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
Tehran says Strait of Hormuz "under Iran's control" after Trump threat
Tehran has asserted that the Strait of Hormuz is "under Iran's control and management" after President Trump said the U.S. might "keep it."
Senators demand answers about conditions aboard USS Abraham Lincoln
Senate Democrats are demanding answers about conditions aboard the USS Abraham Lincoln during the aircraft carrier's record-setting deployment.
Kennedy Center board votes to restore Trump's name on building
The Kennedy Center's board of trustees voted to add President Trump's name to the facade of the performing arts center, more than two months after a judge ordered its removal, according to a Democrat who sits on the center's board.
Baby in surrogate dispute now in custody of parents, lawyer says
The baby at the center of a surrogacy dispute was born in Texas Wednesday and has hypoplastic left heart syndrome, a rare heart defect.
Luigi Mangione in discussions about possible guilty plea, sources say
Luigi Mangione, accused in the 2024 killing of UnitedHealthcare CEO Brian Thompson, is in discussions about a possible plea deal on federal charges, sources familiar with the matter told CBS News.
Trump administration's antisemitism lawsuit against Harvard dismissed
The lawsuit was one of many steps against Harvard that the Trump administration has taken since President Trump's return to office, in addition to attempting to cancel billions of dollars in federal funds.
Cities propose new tactics to crack down on so-called "teen takeovers"
Large gatherings of young people, often spurred by online invites, can lead to violence and injuries, even death.
Robert Gilman was on "death's door" before Russia freed him, advocate says
Robert Gilman, a U.S. Marine veteran, was imprisoned in Russia for over four years and now faces a long road to recovery, says a hostage crisis expert who advocated for Gilman's release.
Floodwaters submerge Midwest neighborhoods bracing for more severe storms
Muddy floodwaters seeped into the homes of Indiana and Ohio residents this week, as severe storms struck the Midwest. Now, some areas are bracing for even more rain.
U.S.
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This week on "Sunday Morning" (Aug. 16)
A look at the features for this week's broadcast of the Emmy-winning program, hosted by Jane Pauley.
Kennedy Center board votes to restore Trump's name on building
The Kennedy Center's board of trustees voted to add President Trump's name to the facade of the performing arts center, more than two months after a judge ordered its removal, according to a Democrat who sits on the center's board.
Record-breaking heat takes mounting toll on the U.S. economy
Heat waves are dealing a financial blow to businesses and creating hazardous conditions for workers, according to climate experts.
Baby in surrogate dispute now in custody of parents, lawyer says
The baby at the center of a surrogacy dispute was born in Texas Wednesday and has hypoplastic left heart syndrome, a rare heart defect.
Luigi Mangione in discussions about possible guilty plea, sources say
Luigi Mangione, accused in the 2024 killing of UnitedHealthcare CEO Brian Thompson, is in discussions about a possible plea deal on federal charges, sources familiar with the matter told CBS News.
MoneyWatch
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Record-breaking heat takes mounting toll on the U.S. economy
Heat waves are dealing a financial blow to businesses and creating hazardous conditions for workers, according to climate experts.
Can taking weight-loss drugs help you get hired? Yes, if you're a woman.
Going on GLP-1 drugs significantly boosted unemployed women's chances of finding a job, according to a Harvard economist.
Reese's Halloween pumpkins hit shelves unchanged after lawsuit victory
Hershey said the Halloween-shaped candy, which had sparked a lawsuit over the product's lack of detail, will return in its familiar oval shape.
Whole Foods recalls some jalapeño products over salmonella risk
Certain salsas, guacamole, pico de gallo and prepared jalapeño products at Whole Foods are among the products recalled over possible salmonella risk.
How much time does AI save at work? New Census Bureau data breaks it down.
New Census data shows how much faster workers can complete tasks when they enlist artificial intelligence for help.
Politics
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Kennedy Center board votes to restore Trump's name on building
The Kennedy Center's board of trustees voted to add President Trump's name to the facade of the performing arts center, more than two months after a judge ordered its removal, according to a Democrat who sits on the center's board.
Trump administration's antisemitism lawsuit against Harvard dismissed
The lawsuit was one of many steps against Harvard that the Trump administration has taken since President Trump's return to office, in addition to attempting to cancel billions of dollars in federal funds.
DOJ leaves in place ruling that deregulates silencers, shotguns
A Texas judge earlier this month issued a ruling that deregulated silencers, shotguns and certain rifles.
Robert Gilman was on "death's door" before Russia freed him, advocate says
Robert Gilman, a U.S. Marine veteran, was imprisoned in Russia for over four years and now faces a long road to recovery, says a hostage crisis expert who advocated for Gilman's release.
Live
Tehran says Strait of Hormuz "under Iran's control" after Trump threat
Tehran has asserted that the Strait of Hormuz is "under Iran's control and management" after President Trump said the U.S. might "keep it."
HealthWatch
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My husband was kicked out of hospice. Here's what I learned.
Some seriously ill patients improve on hospice. About 1 in 16 patients enrolled in hospice care lose eligibility as a result. Here's how to get appropriate care.
Texas steps into surrogate fight with parents
California parents wanted to end a surrogate pregnancy when doctors diagnosed the baby with a severe heart defect at 20 weeks. The surrogate refused and went to Texas, where the state has now stepped in. The baby was born on Wednesday. Jason Allen reports.
Whole Foods recalls some jalapeño products over salmonella risk
Certain salsas, guacamole, pico de gallo and prepared jalapeño products at Whole Foods are among the products recalled over possible salmonella risk.
Maps and charts show record number of measles cases in U.S. this year
CBS News has been tracking a record number of measles cases and outbreaks around the country. The majority of cases are among those who haven't been vaccinated.
Norah O'Donnell: I take testosterone. Here's why.
Norah O'Donnell sat down with her own doctor, Rachel Rubin, to tackle the important topic of menopause: How your body changes, why women may be needlessly suffering, and what you can actually do about it.
World
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Poland says it thwarted Russian plot to kill an American citizen
Polish Prime Minister Donald Tusk said the suspect was allegedly recruited by Russia's secret services.
They've survived 2 major earthquakes in Colombia: "A sense of powerlessness"
Colombia earthquake survivors are facing major loss and a yearslong road to recovery filled with grief and uncertainty. Here's what responders say will happen next.
Robert Gilman was on "death's door" before Russia freed him, advocate says
Robert Gilman, a U.S. Marine veteran, was imprisoned in Russia for over four years and now faces a long road to recovery, says a hostage crisis expert who advocated for Gilman's release.
Search for survivors of Colombia earthquake enters "final phase"
Rescuers in Colombia were making last-ditch efforts to locate earthquake survivors early Thursday as the critical 72-hour window for rescue operations neared its end.
$5,255 fine issued after foghorn wakes up sleeping polar bear
Under local regulations, "it is forbidden to needlessly disturb, attract or pursue a polar bear," which was declared a protected species in 1972.
Entertainment
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Entertainment
Becky G gives behind-the-scenes look
"CBS Mornings" co-host Gayle King went inside a rehearsal with singer Becky G as she gives fans a sneak peek at a new single before her upcoming album's release.
Recipe: Amish Peanut Butter Pie
Lovina Hershberger Zook, who left the Amish faith, today shares recipes of the Amish with her more than six million followers on social media.
"CBS Sunday Morning" launches new series of live events at the 92nd Street Y in NYC, debuting with Sylvester Stallone
America's #1 Sunday morning news program announces a new collaboration beginning Sept. 28 to bring conversations with the biggest newsmakers in the arts, politics and culture to the stage, and streamed online.
Exclusive
Becky G reflects on advocacy in new music, rise to fame
Becky G spoke exclusively with "CBS Mornings" co-host Gayle King about her rise to fame, being the breadwinner of the family at a young age and her new music.
Becky G on her rise to fame, new music
Singer Becky G was signed to a record label at just 14 years old. She spoke exclusively to "CBS Mornings" co-host Gayle King about her rise to fame, advocacy in her new music and major collaborations.
Technology
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Technology
Google unveils new tech, centered around AI
Google is officially unveiling its latest line of Pixel phones and other new devices at its 2026 Made By Google event in New York. AI is at the center of its newest offerings. Matt Binder, a senior reporter at Mashable, joins CBS News to discuss.
Meta on trial for social media addiction suit
Tech giant Meta is being accused of designing social media platforms that violate privacy and enable social media addiction in children. Jury selection in the trial begins today. CBS News legal contributor Jessica Levinson has more on the case.
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.
Duffy on new tech for air travel safety
Top transportation officials were at Newark Airport on Tuesday for the installation of a new radar system designed to help controllers prevent runway incidents. CBS News senior transportation correspondent Kris Van Cleave spoke with Transportation Secretary Sean Duffy about the new technology.
Wall Street targets $500B for AI
Nvidia scored an astounding $500 billion in financing for artificial intelligence, backed by Wall Street's top power brokers and firms. Puck founding partner and industry journalist William D. Cohan weighs in on the AI boom and data center construction.
Science
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Science
Views of the total solar eclipse in Europe
A total solar eclipse was visible in parts of Europe for the first time since 1912. Rob Marciano reports.
Europe sees total solar eclipse
A total solar eclipse turned day into night across a slice of Europe and North America on Wednesday, and put millions in unique contact with the heavens above. Meteorologist Rob Marciano reports from Spain.
Astronomy professor on how eclipses work
Janna Levin, professor of physics and astronomy at Barnard College, joins CBS News to discuss Wednesday's total solar eclipse.
How a total solar eclipse stopped a war
Columbia University astronomy professor Dr. Janna Levin joins CBS News to discuss Wednesday's total solar eclipse, saying it's a reminder that humans share this Earth together and "we're all part of something larger."
New space object called "black hole star" discovered by astronomers
The newly discovered object looks like a star the size of our solar system, but produces 100 billion times more energy than any star.
Crime
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Luigi Mangione in discussions about possible guilty plea, sources say
Luigi Mangione, accused in the 2024 killing of UnitedHealthcare CEO Brian Thompson, is in discussions about a possible plea deal on federal charges, sources familiar with the matter told CBS News.
Latest details in Nick Reiner murder charges
Nick Reiner has been indicted on murder charges in the killings of his parents, Rob and Michele Reiner. CBS News' Katrina Kaufman explains the charges.
Over 30 nations condemn Iran death penalties
Over 30 countries condemned Iran's overuse of the death penalty. Exiled Iranian political dissident and CBS News contributor Masih Alinejad shares her reaction.
Cities propose new tactics to crack down on so-called "teen takeovers"
Large gatherings of young people, often spurred by online invites, can lead to violence and injuries, even death.
Mangione may discuss a plea deal, sources say
Luigi Mangione is expected in federal court for a hearing on Friday. This comes as sources tell CBS News that his defense team may discuss a potential plea deal with prosecutors. CBS News' Caroline Polisi has more.
Space
More Space
New space object called "black hole star" discovered by astronomers
The newly discovered object looks like a star the size of our solar system, but produces 100 billion times more energy than any star.
Stunning photos show total solar eclipse over Europe
The only total solar eclipse of 2026 crossed the Northern Hemisphere Wednesday, with a path of totality across parts of Greenland, Iceland and northern Spain. See photos and video from the best viewing locations.
Perseid meteor shower reaches peak viewing on Wednesday night
The Perseid meteor shower is the best viewing all year, according to NASA.
Most detailed images taken of sun's surface revealed
Researchers were able to peek at the sun's scorching surface with the help of the National Science Foundation's Daniel K. Inouye Solar Telescope, located on the island of Maui in Hawaii.
SpaceX rocket booster slams into moon, creating crater that could be 16 feet deep
The impact wasn't visible to the naked eye, but photos are expected to come from a lunar satellite at a later time.
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.
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.
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.
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
Becky G gives behind-the-scenes look
"CBS Mornings" co-host Gayle King went inside a rehearsal with singer Becky G as she gives fans a sneak peek at a new single before her upcoming album's release.
Running Dry | 60 Minutes Archive
The nation's largest reservoir, Lake Mead, has fallen to a record low. In 2021, Bill Whitaker visited the Colorado River and reported on how millions of people depend on the water to drink, power their homes, and irrigate their farms.
Devastating flooding in Indiana
Indiana Gov. Mike Braun has declared a state of emergency after parts of his state saw record rainfall totals that led to floods on Wednesday. CBS News' Meg Oliver and Jessica Burch have more.
Lakers sale highlights rise in franchise values
News broke on Wednesday that the Los Angeles Lakers will be sold to Bob Iger and Josh Kushner for $12.5 billion. Mike Vorkunov, national NBA and basketball business reporter for the Athletic, joins CBS News to discuss.
Global health chief warns about Ebola
Dr. Tedros Adhanom Ghebreyesus, the head of the World Health Organization, is warning that the Ebola outbreak in Congo could be the deadliest ever. CBS News' Ramy Inoncencio reports.