Stocks plunge as inflation soars at fastest pace in 4 decades
May surge in consumer prices raises odds that the Fed will continue to sharply hike interest rates.
Inflation
Biden to speak on the state of the economy
President Biden will address the rising levels of inflation in a speech Friday as prices of food, gas and other necessities are reaching record highs. Washington Post White House reporter Sean Sullivan joins CBS News with a preview the administrations plans.
Rental cars, flights, hotels: How vacation inflation is impacting travelers
The U.S. Department of Labor reported Friday that inflation accelerated across the U.S. in May, jumping to 8.6%.
Need a new car? Expect to pay above sticker price
If you can find a vehicle for the manufacturer's suggested retail price, that's considered a good deal right now.
What is stagflation, and should we be worrying about it?
Soaring prices and slowing growth are alarming economists, who warn that we could see a replay of the turbulent 1970s.
Soaring gas prices impact American drivers
The price of gas hit another all-time high as the national average nears $5 a gallon. Carter Evans has more on how it's affecting small business owners.
Stocks slide as investors fret about inflation
Dow dives more than 600 points as central bankers struggle to contain spiraling food, energy and other prices.
Europe to hike interest rates for first time in 11 years
Russia's war in Ukraine has sent shock waves through the EU economy, particularly through rising energy prices.
6/8: Red and Blue
Gas prices reach record high average per gallon; Biden to attend G7 & NATO meetings on Ukraine
Stocks fall as inflation fears continue
Yahoo! Finance reporter Emily McCormick speaks with CBS News' Tanya Rivero and Elaine Quijano about the factors causing the U.S. stock market to fluctuate.
Stocks fall as trading wobbles along with investor confidence
Trading remains choppy as investors try to determine how rising interest rates and inflation will impact economy.
Smaller boxes in cereal aisle? Say hello to shrinkflation.
Manufacturers are again downsizing packaging in an effort to ease the hit from inflation. Are they going too far?
OECD: War in Ukraine will drag down global economy
"The war could spark starvation. It could cause social unrest and political turmoil," OECD chief economist said.
6/7: Red and Blue
Biden administration aiming to combat inflation; FDA advisory panel discusses Novavax COVID vaccine
U.S. gas prices hit record-high
Americans are paying record-high prices for gasoline as the summer travel season kicks off. CBS News correspondent Carter Evans has more on the rising gas prices. Then, John Leer, the chief economist for Morning Consult, joins Lana Zak on CBS News to discuss the U.S. economy and more.
Soaring gas prices hit new record
The national average for a gallon of gas hit $4.91. In 13 states, it's above $5 a gallon. Carter Evans has more.
Gas prices soar to new record highs
Gas prices have once again soared to a new record high. The national average for a gallon of gas is now $4.92. That’s up nearly $2 from the same time last year. CBS News correspondent Carter Evans is in Los Angeles, which has some of the nation’s highest gas prices. He joins Tanya Rivero and Elaine Quijano for more on this.
5 credit card perks that can help you fight inflation
Whether your goal is to pay off debt or save money, credit cards offer rewards and benefits that can make a difference.
Biden to host Summit of the Americas
President Biden is preparing for the Summit of the Americas, which is being held in Los Angeles. He will be joined by leaders from North, Central and South American countries as they explore economic relationships and shared policy goals. CBS News political contributor and Democratic strategist Joel Payne joined CBS News' Lana Zak to discuss.
U.K.'s Boris Johnson faces no-confidence vote
British Prime Minister Boris Johnson faces a vote of confidence in his leadership, after a number of British lawmakers from his own party submitted letters saying they no longer wanted him as leader. CBS News foreign correspondent Ramy Inocencio joined Vladimir Duthiers and Anne-Marie Green from London to discuss Johnson's political future.
U.S. braces for possible spike in inflation
Despite the U.S. adding more jobs in May, many Americans fear a recession is on the horizon. Senior Vice President of Kingsview Investment Management Paul Nolte joins "CBS News Mornings" to discuss the latest.
Economist Betsey Stevenson on inflation and economic recovery
Betsey Stevenson, a professor at the University of Michigan, discusses the state of the U.S. labor market, the outlook for inflation and the role of consumers in the economic recovery.
Record-high gas prices affect summer travel
High gas prices are turning into a major speed bump as the summer travel season kicks into high gear. The national average for regular gas is nearing $5 per gallon. Kris Van Cleave has more on why gas prices are increasing.
Biden: May jobs report "sign of a healthy economy"
President Biden is praising his administration's efforts at reviving the U.S. economy since taking office last year. The latest numbers from the Bureau of Labor Statistics shows that the U.S. added 390,000 new jobs in May despite fears of a slowing economy. The president says the new numbers reflect a healthy economy. CBS News senior White House and political correspondent Ed O'Keefe has more.
Attention shoppers: Spam and guacamole will soon cost more
Supermarkets tout discount campaigns to inflation-weary shoppers as more people turn to cheaper private labels.
Live
Trump says he is reviewing new Iran peace proposal
President Trump told reporters Saturday he is reviewing a new 14-point peace proposal that was submitted by Iran.
Spirit Airlines shutting down after failed effort at government rescue deal
The budget carrier Spirit Airlines is ceasing operations after failing to land a $500 million bailout from the Trump administration.
Drugmaker asks Supreme Court to halt ruling blocking online access to mifepristone
A maker of the widely used abortion pill mifepristone asked the Supreme Court on Saturday to block an appellate court ruling that cut off mail-order access to the drug just a day earlier.
"This is it tonight": Spirit Airlines pilots sign off on final flights
Air traffic control audio records showed the exchanges between controllers and the pilots of some of Spirit Airlines' final flights
Golden Tempo wins 152nd Kentucky Derby, making history for its trainer
Cherie DeVaux became the first woman to train the winner of the opening leg of the Triple Crown.
Explosives found after vehicle crashes into Portland athletic club, one dead
A driver crashed a vehicle through the front entrance of the Multnomah Athletic Club in Portland, authorities said, and explosives were found inside the car.
Mexican governor accused by U.S. of drug trafficking temporarily steps down
The U.S. accuses Sinaloa Gov. Ruben Rocha Moya of working with cartels to distribute "massive quantities" of narcotics to the United States.
Starmer urges action at some Gaza protests after antisemitic attacks
Keir Starmer said he would always defend the right to protest, but that there may be instances where some marches should be banned.
NFL whiff leads to lifesaving diagnosis for sales manager at Kentucky Derby
Attending this year's Kentucky Derby means more for thoroughbred expert Mark Toothaker, who suffered a seizure from laughing at a whiffed NFL field goal attempt that led to a lifesaving diagnosis.
U.S.
More U.S.
Golden Tempo wins 152nd Kentucky Derby, making history for its trainer
Cherie DeVaux became the first woman to train the winner of the opening leg of the Triple Crown.
Kentucky Derby brings eye-catching looks, from statement hats to standout suits
Held every spring in Louisville, Kentucky, the event is also known for its over-the-top hats and vibrant suits and dresses.
Explosives found after vehicle crashes into Portland athletic club, one dead
A driver crashed a vehicle through the front entrance of the Multnomah Athletic Club in Portland, authorities said, and explosives were found inside the car.
"This is it tonight": Spirit Airlines pilots sign off on final flights
Air traffic control audio records showed the exchanges between controllers and the pilots of some of Spirit Airlines' final flights
Spirit Airlines shutting down after failed effort at government rescue deal
The budget carrier Spirit Airlines is ceasing operations after failing to land a $500 million bailout from the Trump administration.
MoneyWatch
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Berkshire Hathaway has 1st annual meeting without Warren Buffett
The company's first-quarter profit more than doubled as the value of its investments grew and most of its businesses improved.
Spirit Airlines shutting down after failed effort at government rescue deal
The budget carrier Spirit Airlines is ceasing operations after failing to land a $500 million bailout from the Trump administration.
Pickleball Inc. $225 million deal creates new home for sport
The deal merged Major League Pickleball and the Carvana PPA Tour, two of the nascent sport's most active entities, under one company, Pickleball Inc.
Exclusive
Ford CEO says company is focusing on making vehicles more affordable
Ford CEO Jim Farley tells CBS News, "Most of our new models are going to be more affordable versions."
What will a Spirit Airlines shutdown mean for travelers?
Have tickets to fly on Spirit? Here's what to know about refunds and alternative flights as the budget airline ceases operations.
Politics
More Politics
Tennessee, Alabama take steps to redraw House maps in wake of Supreme Court ruling
The Republican governors of Tennessee and Alabama called state lawmakers into special sessions on Friday, initial steps in what could be a scramble to redraw congressional maps after the Supreme Court narrowed the Voting Rights Act.
Trump tightens U.S. sanctions on Cuba, signaling a warning to the island, expert says
The new measures increase pressure on foreign financial institutions by threatening their access to U.S. markets if they continue to work with Cuban government entities.
Judge rebukes prosecutors in hearing for accused correspondents' dinner gunman
A federal judge scolded prosecutors for pushing to move forward with detention proceedings for accused correspondents' dinner gunman Cole Allen, even though Allen agreed to remain in custody.
Trump administration to cut 5,000 U.S. troops from Germany
President Trump said earlier this week he was reviewing the possible reduction of troops in Germany, which hosts more than 35,000 U.S. service members.
Judge blocks Trump from ending deportation protections for Yemenis
A federal judge on Friday blocked the Trump administration from revoking legal protections for more than 2,800 Yemeni nationals.
HealthWatch
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Football practice was leaving a teen fatigued. A rare cancer was to blame.
Cameron Rider's fatigue, body aches and fever were diagnosed as pneumonia, but he couldn't seem to get better.
Drugmaker asks Supreme Court to halt ruling blocking online access to mifepristone
A maker of the widely used abortion pill mifepristone asked the Supreme Court on Saturday to block an appellate court ruling that cut off mail-order access to the drug just a day earlier.
FDA expands access to drug helping pancreatic cancer patients
Former Sen. Ben Sasse, 54, called daraxonrasib "a miracle drug" that was allowing him to live longer and with less pain.
Nebraska becomes first U.S. state to enact Medicaid work requirements
The "big beautiful bill" requires U.S. states to add work requirements to Medicaid by January 2027. Experts warn millions could lose health coverage.
Delays in visa program threaten placement of hundreds of doctors in underserved areas
Hundreds of foreign doctors about to complete training in the U.S. will have to leave the country if the federal government doesn't rapidly process their visa waiver applications, immigration attorneys say.
World
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Mexican governor accused by U.S. of drug trafficking temporarily steps down
The U.S. accuses Sinaloa Gov. Ruben Rocha Moya of working with cartels to distribute "massive quantities" of narcotics to the United States.
Starmer urges action at some Gaza protests after antisemitic attacks
Keir Starmer said he would always defend the right to protest, but that there may be instances where some marches should be banned.
Trump administration to cut 5,000 U.S. troops from Germany
President Trump said earlier this week he was reviewing the possible reduction of troops in Germany, which hosts more than 35,000 U.S. service members.
Trump tells Congress "hostilities" with Iran have "terminated"
President Trump on Friday told Congress that hostilities with Iran have "terminated," addressing a critical 60-day deadline.
Book excerpt: "The New Tourist" by Paige McClanahan
Journalist Paige McClanahan writes about how tourism shapes societies and individuals, and about the need to redefine the meaning of "tourist" in today's shrinking world.
Entertainment
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Entertainment
5/2: Saturday Morning
Spirit Airlines announced it will cease operations after failing to secure a federal bailout. Meanwhile, President Trump rejected Iran's latest peace proposal.
NFL whiff leads to lifesaving diagnosis for sales manager at Kentucky Derby
Attending this year's Kentucky Derby means more for thoroughbred expert Mark Toothaker, who suffered a seizure from laughing at a whiffed NFL field goal attempt that led to a lifesaving diagnosis.
Andy Serkis on "Animal Farm"
Andy Serkis, the iconic voice of Gollum in "Lord of the Rings," speaks with "CBS Saturday Morning" about his latest project, an animated version of George Orwell's "Animal Farm."
Manish Malhotra on his design journey
Indian fashion designer Manish Malhotra is no stranger to American red carpets, counting Beyoncé, the Kardashians and Rihanna as clients. Malhotra spoke with "CBS Saturday Morning" about his start as a Bollywood costume designer ahead of Monday's Met Gala.
Billie Marten performs "Feeling"
English singer-songwriter Billie Marten has been compared to legends like Joni Mitchell, Kate Bush and Nick Drake. Her latest album, "Dog Eared," has received widespread praise for its soothing yet evocative sound. Here's Billie Marten performing "Feeling."
Technology
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Technology
Reducing data center impact on U.S. power grid
Powerful artificial intelligence data centers are putting a significant strain on the nation's power grid, but one U.S.-based company has a proposal to help solve the issue. Jon Parella, CEO and founder of Terraflow Energy, joins to discuss.
Apple's latest earnings beat expectations
Apple's latest earnings report beat Wall Street expectations. CBS News contributor Patrick McGee joins with 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.
Elon Musk concludes testimony in OpenAI trial
Elon Musk's testimony concluded Thursday in his lawsuit against OpenAI. Nicholas Thompson, CEO of The Atlantic and host of "The Most Interesting Thing in AI" podcast, joins "The Takeout" with analysis.
Elon Musk cross-examined in OpenAI trial
Elon Musk was cross-examined in his lawsuit against OpenAI on Thursday. In testimony on Wednesday, he said he was "a fool" for funding OpenAI. He is accusing OpenAI and its CEO, Sam Altman, of betraying him and the public by abandoning its core mission as it transitioned from a nonprofit to a for-profit company. WIRED senior writer Maxwell Zeff joins CBS News to discuss.
Science
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Science
Bill Nye on the Artemis II moon mission
Bill Nye The Science Guy, the chief ambassador of The Planetary Society, joins CBS News 24/7 Mornings with more after meeting the Artemis II crew in person after their successful mission around the moon.
Trump administration fires board overseeing National Science Foundation
The Trump administration has fired all 22 current members of an independent board that oversees the National Science Foundation, one dismissed member says.
AI used to reveal face of victim fleeing Mount Vesuvius eruption
Archaeologists found the victim holding a terracotta mortar, which they interpret as an improvised attempt to shield his head.
In a first, endangered orangutan seen using canopy bridge to cross road
Rapid development has been shrinking the jungle habitat of the critically endangered species, and fatal conflicts with people have been increasing.
Saving the Venus fly trap
The carnivorous Venus fly trap is native to the Carolinas, but its population is dwindling due to loss of habitat. Correspondent Seth Doane talks with botanist Julie Moore, who has spent much of her life helping to save these remarkable plants; and with Damon Waitt, director of the North Carolina Botanical Garden, who discusses the unusual traits of a species that Charles Darwin called the most interesting plant in the world.
Crime
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Crime
New video of correspondents' dinner suspect
New video shows the alleged White House Correspondents' Dinner shooter breaching event security after roaming the hotel hallways prior to the dinner.
Starmer urges action at some Gaza protests after antisemitic attacks
Keir Starmer said he would always defend the right to protest, but that there may be instances where some marches should be banned.
3 months since Nancy Guthrie's disappearance
Friday marked exactly three months since Nancy Guthrie, the mother of "Today" show co-host Savannah Guthrie, was reported missing. Briana Whitney, a breaking news reporter for the Crime Junkie podcast, joins "The Daily Report" with more.
WHCA scholarship recipients on shooting
For more than 100 years, the White House Correspondents' Dinner has celebrated the First Amendment and freedom of the press. The annual event is also a fundraiser for journalism scholarships. This year, the White House Correspondents' Association awarded $156,000 in grants to 30 college students. Two recipients, Kaitlin Bender-Thomas and Madison Maynard, join "The Daily Report" to discuss the shooting.
New video in D.C. dinner shooting
Newly released video shows the White House Correspondents' Dinner shooting suspect and his movements ahead of the attack. Other video also shows a clearer image of the confrontation between law enforcement and the suspect. CBS News' Anna Schecter has more details.
Space
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Artemis crew surprises 5-year-old aspiring astronaut with special gift
The Artemis II team gained a new member, and the crew made sure their youngest teammate had the right stuff for space.
Artemis II crew reveals what snack they ate right after splashdown
The Artemis II astronauts said they actually really enjoyed the space food, but it was a familiar candy they enjoyed after splashing down in the Pacific Ocean.
Artemis II astronauts talk mission toilet troubles: "We made do"
The plumbing issues aboard the Orion capsule became headline news in the early days of the historic Artemis II mission.
Only on CBS
Artemis crew tells kids moon flight was "the best roller coaster ride"
The Artemis II astronauts joined "CBS Mornings" for a live town hall where they took questions from kids just weeks after returning from their historic moon mission.
SpaceX launches Falcon Heavy rocket carrying powerful satellite
SpaceX's most powerful operational rocket boosted a high-speed ViaSat internet data relay satellite into space to complete a globe-spanning constellation.
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.
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?
The life & near death of prizefighter Christy Salters-Martin
Christy Salters-Martin dominated in the boxing ring but faced her toughest challenger at home.
Timeline: The disappearance of George Smith
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Who is Alix Tichelman?
Meet the tattooed beauty charged in the death of Google executive Forrest Hayes.
Latest CBS News Videos
More Latest CBS News Videos
Latest CBS News Videos
Mountain lion cub with missing toes rescued
A mountain lion cub missing some toes was found alone in the Santa Monica Mountains at just three weeks old. Crimson is now being cared for at the Oakland Zoo, and has clawed his way into people's hearts. Itay Hod has the story.
Marine heatwave could bring extreme weather
The ocean off California keeps breaking heat records. Experts say it could produce a stormy summer that may threaten lives. Max Darrow explains.
States scramble to redistrict after major ruling
Alabama and Tennessee are the latest states rushing to redraw congressional districts after a Supreme Court ruling that further weakens the Voting Rights Act of 1965. Nikole Killion reports.
Abortion pill maker makes Supreme Court plea
A drugmaker of mifepristone filed an emergency appeal to the Supreme Court to restore access for Americans who receive the abortion pill by mail.
Iran war in stalemate, Hormuz shut down
President Trump compared the U.S. Navy to pirates, as it enforces the blockade of Iranian ports near the Strait of Hormuz. The U.S. also warned shipping companies that they could face penalties for paying tolls to Iran to safely pass through the critical waterway. Ramy Inocencio has more.