Fed rate hikes are over, economists say. Here's the impact on your money.
The central bank has pushed pause after 11 straight interest-rate hikes. Here are steps to take with your money now.
Interest Rates
Fed leaves interest rate unchanged, but hints at cuts for 2024
In its last rate decision of 2023, the central bank said it is holding its benchmark rate steady amid cooling inflation.
Federal Reserve to decide on interest rates
The Federal Reserve on Wednesday will announce another decision on interest rates with the expectation it will not raise or cut them. CBS News contributor and Axios' managing editor of business and markets Javier David joins CBS News with his analysis.
Fed unlikely to raise interest rates
Wholesale inflation remained unchanged in November after Dow Jones economists predicted a tenth of a percentage point increase. Lori Bettinger, the president of BancAlliance and former director of the Troubled Asset Relief Program, joined CBS News to discuss what the new numbers could mean for interest rates.
Jill Schlesinger on inflation, interest rates
CBS News business analyst Jill Schlesinger joins "CBS Mornings" to discuss the latest Consumer Price Index report, which shows inflation slowing. Plus, what to expect on interest rates from the final Federal Reserve meeting of the year.
Inflation holds steady in latest CPI report
Consumer prices crept up a tenth of a percent in November as the cost of certain goods and services rose last month while energy and gas prices saw a decline. CBS News senior business and technology correspondent Jo Ling Kent has more.
Rate hike pause could be good for your 401(k)
An end to the interest rate hike cycle may be in sight with inflation cooling. Al Root, a senior writer at Barron's, breaks down how the rate hike pause could positively impact your retirement savings plans.
Inflation flattens in October: CPI report
Inflation eased in October amid lower prices for gasoline and cars, according to a report from the Labor Department on Tuesday. Jeanna Smialek, a Federal Reserve and economy reporter for The New York Times, joined CBS News to discuss the CPI report.
Americans postponing home searches: WSJ
A new report from The Wall Street Journal says people are delaying purchasing homes by years and instead choosing to spend their money in other ways. The National Association of Realtors found existing home sales were down more than 15% year-over-year in September. James Rodriguez, a senior real estate reporter with Insider, joined CBS News to discuss the market.
What the Fed rate pause means for your wallet
The Federal Reserve on Wednesday left interest rates steady for a second consecutive time. CBS News senior business and technology correspondent Jo Ling Kent explains what that means for Americans.
Why the Fed left interest rates unchanged
The Federal Reserve on Wednesday held its benchmark interest rate steady for a second consecutive time while upgrading its view of the U.S. economy and leaving open the possibility of additional rate hikes should inflation quicken in coming months. David Wessel, director of the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution, joined CBS News to discuss the reasoning behind the decision.
October jobs report falls short
Fewer jobs than analysts expected were added last month, and the country's unemployment rate ticked up to 3.9%, the highest it has been since Jan. 2022. The report comes after the Federal Reserve held interest rates steady earlier this week. Jo Ling Kent explains what this means for your wallet.
Unchanged rates impact small businesses
Americans are grappling with the repercussions of sustained high interest rates, which have been hovering just over 5% since July – the highest in decades. The Federal Reserve's decision Wednesday to keep rates steady signals continued challenges for those looking to borrow. CBS News' Jo Ling Kent reports.
Federal Reserve leaves rates unchanged
The latest decision by the Federal Reserve to hold off on increasing interest rates any further may signal that the U.S. economy is moving in the right direction. CBS News business analyst Jill Schlesinger and J.D. Durkin, a host for the financial news site "TheStreet," join CBS News to discuss the decision.
Fed to issue interest rate decision Wednesday
Federal Reserve Chairman Jerome Powell will issue the central bank's latest decision on interest rates Wednesday after pausing rate hikes in September. Greg Robb, a senior reporter and economics editor for MarketWatch, joined CBS News to discuss how the Fed will make its decision.
What the Fed's rate decision this week could mean for mortgage rates
With mortgage rates topping 8%, some home buyers are hoping to see some relief with the Federal Reserve's next decision.
Small businesses feeling interest rate pain
Consumers and businesses are struggling with high interest rates. The New York Times says startups and small businesses have been forced to adapt amid high costs and a scarcity of capital. CBS News business analyst Jill Schlesinger has more.
U.S. unemployment at lowest level in 8 months
Unemployment claims in the U.S. are at their lowest level in about eight months, with first-time applications falling by 13,000 last week to 198,000. Victoria Guida, an economics policy reporter for Politico, joined CBS News to discuss the numbers.
Could a housing market recession be looming?
The lack of housing supply in the United States is related to the ongoing spikes in interest rates. Mark Hamrick, a senior economic analyst for Bankrate, joins CBS News to explain the mortgage "lock-in effect," which may be keeping homes off the market.
Biden's new plan for more manufacturing jobs
During President Biden's remarks today on the September jobs market, he took questions on why sentiments among Americans about the economy may not reflect what the strength this month's data yields. Biden also announced more American jobs in manufacturing. CBS News chief White House correspondent Nancy Cordes has more.
Tracking the impact of interest rate hikes
The average interest rate on a credit card in November 2021 was 16.4%. As of September, the average credit card interest rate is nearly 24.5%. Javier David, managing editor at Axios, joined CBS News to discuss other ways rising interest rates are putting pressure on Americans.
Home sales down 15% from 2022, data shows
Existing home sales fell almost 1% in August and were down about 15% over the past year, according to new data from the National Association of Realtors. Aarthi Swaminathan, personal finance reporter for MarketWatch, joined CBS News to discuss the numbers.
U.K. pauses interest rate hikes, joining U.S.
The Bank of England followed the U.S. Federal Reserve's lead Thursday, leaving interest rates unchanged for the first time in nearly two years, but the U.K.'s rate remains at a 15-year high of 5.25%. Martin Baccardax, senior editor and chief markets correspondent for financial news website TheStreet, joins CBS News to talk about the pause in rate hikes.
High mortgage rates creating challenges for buyers
With mortgage rates hovering above 7% for five straight weeks, prospective buyers are facing a housing shortage as would-be sellers seek to keep their low, locked-in rates. Nancy Chen has details.
Federal Reserve pauses interest rate hikes — for now
The central bank is leaving interest rates unchanged after 11 hikes since March 2022, which has boosted borrowing costs for millions of Americans.
Live
Iran claims strikes on ships in Strait of Hormuz and U.S. base in Kuwait
Iran says it targeted U.S. facilities in Kuwait and struck two tankers in the Strait of Hormuz that were under "aerial escort" from the U.S.
Spain sends over 25,000 migrants back to Morocco from Ceuta; dozens dead
The president of Ceuta, Juan Jesús Vivas, estimated that 60,000 migrants had entered the enclave from Morocco and said that at least 34 people had died.
Trump says Hamas agreed to next phase of Gaza peace deal, including disarmament
The president says Hamas and his international "Board of Peace" have agreed on the next steps in a peace deal that includes Hamas' disarmament in the Gaza Strip.
U.S. probing if Iran was behind cyberattack on water systems in 7 states
Malicious cyber activity affected technology at water systems in at least seven states this week, including Minnesota, leading authorities to dig into whether Iranian actors are behind the attack, CBS News has learned.
First on CBS
Democrats demand training info on ICE agent who killed immigrant in Maine
Two Democrats are demanding details and records about the training of an ICE officer who shot and killed a Colombian immigrant in Maine, according to a letter obtained by CBS News.
Peptide vendor sentenced to nearly 6 years in prison: "An incredible trail of harm"
A federal judge sentenced the owner of a peptide company to nearly six years in prison after finding the business deceived customers and sold products that were adulterated with steroids.
People with disabilities fear service cuts as DOJ questions legal protections
The Department of Justice in June issued a legal opinion saying states aren't required to provide services that help people with disabilities remain in their homes.
Exclusive
Pentagon weighs eliminating civilian tenure at military academies, draft memo says
The Pentagon is considering a sweeping remake of military higher education, including an end to civilian tenure and a "line-by-line" review of courses, according to a draft memo obtained by CBS News.
Netflix sued for allegedly losing unreleased Nicolas Cage movie
Lawsuit alleges that a drive storing $45 million spy film starring Nicolas Cage was "stolen right off a Netflix desk."
U.S.
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Exclusive
Canelo Álvarez prepares for his return to the boxing ring
Boxer Saúl "Canelo" Álvarez spoke exclusively to "CBS Mornings" about his return to the ring, building his career and his future in the sport.
New York sues Kalshi, alleging it enables illegal gambling
A growing number of U.S. states are seeking to crack down on prediction markets, but face pushback from federal regulators.
OCTROT heated blankets and throws recalled after fires and injuries
Chinese-made electric bedding poses "risk of serious injury or death," according to U.S. product safety regulators.
Lawyer for Rep. Miller's ex-wife files for restraining order amid abuse claims
The ex-wife of GOP Rep. Max Miller asked a court to issue a restraining order blocking Miller from contacting her lawyer, as the Ohio congressman faces allegations of abuse — which he denies.
Anthropic reveals Claude "gained unauthorized access" to "real-world systems"
Anthropic's artificial intelligence model Claude "gained unauthorized access" to three outside organizations on three separate occasions during testing.
MoneyWatch
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New York sues Kalshi, alleging it enables illegal gambling
A growing number of U.S. states are seeking to crack down on prediction markets, but face pushback from federal regulators.
OCTROT heated blankets and throws recalled after fires and injuries
Chinese-made electric bedding poses "risk of serious injury or death," according to U.S. product safety regulators.
Anthropic reveals Claude "gained unauthorized access" to "real-world systems"
Anthropic's artificial intelligence model Claude "gained unauthorized access" to three outside organizations on three separate occasions during testing.
American Airlines makes its flight refund policy more restrictive
American Airlines is tightening its flight refund and cancellation policy. Here's what to know.
Poll analysis on cost of living and whether political parties have answers
Big majorities of Americans have said their incomes are not keeping up with inflation, and feel the president isn't focused enough on the issue.
Politics
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Lawyer for Rep. Miller's ex-wife files for restraining order amid abuse claims
The ex-wife of GOP Rep. Max Miller asked a court to issue a restraining order blocking Miller from contacting her lawyer, as the Ohio congressman faces allegations of abuse — which he denies.
First on CBS
Democrats demand training info on ICE agent who killed immigrant in Maine
Two Democrats are demanding details and records about the training of an ICE officer who shot and killed a Colombian immigrant in Maine, according to a letter obtained by CBS News.
People with disabilities fear service cuts as DOJ questions legal protections
The Department of Justice in June issued a legal opinion saying states aren't required to provide services that help people with disabilities remain in their homes.
Ukrainian ambassador tracks how Kyiv's relationship with D.C. has evolved
The outgoing Ukrainian ambassador to the U.S. says Ukraine has been able to combat what she said characterized as a prior, erroneous narrative that Russia was winning the war, now in its fifth year.
Exclusive
Pentagon weighs eliminating civilian tenure at military academies, draft memo says
The Pentagon is considering a sweeping remake of military higher education, including an end to civilian tenure and a "line-by-line" review of courses, according to a draft memo obtained by CBS News.
HealthWatch
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HealthWatch
Peptide vendor sentenced for "trail of harm"
A federal judge sentenced the owner of a peptide company to nearly 6 years in prison for deceiving customers and selling products adulterated with steroids, citing a "trail of harm." Adam Yamaguchi reports.
People with disabilities fear service cuts as DOJ questions legal protections
The Department of Justice in June issued a legal opinion saying states aren't required to provide services that help people with disabilities remain in their homes.
Senate committee advances Dr. Erica Schwartz to be Trump's CDC director
If confirmed by the full Senate, Dr. Erica Schwartz would become the 22nd director of the Atlanta-based Centers for Disease Control and Prevention.
Millions of kids have caffeine in their diet. It's not all coming from soda.
On any given day, kids consume an average of 19.4 milligrams of caffeine, which is about two-thirds of what's in a can of Coke, according to a new report.
Extended Interview: Jay Bhattacharya
Rob Gutman speaks with Jay Bhattacharya, director of the National Institutes of Health and acting director of the CDC, about Dr. Anthony Fauci's actions during the pandemic, the possible origins of COVID-19, vaccines and more.
World
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Spain sends over 25,000 migrants back to Morocco from Ceuta; dozens dead
The president of Ceuta, Juan Jesús Vivas, estimated that 60,000 migrants had entered the enclave from Morocco and said that at least 34 people had died.
FIFA official resigns in protest of World Cup investment plan
The pressure is rising on FIFA President Gianni Infantino to ditch a $20 billion privatization plan, but soccer's governing body is doubling down and criticizing the media.
Live
Iran claims strikes on ships in Strait of Hormuz and U.S. base in Kuwait
Iran says it targeted U.S. facilities in Kuwait and struck two tankers in the Strait of Hormuz that were under "aerial escort" from the U.S.
Famed climber Nirmal Purja among 10 missing on Pakistan peak; 4 bodies recovered
Rescuers searching for 10 climbers missing on Pakistan's Broad Peak located four bodies and were looking for the others, officials said. Acclaimed climber Nirmal Purja was among the missing.
Ukrainian ambassador tracks how Kyiv's relationship with D.C. has evolved
The outgoing Ukrainian ambassador to the U.S. says Ukraine has been able to combat what she said characterized as a prior, erroneous narrative that Russia was winning the war, now in its fifth year.
Entertainment
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Entertainment
"Spider-Man: Brand New Day" swings into theaters
Just weeks after "Supergirl" underperformed at the box office, the ninth live-action Spider-Man film since 2002 is expected to premiere with a projected global opening of as much as $465 million. Marlow Stern, chief correspondent at Variety, joins CBS News to discuss.
From the archives: Spider-Man creator Stan Lee
The creator of such superheroes as Spider-Man, Iron Man, the Avengers and the Fantastic Four, Stan Lee (1922-2018) was a comic book genius whose characters made him a superhero himself to legions of fans. In this report that originally aired Jan. 17, 2016, Lee talked with "Sunday Morning" correspondent Lee Cowan about his marvelous life story that, fittingly, was published in comic-book form.
Netflix sued for allegedly losing unreleased Nicolas Cage movie
Lawsuit alleges that a drive storing $45 million spy film starring Nicolas Cage was "stolen right off a Netflix desk."
From the archives: "Once" songwriter Glen Hansard
Irish singer-songwriter Glen Hansard, an Oscar-winner for "Once" (which became a Tony Award-winning musical), died July 29, 2026 at age 56. In this March 17, 2013 "Sunday Morning" profile, Hansard talked with Anthony Mason about growing up as a street performer in Dublin, and his meteoric rise to fame as a member of the rock band The Frames and (with Markéta Irglová) half of the duo The Swell Season. Also: A web extra featuring Hansard busking on the streets of New York City.
Actor Jared Leto facing allegations
Actor Jared Leto is facing allegations of criminal sexual conduct, which he has denied. In a new BBC documentary, four women accuse Leto of targeting them when they were underage. Lilia Luciano has the latest.
Technology
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Technology
Is Iran targeting the U.S. water supply?
Investigators are examining whether Iran was involved with a series of cyberattacks on water systems in Minnesota and other states. Nicole Sganga reports.
U.S. probing Minnesota water systems hackings
The U.S. is investigating whether Iran hacked more than 30 community water systems across Minnesota, CBS News has learned. Nicole Sganga reports.
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.
Anthropic reveals Claude "gained unauthorized access" to "real-world systems"
Anthropic's artificial intelligence model Claude "gained unauthorized access" to three outside organizations on three separate occasions during testing.
Altman expresses support for AI slowdown
Emily Birnbaum, a corporate lobbying reporter at Bloomberg News, joins "The Daily Report" to discuss what OpenAI CEO Sam Altman's lobbying efforts in Washington, D.C., mean for the industry as he voices his support for pacing AI development.
Science
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Science
How plants feel
Science shows us that, even though plants don't have brains, they seem to have a nervous system that responds to touch in remarkable ways. Robert Krulwich and puppeteer Barnaby Dixon explore the science of thigmomorphogenesis (the phenomenon of plants reacting to outside stimulae), a discussion that plants the seeds for a song.
Nearly 30 beluga whales sent to the U.S.
Nearly 30 beluga whales were sent to aquariums across the U.S. in a multinational emergency operation after their home aquarium in Canada shuttered. Jared Ochacher reports.
SpaceX launches first rocket since IPO
Elon Musk's aerospace company, SpaceX, launched its massive Starship rocket in its first test flight since the company went public. Since achieving the largest IPO in history, SpaceX's stock has dropped drastically. Mark Strassmann takes a look.
Wildfire smoke continues to shroud U.S.
Millions of people are enduring dangerous air quality as Canadian wildfire smoke shrouds the skies. Jonathan Overpeck, dean of the School for Environment and Sustainability at the University of Michigan, explains how climate change is worsening wildfires.
How AI data centers impact the environment
New York has become the first state to impose a temporary moratorium on data center development while state lawmakers lay the groundwork to assess environmental and social impacts. Dr. Mike Weinstein, the director of sustainability at Southern New Hampshire University, explains what we know about the wider environmental impact data centers.
Crime
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Crime
Dad who gave gun to school shooter sentenced
Colin Gray, the father of the teen who was convicted of killing four in a mass shooting at Apalachee High School in Georgia, has been sentenced to 15 years in prison for second-degree murder and involuntary manslaughter. Prosecutors said he ignored warning signs, giving his son an assault-style semiautomatic rifle and ammunition as a gift.
Concerning cyberattacks on water facilities
The U.S. is investigating whether Iran is behind the attacks on water facilities in at least seven states. CBS News' Nicole Sganga reports.
Peptide vendor sentenced for "trail of harm"
A federal judge sentenced the owner of a peptide company to nearly 6 years in prison for deceiving customers and selling products adulterated with steroids, citing a "trail of harm." Adam Yamaguchi reports.
Rep. Max Miller denies abuse allegations
Ohio Republican Rep. Max Miller has drawn scrutiny after his ex-wife said he abused her and their young daughter. Miller denies the allegations. Democrats want an ethics investigation.
New details on Nancy Guthrie investigation
Pima County Sheriff Chris Nanos, who has led the local investigation into Nancy Guthrie's disappearance, spoke to CBS News' Jonathan Vigliotti and revealed more details on the probe.
Space
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Russian Soyuz brings three home after 8 months at space station
The Soyuz MS-28 landing in Kazakhstan brought a 241-day stay in space to a successful conclusion.
SpaceX's Super Heavy-Starship blasts off on 13th test flight
An upgraded version of the world's most powerful rocket is key to landing NASA astronauts on the moon in the agency's Artemis program.
Meteorite that hit home contains "alien world chemistry," experts say
When scientists examined the preserved fragments of a meteorite that crashed in 2024, they found brine-like fluids and key molecules.
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.
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.
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.
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.
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
Canelo Álvarez on his drive to fight and win
With over 60 wins and world titles across four weight divisions, champion boxer Saúl "Canelo" Álvarez has become an icon in Mexico. "CBS Mornings" sat down with Álvarez to learn what drives him.
Trans athlete debate heats up in the WNBA
The debate over transgender athletes has overtaken the WNBA after a co-owner of the Seattle Storm was fined for her heated exchange with fans of Indiana Fever guard Sophie Cunningham. Cunningham is known for her stance against trans athletes in women's sports.
Dad who gave gun to school shooter sentenced
Colin Gray, the father of the teen who was convicted of killing four in a mass shooting at Apalachee High School in Georgia, has been sentenced to 15 years in prison for second-degree murder and involuntary manslaughter. Prosecutors said he ignored warning signs, giving his son an assault-style semiautomatic rifle and ammunition as a gift.
Why some menopausal women try testosterone
Some menopausal women are taking testosterone or other forms of hormone replacement therapy in order to circumvent certain symptoms. Dr. Taraneh Shirazian explains the potential risks and benefits.
Questions on ICE agent who killed immigrant
Democratic California Rep. Robert Garcia and Connecticut Sen. Richard Blumenthal are demanding more details on the Immigration and Customs Enforcement officer who killed Colombian immigrant Johan Sebastián Durán Guerrero in Maine. CBS News' Camilo Montoya-Galvez reports.