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.
White House hosting UFC fight tonight on Trump's 80th birthday
The UFC is hosting a fight series on the White House South Lawn Sunday night.
Live
Qatari mediators travel to Tehran to finalize truce, diplomat says
President Trump said the Strait of Hormuz will be reopened "immediately," once the memorandum of understanding is signed.
Vance: Trump "very supportive" as vice president moves closer to 2028 decision
Vice President JD Vance tells "CBS Sunday Morning" that he and his wife, Usha, will make a decision whether to enter the 2028 presidential race following the 2026 midterm elections.
Knicks capture first NBA title in 53 years
The New York Knicks captured their first NBA championship in 53 years with a 94-90 win over the San Antonio Spurs in Game 5 of the NBA Finals.
Trump's name removed from Kennedy Center, court filing says
A federal appellate court denied a last-minute attempt by the Trump administration to stop the removal of President Trump's name from the Kennedy Center on Friday.
With uncertainty around H-1B visa fee, U.S. businesses unsure how to move forward
Earlier this week, a federal judge invalidated the White House's $100,000 H-1B fee policy in response to a lawsuit brought by 20 states.
"It rips my heart apart": U.S. military veteran calls on ICE to release wife
An American citizen who served in the Army and the Texas National Guard for roughly 20 years is desperately urging immigration officials to release his wife, who is facing deportation to Honduras.
Fighter jet crashes in Washington state, sparking wildfire
A pilot survived after a fighter jet crashed into a mountain Saturday afternoon in Yakima County, Washington, sparking a wildfire, officials said.
Body found outside Tijuana stadium where Iran team is training for World Cup
Mexican authorities are investigating how a corpse ended up outside a stadium in the border city of Tijuana, where Iran's national team has been training for the World Cup.
U.S.
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"Do not open until July 4, 2276": What will America's Time Capsule reveal?
To mark America's 250th, a time capsule will be buried in Philadelphia on July 4, not to be opened until America's quincentennial. What objects made the cut to be preserved for another 250 years?
White House hosting UFC fight tonight on Trump's 80th birthday
The UFC is hosting a fight series on the White House South Lawn Sunday night.
Fighter jet crashes in Washington state, sparking wildfire
A pilot survived after a fighter jet crashed into a mountain Saturday afternoon in Yakima County, Washington, sparking a wildfire, officials said.
How an Iowa woman became a key witness in her own murder
The last words spoken by Angela Prichard, 55, an Iowa wife and mother who called 911 to report she was in danger, was the first clue investigators had to identify her killer.
With uncertainty around H-1B visa fee, U.S. businesses unsure how to move forward
Earlier this week, a federal judge invalidated the White House's $100,000 H-1B fee policy in response to a lawsuit brought by 20 states.
MoneyWatch
More MoneyWatch
With uncertainty around H-1B visa fee, U.S. businesses unsure how to move forward
Earlier this week, a federal judge invalidated the White House's $100,000 H-1B fee policy in response to a lawsuit brought by 20 states.
DOJ paves way for Paramount Skydance to buy Warner Bros. Discovery
Paramount Skydance's $110 billion acquisition of Warner Bros. Discovery would not harm U.S. consumers or weaken competition, DOJ antitrust enforcers said.
As SpaceX IPO launches, Texans near its Starbase HQ are mixed on the company
SpaceX's arrival in the region has been good for business, some Brownsville, Texas, residents say, while others rue its impact on the local community.
Former SpaceX welder becomes a millionaire after historic IPO
Juan Hernandez, a former SpaceX employee, owns 6,500 company shares. On the first day of public trading, his wealth ballooned by $1,046,175.
Why the liberal arts can help young Americans prepare for the era of AI
The advent of AI puts a premium on developing skills like critical thinking and communication, according to education experts. The liberal arts can help.
Politics
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Vance: Trump "very supportive" as vice president moves closer to 2028 decision
Vice President JD Vance tells "CBS Sunday Morning" that he and his wife, Usha, will make a decision whether to enter the 2028 presidential race following the 2026 midterm elections.
JD and Usha Vance on faith and family
Vice President JD Vance and his wife, Usha, are expecting their fourth child. They talk about family; his book, "Communion: Finding My Way Back to Faith"; and his future.
White House hosting UFC fight tonight on Trump's 80th birthday
The UFC is hosting a fight series on the White House South Lawn Sunday night.
"It rips my heart apart": U.S. military veteran calls on ICE to release wife
An American citizen who served in the Army and the Texas National Guard for roughly 20 years is desperately urging immigration officials to release his wife, who is facing deportation to Honduras.
Trump says U.S. killed Tren de Aragua leader in airstrike in Venezuela
The U.S. military has killed Niño Guerrero, the alleged leader of Venezuela-based gang Tren de Aragua, President Trump announced Friday.
HealthWatch
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In Japan, life lessons in healthy eating
In the U.S. the percentage of obese adults is about ten times what it is in Japan. What differentiates the Japanese diet, and how are schools making it their mission to give Japanese children a taste of a healthy life?
Her Stage IV cancer had no symptoms. Innovative surgery saved her life.
A chance emergency room visit led to Amy Piccoli's diagnosis with late-stage colorectal cancer.
FDA approves new sunscreen ingredient
The FDA approved a new ingredient for sunscreen that's been in use in Europe for years. Dr. Jon LaPook has more details.
New sunscreen option wins FDA approval after years of delay
A sunscreen ingredient that's been available in Europe, Japan and South Korea for years has finally been approved by the FDA for sale in the U.S.
Safety concerns over weight loss drug
There's a new safety concern about doctors prescribing one experimental weight loss treatment, retatrutide, that hasn't even been FDA approved yet. Adam Yamaguchi reports.
World
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Early results indicate defeat of measure that would cap Swiss population
The number of people living in Switzerland has soared by nearly one-quarter over the last generation.
In Japan, life lessons in healthy eating
In the U.S. the percentage of obese adults is about ten times what it is in Japan. What differentiates the Japanese diet, and how are schools making it their mission to give Japanese children a taste of a healthy life?
Body found outside Tijuana stadium where Iran team is training for World Cup
Mexican authorities are investigating how a corpse ended up outside a stadium in the border city of Tijuana, where Iran's national team has been training for the World Cup.
Ukrainian drone attack kills 1, injures 3 in southern Russia
Ukraine's General Staff said that its forces had hit an oil preparation and pumping station overnight in Russia's Volgograd region.
Police dress up as World Cup mascots to carry out drug sting
The officers in mascot costumes used a metal sledgehammer to break down a door to enter with colleagues.
Entertainment
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Entertainment
Soccer art made from gum wrappers
Artist Lyndon J. Barrois Sr. painstakingly sculpts art depicting soccer players. His medium of choice? The humble chewing gum wrapper. Correspondent Luke Burbank talks with Barrois about his Los Angeles exhibit, "Fútbol Is Life: Animated Sportraits," which captures iconic moments from nearly 100 years of the World Cup in tiny pieces of paper and foil.
Passage: In memoriam
"Sunday Morning" remembers some of the notable figures who left us this week, including "Today" film critic Gene Shalit.
David Hockney: An appreciation
David Hockney's constant experimentations in art gave us six decades of swimming pools and sun-drenched scenes, intimate portraits of friends, vibrant depictions of his native Yorkshire, and groundbreaking digital works. The British-born painter died on Thursday, June 11, 2026 at age 88. Correspondent Seth Doane offers an appreciation of the groundbreaking body of work, by an artist whom British Prime Minister Keir Starmer called one of the most important figures in contemporary art in both the 20th and 21st centuries.
"It's a Good Life" for actor Bill Mumy
Now 72, the former child star of such classic TV series as "The Twilight Zone" and "Lost in Space" avoided the dangers that other young actors faced while pursuing a Hollywood career, as an Emmy-nominated songwriter, touring musician and recording artist.
Extended interview: Bill Mumy
In this web exclusive, the former child actor Bill Mumy, star of such 1960s series as "Lost in Space" and "The Twilight Zone," talks with Jim Axelrod about how he avoided the troubles that often befall child actors.
Technology
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As SpaceX IPO launches, Texans near its Starbase HQ are mixed on the company
SpaceX's arrival in the region has been good for business, some Brownsville, Texas, residents say, while others rue its impact on the local community.
SpaceX expansion plans impact local community
Residents near SpaceX's South Texas campus have mixed opinions about Elon Musk's company and its plans to expand operations. CBS News' Jason Allen reports from Starbase, Texas.
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.
Why the liberal arts can help young Americans prepare for the era of AI
The advent of AI puts a premium on developing skills like critical thinking and communication, according to education experts. The liberal arts can help.
Uproar over planned data center near zoo
Residents are protesting plans for a 70,000-square-foot data center near the Nashville Zoo. CBS News' Skyler Henry reports.
Science
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Science
Watch: Pentagon releases 6 new UFO videos
The Defense Department released a third batch of UFO files on Friday, three weeks after its second drop. These are all of the videos in the latest tranche, plus analysis from astrophysicist Avi Loeb.
Goblin shark seen alive in natural deep-sea habitat for the first time
The goblin shark had only previously been seen when caught by fishermen and they died shortly afterward.
World's largest whale graveyard found by sub at bottom of ocean
The researchers saw many strange animals — many believed to be new to science — living off the whale carcasses.
NASA names 4 astronauts for next Artemis mission
NASA's Artemis III astronauts plan to carry out rendezvous and docking procedures with commercial moon landers being built by SpaceX and Blue Origin.
Great white shark captured on video in Mediterranean in rare sighting
Great white sharks are classified as "critically endangered" in the Mediterranean Sea, and underwater sightings are incredibly rare.
Crime
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How an Iowa woman became a key witness in her own murder
The last words spoken by Angela Prichard, 55, an Iowa wife and mother who called 911 to report she was in danger, was the first clue investigators had to identify her killer.
Police dress up as World Cup mascots to carry out drug sting
The officers in mascot costumes used a metal sledgehammer to break down a door to enter with colleagues.
Armed men kidnap respected security expert in gang-wracked Haiti
James Boyard is the cabinet director of Haiti's Defense Ministry and also serves as inspector general of Haiti's police.
Texas shooting kills at least 1, injures 10
On Wednesday, a 45-year-old gunman opened fire on police in Midland, Texas, allegedly refusing to surrender to police. He fled, finally barricading himself in an abandoned veterinary building and shooting wildly. All of those shot were civilians. The gunman was found dead on Friday, with the FBI and state agencies investigating. Jason Allen has more.
Midland gunman was on the run before shooting
At least one person is dead, and 10 others are injured after a gunman opened fire in Midland, Texas, on Friday. The shooter died after a standoff with police. CBS News correspondent Jason Allen reports.
Space
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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.
NASA names 4 astronauts for next Artemis mission
NASA's Artemis III astronauts plan to carry out rendezvous and docking procedures with commercial moon landers being built by SpaceX and Blue Origin.
Space station crew briefly moves to "safe haven" amid concerns over leaks
Out of an abundance of caution, NASA briefly directed five of the seven crew members aboard the International Space Station to wait inside the docked SpaceX Crew Dragon "Freedom" spacecraft.
Sun erupts with 3 solar flares, raising chances of northern lights for U.S.
Three solar flares burst from the sun this week, raising the chances of seeing the northern lights for people across the United States.
NASA reluctantly gives up on lost orbiter: "Best Mars mission ever"
NASA officials said the $582 million MAVEN orbiter could not be recovered after a problem on the far side of Mars late last year, and that its extraordinarily successful mission was at an end.
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.
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.
Who is Alix Tichelman?
Meet the tattooed beauty charged in the death of Google executive Forrest Hayes.
Latest CBS News Videos
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Latest CBS News Videos
Nature: Hoh Rain Forest in Washington State
We leave you this Sunday morning deep in the Hoh Rain Forest on the Olympic Peninsula in western Washington state. Videographer: Lance Milbrand.
N.J. students' rite of passage via the Appalachian Trail
St. Benedict's Preparatory School, a private high school in Newark, N.J., requires freshmen – many of whom have never been hiking or camping – to hike the Appalachian Trail for five days, with "some" adult supervision. Steve Hartman reports on an annual 55-mile rite of passage.
Soccer art made from gum wrappers
Artist Lyndon J. Barrois Sr. painstakingly sculpts art depicting soccer players. His medium of choice? The humble chewing gum wrapper. Correspondent Luke Burbank talks with Barrois about his Los Angeles exhibit, "Fútbol Is Life: Animated Sportraits," which captures iconic moments from nearly 100 years of the World Cup in tiny pieces of paper and foil.
Extended interview: JD Vance
In this web exclusive, Vice President JD Vance talks with Robert Costa about his new book, "Communion: Finding My Way Back to Faith," his conversion to Catholicism, and a potential run for the presidency in 2028.
Extended interview: JD and Usha Vance
In this web exclusive, Vice President JD Vance and second lady Usha Vance talk about JD's faith journey (as featured in his new book, "Communion: Finding My Way Back to Faith"); their interfaith marriage; and about expecting their fourth child.