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The Federal Reserve took aggressive action to combat rising inflation by raising interest rates by 0.75%, the largest increase since 1994. Chief White House correspondent Nancy Cordes has the latest reaction from the White House.
The Federal Reserve raised interest rates by 0.75 percentage points Wednesday in an effort to fight inflation. CBS News Chief White House Correspondent Nancy Cordes reports on how the Biden administration is responding to the news, then CBS News Business Analyst Jill Schlesinger breaks down the impacts of this rate hike on the job market and your finances.
The government minister's suggestion on how to people might help to ease Pakistan's economic crisis didn't go down well.
After a historic move by the Federal Reserve to hike interest rates, the White House is running out of options to fight rising inflation. CBS News Chief White House Correspondent Nancy Cordes joins "CBS News Mornings" with more.
The White House is feeling intense pressure over soaring inflation rate. Oil prices play a big role in them.
Biden pushes oil companies on gas production; FDA panel supports COVID vaccine for kids under 5
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.
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.
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.
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.
"Inflation is much too high," Fed Chair Jay Powell said of the U.S. central bank's largest rate hike since 1994.
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.
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 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.
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.
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.
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.
Volatility follows Monday's turmoil which brought panic among many worried about their 401(k) retirement savings.
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.
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.
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.
Mohammed El-Erian, the chief economic adviser to Allianz, says inflation could hit 9% before beginning to come down.
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.
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.
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.
"I don't think I fully just appreciated what it would actually be like when the progress was as fast as it was," Anthropic CEO Dario Amodei told CBS News.
The Iran-backed Houthis expanded their control over the strategy Bab-el-Mandeb strait, as strikes continued in the Strait of Hormuz.
The congressman thanked the pilot and first responders for coming to their aid, and expressed his gratitude at only having sustained minor injuries.
During his 18 months as Army secretary, Dan Driscoll pushed the U.S. military to apply lessons from the war in Ukraine.
President Trump's visit to Ireland mixes official talks with Irish leaders and attendance at the Irish Open at a golf course that the president owns.
Celine Dion's return to the stage underscored a remarkable comeback after stiff-person syndrome, an incurable condition that causes stiffness and cramps, forced her to cancel shows and cast years of uncertainty over whether she would ever perform again.
An El Niño pattern occurs every two to seven years.
Aryna Sabalenka, the two-time defending U.S. Open champion, was dethroned Saturday, losing to Elena Rybakina in three sets.
The president lived at the Tudor-style Queens estate until age 4.
The wildfire, which has torn through Palo Pinto and Jack counties, forced evacuations, closed roads and disrupted schools.
The congressman thanked the pilot and first responders for coming to their aid, and expressed his gratitude at only having sustained minor injuries.
A trespasser was reported at former Vice President Kamala Harris' Malibu, California, home.
Aryna Sabalenka, the two-time defending U.S. Open champion, was dethroned Saturday, losing to Elena Rybakina in three sets.
Breanna Stewart scored 16 points and Kahleah Copper added 13 to help the U.S. beat Spain 76-66, advancing to the championship game of the women's FIBA World Cup.
Affordable Care Act recipients in 30 states are set to receive the $500 checks starting in October. Here's why.
The adjustment could provide financial relief for taxpayers who find that more of their income is taxed at lower rates, a Bloomberg analysis suggests.
Some workers are seeing stronger wage growth by switching jobs, while others are "job-hugging" because of AI, research shows.
Investors believe the Fed will raise borrowing costs as it works to tame inflation, which has risen a full percentage point since the Iran war started.
The Centers for Disease Control and Prevention said there is no longer a risk of people getting sick with cyclosporiasis from this outbreak and is confident that all related iceberg lettuce is off the market.
A trespasser was reported at former Vice President Kamala Harris' Malibu, California, home.
During his 18 months as Army secretary, Dan Driscoll pushed the U.S. military to apply lessons from the war in Ukraine.
The president lived at the Tudor-style Queens estate until age 4.
President Trump's visit to Ireland mixes official talks with Irish leaders and attendance at the Irish Open at a golf course that the president owns.
The USS George Washington, with its approximately 5,000 personnel, fighter jets and munitions, is the backbone of the U.S. military's tactical operation in the Iran war.
Kate Ping thought she was just stressed out. A nurse practitioner's surprising recommendation led to a shocking diagnosis.
Affordable Care Act recipients in 30 states are set to receive the $500 checks starting in October. Here's why.
The Centers for Disease Control and Prevention said there is no longer a risk of people getting sick with cyclosporiasis from this outbreak and is confident that all related iceberg lettuce is off the market.
Neither infant was old enough to be vaccinated. The first dose of the measles vaccine is typically given at around 1 year of age.
Amid a national blood supply crisis, Dr. Courtney Lawrence sat down with Norah O'Donnell to talk about donating blood, health myths and more.
Indonesian rescuers launched a search operation after authorities lost contact with a passenger ship carrying more than 240 people in the Java Sea.
Celine Dion's return to the stage underscored a remarkable comeback after stiff-person syndrome, an incurable condition that causes stiffness and cramps, forced her to cancel shows and cast years of uncertainty over whether she would ever perform again.
Russian President Vladimir Putin warned that sending European troops into Ukraine would amount to direct conflict with Russia.
During his 18 months as Army secretary, Dan Driscoll pushed the U.S. military to apply lessons from the war in Ukraine.
The regional train was carrying 186 passengers from Rouen to Caen when it derailed Friday evening in Cleon.
Celine Dion's return to the stage underscored a remarkable comeback after stiff-person syndrome, an incurable condition that causes stiffness and cramps, forced her to cancel shows and cast years of uncertainty over whether she would ever perform again.
President Trump's trip to Ireland, the artist who sketched Ground Zero, a travel expert's top honeymoon destinations and much more.
Hailing from Oklahoma City, roots-driven country band Jason Scott & The High Heat is on the rise. Headliner Jason Scott spent years training as a preacher until he experienced a crisis of faith, an experience that shaped his songwriting. The band's upcoming album "Playboy" captures their electrifying sound. Here's Jason Scott & The High Heat with "Fast As I Can Crawl."
Hailing from Oklahoma City, roots-driven country band Jason Scott & The High Heat is on the rise. Headliner Jason Scott spent years training as a preacher until he experienced a crisis of faith, an experience that shaped his songwriting. The band's upcoming album "Playboy" captures their electrifying sound. Here's Jason Scott & The High Heat with "When Love Tries To Hurt You."
Hailing from Oklahoma City, roots-driven country band Jason Scott & The High Heat is on the rise. Headliner Jason Scott spent years training as a preacher until he experienced a crisis of faith, an experience that shaped his songwriting. The band's upcoming album "Playboy" captures their electrifying sound. Here's Jason Scott & The High Heat with "Too Good, Too Bad."
A number of tech insiders have voiced concerns and given dire warnings in recent days about the rapid growth of AI. CBS News' Jo Ling Kent and Maya Blackstone have more.
Some tech insiders are sounding the alarm on the dangers of artificial intelligence, which could be used to disable critical infrastructure or create biological weapons. Dr. Céline Gounder weighs in.
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.
Two tech insiders are sounding the alarm on artificial intelligence. Former Anthropic researcher Jacob Coxon warns that AI could "kill us all," and now former Google DeepMind researcher Alex Turner warns that society is "just not prepared."
The development of AI "doesn't look that different from say, 'Terminator,' or from science fiction films," Jacob Coxon said.
Artificial intelligence technology is developing at an "exponential" rate, Anthropic CEO Dario Amodei told CBS News, calling the situation a "warning sign" for the industry that requires serious safeguards.
Paleontologists have identified the first known trackway made by a full-grown Tyrannosaurus rex, and the discovery was made in the North Dakota badlands.
Ten research teams were honored at a satirical science awards ceremony that was hosted outside the U.S. for the first time due to travel concerns. A study of cockroach milk was among the winners.
Marmots, not bears, are the largest "true" hibernating mammal, UCLA marmot researchers Katie Adler and Emily Renkey say. The two share more fun facts about these cute creatures and explain how to vote for the fattest marmot.
NASA's new telescope could change the way we see space. With a wide-field camera that will reveal an area up to 200 times larger than the Hubble Space Telescope, and an orbit a million miles from Earth, the Nancy Grace Roman telescope is expected to find tens of thousands of unknown exoplanets.
Paula Devlin, a juror in the murder trial of Lindsay Clancy, sat down with Shanelle Kaul to share her experience with the high-profile case and tense deliberations that ultimately ended in a mistrial.
Mississippi police have arrested a man in the death of Tasia Fortune, a Black woman found hanging from a tree last month.
25 years after 9/11, we rarely hear about the state of the organization responsible for the attacks. The Atlantic recently put out a piece on al-Qaeda that says in part, "analysts can't decide if the terrorist organization is all but defunct or more threatening than ever." The article's author, Graeme Wood, joins "The Takeout" to discuss.
The FBI is warning of potential attacks on 9/11 remembrance ceremonies as terrorist groups call for new strikes on U.S. soil. Anna Schecter has more.
The men, who were arrested in the South African city of Cape Town in 2021, are set to be handed over to officials from the FBI.
NASA's Roman Space Telescope launched shortly after daybreak from Kennedy Space Center and blazed toward an observation point 1 million miles away.
The $4.3 billion telescope is expected to discover tens of thousands of exoplanets while probing the nature of mysterious dark matter and energy.
President Trump plans to award the Congressional Space Medal of Honor to the crew of NASA's Artemis II mission in a ceremony Aug. 28.
The mission to save NASA's sinking space telescope has been called off, dooming the telescope to a fiery reentry later this year.
A NASA spacecraft circling the moon is providing the sharpest views yet of the crater carved by a crashing SpaceX rocket.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Dolly Parton, the country music legend who became a feminist icon, has died at the age of 80. Here is a look back at her life in pictures.
Sylvie Cachay was found dead in an overflowing bathtub at the exclusive Soho House in New York City on Dec. 9, 2010. A water leak at the hotel gave away a timeline that may have revealed her killer.
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.
The Obama Presidential Center, museum and library opens in Chicago with a star-studded grand opening ceremony and public watch party on Midway Plaisance.
In an interview with CBS News, Anthropic CEO Dario Amodei encouraged the artificial intelligence industry to come together in the pursuit of safeguards. Watch the interview on "CBS Sunday Morning" on Sept. 13.
Anthropic CEO Dario Amodei told CBS News that he didn't fully anticipate the effects of rapid artificial intelligence development, while also encouraging the public not to panic. Watch the interview on "CBS Sunday Morning" on Sept. 13.
A photographer who documented the horror of 9/11 reflects on how he captured a defining image of the tragedy and the significance of the photo 25 years later. Bradley Blackburn reports.
As the nation marks 25 years since the 9/11 terror attacks, Jarred Hill takes a look at how the memorial in New York honors the lives of those who died year round through the birthday flowers program.
SUVs have long dominated the family car market -- but an old-school favorite is pulling back into the picture. Minivans are seeing a huge sales surge as a new generation is giving the family hauler another look. Evyn Moon explains what's driving the comeback.