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.
Interest Rates
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.
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.
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.
U.S.
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Ross Fire still burning, with over 90,000 acres scorched
The wildfire, which has torn through Palo Pinto and Jack counties, forced evacuations, closed roads and disrupted schools.
New Hampshire Senate race set between Pappas and Sununu after projected primary wins
Rep. Chris Pappas defeated democratic socialist Karishma Manzur in the Democratic primary, while former Sen. John Sununu defeated Scott Brown in the GOP contest.
Federal judge backs Missouri's new House map after Supreme Court rebuffs case
A federal judge ruled that Missouri should use a new congressional map that favors Republicans for now, hours after the U.S. Supreme Court left in place a ruling from the state's highest court directing Missouri to use an older map.
Lindsay Clancy juror speaks after mistrial: "There was so much doubt"
A woman who served as a juror in Lindsay Clancy's high-profile Massachusetts murder trial provided a look at deliberations, saying there was too much doubt for her to reach a guilty verdict.
Why some key GOP candidates are skipping Trump-backed midterm convention
President Trump and top GOP leaders are gathering in Dallas for a midterm convention, though some Republicans in competitive races are opting to skip it and campaign in their home districts or states.
MoneyWatch
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Trump administration to ban some Canadian motorcycles, dairy, alcohol
The Trump administration moved Tuesday to ban imports of Canadian motorcycles, some dairy products and most types of alcohol starting later this month, intensifying the trade war between the two countries.
Apple event expected to debut foldable iPhone and new CEO John Ternus
Apple's Sept. 9 tech showcase is set to feature new CEO John Ternus unveiling its first foldable iPhone and the iPhone 18.
Bombardier caught in the crossfire of escalating U.S.-Canada feud
President Trump threatened to ban Bombardier sales in the U.S. as Canada's retaliatory tariffs take effect. Here's what to know about the aircraft maker.
Goldman Sachs warns oil prices could hit $120 as U.S. fuel costs surge
Higher gas and diesel prices have cost Americans an additional $100 billion since the Iran war began, according to a Brown University tracker.
Canada's retaliatory tariffs on $20 billion in U.S. goods take effect
Canada's steep retaliatory tariffs on $20 billion in U.S. goods took effect just after midnight ET on Tuesday, deepening the trade war between the two countries.
Politics
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Stefany Shaheen, Anthony DiLorenzo win New Hampshire primaries, CBS News projects
Stefany Shaheen and Anthony DiLorenzo Won their respective primaries to replace Democratic Rep. Chris Pappas in New Hampshire's 1st Congressional District, CBS News projects.
Trump administration to ban some Canadian motorcycles, dairy, alcohol
The Trump administration moved Tuesday to ban imports of Canadian motorcycles, some dairy products and most types of alcohol starting later this month, intensifying the trade war between the two countries.
New Hampshire Senate race set between Pappas and Sununu after projected primary wins
Rep. Chris Pappas defeated democratic socialist Karishma Manzur in the Democratic primary, while former Sen. John Sununu defeated Scott Brown in the GOP contest.
Michigan Jewish leaders call on El-Sayed to change posture on Israel
A coalition of Michigan Jewish leaders launched a petition calling on Abdul El-Sayed and other political candidates to make baseline commitments on Jewish safety and Israel, or risk losing their support.
Federal judge backs Missouri's new House map after Supreme Court rebuffs case
A federal judge ruled that Missouri should use a new congressional map that favors Republicans for now, hours after the U.S. Supreme Court left in place a ruling from the state's highest court directing Missouri to use an older map.
HealthWatch
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NYC officials release unseen post-9/11 air quality documents
New York City officials released thousands of previously unseen documents questioning the air quality at Ground Zero following the 9/11 attacks.
What is postpartum psychosis?
Experts discuss the symptoms, diagnosis and stigma surrounding postpartum psychosis (not to be confused with postpartum depression), a psychiatric emergency with symptoms that can be extreme and dangerous, as testified in the trial of Lindsay Clancy.
What is postpartum psychosis?
Postpartum psychosis (not to be confused with postpartum depression) is a psychiatric emergency with symptoms that can be extreme and dangerous, as testified in the trial of Lindsay Clancy. Correspondent Faith Salie talks with experts about the symptoms, diagnosis and stigma surrounding postpartum psychosis; and with a mother whose experience of hallucinations and distorted reality soon after giving birth threatened her and her family.
A woman was in pain for decades. A chance meeting helped her learn why.
Dawn Jemison started dealing with pelvic pain as a preteen. It took decades to learn why — and to find a solution.
Employer and worker health plan costs expected to jump in 2027
Employer health benefit costs are projected to see the steepest increase next year since 2003. That could mean higher deductions and out-of-pocket costs for workers.
World
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Live
U.S. forces destroy 5 Iranian oil tankers, triggering retaliation from Tehran
Tit-for-tat strikes resumed, with Iran targeting an American base in Jordan in retaliation for the destruction of 5 oil tankers.
London police use tech to tackle masked phone snatchers
Police say fewer people in London are getting their phones stolen by criminals speeding by on bikes and mopeds thanks to a dedicated task force with an "eye in the sky."
U.S. envoy warns U.K. against new plan to sanction Israeli settlements
Britain and 11 other U.S. allies say they'll sanction trade with Israeli settlements in the West Bank, citing an "unprecedented level of settler violence."
Ukrainian woman designing a ballistic missile to put Moscow in reach
Before Russia invaded, Iryna Terekh designed patios. Now she runs a Ukrainian defense company testing a missile she says will soon put Moscow in range.
Lithuania training civilians to defend against a Russian invasion
Lithuania is teaching civilians young and old to help defend their tiny nation from a hypothetical Russian invasion, and telling Putin, "We don't fear you."
Entertainment
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Entertainment
Details on new Elizabeth Holmes doc
Nathan Fielder and Lance Oppenheim's new documentary about Elizabeth Holmes is "probably the wildest documentary I've ever seen," according to Rebecca Ford, Vanity Fair's senior Hollywood correspondent, who was there for the documentary's secret premiere. Ford joined CBS News with more details.
John Legend announces new album
John Legend announced a new album, "Muse," set to be released in late October. Legend sat down with Nate Burleson to discuss the album's new sound and his collaboration with Pharrell.
Secret Elizabeth Holmes documentary makes debut
Theranos founder Elizabeth Holmes, already serving an 11-year sentence for defrauding investors, is now also the star of a new documentary co-created by an absurdist comedian. CBS News' Lilia Luciano has the story.
King Charles: Harry, Meghan won't work as royals
Prince Harry and Megan Markle have returned to the U.K., but not to any official royal duties. But just in case there is any hint of confusion, King Charles released a letter of clarification on Monday. CBS News' Holly Williams has details.
Fall television season set to begin
Labor Day weekend not only marks the traditional end of summer, but the start of the fall television season. The Hollywood Reporter senior editor Alex Weprin joins CBS News to discuss.
Technology
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Apple event expected to debut foldable iPhone and new CEO John Ternus
Apple's Sept. 9 tech showcase is set to feature new CEO John Ternus unveiling its first foldable iPhone and the iPhone 18.
Data center development turns some landowners into millionaires
Most Americans say they're opposed to data centers. But a lucky few have gotten rich selling their land to data center developers.
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.
OpenAI hypes GPT-6 Astra
OpenAI announced GPT-6 Astra as its most powerful model yet, with some saying that the era of artificial general intelligence is here. Meanwhile, concerns about cybersecurity and tech regulation are rising. Axios tech policy reporter Maria Curi joins CBS News with more.
The positive side of data centers
While data centers bother many, some lucky landowners have become millionaires by selling property to developers. Kelly O'Grady reports.
Science
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Ig Nobel prizes go to scientists studying cockroach milk, nose-blowing, more
Ten research teams were honored at a satirical science awards ceremony that was hosted outside the U.S. for the first time due to travel concerns. A study of cockroach milk was among the winners.
Vote on the fattest marmot now
Marmots, not bears, are the largest "true" hibernating mammal, UCLA marmot researchers Katie Adler and Emily Renkey say. The two share more fun facts about these cute creatures and explain how to vote for the fattest marmot.
NASA plans to launch new space telescope
NASA's new telescope could change the way we see space. With a wide-field camera that will reveal an area up to 200 times larger than the Hubble Space Telescope, and an orbit a million miles from Earth, the Nancy Grace Roman telescope is expected to find tens of thousands of unknown exoplanets.
Invasive Joro spiders are "slowly spreading." Here's what to do if you see one.
The Great Smoky Mountains National Park told visitors Tuesday that invasive Joro spiders "may be hanging in a web near you."
A summer of extremes: Weathering a hotter world
July was the hottest month ever in the Lower 48 States – another escalation of our world into a hotter, more dangerous planet, where extreme weather events – such as heat waves, wildfires and hurricanes – will become more common and more extreme.
Crime
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Crime
Lindsay Clancy's lawyer asks Trump for pardon
Lindsay Clancy's lawyer spoke with CBS News Boston on Tuesday, explaining why he'd asked President Trump to somehow pardon her, as she is still under state indictment for killing her three children. Shanelle Kaul reports.
Thieves on the run after Renoir paintings stolen in France
Four Renoir paintings worth an estimated $10.5 million were stolen from a French museum, though they abandoned two of the paintings as they fled. Two suspected thieves are still on the run.
Patrick Clancy calls out conspiracy theories
Lindsay Clancy's ex-husband, Patrick Clancy, blasted claims on Tuesday that he is behind the killings of his three children. CBS News Boston reporter Cristina Rex has more.
U.S. Marshals find 79 missing children
The U.S. Marshals Service announced that it found 79 missing and endangered children across Ohio in August. The Marshals Service worked with federal, state and local partners to find the children during Operation Meridian. CBS News' Anna Schecter has more.
Judge orders bond increase for Barry Morphew after arrest
A Colorado judge ordered an increase in bond for murder suspect Barry Morphew on Tuesday from $3 million to $10 million cash only.
Space
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NASA launches its Roman Space Telescope to explore the hidden universe
NASA's Roman Space Telescope launched shortly after daybreak from Kennedy Space Center and blazed toward an observation point 1 million miles away.
Roman Space Telescope promises 300-megapixel views of the cosmos
The $4.3 billion telescope is expected to discover tens of thousands of exoplanets while probing the nature of mysterious dark matter and energy.
First on CBS
Trump to honor Artemis II crew with nation's top space medal
President Trump plans to award the Congressional Space Medal of Honor to the crew of NASA's Artemis II mission in a ceremony Aug. 28.
NASA's Swift telescope will plunge toward Earth after rescue mission called off
The mission to save NASA's sinking space telescope has been called off, dooming the telescope to a fiery reentry later this year.
NASA images show 60-foot-wide crater on moon after SpaceX rocket booster crash
A NASA spacecraft circling the moon is providing the sharpest views yet of the crater carved by a crashing SpaceX rocket.
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.
Dolly Parton: An extraordinary life in pictures
Dolly Parton, the country music legend who became a feminist icon, has died at the age of 80. Here is a look back at her life in pictures.
Investigating the death of designer Sylvie Cachay
Sylvie Cachay was found dead in an overflowing bathtub at the exclusive Soho House in New York City on Dec. 9, 2010. A water leak at the hotel gave away a timeline that may have revealed her killer.
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.
Latest CBS News Videos
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Hurricane Lowell lashes Hawaiian islands
Hurricane Lowell lashed the Hawaiian islands with up to 2 feet of rain in some parts, 90-mph winds and monster waves. Carter Evans reports and Rob Marciano hs the forecast.
Lindsay Clancy's lawyer asks Trump for pardon
Lindsay Clancy's lawyer spoke with CBS News Boston on Tuesday, explaining why he'd asked President Trump to somehow pardon her, as she is still under state indictment for killing her three children. Shanelle Kaul reports.
Barack Obama on the bin Laden operation
In 2011, then-President Barack Obama sat down with 60 Minutes for his first interview after the killing of Osama bin Laden. He described what went through his mind as he watched the operation unfold.
SCOTUS rebuffs Missouri request for new House map
The Supreme Court on Tuesday denied an emergency application to block a Missouri Supreme Court ruling barring the state from using its new congressional map, which favors Republicans. CBS News White House reporter Aaron Navarro has more.
Hurricane Marie damages several SoCal homes
Hurricane Marie damaged several homes across Southern California. CBS News Los Angeles' Jeff Nguyen is in Malibu with a look at the aftermath.