Yellen rules out bailout for SVB
Treasury Secretary Janet Yellen called the Silicon Valley Bank failure a "concern," but she emphasized that there would not be a bailout. "We're not going to do that again," she told "Face the Nation."
Janet Yellen
Yellen rules out bailout for SVB: "We're not going to do that again"
The collapse of Silicon Valley Bank is the largest of a financial institution since the failure of Washington Mutual in 2008.
Open: This is "Face the Nation with Margaret Brennan," March 12
This week on "Face the Nation with Margaret Brennan," an exclusive interview with Treasury Secretary Janet Yellen, plus Democratic Rep. Ro Khanna and House Foreign Affairs committee chair Republican Rep. Michael McCaul.
Yellen calls Republican plan to prioritize payments "default by another name"
The Treasury Department has been using so-called extraordinary measures to keep paying the bills since the government hit the debt limit in January.
Russian forces intensify Bakhmut offensive
Russian forces are intensifying their offensive in eastern Ukraine as they attempt to encircle the mining city of Bakhmut. Ukraine's military says the situation on the ground is "extremely tense." CBS News foreign correspondent Imtiaz Tyab joined Anne-Marie Green on "CBS News Mornings" with the latest from Ukraine.
Biden to announce more sanctions on Russia
President Biden is expected to announce new sanctions on Russia, and administration officials are warning any countries that help Russia evade those economic sanctions will face consequences as well. Deputy Treasury Secretary Wally Adeyemo joins CBS News to explain the administration's plans, and why he's confident the sanctions are successful despite some saying there hasn't been the impact they had hoped.
Yellen describes "catastrophe" that will result if debt limit isn't raised
The treasury secretary warned household payments on mortgages and auto loans would go up, and other payments to military families and seniors would not be made.
Yellen: Defaulting on debt would be "catastrophe"
Treasury Secretary Janet Yellen told Axios a default would cause a financial crisis while President Biden and speaker of the house Rep. Kevin McCarthy are set to discuss raising the debt ceiling on Wednesday. CBS News reporter Sarah Ewall-Wice has more on where Republicans and Democrats stand.
Can the U.S. catch up to China and Russia's African outreach?
After decades of investment and blossoming ties with Beijing and Moscow, experts say "short-term courtship" of African nations simply won't suffice.
Protecting your money amid debt ceiling concerns
The United States hit its debt ceiling today as federal officials maneuver to avoid the country defaulting on its debts. Carol Schleif, chief investment officer of BMO Family Office, joined CBS News to discuss precautions Americans should take to protect their money.
Treasury takes action as U.S. hits debt ceiling
The U.S. officially reached the debt limit on Thursday, and the Treasury Department says it has begun taking "extraordinary measures" to maintain the full faith and credit of the United States. It sets up a showdown that could put the entire U.S. economy at risk. Scott MacFarlane has more.
Treasury enacts "extraordinary measures"
The Treasury Department announced Thursday the U.S. has hit its debt ceiling. It means the country has reached its borrowing limit and is in danger of possibly defaulting as soon as June. Cristian deRitis, deputy chief economist at Moody's Analytics, joined CBS News to discuss.
Analyzing the impact of hitting the debt limit
The U.S. hit its $31.4 trillion debt ceiling Thursday, prompting the Treasury Department to enact "extraordinary measures" to delay a default. CBS News congressional correspondent Scott MacFarlane reports from Capitol Hill, and CBS News business analyst Jill Schlesinger discusses what this could mean for the U.S. economy.
Here's when the U.S. could crash through the debt ceiling
Hitting "Date X" without raising the debt ceiling could lead the U.S. to default on its debt for the first time in its history.
U.S. hits debt ceiling limit
The Treasury Department announced the U.S. has hit its debt ceiling. The announcement means the country has reached its borrowing limit and is in danger of defaulting as soon as June. CBS News congressional correspondent Scott MacFarlane has more.
Looming debt ceiling crisis
U.S. Treasury Secretary Janet Yellen said last week that the nation will reach the debt limit on Thursday, prompting a slew of warnings from Wall Street analysts. Scott MacFarlane reports.
Debt limit standoff between Biden, House GOP
The U.S. is projected to hit its debt limit Thursday, and Treasury Secretary Janet Yellen is urging congressional leaders to raise the debt ceiling to ensure the U.S. doesn't default on its debts. The White House and House Republicans are at a standoff, with GOP leaders demanding spending cuts. CBS News congressional correspondent Scott MacFarlane joined John Dickerson to discuss the latest on the issue.
U.S., China urged to bridge "tectonic rift"
U.S. Treasury Secretary Janet Yellen met with her Chinese counterpart on Wednesday in Switzerland. CBS News anchors Lana Zak and Errol Barnett spoke with Amy Celico, a principal with the foreign policy firm Albright Stonebridge Group, about the state of U.S.-Chinese relations.
What does the debt ceiling mean for you?
The U.S. is expected to hit the debt ceiling on Thursday and trigger some emergency measures to avoid the risk of default. CBS News' Anne-Marie Green takes a look at how this may impact your finances.
Yellen meets with Chinese economic officials
Treasury Secretary Janet Yellen met with top Chinese economic officials in Switzerland Wednesday for over two hours. CBS News reporter Sarah Ewall-Wice joined Vladimir Duthiers and Anne-Marie Green to discuss the talks and what it means for the global economy.
Questions for White House on Biden documents
CBS News senior White House correspondent Weijia Jiang and CBS News congressional correspondent Scott MacFarlane join "Red and Blue" with the latest on the response to classified documents found at President Biden's home and former office, as well as concerns about the economy as the U.S. is set to hit the federal debt limit.
U.S. to reach debt limit on Thursday
The U.S. is expected to hit its debt borrowing limit in a couple of days. CBS News political director Fin Gomez covers has more on that and how the 2024 Republican presidential primary is shaping up.
U.S. to hit debt limit Thursday
Treasury Secretary Janet Yellen says the U.S. will hit its debt limit of $31.4 trillion Thursday. CBS News congressional correspondent Scott MacFarlane joins the show to discuss what's being said on Capitol Hill about the looming debt ceiling crisis.
Congress faces looming federal deb limit
As the U.S. nears its debt limit, House Republicans are calling for negotiations and federal spending caps. CBS News congressional correspondent Scott MacFarlane joined "Red and Blue" to discuss lawmakers' economic options, as well as the latest on the investigations into New York Rep. George Santos.
U.S. expected to hit debt limit this week
Treasury Secretary Janet Yellen warned that the country is on track to reach the debt limit, or the cap on how much money the federal government can borrow. CBS News congressional correspondent Scott MacFarlane joined Anne-Marie Green and Vladimir Duthiers to discuss the potential debt crisis and how Congress might respond.
Live
Slow progress toward peace deal as Iran strikes ship in Strait of Hormuz
Hezbollah says Israel must withdraw forces from Lebanon and Iran strikes a ship in the Strait of Hormuz as negotiations toward a peace deal grind on.
Billionaire Leon Black expected to testify Friday before House Epstein panel
An investor who employed and was close to Jeffrey Epstein is scheduled to appear before members of Congress investigating the deceased sexual abuser.
Internal emails show how RFK Jr.'s team sought to sway CDC
A trove of emails offers a new look at how the Centers for Disease Control and Prevention navigated some of the most controversial decisions of President Trump's second term.
Race to find survivors after Venezuela's devastating twin earthquakes
The back-to-back earthquakes that hit Venezuela killed more than 230 people, and the toll is likely to keep rising as rescue and recovery operations ramp up.
Reflecting Pool liner was cut with knife or razor, parks official says
National Park Service official Frank Lands also said at least 70 fence post tops were thrown in to the Reflecting Pool.
U.S. team suffers first 2026 World Cup loss, heads to knockout round
The U.S. men's team had already clinched its spot in the Round of 32, the knockout round, with its 2-0 win over Australia on Friday.
How much water does AI really use?
The heaviest demand on America's water supply isn't data centers or AI. It's from everyday uses such as growing food, watering lawns and flushing toilets.
King Charles won't live in Buckingham Palace after $487 million renovation
The king and Queen Camilla have decided instead to continue living at nearby Clarence House, a smaller, stately home.
250 essential American songs to mark nation's birthday
What are the essential American songs? Ahead of the nation's 250th birthday, we asked that question to Sunday Morning's familiar faces, from performers to artists and writers to community leaders.
U.S.
More U.S.
Exonerated man's widow calls settlement in yogurt shop murders "blood money"
The city of Austin agreed to a multimillion-dollar settlement to be split among four men — including to the widow and daughter of Maurice Pierce — who were wrongfully accused of murdering four teenage girls in a Texas yogurt shop.
U.S. team suffers first 2026 World Cup loss, heads to knockout round
The U.S. men's team had already clinched its spot in the Round of 32, the knockout round, with its 2-0 win over Australia on Friday.
LA investigating construction at warehouse involved in massive fire
Los Angeles building inspectors have launched an investigation into alleged unpermitted construction at a warehouse that erupted in flames last week — its second fire in two years.
Mangione's attorneys discussed possible plea deal but talks fell apart, sources say
Mangione is facing both state and federal charges for UnitedHealthcare CEO Brian Thompson's murder in December 2024. He has pleaded not guilty in both cases.
Judge orders DOJ to either unredact more Epstein files or explain why it can't
A judge on Thursday ordered the Justice Department to either release unredacted versions of several files on the late sex offender Jeffrey Epstein or explain why it can't do so.
MoneyWatch
More MoneyWatch
Nude portrait by Amedeo Modigliani sets record at auction
The Modigliani painting "Nu assis au collier" (Seated Nude Wearing a Necklace) sold for $63.9 million, the highest price achieved for a work by the artist sold at auction in Europe, Sotheby's said.
Apple and Microsoft are raising their prices as chip costs soar
Apple is raising the prices of some MacBooks and iPads, while Microsoft is raising Xbox prices as semiconductor costs surge.
Big Tech is all in on AI. Now all they need is customers.
Technology companies are betting trillions of dollars that consumers will open their wallets for AI services. But what if Big Tech is wrong?
Supreme Court sides with Monsanto in case over cancer risks from weedkiller
The Supreme Court ruled that Monsanto cannot be held liable under state laws for failing to warn consumers about the alleged cancer risks of its weedkiller Roundup on its label.
Fed's preferred inflation gauge hits 3-year high
Inflation continued to rise in May, with the Personal Consumption Expenditures price index rising at an annual rate of 4.1%.
Politics
More Politics
Billionaire Leon Black expected to testify Friday before House Epstein panel
An investor who employed and was close to Jeffrey Epstein is scheduled to appear before members of Congress investigating the deceased sexual abuser.
Internal emails show how RFK Jr.'s team sought to sway the CDC
A trove of emails offers a new look at how the Centers for Disease Control and Prevention navigated some of the most controversial decisions of President Trump's second term.
Judge orders DOJ to either unredact more Epstein files or explain why it can't
A judge on Thursday ordered the Justice Department to either release unredacted versions of several files on the late sex offender Jeffrey Epstein or explain why it can't do so.
Hundreds of veterans snag free World Cup tickets
A program for veterans, current military and first responders secured almost 5,000 free tickets for World Cup matches.
Just 2 votes separate candidates in mayoral race: "Every vote matters"
Christine Erickson is two votes ahead of Jamie Smith, the Minnehaha County Auditors and Elections Office said.
HealthWatch
More HealthWatch
Internal emails show how RFK Jr.'s team sought to sway the CDC
A trove of emails offers a new look at how the Centers for Disease Control and Prevention navigated some of the most controversial decisions of President Trump's second term.
Chris Evert announces her ovarian cancer has returned
American tennis legend Chris Evert announced that her ovarian cancer had returned in a social media post Thursday.
Democrats to propose bill capping out-of-pocket Medicare costs for enrollees
Some Senate Democrats want to cap the amount beneficiaries in traditional Medicare have to pay toward care, but the move is expected to draw GOP opposition for potentially adding billions to Medicare costs.
Medicare's AI push snarls patients and doctors in errors and delays
Medicare is testing the use of artificial intelligence to preapprove several healthcare services.
Confirmed Ebola cases in Congo top 1,000, deaths surpass 250, officials say
Confirmed Ebola cases in the outbreak in eastern Congo have reached 1,003, including 254 deaths, officials said, and tracing those who've been in contact with patients remains a major challenge.
World
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Live
Slow progress toward peace deal as Iran strikes ship in Strait of Hormuz
Hezbollah says Israel must withdraw forces from Lebanon and Iran strikes a ship in the Strait of Hormuz as negotiations toward a peace deal grind on.
Nude portrait by Amedeo Modigliani sets record at auction
The Modigliani painting "Nu assis au collier" (Seated Nude Wearing a Necklace) sold for $63.9 million, the highest price achieved for a work by the artist sold at auction in Europe, Sotheby's said.
Iranian national U.S. sought for $3.4 billion in hacking attacks arrested
An Iranian national who is wanted by the U.S. for mass hacking attacks that caused $3.4 billion in damage was arrested in Montenegro, police there say.
Race to find survivors after Venezuela's devastating twin earthquakes
The back-to-back earthquakes that hit Venezuela killed more than 230 people, and the toll is likely to keep rising as rescue and recovery operations ramp up.
King Charles will not live in Buckingham Palace after $487 million renovation
The king and Queen Camilla have decided instead to continue living at nearby Clarence House, a smaller, stately home.
Entertainment
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Entertainment
William Holden, Joseph Cotten mark bicentennial
In the lead-up to America's bicentennial in 1976, CBS aired brief segments featuring well-known figures of the time describing moments from early U.S. history. CBS News chief Washington correspondent Major Garrett introduces clips featuring legendary actors William Holden and Joseph Cotten.
New NYT reporting on Taylor Swift's wedding
The New York Times is reporting that Taylor Swift and Travis Kelce might tie the knot at Madison Square Garden. She has reportedly booked out the arena for the Fourth of July weekend, the rumored wedding date.
Taylor Swift wedding venue speculation fueled by MSG permit
There appear to be new clues about the location of Taylor Swift and Travis Kelce's wedding.
Essential American songs of last 250 years
For the United States' 250th birthday, Sunday Morning asked dozens of notable Americans, from Jason Alexander and Ken Burns to Misty Copeland, what they considered to be our country's essential songs. This is the Essential American Songbook: 90 contributors and 250 songs. Here's a sample.
250 essential American songs to mark nation's birthday
What are the essential American songs? Ahead of the nation's 250th birthday, we asked that question to Sunday Morning's familiar faces, from performers to artists and writers to community leaders.
Technology
More Technology
How much water does AI really use?
The heaviest demand on America's water supply isn't data centers or AI. It's from everyday uses such as growing food, watering lawns and flushing toilets.
Big Tech is all in on AI. Now all they need is customers.
Technology companies are betting trillions of dollars that consumers will open their wallets for AI services. But what if Big Tech is wrong?
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.
IBM unveils tech for higher-performance chips that use much less power
IBM has raised the curtain on semiconductor technology it says could deliver computer chips with 50 percent better performance while dramatically lowering power consumption.
U.S. aims to break AI reliance on China
The U.S. is trying to break the West's reliance on Chinese artificial intelligence supply chains with an international accord called Pax Silica. Its goal is to shore up supplies of essential components used in high-end computer chips, which power advanced AI models. CBS News coordinating producer Richard Escobedo has more.
Science
More Science
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.
Ancient Egyptian burial site reveals centuries of changing traditions
Human and animal remains unearthed in Egypt's Nile Delta reveal changing funerary practices over some 600 years, and the evolution of a key site itself.
Telescope snaps most detailed photo yet of Milky Way's heart
Euclid is on a mission to chart one-third of the sky in the hopes of shedding light on the enduring mysteries of dark matter and dark energy.
Interstellar comet may be oldest object ever seen in solar system
Exactly where the comet 3I/ATLAS came from within the Milky Way remains a mystery.
6/21: Sunday Morning
Hosted by Lee Cowan. Featured: Birthright citizenship; the Theodore Roosevelt Presidential Library unveiled; Shooter Jennings releases recordings by his father, Waylon Jennings; comedian John Mulaney; childhood obesity; and the secrets of seahorses and seadragons.
Crime
More Crime
Exonerated man's widow calls settlement in yogurt shop murders "blood money"
The city of Austin agreed to a multimillion-dollar settlement to be split among four men — including to the widow and daughter of Maurice Pierce — who were wrongfully accused of murdering four teenage girls in a Texas yogurt shop.
Iranian national U.S. sought for $3.4 billion in hacking attacks arrested
An Iranian national who is wanted by the U.S. for mass hacking attacks that caused $3.4 billion in damage was arrested in Montenegro, police there say.
Lions player arrested on kidnapping charges
Terrion Arnold, a 23-year-old defensive player for the Detroit Lions and a former first-round pick and all-American at the University of Alabama, has been arrested on charges of armed robbery and kidnapping. He is denying it all. Tom Hanson reports.
Report of possible plea deal in Mangione case
Attorneys for Luigi Mangione are accusing prosecutors of trying to manipulate public opinion against him, and calling a report of a possible plea deal "troubling." CBS News' Anna Schecter has the latest.
Mangione's attorneys discussed possible plea deal but talks fell apart, sources say
Mangione is facing both state and federal charges for UnitedHealthcare CEO Brian Thompson's murder in December 2024. He has pleaded not guilty in both cases.
Space
More Space
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.
Telescope snaps most detailed photo yet of Milky Way's heart
Euclid is on a mission to chart one-third of the sky in the hopes of shedding light on the enduring mysteries of dark matter and dark energy.
Interstellar comet may be oldest object ever seen in solar system
Exactly where the comet 3I/ATLAS came from within the Milky Way remains a mystery.
Researchers find "Pink Planet" has salty clouds: "We were very surprised"
The "Pink Planet," formally known as GJ504b, was discovered in 2013 and is technically not a planet but rather a "planetary-mass companion."
NASA chief defends choice of all-male crew for Artemis III mission
NASA's Jared Isaacman says the crew was selected solely based on their experience, expertise and availability for flight assignment.
Latest Galleries
More Latest Galleries
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.
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.
Timeline: The disappearance of George Smith
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Who is Alix Tichelman?
Meet the tattooed beauty charged in the death of Google executive Forrest Hayes.
Latest CBS News Videos
More Latest CBS News Videos
Latest CBS News Videos
Europeans seek relief from extreme heat
Brutal temperatures are straining hospitals and other services amid a deadly heat wave continuing to sweep across western Europe. In France, drowning deaths have increased to 55 as people seek relief from the heat. Chris Livesay reports.
Mangione lawyers discussed possible plea deal
Luigi Mangione's attorneys and federal prosecutors were discussing a possible plea deal in his federal case, but talks fell apart. Mangione is accused of fatally shooting UnitedHealthcare CEO Brian Thompson in 2024 and has pleaded not guilty.
Inside Lebanon as fighting continues
Violence has continued in Lebanon despite the U.S.-Iran agreement. Holly Williams went to Lebanon to see the destruction firsthand and spoke to those caught in the crossfire.
Potential setback to Iran peace deal
Iran has attacked a container ship in the Strait of Hormuz, impacting oil prices and potentially threatening efforts to fully reopen the strait. Ed O'Keefe reports.
Venezuela earthquake recovery continues
The death toll is still climbing after two 7.2- and 7.5-magnitude earthquakes struck Venezuela on Wednesday, destroying buildings and other infrastructure. CBS News' Jarred Hill reports, and Project HOPE president Chris Skopec discusses international aid efforts.