Federal Reserve holds interest rates steady, citing economic uncertainty
Fed officials are grappling with a host of economic challenges, from stubborn inflation to a slowing job market.
Interest Rates
Dow closes down after Fed holds rates steady
The stock market responded negatively on Wednesday after the Federal Reserve left its benchmark interest rate unchanged for a second straight policy meeting. CBS News MoneyWatch correspondent Kelly O'Grady has more.
Fed decides to hold interest rates steady
The Federal Reserve announced Wednesday it would hold interest rates steady at 3.5% to 3.75%. CBS News' Kelly O'Grady reports.
The Iran war is making it harder for Fed officials to cut interest rates
Some economists think the Fed, facing inflationary pressures from rising energy prices, may not cut interest rates at all this year.
Judge quashes subpoenas sent to Federal Reserve
A judge on Friday quashed subpoenas sent to the Federal Reserve as part of the Justice Department's criminal probe. CBS News justice correspondent Scott MacFarlane has the details.
Pirro blasts judge's ruling quashing Fed subpoenas
U.S. Attorney for the District of Columbia Jeanine Pirro held a fiery news conference on Friday after a judge quashed subpoenas sent to the Federal Reserve as part of the Justice Department's criminal probe. CBS News' Scott MacFarlane joins with analysis.
Home prices could dip in 22 U.S. cities next year, report says. See where.
A new report from Realtor.com projects that the housing market will shift in a more buyer-friendly direction in 2026.
How Federal Reserve rates impact your wallet
Here's how changes at the Federal Reserve can matter in your life as President Trump pushes for new leadership.
Trump names Kevin Warsh as Fed Chair pick
President Trump on Friday announced former Fed Gov. Kevin Warsh as his pick to replace Jerome Powell as Federal Reserve Chair. CBS News MoneyWatch correspondent Kelly O'Grady breaks down Warsh's experience.
Trump says he will pick Fed chair next week
President Trump held his first Cabinet meeting of the year on Thursday, addressing a range of topics, including the future of the Federal Reserve. CBS News White House reporter Olivia Rinaldi has more.
Why the Fed held interest rates steady
The Federal Reserve, as expected, left its benchmark interest rate unchanged on Wednesday. The decision to keep the rate at its current mark comes after the central bank ended 2025 with three consecutive rate cuts. CBS News business analyst Jill Schlesinger breaks down the decision.
Powell: Economy has "pushed right through" trade changes
The Federal Reserve held interest rates steady on Wednesday, marking its first pause after three consecutive cuts in 2025. CBS News coordinating producer Richard Escobedo has the latest.
No change to interest rates, Fed announces
The Federal Reserve announced Wednesday that interest rates would remain unchanged, holding steady in its current range of 3.5% to 3.75%. CBS News business analyst Jill Schlesinger has more.
Federal Reserve cuts decision expected
The Federal Reserve is expected to make its first announcement of the year regarding interest rate cuts. Greg Robb, a senior reporter for MarketWatch, joins CBS News with more.
Fed to make first 2026 interest rate decision
The Federal Reserve is meeting Tuesday to discuss its first interest rate decision of 2026 on Wednesday. Kristin Myers, ETF editor-in-chief for Asset TV, joins with more.
Luna pushes for bill capping credit card rates
Earlier this month, President Trump ordered banks to lower credit card interest rates to 10%. Nothing has happened because legislation is required. Republican Rep. Anna Paulina Luna of Florida joined CBS News to discuss her bill with Democratic Rep. Alexandria Ocasio-Cortez that would codify the 10% cap.
Trump officials predict a 2026 economic boom. Here's what experts say.
Commerce Secretary Howard Lutnick predicts that first-quarter economic growth will heat up to 5%. But sustaining that pace won't be easy, economists say.
U.S. mortgage rates are dropping
Mortgage rates have dropped to a three-year low, prompting some homeowners to consider refinancing. CBS News' Megan Cerullo reports.
Trump pushes credit card interest rates cap
President Trump is pushing for a 10% interest rate cap for credit cards. CBS News' Jill Schlesinger breaks down the implications.
What Trump's 10% credit card rate cap would mean for consumers
Capping credit card interest rates at 10% could save consumers billions of dollars, but potentially hurt lower-income Americans, experts said.
Lawmakers warn Fed's independence at stake
The Trump administration's Justice Department has launched a criminal investigation of Fed Chair Jerome Powell tied to the renovation of the Federal Reserve's headquarters. The move has prompted backlash from both sides of the aisle. Weijia Jiang reports.
Powell responds to federal investigation
Federal Reserve Chair Jerome Powell said in a video Sunday that the Justice Department is investigating whether he lied to Congress about the Central Bank's renovation project. He compared the threat of criminal indictment to intimidation and said, "This unprecedented action should be seen in the broader context of the administration's threats and ongoing pressure." Scott MacFarlane reports.
Economic news to watch for in 2026
With just one day left of trading before the new year, CBS News is taking a look at where things stand today and what might be driving the markets in 2026. Dallas Morning News business editor Javier David joins with more.
Moynihan on new Fed chair
Bank of America CEO Brian Moynihan talks prices, affordability, inflation predictions for 2026, the "shock" from the business community when President Trump enacted tariffs and how "the market will punish people if we don't have an independent Fed." Editor's note: This interview was filmed on Dec. 17, 2025.
How jobs data impacts interest rate decision
The U.S. Bureau of Labor Statistics released last month's jobs report on Tuesday, which showed that 64,000 jobs were added in November after losing 105,000 in October. CBS News MoneyWatch correspondent breaks down how unemployment data could impact the Fed's next interest rate decision
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.
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.
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.
U.S.
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Apple sues OpenAI, accusing ChatGPT maker of stealing trade secrets
Apple alleges that OpenAI and two of its employees stole trade secrets and engaged in a "pattern of misconduct."
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.
MoneyWatch
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Apple sues OpenAI, accusing ChatGPT maker of stealing trade secrets
Apple alleges that OpenAI and two of its employees stole trade secrets and engaged in a "pattern of misconduct."
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.
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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Apple sues OpenAI, accusing ChatGPT maker of stealing trade secrets
Apple alleges that OpenAI and two of its employees stole trade secrets and engaged in a "pattern of misconduct."
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.
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.
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.
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.
Science
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Science
Watch: Pentagon releases 19 new UFO videos
The Defense Department released a fourth batch of UFO files on Friday, nearly one month after its third drop. These are all of the videos in the latest tranche, plus analysis from astrophysicist Avi Loeb.
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.
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
U.S., Iran halt fighting after 2 days of strikes
President Trump again said on Friday that the ceasefire with Iran is "over," but that the U.S. will continue negotiating. CBS News' Margaret Brennan and Elliot Ackerman have the latest.
Senate candidate talks Collins, Platner
Graham Platner is officially out of the Maine Senate race after facing sexual assault allegations. Democratic candidate Dan Kleban joins CBS News to make his case as Platner's replacement.
HHS weighs COVID vaccine injury payouts
The Health and Human Services department is compiling a list of injuries that would make COVID vaccine recipients automatically eligible for compensation. Dr. Céline Gounder joins The Takeout to explain what this means.
Housing bill to become law despite Trump protest
The landmark bipartisan housing bill is set to become law overnight into Saturday despite President Trump's refusal to sign it. CBS News chief White House correspondent Nancy Cordes reports.
Watch: Pentagon releases 19 new UFO videos
The Defense Department released a fourth batch of UFO files on Friday, nearly one month after its third drop. These are all of the videos in the latest tranche, plus analysis from astrophysicist Avi Loeb.