiste to discuss what Americans should know ahead of the Fed's decision.
Some Florida families to get a $450 "inflation relief" check
One-time payments will help about 59,000 households in the state, including those on welfare.
Ukraine and Russia sign deal to get vital grain shipments moving again
The agreement should see Russia drop its blockade of Ukraine's ports, where millions of tons of food have been stuck, exacerbating a global food emergency.
Consumers paying $10,000 more than "normal" for used cars
Most used vehicles aren't depreciating due to low new car inventory and strong consumer demand, study finds.
Americans filing jobless claims at highest level in 8 months
More than 250,000 people applied for unemployment benefits last week, the highest number since November.
7/20: CBS News Mornings
Dangerous heat wave hits U.S. and Europe; Package sizes for products get smaller as companies react to inflation
Dollar down after hitting parity with the euro
The U.S. dollar continues to retreat after reaching the equivalence of the euro for the first time in two decades last week. Joe Rennison, markets reporter for The New York Times, joins "CBS News Mornings" to discuss what this means for the global economy.
White House declassifies info on secret FBI probe into Trump's firing of Comey
The FBI investigated whether President Trump acted as a Russian asset when he fired James Comey, a theory an administration official said wasn't backed up by evidence.
Live
Trump says Strait of Hormuz deal could happen as soon as today
President Trump told reporters Tuesday evening that an announcement on the Strait of Hormuz could happen today or tomorrow, following talks between Iran and Oman.
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.
El-Sayed and Stevens in tight Michigan Democratic Senate primary contest
Tuesday's Michigan Democratic Senate primary race remains unsettled, with progressive Abdul El-Sayed holding onto a narrow lead over moderate Haley Stevens with votes still being counted.
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.
Rick Brattin wins Republican primary for Missouri seat redrawn to favor GOP
Trump-endorsed Rick Brattin won the GOP primary for Missouri's 5th Congressional District, CBS News projects, setting up a battle against an 11-term Democrat in a district that was made far more GOP-leaning.
Wesley Bell beats Cori Bush in Missouri Democratic House primary rematch
Rep. Wesley Bell on Tuesday beat former congresswoman Cori Bush in a heated primary in Missouri's 1st Congressional District, CBS News projects.
SpaceX rocket booster slams into moon, expected to leave large crater
The impact wasn't visible to the naked eye, but photos are expected to come from a lunar satellite at a later time.
Exercise: Your Insurance Policy for the Future
In this episode of Healthful, Norah O'Donnell is joined by her personal trainer and fitness expert, Kira Stokes.
U.S.
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Live
Trump says Strait of Hormuz deal could happen as soon as today amid talks
President Trump told reporters Tuesday evening that an announcement on the Strait of Hormuz could happen today or tomorrow, following talks between Iran and Oman.
Rick Brattin wins Republican primary for Missouri seat redrawn to favor GOP
Trump-endorsed Rick Brattin won the GOP primary for Missouri's 5th Congressional District, CBS News projects, setting up a battle against an 11-term Democrat in a district that was made far more GOP-leaning.
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.
MoneyWatch
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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 jalapeños 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
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House Democrats targeting 12 new GOP districts, including Lauren Boebert's seat
With 90 days until the midterm elections, House Democrats are expanding the map of Republican-held congressional districts they believe they can potentially flip this fall.
Live
Trump says Strait of Hormuz deal could happen as soon as today amid talks
President Trump told reporters Tuesday evening that an announcement on the Strait of Hormuz could happen today or tomorrow, following talks between Iran and Oman.
White House declassifies info on secret FBI probe into Trump's firing of Comey
The White House has declassified information claiming the FBI probed whether President Trump acted as a Russian asset when he fired James Comey, a theory an administration official said wasn't backed up by evidence.
El-Sayed and Stevens in tight Michigan Democratic Senate primary contest
Tuesday's Michigan Democratic Senate primary race remains unsettled, with progressive Abdul El-Sayed holding onto a narrow lead over moderate Haley Stevens with votes still being counted.
Democratic Rep. Gluesenkamp Perez and Trump-backed Republican advance in Washington primary
Democratic Rep. Marie Gluesenkamp Perez and Republican state Sen. John Braun will advance to a general election in Washington's 3rd District, one of the most hotly contested House contests of this year, CBS News projects.
HealthWatch
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HealthWatch
Exercise: Your Insurance Policy for the Future
In this episode of Healthful, Norah O'Donnell is joined by her personal trainer and fitness expert, Kira Stokes. Since they started exercising together 12 years ago, Kira pushed Norah to lift heavier weights - something Norah initially resisted. Norah has since learned that you lose up to 8-percent of your muscle mass every decade after the age of 30. The two discuss the emotional connection between movement and mental health, how to get started exercising, and what about those weighted vests! Plus - Norah answers what her favorite and least favorite exercises are. We'd love to hear what topics you want to hear covered on Healthful. Text Norah at 202-217-1107.
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.
World
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Popular influencer shot dead during livestream outside restaurant
Cesar Gastelum, who had more than 600,000 followers on TikTok, was broadcasting with two friends when he was killed.
Live
Trump says Strait of Hormuz deal could happen as soon as today amid talks
President Trump told reporters Tuesday evening that an announcement on the Strait of Hormuz could happen today or tomorrow, following talks between Iran and Oman.
Video shows drone attacking a street vendor in Ukraine
Ukrainian President Volodymyr Zelenskyy says the footage shows how Russian soldiers "take pleasure in killing" civilians.
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.
Entertainment
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Entertainment
Stranger rescues band from car troubles
A kind stranger named Ernie helped rock band The Autumn Kings make it to their tour stop after their car broke down in Wisconsin. Matt Gutman reports.
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.
Technology
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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
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Science
Bezos, DiCaprio set up massive wildlife fund
Hollywood actor Leonardo DiCaprio and Amazon founder Jeff Bezos have announced a $200 million fund set to protect species on the brink of extinction. Carter Evans has the story.
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.
Crime
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Popular influencer shot dead during livestream outside restaurant
Cesar Gastelum, who had more than 600,000 followers on TikTok, was broadcasting with two friends when he was killed.
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.
Space
More Space
SpaceX rocket booster slams into moon, expected to leave large crater
The impact wasn't 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.
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Investigating the death of designer Sylvie Cachay
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Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Latest CBS News Videos
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Exercise: Your Insurance Policy for the Future
In this episode of Healthful, Norah O'Donnell is joined by her personal trainer and fitness expert, Kira Stokes. Since they started exercising together 12 years ago, Kira pushed Norah to lift heavier weights - something Norah initially resisted. Norah has since learned that you lose up to 8-percent of your muscle mass every decade after the age of 30. The two discuss the emotional connection between movement and mental health, how to get started exercising, and what about those weighted vests! Plus - Norah answers what her favorite and least favorite exercises are. We'd love to hear what topics you want to hear covered on Healthful. Text Norah at 202-217-1107.
Michigan's Democratic Senate race closes out
Michigan, Missouri, Virginia, Kansas and Washington all held primaries Tuesday night, with much of the nation focusing on the Michigan Democratic Senate primary between Abdul El-Sayed and Rep. Haley Stevens. Major Garrett anchored CBS News' special report.
Dingell on Michigan Democratic Senate primary
Polls have closed in Michigan, where the heated Democratic Senate contest between Abdul El-Sayed and Haley Stevens is coming to a head. Democratic Rep. Debbie Dingell of Michigan joins CBS News to weigh in.
Stranger rescues band from car troubles
A kind stranger named Ernie helped rock band The Autumn Kings make it to their tour stop after their car broke down in Wisconsin. Matt Gutman reports.
Bezos, DiCaprio set up massive wildlife fund
Hollywood actor Leonardo DiCaprio and Amazon founder Jeff Bezos have announced a $200 million fund set to protect species on the brink of extinction. Carter Evans has the story.