Economy sends mixed signals
For the first time in 15 months, the Fed paused hikes in interest rates as inflation has started to wane — although it remains high. Mark Strassmann reports.
Interest Rates
Closer look at inflation and interest rate
CBS News business analyst Jill Schlesinger breaks down the decision by the Federal Reserve to pause raising interest rates this month, and how the U.S. is doing with inflation.
Here's what the Fed's interest rate pause means for your money
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
Fed hits pause on interest rates hikes
After 10 straight interest rate hikes done in an effort to combat inflation, the Federal Reserve on Wednesday chose to pause those rate hikes. However, Federal Reserve Chair Jerome Powell did signal that more rate hikes could be coming later this year. Weijia Jiang has more.
Federal Reserve pauses interest rate hikes
The Federal Reserve has decided to leave interest rates unchanged after a Consumer Price Index report this week showed inflation is cooling. CBS News business analyst Jill Schlesinger and Javier David, managing editor for business and markets at Axios, have more.
White House sees "progress" on inflation
Addressing the latest Consumer Price Index, President Biden said in a statement Tuesday that there was "continued progress tackling inflation," but "more work to do." The Biden administration also announced Wednesday that Secretary of State Antony Blinken will head to China this week. CBS News chief White House correspondent Nancy Cordes has more.
Fed expected to pause interest rate hikes
Inflation was lower in May, falling for the 11th straight month. And that could mean no more Federal Reserve interest rate hikes, at least for now. CBS News chief White House correspondent Nancy Cordes has more.
Inflation cools again in May
Inflation has continued to ease, according to new Consumer Price Index data released by the U.S. Bureau of Labor Statistics on Tuesday morning. Scott Wren, a senior global market strategist for Wells Fargo Investment Institute, joins CBS News with more.
Fed considers pausing interest rate hikes
Officials at the Federal Reserve are considering pausing interest rate hikes at their next meeting, which starts June 13. But Friday's strong jobs report may complicate the Fed's path forward after 10 consecutive increases. Jeanna Smialek, a Federal Reserve and economy reporter for the New York Times, has more.
Mild recession possible as job numbers stay hot
The U.S. averted disaster by raising the debt ceiling, but a mild recession is still possible even as job numbers remain hot, according to the head of Bank of America. Mark Strassmann breaks down how the U.S. economy is doing.
Coastal home buyers face low inventory
Home buyers in many U.S. coastal areas are facing a competitive real estate market, in part thanks to a spiking interest rate. Buyers are being advised to prepare to settle, bring cash offers and close quickly. Carter Evans and Mark Strassman report.
Bipartisan deal reached to raise the debt limit
After President Biden brokered a deal with Speaker McCarthy to raise the debt ceiling by $4 trillion, they spent the weekend trying to secure enough votes to pass the bill by the June 5 deadline. Scott MacFarlane reports.
Biden optimistic Democrats will back debt plan
President Biden and House Speaker McCarthy both expressed optimism that they would be able to get their respective parties on board for the debt ceiling plan they negotiated. Natalie Brand has the latest.
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Washington leaders work to prevent debt default
The White House and Republican congressional leaders are continuing to negotiate in an effort to prevent an unprecedented debt default, which could happen as soon as next week. House Democrats have signed a petition to raise the debt ceiling.
McCarthy, Biden still far apart in debt talks
House Speaker McCarthy said Tuesday that he and President Biden are "nowhere close" to a deal on raising the debt limit. Negotiators continue to meet as the default deadline approaches. Nikole Killion has more.
Biden, McCarthy to meet Monday for talks
President Biden and House Speaker McCarthy will meet in person on Monday to continue debt ceiling talks as the deadline for a government default approaches. Willie James Inman has the latest.
Retail earnings show mixed results
Stocks closed in the green Wednesday, as investors react to the debt ceiling negotiations and new earnings data. Wall Street Journal markets reporter Hannah Miao joined CBS to explain what the information means for investors and consumers.
Consumer Price Index up 0.4% in April
The Consumer Price Index shows inflation rose 0.4% between March and April. Prices rose 4.9% year-over-year. Axios managing editor for business and markets and CBS News contributor Javier David discusses what this means for the economy with Anne-Marie Green and Vlad Duthiers.
Investors monitoring debt ceiling, inflation data
Stocks closed flat Tuesday as investors await an agreement on the federal debt ceiling and new economic data on inflation. AlphasFuture founder and investment manager Geetu Sharma joined CBS News to discuss what the new information will mean for investors.
Markets, money and Americans' mental health
Stocks closed flat Monday as investors await new data on consumer and producer prices. Bankrate senior industry analyst Ted Rossman joins CBS News to discuss the markets as well as a new survey on personal finances and mental health.
Markets react to jobs report, interest rates
Javier David, a CBS News contributor and managing editor for business and markets for Axios, and Jeanna Smialek, an economics reporter for The New York Times, join us to discuss the latest financial news, including the April jobs report released today, the Federal Reserve's decision to raise interest rates again this week, and the health of the nation's banking system.
How interest rate hikes affect debt, loans
The Federal Reserve increased its key interest rate by a quarter of a point Wednesday, the 10th straight hike since last March. Anita Hamilton, assistant managing editor at Barron's, joined CBS News' Vladimir Duthiers and Anne-Marie Green to discuss the effects of the hikes.
Interest rates could alter Biden's reelection
The Fed has raised interest rates again. Nancy Cordes joins "CBS News Mornings" to explain the impact this could have at the White House.
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California bank hostage situation ends after suspect shot dead
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Bass to advance in LA mayor's race as Pratt and Raman vie for final spot
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Bessent testifies he told Pulte he was "going to kick his a**," not punch him
Bill Pulte, President Trump's pick for acting director of national intelligence, is being met with some skepticism on Capitol Hill.
Ford recalls nearly 420,000 vehicles over faulty seat belts
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Grenell says he was "rattled" by sentencing of man convicted of threatening him
Ric Grenell, the former president of the Kennedy Center, gave a victim impact statement in court about the threats.
Air traffic controller calls pilot "insane" after close call at Florida airport
Air traffic control also referred to the pilot of a small plane as "Mad Max."
Outback Steakhouse sued for $1.5M over alleged mashed potato slip-and-fall
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Ford recalls nearly 420,000 vehicles over faulty seat belts
Safety watchdog said seat belts in certain Ford Expedition and Lincoln vehicles may inadvertently lock, preventing them from functioning properly.
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The Points Guy's annual ranking gives extra weight to affordability this year as higher fuel costs and airline fees squeeze travelers.
Outback Steakhouse sued for $1.5M over alleged mashed potato slip-and-fall
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Social Security checks could be cut by $500 a month in 2032, report finds
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Connie Chan and Scott Wiener advance in race to succeed Pelosi, CBS News projects
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Bessent testifies he told Pulte he was "going to kick his a**," not punch him
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8 bagged bodies found with note in narco-trafficking hotspot
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At least 21, mostly foreign nationals, dead in fire at India hotel
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Could Intel's chips save the U.S. economy?
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Update on California hostage situation
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Hostage situation ends at California bank
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Update on California hostage situation
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