Fed Chair Jerome Powell signals "time has come" for interest rate cuts
Federal Reserve Chair Powell, speaking at a conference in Jackson Hole, Wyoming, said the timing and pace of rate cuts will depend on economic data.
Interest Rates
Real estate market, interest rates shift
The real estate market in the U.S. may see some movement when the Federal Reserve Board makes a decision on potentially cutting interest rates in September. CBS News contributor J.D. Durkin has more.
Inflation drops below 3% for first time since 2021
The Labor Department reported Wednesday that consumer prices rose just 2.9% in July, the first time the year-over-year inflation rate has dropped below 3% since March of 2021. However, despite the good economic data, for many Americans monthly expenses such as rent, auto insurance and electricity remain stubbornly high. Jo Ling Kent reports.
Inflation below 3% in new CPI report
Wednesday's release of the latest Consumer Price Index marks the first time inflation has been below 3% since 2021. CBS News contributor Javier E. David has more on the report and what it could mean for interest rates.
Key flags before stock market sell-off
The global stock markets sell-off that transpired Monday follows some key economic data reports that may have spooked some investors. CBS News senior business and technology correspondent Jo Ling Kent breaks down the other market flags about the U.S. economy to consider as a rebound appears to be developing.
Stocks fall as fears of recession increase
The stock market took a big slide Monday following a lackluster jobs report and growing fears of a recession in the next year. Jo Ling Kent breaks down what it all means.
Dow, S&P 500 see worst daily loss since 2022
Fears of a U.S. economic slowdown sent markets falling at the start of the trading week on Monday, with markets in Asia and Europe falling as well. CBS News senior business and tech correspondent Jo Ling Kent has more from New York.
What's driving the global market sell-off?
Stocks plunged Monday amid fears that the U.S. is entering the early stages of a recession, with the Dow Jones falling 2.6 percentage points. CBS News senior business and tech correspondent Jo Ling Kent examines what's driving the global economic uncertainty.
Stock market suffering disastrous day
U.S. markets are taking a hit Monday with the Dow falling over 1,000 points to start the day and semiconductor stocks like Nvidia and Intel dipping over 7%. Overseas, Japan's market had the worst day in its history, dropping over 12%. CBS News contributor J.D. Durkin has more.
Stocks drop following weak July jobs report
The stock market plunged Friday after a weaker-than-expected July jobs report raised fears of a slowing economy. But should Americans actually be worried about the sell-off? CBS News contributor JD Durkin joins to discuss.
Fed chair defends holding off on rate cuts
The Federal Reserve said Wednesday it is leaving its benchmark interest rate unchanged. The announcement means policymakers will hold the federal funds rate between 5.25 and 5.50%, the highest level in 23 years. Martin Baccardax, senior editor and chief markets correspondent for TheStreet, joins CBS News to examine the decision.
The Fed holds interest rates steady. Here's when to expect a cut.
The Federal Reserve is leaving its benchmark interest rate unchanged as investors look for signals that a cut is imminent.
Federal Reserve holds interest rates steady
The Federal Reserve left the benchmark federal funds rate unchanged Wednesday. Experts still believe the Fed's September meeting could lead to cuts. CBS News business analyst Jill Schlesinger and CBS News contributor Javier David break down the decision.
Fed to make interest rate decision
Federal Reserve Chairman Jerome Powell will announce the agency's decision on interest rates Wednesday with cuts not yet expected. Jeanna Smialek, Federal Reserve and U.S. economy reporter for the New York Times, joined CBS News to discuss the Fed.
The Fed set to issue decision on interest rates. Here's what to expect.
The Federal Reserve is meeting July 30-31 to discuss its benchmark rate. Here's what economists say about the impact on your money.
Rents are cooling off, bolstering Fed's case for cutting rates
After years of soaring housing costs, renters are getting some relief as the Federal Reserve looks to extinguish inflation.
Economic growth accelerates in 2nd quarter
The Commerce Department says the nation's gross domestic product, or GDP, rose at an annual rate of 2.8% from April through June. That's more than the 1.9% rate economists had expected for the second quarter. Jeff Stein, White House economics reporter for The Washington Post, joins CBS News to explain what the GDP growth says about the economy, and how the Federal Reserve could read the data.
How is the U.S. economy doing?
The U.S. economy grew more than expected in the second quarter of 2024, according to new data, although it is still down compared to the second half of last year. CBS News senior business and tech correspondent Jo Ling Kent breaks down the numbers.
U.S. economy grew more than expected
The U.S. economy grew more than expected in the second quarter of 2024, according to the latest gross domestic product data. Jeanna Smialek, a Federal Reserve and U.S. economy reporter with The New York Times, joins CBS News with more.
The story of 2 American economies
Two major stock indexes, the S&P 500 and Dow Jones Industrial Average, are up over 15% compared to a year ago. Financial analysts point to this as an example of the U.S. economy's health, but the benefits are not accessible to all Americans. CBS News' Lindsey Reiser explains.
Inflation slows more than expected in June
Labor Department data released Thursday showed the annual inflation rate cooled from 3.3% in May to 3% in June. That's lower than the 3.1% rate some economists had projected. Jeanna Smialek, Federal Reserve and U.S. economy reporter for The New York Times, joins CBS News to unpack the report.
Fed's Powell says "more good data" could open door to rate cuts
Federal Reserve Chair Jerome Powell told a Senate panel that the economy has returned to its pre-pandemic level: "strong, but not overheated."
June jobs report and labor market change
The U.S. added 206,000 jobs in June and the unemployment rate rose to 4.1%, according to new data from the Labor Department's Bureau of Labor Statistics. CBS News senior business and technology correspondent Jo Ling Kent breaks down the numbers and if they mean a potential interest rate cut in the fall.
What to look for in the U.S. government's June jobs report
Forecasters expect job numbers on Friday to show slower hiring in June, clearing the way for the Fed to cut interest rates later this year.
Americans priced out of housing market
Millions of Americans are being priced out of home ownership, according to a new study by the Harvard Joint Center for Housing Studies. Chris Herbert, managing editor with the center, joins CBS News with more details on the research.
6 states hold primaries today, including key races in California, Iowa
Los Angeles residents will be voting in the mayoral contest, with reality TV star Spencer Pratt hoping to unseat incumbent Mayor Karen Bass.
Live
Senior Iranian officer says return to war with U.S. seems "inevitable"
Prospects for a U.S.-Iran deal seem to dim as the war between Israel and Hezbollah grinds on despite Trump saying they agreed to stop fighting.
Trump signs AI executive order to give government early look at new models
The order asks AI companies to share previews of powerful new models with the government before they are released to the public.
Russian missile, drone attack on Ukraine kills at least 13, officials say
Russian missile, drone strikes kill at least 13 people across Ukraine, authorities say, after President Zelenskyy warned Moscow was planning a "massive new strike."
Trump names controversial housing official Bill Pulte as acting intel chief
President Trump on Tuesday announced he's tapping housing official Bill Pulte to serve as the acting director of national intelligence to replace Tulsi Gabbard.
What are Freedom 250 and America250? Behind the 2 groups planning celebrations
A musical concert series has become a point of political contention, with performers dropping out of the series.
WHO massively scales back number of suspected Ebola cases in Congo
While 330 Ebola infections are confirmed in central Africa and huge challenges remain, hundreds more suspected cases "have been cleared out," the WHO says.
Police in Iowa say they think man shot and killed 6 relatives, then himself
Authorities in Iowa are investigating the fatal shootings of six people they believe were killed by a relative who took his own life when confronted by police.
American soldier and British soldier die in training accident in Iraq
The U.S. and British militaries say one American soldier and one British soldier died during a training exercise in Iraq.
U.S.
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Trump names controversial housing official Bill Pulte as acting intel chief
President Trump on Tuesday announced he's tapping housing official Bill Pulte to serve as the acting director of national intelligence to replace Tulsi Gabbard.
Video shows massive drug-smuggling tunnel connecting U.S. and Mexico
Four people were arrested and charged with trafficking more than $45 million in cocaine through the 2,000-foot-long tunnel complete with reinforced walls, ventilation and a rail system.
White House Correspondents' Dinner rescheduled for July 24
Prosecutors have accused Cole Allen of attempting to assassinate the president when he allegedly attacked the White House Correspondents' Dinner on April 25.
Trump signs AI executive order to give government early look at new models
The order asks AI companies to share previews of powerful new models with the government before they are released to the public.
What are Freedom 250 and America250? Behind the 2 groups planning celebrations
A musical concert series has become a point of political contention, with performers dropping out of the series.
MoneyWatch
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Northlake police warn of gas pump screw scam
The Northlake Police Department issued a warning about a new scam at gas stations that is low tech, but effective.
About 1 in 4 professionals is stuck in a mid-career stall, study finds
Workers who go at least five years without a promotion or meaningful raise can miss out on thousands of dollars in earnings, researchers found.
What to know about the major student loan changes coming July 1
The changes will affect how much students and their parents can borrow, as well as their repayment options.
Anthropic files for IPO, setting up public-market test of AI boom
The filing sets up Anthropic, the maker of the Claude AI chatbot, to sell its shares to the public.
Barry Diller's People Inc. offers to buy MGM Resorts
Diller said that MGM's properties, such as the Bellagio in Las Vegas, can't be easily replaced by AI.
Politics
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Trump names controversial housing official Bill Pulte as acting intel chief
President Trump on Tuesday announced he's tapping housing official Bill Pulte to serve as the acting director of national intelligence to replace Tulsi Gabbard.
White House Correspondents' Dinner rescheduled for July 24
Prosecutors have accused Cole Allen of attempting to assassinate the president when he allegedly attacked the White House Correspondents' Dinner on April 25.
Trump signs AI executive order to give government early look at new models
The order asks AI companies to share previews of powerful new models with the government before they are released to the public.
What are Freedom 250 and America250? Behind the 2 groups planning celebrations
A musical concert series has become a point of political contention, with performers dropping out of the series.
6 states hold primaries today, including key races in California, Iowa
Six states are holding primary contests on Tuesday, including California and Iowa.
HealthWatch
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WHO massively scales back number of suspected Ebola cases in Congo
While 330 Ebola infections are confirmed in central Africa and huge challenges remain, hundreds more suspected cases "have been cleared out," the WHO says.
Details on promising pancreatic cancer drug
A new drug was shown in trials to keep pancreatic cancer patients alive for twice as long as chemotherapy alone. Dr. Jon LaPook has more.
A nurse stole fentanyl and AI missed it, state records say
Sentri7, drug diversion software powered by artificial intelligence and used at hundreds of U.S. hospitals, did not catch a monthslong string of fentanyl thefts in Tennessee in 2025, according to a state document.
New drug nearly doubles survival rates in some pancreatic cancer patients, study says
New research shows a medication called daraxonrasib is helping people with advanced pancreatic cancer live longer.
Woman diagnosed with cancer after minor symptoms: "Couldn't believe it"
Candace Tucker thought her symptoms were benign. A colonoscopy led to an alarming diagnosis.
World
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Legendary wine unveiled after decades hidden under castle floor
The collection once belonged to the noble Beaufort-Spontin family, who were suspected of having collaborated with the Nazis.
WHO massively scales back number of suspected Ebola cases in Congo
While 330 Ebola infections are confirmed in central Africa and huge challenges remain, hundreds more suspected cases "have been cleared out," the WHO says.
American soldier and British soldier die in training accident in Iraq
The U.S. and British militaries say one American soldier and one British soldier died during a training exercise in Iraq.
Bear goes on rampage in Japan, injuring 4 people
A record 13 people were killed by bears in Japan last year, and there has been a jump in sightings as the animals emerge hungry from hibernation.
Ancient coin, mysterious markings found under Notre Dame cathedral
A team of archaeologists at the iconic cathedral is digging straight down and back in time, to Roman Paris 2,000 years ago.
Entertainment
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Entertainment
P!nk talks hosting Tony Awards
Grammy Award winner P!nk is preparing to host the Tony Awards on Sunday on CBS. The singer speaks with "CBS Mornings" about what to expect and why she asked her daughter for permission before agreeing to host.
Marilyn Monroe's friends honor the icon (1962)
Monday marks 100 years since the birth of the iconic Hollywood actress Marilyn Monroe. On Aug. 10, 1962, six days after her death at the age of 36, CBS News aired a retrospective special about the legend's life, featuring interviews with friends, mentors and colleagues.
Vanilla Ice says he'd perform for anybody, including Putin and Iran
"It's not anything to do with politics. I don't know why they're turning it into politics," Vanilla Ice said of the Freedom 250 concerts planned in Washington, D.C.
Vanilla Ice on Freedom 250 concert series
A number of artists have recently said they will not perform at the upcoming multi-day Great American State Fair at Washington, D.C.'s National Mall. It's being put on by the group Freedom 250, which the BBC says was launched by the Trump administration, with the president appointing its CEO. Rapper Vanilla Ice joins to discuss why he believes the show must go on.
Horror films by YouTubers win big at box office
A pair of small-budget horror films made by YouTube creators, "Backrooms" and "Obsession," had a big weekend at the box office. CBS News correspondent Carter Evans reports.
Technology
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Technology
Florida sues OpenAI, CEO Sam Altman
Florida has filed a civil suit against OpenAI and its CEO Sam Altman, accusing them of deceiving users. Jo Ling Kent explains.
Early details on Anthropic's IPO filing
Anthropic, the artificial intelligence company behind the chatbot Claude, has filed to go public, setting up one of the biggest initial public offerings in history. CBS News senior business and technology correspondent Jo Ling Kent has the details.
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.
Florida sues OpenAI over alleged harms caused by ChatGPT
Florida has become the first state to sue OpenAI and its CEO, Sam Altman.
Anthropic confidentially files for IPO
Anthropic, the artificial intelligence company that created the Claude chatbot, said Monday it has confidentially filed for an initial public offering.
Science
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Ancient coin, mysterious markings found under Notre Dame cathedral
A team of archaeologists at the iconic cathedral is digging straight down and back in time, to Roman Paris 2,000 years ago.
New species of blue octopus discovered 5,900 feet underwater
The new species, named Microeledone galapagensis, has a blue hue, which is believed to be the rarest color in nature.
What we know about new UFO file release
The Pentagon has released another batch of never-before-seen files on reported UFO sightings. CBS News senior national security correspondent Charlie D'Agata reports.
Atlantic hurricane season is coming up. Here's what NOAA predicts.
The 2026 Atlantic hurricane season is quickly approaching, and the National Oceanic and Atmospheric Administration is releasing its forecast for what to expect.
2 humpback whales swam record-breaking distance, photos reveal
The pictures represent the longest-distance ever seen between two pictures of the same humpback whale, researchers said.
Crime
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Video shows massive drug-smuggling tunnel connecting U.S. and Mexico
Four people were arrested and charged with trafficking more than $45 million in cocaine through the 2,000-foot-long tunnel complete with reinforced walls, ventilation and a rail system.
Latest on viral North Carolina arrest video
Some of the charges against the North Carolina woman whose violent arrest video went viral were dropped, court records show. In the video, former Shelby police officer Karson Hyder can be seen repeatedly punching Cherrie Moore. CBS News' Shanelle Kaul has more.
Latest on DOJ "anti-weaponization" fund
The Justice Department's plans for an "anti-weaponization" fund continue to face lawmaker backlash and legal battles. CBS News' Weijia Jiang reports.
Fugitive who stole identity of college grad 40 years ago pleads guilty to fraud
A fugitive who lived for more than 40 years under the stolen identity of a University of Arkansas graduate has pleaded guilty to fraud, among other charges.
Trump pausing DOJ "anti-weaponization" fund
The Trump administration is halting the "anti-weaponization" fund that got bipartisan backlash and an unfavorable ruling in court. CBS News' Weijia Jiang reports.
Space
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NASA taps 2 companies to develop buggies for its moon base program
The FLEX Rover will be equipped to carry two astronauts and traverse hundreds of miles of lunar terrain.
Blue Origin assesses impact of New Glenn explosion
Blue Origin assess the impact of Thursday's New Glenn explosion, prompting concern about NASA moon program delays.
Blue micromoon makes rare appearance this weekend
A rare blue micromoon will appear in night skies this weekend. Here's what to expect.
NASA's moon base plans include landers, buggies and drones for 2028 mission
Jeff Bezos' Blue Origin, Astrolab, Lunar Outpost and Firefly Aerospace are awarded with hundreds of millions of dollars in NASA contracts for the first phase of its moon base plans.
China launches spacecraft with astronaut set to remain in space for a year
China has launched the Shenzhou 23 spacecraft with three astronauts heading to its space station.
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
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Latest CBS News Videos
Video shows drug-smuggling tunnel at border
Authorities said they found a "sophisticated" cross-border tunnel under a fake store in San Diego used to smuggle drugs from Mexico after a monthslong Homeland Security investigation. Four suspects have been charged in the operation and authorities seized more than a ton of cocaine with an estimated value of $45 million.
Latest on viral North Carolina arrest video
Some of the charges against the North Carolina woman whose violent arrest video went viral were dropped, court records show. In the video, former Shelby police officer Karson Hyder can be seen repeatedly punching Cherrie Moore. CBS News' Shanelle Kaul has more.
Newark mayor calls for ICE facility closure
Newark Mayor Ras Baraka has called for the closure of the Delaney Hall immigration facility, which has been the subject of ongoing violent protests in New Jersey. CBS News' Camilo Montoya-Galvez has the latest.
Expert weighs in on Israel, Hezbollah clashes
Oded Ailam, a former head of counterterrorism for Israel's Mossad and researcher at the Jerusalem Center for Security and Foreign Affairs, joins to discuss the clashes between Israel and Hezbollah in Lebanon.
Senator presses Rubio on China and Taiwan
Secretary of State Marco Rubio says the U.S. wants to preserve the status quo in Taiwan, despite a changing shift in rhetoric on tensions with China.