Fed lowers interest rates by 0.25 percentage points in first cut since 2024
The Federal Reserve is cutting its benchmark interest rate as the U.S. economy faces headwinds, including a faltering labor market.
Interest Rates
Fed cuts rates for first time in 9 months
The Federal Reserve announced it's lowering its benchmark interest rate by 0.25 percentage points. It's the first rate cut since December. CBS News' Kelly O'Grady
Fed cuts interest rates 0.25 percentage points
The Federal Reserve announced that it lowered interest rates by 0.25 percentage points, its first rate cut since December 2024. CBS News MoneyWatch correspondent Kelly O'Grady and White House correspondent Ed O'Keefe have more.
Will the Fed cut rates today? These charts may determine its decision.
With the U.S. economy facing headwinds, the Federal Reserve faces pressure to trim interest rates this week for the first time since December 2024.
Reporter's Notebook: Behind the Fed's jargon
The Federal Reserve is expected to lower interest rates, and decisions that shape household budgets will be explained in woolly-mouthed Fed speak. "CBS Evening News" co-anchor John Dickerson explains.
Why the Fed is expected to cut rates
The Federal Reserve's upcoming rate decision is shaping up to be its most consequential of the year, with most economists predicting the first cut of 2025. Kelly O'Grady has more.
Why signs are pointing to a Fed rate cut
A Federal Reserve decision on U.S. interest rates is set to come on Wednesday afternoon. Officials are largely expected to lower rates for the first time in 2025. CBS News MoneyWatch correspondent Kelly O'Grady explains why.
Ex-CBO director on Trump's 2nd term economy
President Trump's position on interest rates and the overall economy is under intense scrutiny. Former Congressional Budget Office Director Douglas Holtz-Eakin, one of the U.S.' foremost conservative economists, says in his first term, Mr. Trump did some "astounding" things for the economy. Holtz-Eakin joins "The Takeout" to discuss why his views on the president's second-term economic policies have turned negative.
Inflation fuels falling consumer sentiment
New data shows Americans are feeling increasingly concerned about the state of the economy. A survey reveals that consumer sentiment fell in September for the second consecutive month. CBS News senior business and technology correspondent Jo Ling Kent has more.
Trump admin. asks appeals court to allow firing of Lisa Cook before Fed meeting
The Trump administration wants an appeals court to lift a ruling that blocked President Trump from firing Federal Reserve Governor Lisa Cook before an interest rate meeting next week.
What do major job revisions say about economy?
The U.S. labor market added 911,000 fewer jobs in the past year than earlier reported, the Bureau of Labor Statistics announced on Tuesday. CBS News MoneyWatch correspondent Kelly O'Grady has the details. Then, Douglas Holtz-Eakin, former chief economic adviser for the George W. Bush administration and former director of the Congressional Budget Office, joins with analysis.
Top Trump adviser urges for Fed reform
White House National Economic Council director Kevin Hassett told "Face the Nation with Margaret Brennan" that he believes the Federal Reserve "needs to be fully independent of political influence" as President Trump continues to pressure Fed Chair Jerome Powell to lower interest rates. CBS News business contributor Javier David has the latest.
Economists' top 3 takeaways from the dismal August jobs report
Employers added far fewer jobs last month than economists had predicted, prompting some experts to reassess the economy.
A possible upside to August's slowing job growth
Employers across the U.S. added 22,000 jobs in August, falling short of economists' muted expectations and signaling the labor market is facing sharp headwinds from mounting economic uncertainty amid the Trump administration's wide-ranging tariffs. Jo Ling Kent has the biggest takeaways.
Dow Jones dips after new July inflation data
The Dow Jones fell on Friday after new data showed inflation remained mostly steady in July, but with some prices edging up. CBS News senior business and technology correspondent Jo Ling Kent has the details.
Markets remain steady amid Trump's Fed clash
President Trump said he fired Federal Reserve Gov. Lisa Cook on social media, but Cook said she is not resigning. Despite Mr. Trump's announcement, stock markets appear unaffected by the news. CBS News' Ed O'Keefe and business journalist Kristin Myers have more details.
Lisa Cook to Trump: "I will not resign"
An epic legal fight is brewing between President Trump and the Federal Reserve after he moved to fire board governor Lisa Cook. CBS News White House reporter Aaron Navarro has the latest. Then, Abha Bhattarai, economics correspondent for The Washington Post, and Tom Dupree, former deputy assistant attorney general, join with analysis.
New Federal Reserve statement on Trump, Cook
The Federal Reserve on Tuesday issued a new statement regarding President Trump's move to fire Fed Governor Lisa Cook. CBS News MoneyWatch correspondent Kelly O'Grady has the latest.
Stocks fall flat after after weekend rally
Federal Reserve Chair Jerome Powell signaled on Friday that interest rates would be lowered at some point soon, rallying stock markets. On Monday, markets fell flat. CBS News MoneyWatch correspondent Kelly O'Grady breaks it down.
Stocks skyrocket after Powell speech
Federal Reserve Chair Jerome Powell gave a speech that sent all three stock indexes soaring. Traders excavated clues of an interest rate coming. Archie Hall, U.S. economics editor for The Economist, joins "The Takeout" to discuss.
Powell signals potential interest rate cuts
Federal Reserve Chair Jerome Powell signalled a potential path to interest rate cuts in the future. Akin Oyedele, a deputy editor of newsletters at Business Insider, joins CBS News with more.
Fed Chair Jerome Powell signals path to rate cuts at Jackson Hole
Federal Reserve Chair Jerome Powell has been under pressure from President Trump to lower the central bank's benchmark interest rate.
Fed Chair Powell faces delicate balancing act in Jackson Hole speech
Jerome Powell will address the state of the U.S. economy — and perhaps offer hints about interest rates — in a closely watched speech on Friday.
Powell addressing Jackson Hole forum
Federal Reserve Chair Jerome Powell is preparing to address the annual Jackson Hole, Wyoming, economic forum as the Trump administration pushes for an interest rate cut in September. Bill Watts, a markets editor for MarketWatch, joins CBS News with more.
Key takeaways from July's inflation report
Inflation in July rose 2.7% on an annual basis, which was slightly less than economists had forecast, according to a report released Tuesday. CBS News senior business and technology correspondent Jo Ling Kent breaks down the numbers.
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.
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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"
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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,
Several killed in small plane crash in the Bahamas, officials say
A small plane crashed in the Bahamas on Friday, killing several people and prompting the government to temporarily ground Flamingo Air flights.
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Detainees say ICE officer shot Houston driver through passenger window, lawyer says
Three men who witnessed a fatal shooting involving federal immigration officers in Houston say no officer was threatened, a lawyer who has spoken with them said.
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.
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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.
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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.
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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
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What to know about "explosive" diarrhea-causing parasite reported in several states
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What to know about infant botulism
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Nara Organics infant formula linked to another case of botulism
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Several killed in small plane crash in the Bahamas, officials say
A small plane crashed in the Bahamas on Friday, killing several people and prompting the government to temporarily ground Flamingo Air flights.
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.
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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
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Director of "Aces," breaks down docuseries
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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.
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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
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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
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Breaking down the Texas app store age law
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Watch: Pentagon releases 19 new UFO videos
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2,000-year-old gold rings and human bones found by archaeologists
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New White House UFO panel chair speaks out
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Takeaways from weeklong Tyler Robinson hearing
The weeklong pre-trial hearing for the man accused of killing conservative activist Charlie Kirk wrapped up on Friday with the defense calling one final witness to the stand. CBS News legal contributor Jessica Levinson joins with analysis.
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.
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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
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NASA prepares to launch rescue to save telescope from falling to Earth
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Astronomers find 2 gigantic planets lighter than cotton candy
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7/10: The Takeout with Major Garrett
President Trump says U.S. continuing Iran talks, but ceasefire is "over"; Graham Platner officially withdraws from Maine Senate race.
ICE officers kill man in Houston
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Missouri faces powerful flooding
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Hegseth looks to tighten military standards
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Cyclosporiasis parasite cases skyrocket
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