Why Fed may raise interest rates this year
The Federal Reserve's preferred inflation gauge climbed to 4.1% in May, its highest level in more than three years. Greg Robb, economics editor at MarketWatch, joins with analysis.
Interest Rates
PCE inflation index hit 4.1% in May
May's personal consumption expenditure index, the Federal Reserve's preferred inflation gauge, rose 4.1% year to year, the highest level in three years. CBS News senior business and tech correspondent Jo Ling Kent has more.
Key inflation gauge at highest level since 2023
The Federal Reserve's preferred inflation gauge climbed to 4.1% in May, its highest level in more than three years. Josh Schafer, Barron's Investor Circle Newsletter editor, joins with analysis.
Fed keeps interest rates steady
As was widely expected, the Federal Reserve unanimously voted to keep interest rates unchanged on Wednesday. CBS News coordinating producer Richard Escobedo has more details.
Warsh announces plan to reshape Federal Reserve
The Federal Reserve unanimously voted Wednesday to keep interest rates unchanged. It was the first rate decision under the new chair, Kevin Warsh. CBS News MoneyWatch correspondent Kelly O'Grady has the details.
Dow falls after Fed holds interest rates steady
The Federal Reserve maintained its benchmark interest rate on Wednesday in its first meeting with Kevin Warsh as chair. CBS News MoneyWatch correspondent Kelly O'Grady reports from the New York Stock Exchange.
Fed votes to leave interest rates unchanged
The Federal Reserve board voted Wednesday to leave interest rates unchanged in its first decision since Kevin Warsh took over as chair. CBS News' Kelly O'Grady has more.
What to expect as Kevin Warsh leads his first Fed interest rate meeting
New Fed Chairman Kevin Warsh is stepping in at a critical juncture for the U.S. economy, with inflation at its highest level in more than three years.
Fed expected to keep interest rates steady
Investors expect the Federal Reserve to keep its current interest rate steady on Wednesday as new chair Kevin Warsh helms his first meeting. Barron's reporter Josh Schafer has more on Warsh and the rate decision.
Expectations of Fed interest rate decision
The Federal Reserve on Wednesday will hand down its first interest rate decision under its new chairman, Kevin Warsh. It comes as inflation continues to rise. Kelly O'Grady explains how the outcome could impact you.
Warsh prepares for Federal Reserve meeting
Federal Reserve Chair Kevin Warsh is set to lead his first meeting and announce what's next for the nation's interest rate. CBS News' Kelly O'Grady reports.
What May inflation signals about state of economy
Inflation in the U.S. accelerated in May to its highest level in more than three years. CBS News' Kelly O'Grady breaks down the numbers.
Trump visits Wisconsin amid jobs report
The Bureau of Labor Statistics released the May jobs report on Friday, with numbers that were significantly higher than experts' projections. President Trump traveled to Wisconsin to meet with dairy farmers in an attempt to energize his supporters. CBS News' Kelly O'Grady and Nikole Killion have more.
Expert: Warsh has "difficult job in front of him"
President Trump on Friday hosted a swearing-in ceremony for the new Federal Reserve Chair, Kevin Warsh. Jon Hilsenrath, visiting scholar at Duke University, joins with analysis on what Warsh will face in the coming months.
Fed unlikely to cut interest rates until 2027, Bank of America says
A "hawkish" turn at the Fed and stubbornly high inflation could delay interest rate cuts, according to Bank of America economists.
Minneapolis Fed president on interest rates
Neel Kashkari, the president and CEO of the Minneapolis Fed, told "Face the Nation with Margaret Brennan" that while economists have been watching for an interest rate cut, "we all need to be open-minded about where interest rates are going because there's so much uncertainty coming out of the Middle East."
Powell to stay on Federal Reserve board as policy makers hold rates steady
Fed chief Jerome Powell said he will remain as a governor on the central bank's board after his term as chair ends on May 15.
Why Fed kept rates same for third consecutive time
For its third consecutive meeting, the Federal Reserve left its benchmark interest rate unchanged. CBS News MoneyWatch correspondent Kelly O'Grady reports.
Federal Reserve holds interest rates steady
The Federal Reserve held its benchmark interest rate steady on Wednesday as the U.S. economy continues to grapple with rising inflation. CBS News MoneyWatch correspondent Kelly O'Grady has more.
Key moments at Warsh confirmation hearing
Kevin Warsh, President Trump's nominee to replace outgoing Federal Reserve Chair Jerome Powell, faced tense questioning from senators at his confirmation hearing on Tuesday. Here are some of the most notable exchanges.
Warsh asked about stance on interest rates
Sen. Chris Van Hollen, a Maryland Democrat, voiced his concerns about Kevin Warsh's shifting stance on interest rates over the years. Van Hollen asked Warsh why he was in favor of lowering interest rates while inflation remained high.
Mortgage rates continue rising
Mortgage rates rose for the fourth week in a row. MarketWatch reporter Andrew Keshner joins CBS News with more.
Record share of Americans carry credit card debt, can't pay off bills
About 111 million Americans are carrying credit card balances, a 17% increase in five years, new research shows.
What's behind Fed's interest rate decision
The Federal Reserve left U.S. interest rates unchanged for a third consecutive time on Wednesday. CBS News coordinating producer Richard Escobedo has more.
Economic uncertainty fuels Fed's rate decision
The Federal Reserve left its benchmark interest rate unchanged on Wednesday, citing economic uncertainty, including potential impacts from the war in Iran. CBS News coordinating producer Richard Escobedo has the details.
Iran admits to Trump advisers "they made a mistake" in shooting at ships in strait
The White House wants Iran to publicly acknowledge that shooting at the ships was a mistake.
Live
Trump again says Iran ceasefire is over, but U.S. will keep talking
Efforts are underway to get U.S.-Iran peace talks back on track after the most intense exchange of attacks since the ceasefire took effect.
Parents of teen found dead on island don't believe he chose to stay behind
Christine and Elmore Wonsley said they don't believe their son would've stayed on the island when his friends left by boat.
Graham Platner formally drops out of Maine Senate race
Graham Platner had until 5 p.m. on Monday to formally suspend his campaign or he would remain on the ballot in November.
Trump admin. to back tariffs on Russian oil in effort to end Ukraine war, sources say
The war in Ukraine is now in its fifth year. A bipartisan bill would impose heavy financial penalties on purchasers of Russian oil,
Trump not expected to veto housing bill, U.S. official says
President Trump said Friday he won't sign the law, but a U.S. official said he isn't expected to veto it either.
Pentagon releases new set of UFO files: "Unlike anything I had seen"
The U.S. military released a new batch of files related to UFOs, including one report from a Navy pilot who said a mysterious object was "unlike anything I had seen" in 28 years of service.
Charlie Kirk's family cites "overwhelming evidence" against alleged killer
Charlie Kirk's family said the end of Tyler Robinson's preliminary hearing "marks an important step forward in the pursuit of justice."
Man partially sucked out of plane window during flight, passenger says
A woman says she saw a fellow passenger on her Ryanair flight get his head and shoulders sucked out of a window that broke during their trip between Greece and Germany.
U.S.
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Graham Platner formally drops out of Maine Senate race
Graham Platner had until 5 p.m. on Monday to formally suspend his campaign or he would remain on the ballot in November.
Iran admits to Trump advisers "they made a mistake" in shooting at ships in strait
The White House wants Iran to publicly acknowledge that shooting at the ships was a mistake.
Household staff can earn up to $300,000 working for America's rich
Good help is hard — and expensive — to find, according to a recruiting firm for private chefs, chauffeurs and other household workers.
Former Afghan general charged with drug and firearm offenses in U.S.
A former member of Afghanistan's National Assembly was arrested and charged with conspiring to illegally import heroin and methamphetamine into the U.S.
Charlie Kirk's family cites "overwhelming evidence" against alleged killer
Charlie Kirk's family said the end of Tyler Robinson's preliminary hearing "marks an important step forward in the pursuit of justice."
MoneyWatch
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Household staff can earn up to $300,000 working for America's rich
Good help is hard — and expensive — to find, according to a recruiting firm for private chefs, chauffeurs and other household workers.
Gas prices start climbing again as U.S.-Iran tensions flare
Prices at the pump sank following a June ceasefire. But renewed conflict in the Middle East and other factors are driving fuel costs back up.
Trump not expected to veto housing bill, U.S. official says
President Trump said Friday he won't sign the law, but a U.S. official said he isn't expected to veto it either.
Ex-Epoch Times CFO pleads guilty in $67 million money laundering scheme
The former CFO of The Epoch Times, a conservative multinational media company, interrupted jury selection at his money laundering trial to plead guilty to a conspiracy charge in a $67 million fraud scheme.
EasyJet accepts takeover offer from Apollo, over Castlerock's bid
British budget airline EasyJet says it's reached an agreement in principle for a £5.7-billion ($7.7-billion) takeover by U.S. private equity firm Apollo, topping a rival offer from fellow American private equity investor Castlelake.
Politics
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Graham Platner formally drops out of Maine Senate race
Graham Platner had until 5 p.m. on Monday to formally suspend his campaign or he would remain on the ballot in November.
Iran admits to Trump advisers "they made a mistake" in shooting at ships in strait
The White House wants Iran to publicly acknowledge that shooting at the ships was a mistake.
Former Afghan general charged with drug and firearm offenses in U.S.
A former member of Afghanistan's National Assembly was arrested and charged with conspiring to illegally import heroin and methamphetamine into the U.S.
Charlie Kirk's family cites "overwhelming evidence" against alleged killer
Charlie Kirk's family said the end of Tyler Robinson's preliminary hearing "marks an important step forward in the pursuit of justice."
Vance family to rent home in Virginia countryside
Sources familiar with the decision say the rental property would supplement — not replace — the official vice presidential residence at the Naval Observatory in Washington.
HealthWatch
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Michigan's cyclosporiasis outbreak grows to more than 1,500 cases
Michigan health officials say the state's cyclosporiasis outbreak has grown to more than 1,500 cases.
I tried eating Erling Haaland's World Cup "Viking diet" for a day
Can a normal human handle soccer star Erling Haaland's calorific bonanza? CBS News' Leigh Kiniry found out the hard way.
What to know about "explosive" diarrhea-causing parasite reported in several states
Michigan is experiencing its largest outbreak of a parasitic infection, called cyclosporiasis, that causes severe diarrhea.
What to know about infant botulism
A fourth infant was hospitalized for botulism linked to Nara Organics baby formula, and the FDA is now expanding its investigation. Dr. Céline Gounder has the latest.
Nara Organics infant formula linked to another case of botulism
The FDA is urging parents and caregivers to immediately stop using a Nara Organics-brand formula after several infants contracted botulism.
World
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Iran admits to Trump advisers "they made a mistake" in shooting at ships in strait
The White House wants Iran to publicly acknowledge that shooting at the ships was a mistake.
Prince Harry, Meghan visit King Charles after security controversy
Prince Harry and Meghan have a rocky relationship with the prince's father.
Trump admin. to back tariffs on Russian oil in effort to end Ukraine war, sources say
The war in Ukraine is now in its fifth year. A bipartisan bill would impose heavy financial penalties on purchasers of Russian oil,
Man, 26, arrested after former British politician found dead in her home
Ann Widdecombe, a former member of Parliament, had "sustained serious injuries" when she was found dead in her home in southwest England, police said.
At least 12 killed by wildfire in southern Spain
The cause of the blaze hasn't been determined, but Spain has been among the many European nations hit by severe heat waves, with temperatures peaking at almost 106 in the country's south.
Entertainment
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Entertainment
Sean Evans on Netflix "Hot Ones" spinoff
"Hot Ones," hosted by Sean Evans, has become one of the hottest series on YouTube. He talks to Vladimir Duthiers about his celebrity-filled show, his new Netflix spinoff, "Hot Ones: Extra Heat," and who he wants to interview next.
Meg Cabot on new "The Princess Diaries" book
Author Meg Cabot returns to Genovia to reinterpret "The Princess Diaries" in her new graphic novel, "The Princess Diaries: The Graphic Novel." Cabot tells "CBS Mornings" that she's excited to revisit the characters from the original films and "introduce them to a new generation."
Book excerpt: "Mighty Real: A History of LGBTQ Music, 1969-2000" by Barry Walters
Barry Walters, a writer for such publications as Rolling Stone and Spin, explores how LGBTQ songwriters, musicians, execs and fans reshaped pop culture in the late 20th century, as queer messages in music became less coded.
Director of "Aces," breaks down docuseries
"Aces: The ATP No. 1 Club" is a new docuseries on the greatest male tennis players of all time. It features rare interviews from legends who reached number one in the world. Pat Dimon, the director of "Aces," joins "The Daily Report" to discuss.
Jon Batiste performs "Georgia On My Mind"
Jon Batiste performs the Ray Charles classic, "Georgia On My Mind," as America rings in its 250th birthday.
Technology
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Technology
AI slop floods social media, report says
A new report from AI detector Pangram found that AI-generated content is flooding socials like X and Reddit, with LinkedIn accounting for nearly two-thirds of all AI content detected. Pangram CEO and co-founder Max Spero joins CBS News to discuss his findings.
MSG tracked celebrities, WIRED reports
A major database breach at James Dolan's Madison Square Garden arena revealed an apparent internal list tracking nearly 40,000 celebrities, according to a new report from WIRED. The report alleges that surveillance labels included "LGBTQIA," "DO NOT HOST," and evaluated individuals on a "risk" level. MSG claims the report is inaccurate. WIRED contributing editor Noah Shachtman joins "CBS News 24/7" to discuss his reporting.
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.
Breaking down the Texas app store age law
Earlier this week, the Supreme Court said it would allow Texas to enforce a law requiring app stores to verify users' ages while the issue plays out in the lower courts. CBS News legal contributor Jessica Levinson breaks down the constitutional question.
Deepfake vulnerabilities in Meta's new AI tool
Meta has launched a new AI-imaging tool called Muse that could make public Instagram users vulnerable to deepfakes. Muse allows other Instagram users to use photos from public accounts to make AI images without explicit approval or knowledge. CNET AI reporter Katelyn Chedraoui has more.
Science
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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.
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.
The American innovation that made millions of others possible
From the lightbulb to the airplane, to medical breakthroughs and the internet age, the past 250 years have been defined by America's intrepid intellect.
New White House UFO panel chair speaks out
The White House appointed former Harvard University astronomer Avi Loeb to lead its new panel on Unidentified Anomalous Phenomena, also known as UAPs and UFOs. Loeb shares his enthusiasm for his new role.
3 futurists predict what America will be like in the centuries ahead
From space to healthcare and artificial intelligence, what could the next 250 years of the United States look like?
Crime
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Crime
Indictments in White House UFC attack plot
Eight people have each been charged with conspiracy counts over a planned attack at the UFC event that was held at the White House in June. CBS News' Jake Rosen reports.
New details on Mexican man killed by ICE
New details are emerging about what led to Lorenzo Salgado Araujo's death. The Mexican man was wrongfully shot and killed by U.S. Immigration and Customs Enforcement agents during a traffic stop in Houston, Texas. Shawna Mizelle has the latest.
Man, 26, arrested after former British politician found dead in her home
Ann Widdecombe, a former member of Parliament, had "sustained serious injuries" when she was found dead in her home in southwest England, police said.
Records: Alibaba sold dangerous drugs in U.S.
Chinese e-commerce giant Alibaba knowingly sold dangerous drugs to U.S. consumers, but the DOJ did not prosecute, according to public records probed for a CBS News investigation. Senior Justice Department reporter Sarah Lynch breaks down her reporting and why charges weren't pursued.
Video before ICE kills Lorenzo Salgado Araujo
New video appears to show the moments before U.S. Immigration and Customs Enforcement officers fatally shot Lorenzo Salgado Araujo in Houston, Texas. CBS News' Jason Allen reports.
Space
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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.
NASA prepares to launch rescue to save telescope from falling to Earth
The $30 million salvage operation gets underway as soon as this week with the planned launch of a robotic lifesaver.
Astronomers find 2 gigantic planets lighter than cotton candy
The featherweight pair — orbiting a star 1,110 light-years away — are the biggest exoplanets found to have less density than cotton candy.
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
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Latest CBS News Videos
Trump maintains ceasefire is over
President Trump said Friday that Iran has asked for peace talks to continue, but maintained that the ceasefire agreement is over. CBS News senior national security correspondent Charlie D'Agata reports on the details.
Former NTSB chair on Ryanair incident
A Ryanair flight was forced to make an emergency landing after a window dislodged during the flight, injuring a passenger whose head and shoulders were sucked out. Former National Transportation Safety Board Chair Robert Sumwalt joins to discuss.
Iran's apparent plot to kill President Trump
Israeli officials tipped off the Trump administration about an apparent Iranian plot to assassinate him as the war between the two countries continues, according to a report from The Wall Street Journal. CBS News Charlie D'Agata breaks down what we know.
Indictments in White House UFC attack plot
Eight people have each been charged with conspiracy counts over a planned attack at the UFC event that was held at the White House in June. CBS News' Jake Rosen reports.
New details on Mexican man killed by ICE
New details are emerging about what led to Lorenzo Salgado Araujo's death. The Mexican man was wrongfully shot and killed by U.S. Immigration and Customs Enforcement agents during a traffic stop in Houston, Texas. Shawna Mizelle has the latest.