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.
Inflation
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.
Record gas prices affect summer travel
High gas prices throughout the nation are turning into major speed bumps for summer travel plans. The nation's average price for a gallon of gas is now $4.76 – another new record. Kris Van Cleave reports on the increasing costs of going on a road trip.
In these locations, gas costs more than the U.S. minimum wage
A handful of gas stations are charging $7.25 or more for a gallon of gas as fuel prices hit another record.
Inflation grips small businesses
Americans are continuing to face record high prices as inflation soars at its fastest pace in more than 40 years. Carter Evans spoke to several small business owners who say they are struggling to keep their doors open.
5/31: Red and Blue
Congress discussing bipartisan gun control bills; Biden looks to curb inflation
Optimism among small business owners at historic low amid inflation surge
Nationally, 85% of small businesses experienced financial challenges in the last year, according to the Small Business Credit Survey.
Yellen admits she was "wrong" about inflation in 2021
"I think I was wrong then about the path that inflation would take," Treasury Secretary Janet Yellen told CNN.
White House adviser talks fighting inflation
The U.S. is struggling with some of its highest levels of inflation in four decades. Heather Boushey, who is on the White House’s Council of Economic Advisers, joins CBS News to discuss the Biden Administration’s plans to address its new top economic priority, inflation.
MoneyWatch: Stocks down to close out May
The major stock indexes ended Tuesday with losses after ping-ponging throughout the day. Geetu Sharma, the founder and investment manager of AlphasFuture LLC, joins CBS News during the closing bell on Wall Street to discuss what was driving the market and what to expect in June.
Stocks slip after EU agrees to partial ban on Russian oil
Investors retreat as global crude prices jump on European Union plan to embargo most Russian oil exports.
MoneyWatch: Biden meeting with Fed chair
Americans have been facing rapidly increasing prices at the gas station and grocery store and in the housing market. President Biden is expected to address this during a meeting with Federal Reserve Chairman Jerome Powell on Tuesday. Frances Stacy, director of strategy at Optimal Capital, joined "CBS News Mornings" to discuss what's contributing to high inflation.
Holiday weekend travel up despite gas prices
Despite record-high gas prices increasing the cost of travel, millions of Americans are hitting the road and taking to the skies for Memorial Day weekend. Tom Wait has more.
Severe weather, gas prices impacting holiday travel
Nearly 40 million Americans will travel over Memorial Day weekend, AAA estimates. While inflation and gas prices aren't keeping them home, severe weather could delay travel plans. Errol Barnett has more.
Wall Street breaks 7-week losing streak — longest since 2001
Investors cheered by economic data showing that inflation slowed in April for the first time since November 2020.
Retailers use price-gouging to score record profits, watchdog charges
The top 10 retailers have raked in $99 billion of profit last year, according to one corporate accountability group.
Key inflation gauge eases for the first time since 2020
Although U.S. inflation remains painfully high, two closely watched barometers suggest prices are moderating.
Newly built home sales fall to pre-pandemic lows
Sales of newly built homes have plummeted to pre-pandemic levels as inflation and mortgage rates rise. Danielle Hale, chief economist for Realtor.com, joined CBS News' Jim Axelrod to discuss what this means for the market.
Rancher describes financial struggles amid inflation
The price of meat, poultry and fish has increased 14% in a year. Ranchers across the U.S. are feeling the pinch as the cost of doing business increases. Dennis Sun, publisher of Wyoming Livestock Roundup and a fourth generation rancher, joins CBS News' Tony Dokoupil and Tanya Rivero to discuss.
U.S. economy shrank at 1.5% rate in the first quarter
Even though consumers and businesses kept spending, a trade imbalance pushed down the economy between January and March.
School lunches scaled back by higher costs and supply chain issues
Supply chain issues and the spiraling cost of key ingredients has forced school districts to pull back or make substitutions.
Impact of rising food costs on school lunches
Nationwide, school lunch programs are grappling with the rising food prices and ingredient shortages due to supply chain disruptions. CBS News correspondent Scott MacFarlane spoke to school lunch administrators who are struggling to put together the weekly lunch menus.
Americans increasingly concerned with economy
New CBS News polling shows Americans are increasingly concerned with economic issues ahead of the 2022 midterm elections. Meanwhile, critical primary races in Georgia on Tuesday are poised to test former President Trump's influence in the Republican Party.
FlyDubai co-pilot was likely lone wolf, Israeli investigators believe
Experts are training AI on how to do their jobs
Only On CBS
The Alito Court: A rare interview with the influential Supreme Court justice
Sen. Tillis worries about the "outsized influence" of the executive branch
Key Biden aide recalls "draconian measures" being considered against Israel
CBS News poll finds Democrats maintain House advantage amid concern about prices
First on CBS
FBI arrests woman accused of surveilling Taiwanese president's son for China
U.S. military removes bombers from U.K. air base following security incident
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