Kevin Warsh is now leading the Fed. His main challenge is a doozy.
Warsh is taking over as Fed chair as the U.S. faces the hottest inflation in years, impeding the interest rate cuts that President Trump has demanded.
Jerome Powell
Expert: Warsh has "difficult job in front of him"
President Trump on Friday hosted a swearing-in ceremony for the new Federal Reserve Chair, Kevin Warsh. Jon Hilsenrath, visiting scholar at Duke University, joins with analysis on what Warsh will face in the coming months.
Kevin Warsh sworn in as new Fed chair
Kevin Warsh was sworn in as the new Federal Reserve chair on Friday, replacing Jerome Powell. During the ceremony, President Trump insisted Warsh will remain independent as he navigates inflation and other U.S. economic concerns. CBS News' Ed O'Keefe and Emily Pandise report.
Analyzing Jerome Powell's legacy
Friday marked Jerome Powell's last day as Chairman of the Federal Reserve. CBS News producer Emily Pandise takes a look at his legacy.
How will Jerome Powell be remembered as he exits as Fed chair?
As Powell steps down after more than eight years leading the Federal Reserve, economists say he helped steer the U.S. through historic shocks but misread inflation.
Powell's legacy as Federal Reserve chair
Federal Reserve Chair Jerome Powell's last day comes after a tense tenure through a pandemic, economic turmoil and a rocky relationship with President Trump. CBS News' Emily Pandise reports.
Powell's tenure ends as Federal Reserve chair
Kevin Warsh is expected to take over as chair of the Federal Reserve as Jerome Powell concludes his tenure. Kristin Myers, the senior vice president of content and editor in chief of ETF.com, joins CBS News with more.
Senate confirms Kevin Warsh as next Fed chair
Kevin Warsh was confirmed by the Senate on Wednesday as the next Federal Reserve chair. Warsh will succeed Jerome Powell, whose term ends Friday. CBS News' Caitlin Huey-Burns has more.
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.
Senate Banking Committee advances Kevin Warsh's nomination for Fed chair
Senators voted along partisan lines, with Republicans backing Warsh's nomination to lead the Fed and Democrats on the panel opposing him.
Powell staying on Fed board after term ends
Jerome Powell held his last news conference as Federal Reserve chair on Wednesday, announcing his intention to stay on the central bank's board as a governor "for a period of time to be determined" following the end of his term.
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.
Will the Fed cut rates? Here's what to expect at Wednesday's meeting.
The Federal Reserve is contending with rising inflation amid the war and a lackluster job market, along with the departure of Fed Chair Jerome Powell.
Tillis says he's ready to move forward with Warsh's nomination for Fed chair
U.S. Attorney Jeanine Pirro said Friday her office is dropping its criminal investigation into Fed Chairman Jerome Powell and the $2.5 billion renovation of the central bank's headquarters.
Why is the DOJ dropping its Powell probe?
The Justice Department has dropped its criminal probe into Federal Reserve Chair Jerome Powell. The investigation was connected to the estimated $2.5 billion price tag for renovations on the Federal Reserve's headquarters in Washington, D.C. CBS News' Katrina Kaufman reports.
End of DOJ Powell probe could clear way for Warsh
The Justice Department has dropped its criminal investigation into outgoing Federal Reserve Chair Jerome Powell over the central bank's renovation. The move clears a key hurdle for President Trump's pick to replace Powell, Kevin Warsh. CBS News congressional correspondent Nikole Killion reports.
4/24: The Takeout with Major Garrett
Second round of U.S.-Iran peace talks expected this weekend; U.S. soldier charged for allegedly using confidential info to bet on Maduro's removal.
White House DOJ dropping Jerome Powell probe
The Justice Department announced Friday that it would be dropping an investigation into Federal Reserve Chair Jerome Powell. CBS News' Kelly O'Grady reports.
Justice Department drops Jerome Powell probe
U.S. Attorney Jeanine Pirro announced Friday that the Justice Department is dropping the investigation into Federal Reserve Chairman Jerome Powell.
Tillis: "Hard to tell" where U.S. is in Iran war
Wednesday marks 53 days since the U.S. launched the war with Iran. Republican Sen. Thom Tillis of North Carolina joins "The Takeout" to discuss the state of the conflict and 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.
Kevin Warsh testifies that the Fed will remain "strictly independent"
Warsh, nominated by President Trump to replace Fed Chair Jerome Powell, also said he'll work with the White House on some matters.
Early takeaways from Kevin Warsh hearing
Kevin Warsh, President Trump's nomination for chair of the Federal Reserve, told senators Tuesday that the central bank would remain "strictly independent." CBS News' Taurean Small reports on the hearing.
Senators question Kevin Warsh on transparency
President Trump's nominee for the next Federal Reserve chair, Kevin Warsh, faces questions from lawmakers Tuesday during his Senate confirmation hearing. CBS News' Kelly O'Grady has the latest.
Live
Iran keeps targeting American bases as U.S. interceptor stockpiles dwindle
Explosions were heard near a U.S. base in Iraq, and Iran said it targeted Bahrain, Jordan and Kuwait as the 21-week war intensifies.
Pentagon website "anomalies" that removed names of 4 killed in Iran war remain
The Pentagon website, which was last updated on July 22, still showed only 14 killed in the conflict as of Friday.
Cyclospora outbreak linked to iceberg lettuce expands to 4 more states
The cyclosporiasis outbreak, the nation's largest, is currently affecting nine states.
Canada's Doug Ford on why country needs to "fight back" against Trump trade war
"We didn't start this war," Ontario Premier Doug Ford told CBS News on "The Takeout."
Exclusive
Sen. Peters wants to know why ICE bought spyware that can take control of phones
U.S. Immigration and Customs Enforcement has purchased commercial spyware that can covertly take control of phones, collect messages, photos and location information.
Trump expected to attend White House Correspondents' Dinner redo after attack
President Trump is expected to attend the redo of the White House Correspondents' Dinner on Friday night after an armed assailant upended April's dinner.
Tony Romo arrested in Wisconsin on suspicion of driving while intoxicated
The Milwaukee County Sheriff's Office said Romo was pulled over around 6 p.m. on Thursday.
South Carolina on cusp of being first 2028 Democratic presidential primary state
The DNC Rules and Bylaws Committee voted Friday to recommend that South Carolina should hold the nation's first 2028 presidential nominating contest.
LeBron James heading to Philly in deal with 76ers
The Sixers' wild offseason continued Friday when they added four-time NBA champion LeBron James.
U.S.
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Canada's Doug Ford on why country needs to "fight back" against Trump trade war
"We didn't start this war," Ontario Premier Doug Ford told CBS News on "The Takeout."
Tony Romo arrested in Wisconsin on suspicion of driving while intoxicated
The Milwaukee County Sheriff's Office said Romo was pulled over around 6 p.m. on Thursday.
Trump says U.S. to investigate EU trade practices over tech company fines
President Trump accused the European Union of "robbing" American companies and taxpayers.
South Carolina on cusp of being first 2028 Democratic presidential primary state
The DNC Rules and Bylaws Committee voted Friday to recommend that South Carolina should hold the nation's first 2028 presidential nominating contest.
Here is how cyclospora outbreak is affecting businesses
Visits to fast casual restaurants with lettuce-heavy menus are seeing declining foot traffic in the wake of the cyclosporiasis outbreak.
MoneyWatch
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Trump says U.S. to investigate EU trade practices over tech company fines
President Trump accused the European Union of "robbing" American companies and taxpayers.
Here is how cyclospora outbreak is affecting businesses
Visits to fast casual restaurants with lettuce-heavy menus are seeing declining foot traffic in the wake of the cyclosporiasis outbreak.
Ford recalls more than half a million Bronco vehicles over engine fire risk
A short circuit in the engine compartment can potentially cause a fire. Here's the fix.
Here are the new tariff rates on dozens of countries targeted by Trump
President Trump announced new tariffs of up to 12.5% to replace expiring Section 122 levies. Here are the rates for each country.
The Federal Reserve meets next week. Could it raise interest rates?
The central bank is widely expected to stand pat on Wednesday, but persistent inflation concerns are reshaping expectations for the rest of 2026.
Politics
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Canada's Doug Ford on why country needs to "fight back" against Trump trade war
"We didn't start this war," Ontario Premier Doug Ford told CBS News on "The Takeout."
Trump says U.S. to investigate EU trade practices over tech company fines
President Trump accused the European Union of "robbing" American companies and taxpayers.
South Carolina on cusp of being first 2028 Democratic presidential primary state
The DNC Rules and Bylaws Committee voted Friday to recommend that South Carolina should hold the nation's first 2028 presidential nominating contest.
Trump expected to attend White House Correspondents' Dinner redo after April attack
President Trump is expected to attend the redo of the White House Correspondents' Dinner on Friday night after an armed assailant upended April's dinner.
Pentagon website "anomalies" that removed names of 4 killed in Iran war remain
The Pentagon website, which was last updated on July 22, still showed only 14 killed in the conflict as of Friday.
HealthWatch
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Here is how cyclospora outbreak is affecting businesses
Visits to fast casual restaurants with lettuce-heavy menus are seeing declining foot traffic in the wake of the cyclosporiasis outbreak.
"The child is terrified": Doctors on front lines of measles comeback speak out
Confirmed measles cases in the U.S. just hit a 35-year high, and it's only July.
Cyclospora outbreak linked to iceberg lettuce expands to 4 more states
The cyclosporiasis outbreak, the nation's largest, is currently affecting nine states.
FDA investigating new cyclospora outbreak
U.S. health officials said they are investigating an additional outbreak of cyclospora, but do not know its source. Plus, Taylor Farms has reportedly shut down the plant where lettuce is suspected to have started the initial outbreak that has sickened thousands in at least 41 states. Carter Evans reports.
Measles outbreak "slowing," but newborn's family still can't meet her
Utah's weekly measles case count has fallen. The national tally hasn't, and a newborn who's too young to be vaccinated is caught in between.
World
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Canada's Doug Ford on why country needs to "fight back" against Trump trade war
"We didn't start this war," Ontario Premier Doug Ford told CBS News on "The Takeout."
Costa Rica captures top fugitive "Diablo," wanted by U.S., officials say
Alejandro Arias-Monge, 41, had a $500,000 U.S. bounty on his head for alleged drug trafficking.
Meet the "Steel Warriors" melting down knives to empower British teens
A charity is turning thousands of knives taken off London streets into a new type of weapon to counter youth violence: Free outdoor gyms.
Ex-cop wanted for murder extradited from China after 21 years on the run
The case of former officer Daniel Hiers Jr. was featured on "America's Most Wanted."
Pentagon website "anomalies" that removed names of 4 killed in Iran war remain
The Pentagon website, which was last updated on July 22, still showed only 14 killed in the conflict as of Friday.
Entertainment
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Tilly Norwood's creator insists the AI actor is creating Hollywood jobs
The robot actor is generating work for Hollywood creatives, not stealing jobs from actors, her inventor tells CBS News.
From the archives: Legendary late-night producer Peter Lassally
Peter Lassally, the fabled TV executive for such late-night hosts as Johnny Carson and David Letterman, and a mentor for many rising comedians, died July 19, 2026 at age 93. In this March 11, 2018 "Sunday Morning" profile, correspondent Mo Rocca talked with Lassally (affectionately dubbed "The Host Whisperer") about working with the kings of late-night. Lassally also talks about his childhood, part of which was spent in Nazi concentration camps, and also about whether he has had joy in his life.
Aisha Tyler on "Criminal Minds" journey
"Criminal Minds" star Aisha Tyler was only supposed to be in six episodes of the show, but her journey on the series has now spanned over a decade. She tells "CBS Mornings" how her role has impacted her in real life and what it was like to work with guest star Connor Storrie from "Heated Rivalry."
James Norton talks "House of the Dragon"
Actor James Norton describes what it is like to play a villain in "House of the Dragon," which is a prequel to "Game of Thrones" and reveals which scene made him nearly faint during shooting.
Luke Bracey on "Little House on the Prairie"
Luke Bracey tells "CBS Mornings" the new "Little House on the Prairie" series was adapted from the books rather than a reboot of the TV show. He explains why he thinks it resonates with people today and how a playlist helped him and a co-star bond over their characters.
Technology
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Technology
Lawmakers weigh AI "kill switch"
Days after OpenAI revealed one of its models went rogue and hacked into another company's servers, House lawmakers are considering a bill that would allow the federal government to effectively shut down models that may put the public at risk. Jo Ling Kent explains.
How to save on your next laptop amid AI boom
As the back-to-school shopping season begins, you can expect to pay more for certain items, like laptops, due to shortages stemming from artificial intelligence. Brian Westover, principal hardware writer for PCMag, joins CBS News to discuss how you can save money.
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.
Study: ChatGPT solved complex cybersecurity task
New research from a cybersecurity company now indicates that artificial intelligence models are getting better at solving multi-part problems. Gabriel Bernadett-Shapiro, who worked on the project and is a distinguished AI research scientist at SentinelOne, joins to unpack his team's research.
OpenAI confirms "unprecedented" incident
OpenAI is investigating after two of its AI bots went rogue and targeted an outside company during a training exercise in what the company called an "unprecedented cyber incident." Ian Krietzberg, an AI correspondent at Puck, joins with more.
Science
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Science
Wildfire smoke continues to shroud U.S.
Millions of people are enduring dangerous air quality as Canadian wildfire smoke shrouds the skies. Jonathan Overpeck, dean of the School for Environment and Sustainability at the University of Michigan, explains how climate change is worsening wildfires.
How AI data centers impact the environment
New York has become the first state to impose a temporary moratorium on data center development while state lawmakers lay the groundwork to assess environmental and social impacts. Dr. Mike Weinstein, the director of sustainability at Southern New Hampshire University, explains what we know about the wider environmental impact data centers.
Russian Soyuz rocket launches fresh crew to space station
The new crew will replace three other Soyuz fliers wrapping up a 240-day stay aboard the International Space Station.
Astronomer's name deciphered from ancient Mayan ruins for first time
The name "White-chested Fox" was found in drawings dating from 400 BC to 900 AD at the San Bartolo-Xultun archaeological site.
Disclosure Foundation head on new UFO files
The Pentagon on Friday released a new batch of UFO files, spanning 19 videos and more. Jordan Flowers, executive director of the Disclosure Foundation, joins CBS News to discuss.
Crime
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Costa Rica captures top fugitive "Diablo," wanted by U.S., officials say
Alejandro Arias-Monge, 41, had a $500,000 U.S. bounty on his head for alleged drug trafficking.
Inside heightened security for WHCA dinner
The Secret Service says there has been a significant rise in threats ahead of the rescheduled White House Correspondents' Dinner. CBS News' Nicole Sganga has more details.
Apalachee shooting suspect pleads guilty
The teen accused of killing four people during a 2024 shooting at Apalachee High School in Georgia has pleaded guilty to all charges. CBS News' Jared Eggleston reports.
Ex-cop wanted for murder extradited from China after 21 years on the run
The case of former officer Daniel Hiers Jr. was featured on "America's Most Wanted."
Warning of threats ahead of WHCA dinner
U.S. Secret Service director Sean Curran spoke about a rise in threats ahead of the rescheduled White House Correspondents' Dinner. CBS News' Nicole Sganga reports.
Space
More Space
Meteorite that hit home contains "alien world chemistry," experts say
When scientists examined the preserved fragments of a meteorite that crashed in 2024, they found brine-like fluids and key molecules.
Russian Soyuz rocket launches fresh crew to space station
The new crew will replace three other Soyuz fliers wrapping up a 240-day stay aboard the International Space Station.
Astronomers discover sugar in space that's also found in raspberries
The sugar, called erythrulose, lurks in what's called the interstellar medium: thin clouds of gas and dust littered between stars.
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.
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
Trump says "nobody got out ahead" on Saudi deal
President Trump took questions from reporters the day after he seemed to upend a nuclear agreement with Saudi Arabia by adding a new condition: that the country join the Abraham Accords. CBS News White House reporter Olivia Rinaldi has the details.
Ontario Premier Ford on U.S.-Canada relations
Ontario Premier Doug Ford spoke with CBS News senior White House and political correspondent Ed O'Keefe about the upcoming opening of the Gordie Howe Bridge and President Trump's new tariffs on Canada. "We didn't start this trade war. President Trump decided to go after his close ally and friend, his number one customer in the entire world," Ford said.
Impact of Trump's new tariffs
The markets showed a muted reaction as President Trump announced the latest round of tariffs on Thursday over "forced labor" concerns. Moneywatch correspondent Kelly O'Grady reports.
Trump to meet with Zelenskyy at White House
President Trump is set to meet with Ukrainian President Zelenskyy on Tuesday amid calls for military support against Russia as Ukraine gains ground in the conflict. The Trump administration also recently imposed a new round of tariffs on dozens of countries, alleging forced labor concerns. Nicole Killion breaks it down.
Details of court hearing for NYT subpoenas
A judge criticized the Justice Department for legal errors that ultimately led the agency to withdraw its subpoenas of two New York Times journalists who wrote a story about security concerns on President Trump's Qatari-gifted Air Force One. CBS News' Katrina Kaufman has the latest.