Biden calls out oil refiners over "unprecedented" profits
The White House is feeling intense pressure over soaring inflation rate. Oil prices play a big role in them.
Inflation
6/15: Red and Blue
Biden pushes oil companies on gas production; FDA panel supports COVID vaccine for kids under 5
Biden calls out oil companies as gas prices soar
President Biden sent letters to several U.S. oil companies Wednesday, asking them to do more to reduce the price of gas. Zeke Miller, a CBS News political contributor and White House reporter for the Associated Press, joined Matt Pieper to discuss the issue.
How Fed's interest rate hike could impact consumers
The Federal Reserve announced Wednesday it is raising its benchmark interest rate by three-quarters of a percentage point, the sharpest hike since 1994. CBS News correspondent Carter Evans reports on the decision. Then, Megan Greene, global chief economist for the Kroll Institute and a senior fellow at the Harvard Kennedy School, joins CBS News to discuss how the increase could affect the consumers.
Biden calls on oil companies to produce more gas
In a letter to several oil companies, President Joe Biden asked them to work with the White House to bring down high gas prices. CBS News correspondent Skyler Henry and CBS News senior White House and political correspondent Ed O'Keefe report.
Fed issues largest rate hike in decades
The Federal Reserve issued its largest interest rate hike in nearly three decades as it tries to slow the economy without causing a recession. Carter Evans has more on what that means.
Fed hikes key interest rate 0.75 percentage points as it battles inflation
"Inflation is much too high," Fed Chair Jay Powell said of the U.S. central bank's largest rate hike since 1994.
Fed could announce largest hike in decades
The Federal Reserve is expected to announce its biggest interest rate hike in almost three decades. The bank is hoping to slow down surging prices on everything from rent to gas. CBS News chief White House correspondent Nancy Cordes reports and CBS News reporter Sarah Ewall-Wice joins Vladimir Duthiers and Anne-Marie Green to discuss the impending rate hike.
Fed rate hike expected to tackle inflation
The Federal Reserve is expected to announce its biggest rate hike amid growing fears of a recession. The Fed, which will announce its decision on Wednesday, could lift rates and mark the sharpest increase since 2000. Chief White House correspondent Nancy Cordes reports from the White House.
President Biden to travel to Saudi Arabia in July
President Joe Biden is set to visit Saudi Arabia next month as part of his first trip to the Middle East since he took office. Sean Sullivan, CBS News political contributor and a White House reporter for the Washington Post, joins Elaine Quijano to discuss the trip.
Fed to consider aggressive action amid high inflation
An expected interest rate hike comes as everything from gas and food to air travel have seen the largest annual increase in decades. Interest rate hikes could potentially create more economic pain for consumers by increasing borrowing costs and discouraging spending. Meg Oliver reports.
How to manage investments in a bear market
Making the right moves with your investments and retirement plan is key when the stock market is in free fall like it has been. Joe Saluzzi, partner and co-founder of Themis Trading spoke to Anne-Marie Green and Vladimir Duthiers on CBS News about what to do with your portfolio.
Economy expert on stock market slump
Wall Street has entered a bear market, but experts warn you shouldn't do anything rash. CBS News Business Analyst Jill Schlesinger spoke to Anne-Marie Green and Vladimir Duthiers on CBS News about how to handle your finances in a down market, and what's to blame for plummeting prices.
Stocks continue to fall, a day after S&P enters bear market
Volatility follows Monday's turmoil which brought panic among many worried about their 401(k) retirement savings.
Stocks plummet as inflation fears mount
The S and P fell to its lowest point this year as investors come to terms with consumer prices rising at their fastest pace in 40 years. The drop is just the latest in a string of downturns for the markets. Elaine Quijano takes a look.
5/15: Face The Nation
This week on “Face the Nation with Margaret Brennan,” we have the latest on the deadly shooting in Buffalo, New York, with Mayor Byron Brown and Gov. Kathy Hochul. Plus, the latest from Ukraine, and a look ahead to Tuesday’s Republican primary in Pennsylvania.
Inflation jumps again as Americans feel pain at the pump.
CBS News senior national correspondent Mark Strassmann reports from Atlanta on new inflation numbers showing prices jumped at a record-breaking pace yet again last month.
El-Erian says inflation could hit 9%
Mohammed El-Erian, the chief economic adviser to Allianz, says inflation could hit 9% before beginning to come down.
Average gas prices top $5 for first time ever
For the first time ever, the average price for a gallon of gas in the U.S. is above $5. And many in America are feeling the squeeze well beyond the pumps. Lilia Luciano reports from Los Angeles.
Inflation soars to 40-year high
President Biden addressed the inflation crisis in a briefing at the Port of Los Angeles Friday. CBS News senior White House and political correspondent Ed O'Keefe reports.
U.S. inflation surging at fastest pace in 40 years
Prices are skyrocketing as inflation is surging at its fastest pace in more than 40 years. Rampant inflation is hitting America's pocketbooks, but it's also impacting President Biden, as surveys show Americans see it as the nation's top problem. Ed O'Keefe has the latest.
High inflation hampers summer travel plans
Vacation inflation is hitting summer travelers. Airfare, hotel and rental car costs have skyrocketed compared to recent years. Kris Van Cleave takes a look.
White House economist addresses inflation
The U.S. Department of Labor reported Friday that inflation reached its highest rate in more than 40 years in May. CBS News' Tanya Rivero and Michelle Miller spoke with Jared Bernstein, a member of the White House's Council of Economic Advisers, about the Biden Administration's response to surging prices.
Inflation rate hits new 40-year high
The U.S. Labor Department reports inflation reached a new 40-year high at 8.6%. Wall Street Journal reporter Dion Rabouin breaks down what this means for the economy, and what steps the Federal Reserve should consider to combat rising prices.
Biden to address rising inflation at summit
After an uptick in the latest Consumer Price Index report, President Biden plans to speak about rising inflation, record gas prices and supply chain disruptions. CBS News senior White House and political correspondent Ed O'Keefe joined Vladimir Duthiers and Anne-Marie Green with more on the administration's plans to help consumers.
Live
U.S. launches more Iran strikes, Trump calls off 20% Strait of Hormuz fee
Trump said Tuesday he "decided to replace" a 20% fee on shipping through the Strait of Hormuz, which he announced a day before, with trade and investment deals from Gulf states.
ICE halts most vehicle stops following deadly shootings, sources say
Neither of the victims of the ICE shootings in Maine or Texas were the target of enforcement operations, according to the Department of Homeland Security.
E. Jean Carroll receives $5M from Trump in abuse, defamation case
A jury concluded in 2023 that Trump should pay Carroll $5 million in damages.
How Jeffrey Epstein parlayed his elite network into a $25 million payday
Former White House counsel Kathy Ruemmler worked with Epstein on a Swiss bank settlement.
DoD watchdog finds 155mm artillery plant built 2 years ago has produced nothing
An ammunition plant in Mesquite, Texas, has not produced any metal projectile parts after the Army spent $469 million to establish the facility.
"Miracle on the Hudson" pilot, Capt. "Sully," shares Alzheimer's diagnosis
Capt. Chesley "Sully" Sullenberger, who famously landed a passenger jet on the Hudson River in 2009, said he has been diagnosed with Alzheimer's disease.
Social Security's 2027 COLA could be the biggest since 2023
New estimates call for a 3.6% to 3.8% benefit increase next year, although the final adjustment will depend on inflation readings released this summer.
Folarin Balogun addresses FIFA decision to lift red card suspension
U.S. soccer star Folarin Balogun told "CBS Mornings" he "was in shock" when he received a red card in a World Cup match and discussed FIFA's decision to lift the one-game ban.
Rare T. rex fossil sells for record $50.1 million at auction
The T. rex, nicknamed Gus, is a towering figure, standing at 12.5 feet fall and roughly 38 feet long.
U.S.
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Bipartisan senators introduce Russia sanctions and tariff bill Graham championed
The text of the bill had been finalized before Graham met with Zelenskyy last week in Kyiv.
House GOP leaders break logjam after conservative revolt
The House on Tuesday finally broke an impasse that had stalled most legislative action on the floor.
Darline Graham, Lindsey Graham's sister, sworn in as senator
Darline Graham, the sister of the late Sen. Lindsey Graham, was sworn in to serve out the remainder of his term in the Senate, following his sudden death over the weekend.
"Miracle on the Hudson" pilot, Capt. "Sully," shares Alzheimer's diagnosis
Capt. Chesley "Sully" Sullenberger, who famously landed a passenger jet on the Hudson River in 2009, said he has been diagnosed with Alzheimer's disease.
Social Security's 2027 COLA could be the biggest since 2023
New estimates call for a 3.6% to 3.8% benefit increase next year, although the final adjustment will depend on inflation readings released this summer.
MoneyWatch
More MoneyWatch
Social Security's 2027 COLA could be the biggest since 2023
New estimates call for a 3.6% to 3.8% benefit increase next year, although the final adjustment will depend on inflation readings released this summer.
Rare T. rex fossil sells for record $50.1 million at auction
The T. rex, nicknamed Gus, is a towering figure, standing at 12.5 feet fall and roughly 38 feet long.
Shippers say Strait of Hormuz fee would open "dangerous Pandora's Box"
Industry insiders say "there is no legal basis" for Trump to impose a 20% fee on cargo transiting the Strait of Hormuz, something he now says he's decided not to do.
United's newest economy upgrade guarantees an empty middle seat
United Airlines has a solution to passengers squabbling over who gets the armrest: empty middle seats.
Warsh vows to tackle inflation in first testimony as Fed chairman
Federal Reserve Chairman Kevin Warsh told the House Financial Services Committee that the central bank has "no tolerance for persistently elevated inflation."
Politics
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Bipartisan senators introduce Russia sanctions and tariff bill Graham championed
The text of the bill had been finalized before Graham met with Zelenskyy last week in Kyiv.
House GOP leaders break logjam after conservative revolt
The House on Tuesday finally broke an impasse that had stalled most legislative action on the floor.
Darline Graham, Lindsey Graham's sister, sworn in as senator
Darline Graham, the sister of the late Sen. Lindsey Graham, was sworn in to serve out the remainder of his term in the Senate, following his sudden death over the weekend.
Trump: FBI shouldn't waste time on "conspiracy theories" in Graham's death
"I don't see a lot of evil there," President Trump said of Sen. Lindsey Graham's sudden death over the weekend.
Blanche set to face harsh questioning at Senate confirmation hearing
Acting Attorney General Todd Blanche will appear Wednesday before the Senate Judiciary Committee for his confirmation hearing to take over the role on a permanent basis.
HealthWatch
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"Miracle on the Hudson" pilot, Capt. "Sully," shares Alzheimer's diagnosis
Capt. Chesley "Sully" Sullenberger, who famously landed a passenger jet on the Hudson River in 2009, said he has been diagnosed with Alzheimer's disease.
States call out big businesses with employees on Medicaid
With the federal Medicaid work requirement looming in January, Democrats are considering state legislation to call out big companies that employ workers enrolled in the safety net health program.
Dr. Céline Gounder: Lindsey Graham died of aorta disease. My husband did too.
Lindsey Graham's aorta tore at 71. Grant Wahl's burst at 49. One is common and age-driven; the other is inherited, silent, and findable.
Common knee surgery may do more harm than good, 10-year study shows
A Finnish study followed patients for 10 years after they had a popular knee surgery. For many, the pain continued or even worsened.
New Jersey works to destroy firefighting foam laced with cancer-linked PFAS
New Jersey is one of more than a dozen states that are working to collect, remove and destroy all of their aqueous film-forming foam.
World
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Bipartisan senators introduce Russia sanctions and tariff bill Graham championed
The text of the bill had been finalized before Graham met with Zelenskyy last week in Kyiv.
U.S. marine biologist shot dead in the Philippines, companion injured
Kent Carpenter and his Filipina companion were at his house in the coastal town of Sibulan when masked men forced their way in.
China rejects report that a U.S. scientist is being wrongfully detained
Asked about the case of U.S. national Youlin Chen, China's foreign ministry said there was no "wrongful detention," but it did not deny the scientist was imprisoned.
Shippers say Strait of Hormuz fee would open "dangerous Pandora's Box"
Industry insiders say "there is no legal basis" for Trump to impose a 20% fee on cargo transiting the Strait of Hormuz, something he now says he's decided not to do.
Man describes harrowing escape from wildfire that killed wife and friends
A last minute decision meant Malcolm Timbrell survived one of Spain's deadliest wildfires ever, but his wife and friends were trapped by a wall of flames.
Entertainment
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Insider at "The Wolf of Wall Street" firm opens up: "My lifestyle was insane"
The Paramount+ documentary "The Real Wolf of Wall Street" gives an inside look at Jordan Belfort's scandal-ridden firm, Stratton Oakmont.
Gelfand on "The Real Wolf of Wall Street"
"The Real Wolf of Wall Street," a new documentary from See It Now Studios on Paramount+, focuses on the real-life story of infamous stockbroker Jordan Belfort and his brokerage firm Stratton Oakmont. Howie Gelfand, a former partner at Stratton Oakmont, explains why he decided to be part of the documentary and how the 2013 film, "The Wolf of Wall Street," starring Leonardo DiCaprio, got the real story wrong.
Alan Ritchson on thriller "Motor City"
Alan Ritchson talks about starring in "Motor City," which has nearly no dialogue, how his process was different and why he thinks it will resonate with audiences.
States sue to block Paramount-WBD merger
A coalition of a dozen states on Monday sued to block Paramount Skydance's acquisition of Warner Bros. Discovery, posing a new challenge to the $110 billion deal that would unite two of the nation's largest media companies. Paramount Skydance is the parent company of CBS News. CBS News' Jo Ling Kent reports.
Mick Jagger on music and politics
Mick Jagger spoke with The New York Times recently about the role of politics in his music. Political strategists Erin Maguire and Dan Kanninen join "The Takeout" to discuss.
Technology
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Technology
Hochul halts NY data center construction
New York Gov. Kathy Hochul imposed a year-long moratorium on "hyperscale" AI data centers, halting construction as the state investigates the wider economic and environmental impacts. Shanelle Kaul explains more.
Apple files lawsuit against OpenAI
Apple is suing OpenAI over apparently stolen trade secrets that may be linked to hardware ambitions. 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.
New York enacts nation's first statewide moratorium on building new data centers
Building new data centers in New York will be paused for a year in order to allow state officials to establish guidelines protecting residents and the environment, Gov. Kathy Hochul said.
AI companies are creating "generative ghosts" of deceased loved ones
Startups are using emails, photos and voice recordings to create AI simulations that family and friends can interact with after a loved one's death.
Science
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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.
Astronomer's name deciphered from ancient Mayan ruins for first time
The name "White-chested Fox" was found in drawings dating from 400 BC to 900 AD at the San Bartolo-Xultun archaeological site.
Disclosure Foundation head on new UFO files
The Pentagon on Friday released a new batch of UFO files, spanning 19 videos and more. Jordan Flowers, executive director of the Disclosure Foundation, joins CBS News to discuss.
Watch: Pentagon releases 19 new UFO videos
The Defense Department released a fourth batch of UFO files on Friday, nearly one month after its third drop. These are all of the videos in the latest tranche, plus analysis from astrophysicist Avi Loeb.
2,000-year-old gold rings and human bones found by archaeologists
Archaeologists have discovered eight human skeletons, bronze and gold jewelry and other artifacts indicating a ceremonial burial of wealthy people.
Crime
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U.S. marine biologist shot dead in the Philippines, companion injured
Kent Carpenter and his Filipina companion were at his house in the coastal town of Sibulan when masked men forced their way in.
Kagan opening statements on security funding
Supreme Court Justices Elena Kagan and Amy Coney Barrett are on Capitol Hill to testify before House lawmakers in response to a request for increased security funding amid growing threats against members of the highest court.
Second fatal ICE shooting in a week
Joan Sebastian Guerrero's death in Maine marks the second time in a week that Immigration and Customs Enforcement agents have shot and killed a civilian. The Department of Homeland Security alleged that a man "attempted to flee the scene" when stopped by ICE. Guerrero's killing has prompted calls for an investigation. CBS News' Lilia Luciano reports.
Apple files lawsuit against OpenAI
Apple is suing OpenAI over apparently stolen trade secrets that may be linked to hardware ambitions. CBS News contributor Patrick McGee joins with more.
Witnesses on ICE shooting in Maine
Witnesses are describing what they saw during the moments after an Immigration and Customs Enforcement agent fatally shot a man in Maine. One source with knowledge of the investigation says Joan Sebastian Guerrero was killed during the encounter. CBS News' Lilia Luciano reports.
Space
More Space
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.
Astronomers discover sugar in space that's also found in raspberries
The sugar, called erythrulose, lurks in what's called the interstellar medium: thin clouds of gas and dust littered between stars.
Telescope spots most distant quasars ever discovered
Quasars — the brightest objects in the universe — are powered by supermassive black holes at the heart of early galaxies.
Mission launched to rescue a falling space telescope
Katalyst Space's LINK spacecraft is designed to capture and boost NASA's Swift observatory back to a safe altitude.
NASA astronauts operate on space station's broken robot arm
The orbital surgery on the International Space Station returned the Canadian-built robot arm to full health after its "wrist" joint failed last month.
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.
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.
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.
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?
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
Darline Graham sworn in as senator
Darline Graham was sworn into the U.S. Senate on Tuesday, replacing her late brother Lindsey, who died unexpectedly over the weekend. CBS News' Nikole Killion reports.
Fed Chair Warsh testifies about inflation
Federal Reserve Chair Kevin Warsh testified before the House Financial Services Committee Tuesday as new government data showed inflation rose 3.5% annually in June. Taurean Small reports from Washington, D.C.
Trump reverses course on Hormuz tolls
President Trump on Tuesday reversed course on his decision to impose a 20% toll on ships passing through the Strait of Hormuz and said the U.S. military doesn't need to have a presence in Iran. CBS News' senior White House and political correspondent Ed O'Keefe and Middle East contributor Courtney Kealy report.
Hochul halts NY data center construction
New York Gov. Kathy Hochul imposed a year-long moratorium on "hyperscale" AI data centers, halting construction as the state investigates the wider economic and environmental impacts. Shanelle Kaul explains more.
Supreme Court asks Congress for security cash
Supreme Court justices Elena Kagan and Amy Coney Barrett testified on Capitol Hill, advocating for the high court to receive a bigger security budget following an increase in security threats. CBS News' Jan Crawford reports.