Federal Reserve hikes interest rates 0.25 percentage point
While the central bank is slowing its rate increases, Jerome Powell told investors not to expect lower rates this year.
Jerome Powell
Stocks rise after Fed acknowledges "disinflationary process"
"We will need substantially more evidence to be confident that inflation is on ... downward path," said Fed Chair Jerome Powell
Fed expected to raise interest rates again
The Federal Reserve is expected to announce another interest rate hike today, but the increase is expected to be lower than previous hikes that began in March 2022. Fed Chairman Jerome Powell will address the media this afternoon. CBS News reporter Sarah Ewall-Wice joins us to discuss the significance.
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.
Federal Reserve Chair Jerome Powell has COVID-19
U.S. central bank chief is isolating at home while "experiencing mild symptoms," according to the Fed.
Fed eyes first rate hike of new year
The Federal Reserve is eyeing another interest rate hike, and experts say the increase could be just a quarter of a percentage point. Sultan Meghji, the former chief innovation officer at the Federal Deposit Insurance Corporation and a professor at Duke University's Pratt Engineering School, joins CBS News to discuss.
Fed can't do much to fight climate change, Powell says
Central banks should lean on banks to consider environmental risks in lending, climate activists say.
Top economist shares outlook for 2023
The U.S. saw solid gains in the labor market in December, but concerns about a possible recession still linger. Bank of America's chief economist Michael Gapen joins CBS News' Catherine Herridge with his economic forecast for 2023.
Will 2023 be a tough year for economy?
International Monetary Fund managing director Kristalina Georgieva warned that the global economy could face a "tough year" in 2023 in an interview on "Face the Nation." Threadneedle Ventures founder Ann Berry joined CBS News' Vladimir Duthiers and Anne-Marie Green to discuss the likelihood of a recession, rising interest rates and the global economy.
Stock market starts "Santa Claus rally"
J.D. Durkin, host of "The Street," joined CBS News to discuss the gains made by the stock market Thursday, and what investors are looking for going into 2023.
Stocks continue to fall at end of turbulent week
The Dow dropped another 300 points at its opening Friday, the index's third straight day of losses after news of a rise in interest rates and a drop in retail spending. Jesse Wheeler, an economic analyst for Morning Consult, joins CBS News to discuss the latest financial news and what the future holds.
Federal Reserve raises interest rates again
The Federal Reserve raised interest rates Wednesday for the seventh time this year. However, the latest rate hike is slightly lower than the last several increases. CBS News chief White House correspondent Nancy Cordes; Javier David, a CBS News contributor and managing editor of business and markets for Axios; and J.D. Durkin, a host for financial news website TheStreet, discussed the latest move from the nation's central bank.
Fed chair says rate cuts unlikely in 2023
The Federal Reserve boosted its benchmark interest rate by 0.5 percentage point, marking its seventh consecutive hike this year. David Wessel, the director of the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution, joined John Dickerson to discuss the Fed's efforts to bring inflation down.
Fed hikes key interest rate for seventh time this year
Rates are at their highest level in 15 years as policymakers try to tamp down inflation without torpedoing the economy.
Stocks fall following latest rate hikes
The Federal Reserve raised interest rates by half a point Wednesday, and the Dow Jones Industrial Average index fell following the announcement before briefly spiking when Fed Chairman Jerome Powell said that he wouldn't rule out the prospect of a soft landing. J.D. Durkin, host of "TheStreet," joined CBS News to look back on the Fed's work in 2022 and discuss what Americans should expect in the coming year.
Inflation cooled in November for fifth month
The annual inflation rate hit 7.1% in November, the fifth straight month that consumer prices cooled off. Lori Bettinger, president of BancAlliance, joins CBS News' Elaine Quijano and Lana Zak on how this could affect the Federal Reserve's announcement Wednesday on interest rates.
Feds expected to raise interest rates again
The Federal Reserve is set to meet this week to discuss another possible interest rate hike. The two-day meeting comes after Treasury Secretary Janet Yellen saying she predicts a significant reduction in inflation by the end of next year. Kristin Myers, the editor-in-chief at The Balance, joins CBS News to discuss.
Surprising jobs report shows strong hiring
The Labor Department's November jobs report showed the U.S. gained 263,000 jobs last month. But fears about inflation and a possible recession remain. Meg Oliver reports.
Strong job numbers could signal more rate hikes
With the Labor Department on Friday reporting stronger November job numbers than expected, the Federal Reserve could react with yet another interest rate hike in an effort to curb inflation. Skyler Henry has the details.
Stock market slides after jobs report
The U.S. added more than 260,000 jobs in November despite the Federal Reserve's efforts to cool off the economy by raising interest rates. J.D. Durkin, host of "TheStreet," joins CBS News from the floor of the New York Stock Exchange to discuss investors' reaction to the new report.
Labor market resilient despite rate hikes
The November jobs report showed the U.S. economy added 263,000 jobs as the Federal Reserve considers its next interest rate hike. CBS News business analyst Jill Schlesinger joined Errol Barnett and Elaine Quijano with more on the direction of the labor market.
Stock market mixed after strong hiring data fans inflation worries
Stronger-than-expected wage data raised expectations Fed hikes will be more aggressive to get inflation under control.
How the Fed may react to monthly jobs report
The Federal Reserve is expected to keep an eye on the November jobs report as it considers its next interest rate hike. Kristin Myers, editor-in-chief of The Balance, joins CBS News' Errol Barnett and Elaine Quijano to discuss on what to expect.
Inflation slowed in October, gauge closely tracked by Fed shows
Inflation dropped to still-high 6%, likely bolstering Fed's resolve to keep raising interest rates well into 2023.
Economist warns of recession next year
As the Federal Reserve continues efforts to bring Inflation down, S & P Global Ratings is warning of a mild recession in 2023. Beth Ann Bovino, chief economist for S & P Global Ratings, joined John Dickerson on "Prime Time" to discuss.
Live
Israel targets more Iran leaders as allies reject Trump's calls for help
Israel says it killed Iran's top security official Ali Larijani, as America's European allies reject Trump's demands for help in the Strait of Hormuz.
Exclusive
Trump hosting big White House event around EPA's biofuels mandates decision
President Trump has invited farmers and biofuels producers to the White House for an event next week as the industry awaits the government's announcement on mandates for the fuel additives.
Kouri Richins, mom who wrote grief book, found guilty of murdering her husband
Jurors delivered their verdict Monday in the trial of Kouri Richins, a Utah mother accused of murdering her husband and later publishing a children's book about grief.
Judge blocks parts of RFK Jr.'s vaccine agenda, including revised schedule
A judge blocked a set of changes to the childhood vaccine schedule recommended by allies of Health and Human Services Secretary Robert F. Kennedy, dealing a setback to the Trump administration's efforts to overhaul federal vaccine policy.
Maine Democratic Senate primary grows bitter as party vies to unseat Susan Collins
A bitter Democratic primary is unfolding in Maine as Gov. Janet Mills and Graham Platner battle for the chance to challenge GOP Sen. Susan Collins — pitting a governor with a long political resume against an anti-establishment oyster farmer.
Alleged pipe bomber argues charges should be tossed under Jan. 6 pardons
A man who was accused of planting pipe bombs outside the RNC and DNC on the eve of the Jan. 6 attack is arguing he is covered by President Trump's sweeping pardons of alleged Jan. 6 rioters.
Ex-wife told 911 the Michigan synagogue attacker was "not stable" before incident
A person believed to be the ex-wife of the suspect in the attack at Michigan's Temple Israel told authorities that the suspect was "not stable" ahead of the attack, according to a 911 call obtained by CBS News Detroit.
Illinois Senate primary race is test of Pritzker's sway, Democrats' views of ICE, outside spending
The 2026 Democratic primary campaign for retiring Sen. Dick Durbin's Senate seat is largely a three-person race. Voters go to the polls Tuesday in Illinois.
Cuba plans to open up to investment from nationals in U.S. amid pressure from Trump
The Cuban government is planning to allow Cuban nationals who live abroad to invest in the island, a government official told NBC News, as the country faces economic collapse and pressure from the Trump administration.
U.S.
More U.S.
Blizzards, severe storms, heat wave hit U.S. with array of extreme weather
From a surprising heatwave in California to blizzards burying parts of the Midwest and storms rolling over the East Coast, chaotic weather put more than half the nation's population in the path of extreme conditions.
Illinois Senate primary race is test of Pritzker's sway, Democrats' views of ICE, outside spending
The 2026 Democratic primary campaign for retiring Sen. Dick Durbin's Senate seat is largely a three-person race. Voters go to the polls Tuesday in Illinois.
Alleged pipe bomber argues charges should be tossed under Jan. 6 pardons
A man who was accused of planting pipe bombs outside the RNC and DNC on the eve of the Jan. 6 attack is arguing he is covered by President Trump's sweeping pardons of alleged Jan. 6 rioters.
Kouri Richins, mom who wrote grief book, found guilty of murdering her husband
Jurors delivered their verdict Monday in the trial of Kouri Richins, a Utah mother accused of murdering her husband and later publishing a children's book about grief.
Kennedy Center votes to shut down ahead of Trump-backed renovation project
The Kennedy Center's board of directors has voted to shut down operations for two years following this summer's July 4 celebrations.
MoneyWatch
More MoneyWatch
Costco recalls meatloaf meal due to salmonella risk
Costco is recalling a meatloaf and potato meal kit because one of its ingredients may be contaminated with salmonella.
Hyundai stops sales of some 2026 models after a child's death
Hyundai's announcement came after a child died in an incident involving a Palisade vehicle, which the car maker said is still under investigation.
With gas prices still rising, experts recommend 3 ways to save fuel
Small adjustments, like maintaining a steady speed while driving, can help maximize fuel efficiency, experts say.
Gas prices edge higher with Brent crude remaining above $100 per barrel
Gas prices have jumped almost 79 cents per gallon from a month ago, raising fresh inflation concerns.
The Iran war is making it harder for Fed officials to cut interest rates
Some economists think the Fed, facing inflationary pressures from rising energy prices, may not cut interest rates at all this year.
Politics
More Politics
Exclusive
Trump hosting big White House event around EPA's biofuels mandates decision
President Trump has invited farmers and biofuels producers to the White House for an event next week as the industry awaits the government's announcement on mandates for the fuel additives.
Maine Democratic Senate primary grows bitter as party vies to unseat Susan Collins
A bitter Democratic primary is unfolding in Maine as Gov. Janet Mills and Graham Platner battle for the chance to challenge GOP Sen. Susan Collins — pitting a governor with a long political resume against an anti-establishment oyster farmer.
Illinois Senate primary race is test of Pritzker's sway, Democrats' views of ICE, outside spending
The 2026 Democratic primary campaign for retiring Sen. Dick Durbin's Senate seat is largely a three-person race. Voters go to the polls Tuesday in Illinois.
Alleged pipe bomber argues charges should be tossed under Jan. 6 pardons
A man who was accused of planting pipe bombs outside the RNC and DNC on the eve of the Jan. 6 attack is arguing he is covered by President Trump's sweeping pardons of alleged Jan. 6 rioters.
Kennedy Center votes to shut down ahead of Trump-backed renovation project
The Kennedy Center's board of directors has voted to shut down operations for two years following this summer's July 4 celebrations.
HealthWatch
More HealthWatch
Judge blocks parts of RFK Jr.'s vaccine agenda, including revised schedule
A judge blocked a set of changes to the childhood vaccine schedule recommended by allies of Health and Human Services Secretary Robert F. Kennedy, dealing a setback to the Trump administration's efforts to overhaul federal vaccine policy.
Changes in organ donor status can fall through cracks in the system
Patchwork state policies and limited federal oversight have led to a fragmented system for tracking organ donor status.
A dad's colon cancer spread to lungs. He says what happened next was a miracle.
Spencer Laird was diagnosed with colon cancer at 26. At 30, he was told it had returned and spread to his lungs, with one tumor the size of a golf ball.
Dr. Oz pledges to tackle hospice fraud: "Do not steal from the American people"
The Trump administration's Medicare boss reacts to CBS News investigation into California's hospice fraud problems.
Millions of Americans skip meals, stretch medication to afford health care
Even people with six-figure incomes are making financial sacrifices to pay for medical care, a new study finds.
World
More World
Accused Latin American drug lord arrives in U.S. after years on the run
Sebastian Marset, who eluded police for years, was captured in Bolivia last week and transferred to U.S. custody.
Live
Israel targets more Iran leaders as allies reject Trump's calls for help
Israel says it killed Iran's top security official Ali Larijani, as America's European allies reject Trump's demands for help in the Strait of Hormuz.
At least 23 dead in suspected suicide bombings in Nigeria, police say
At least 23 people were killed and more than 100 wounded in suspected suicide bombings in Maiduguri, Nigeria, police said. It was one of the deadliest attacks in the conflict-battered city in recent history.
Pakistani strike hits rehab hospital in Afghanistan, Taliban says
The Taliban in Afghanistan claim that a Pakistani military airstrike on a drug rehabilitation hospital in Kabul has killed over 400 people, but Pakistan alleges the site was a weapons depot.
Trump requests delay of China trip because of Iran war
President Trump was planning to visit China at the end of March.
Entertainment
More Entertainment
Kennedy Center votes to shut down ahead of Trump-backed renovation project
The Kennedy Center's board of directors has voted to shut down operations for two years following this summer's July 4 celebrations.
Stars walk Vanity Fair Oscar Party red carpet
Oscar winners Jessie Buckley, Michael B. Jordan and other celebrities appeared on the red carpet for the Vanity Fair party after the awards show. See some of the red carpet looks.
Did "Sinners" get snubbed at the Oscars?
The 2026 Academy Awards were held in Los Angeles on Sunday. Entertainment Tonight host Kevin Frazier breaks down the winners and the biggest upsets.
Oscars 2026 best dressed
CBS News contributor Lauren Sherman breaks down some of the best looks from the 2026 Oscars, where looks from Chanel and Dior dominated the red carpet.
Lizzo announces children's book
Grammy award-winner Lizzo exclusively announced on "CBS Mornings" her latest project, a children's book called "Little Lizzo Meets Sasha B. Flute." She spoke with Gayle King about her inspiration for the book and message for young readers.
Technology
More Technology
Technology
U.S. hospitals, insurers turn to AI for claims
A constant battle in the U.S. health care system is the fight between insurers and providers over the cost of medical procedures and who foots the bill. Both sides are turning to artificial intelligence to make their case. CBS News medical contributor Dr. Céline Gounder explains.
Solar farm development faces pushback
A community in Alabama is pushing back against a solar farm that would power an artificial intelligence data center in the state. CBS News reporter Kati Weis has more.
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.
Jury deliberates in social media trial
Jury deliberations are underway in a landmark social media trial about addiction claims. CBS News correspondent Carter Evans has the details.
3 teens took part in a weeklong experiment to curb screen time. It worked.
For one week, three New Jersey high schoolers agreed not to take their phones to bed, and to try different tools to reduce screen time.
Science
More Science
Discovery of 1949 whale recording could unlock mysteries of ocean
The song is that of a humpback whale and was recorded by scientists in March 1949 in Bermuda, researchers said.
Sea levels higher than thought due to "methodological blind spot," study says
A new study in the journal Nature says most sea level rise research may have underestimated coastal water heights by an average of 1 foot.
NASA announces major overhaul of Artemis moon program "to take down risk"
NASA Administrator Jared Isaacman announced significant changes to the agency's Artemis program, which aims to land on the moon in 2028.
What scientists will be looking for when government UFO files are released
Documents might help scientists shed light on unexplained phenomena and government secrets, experts said.
In a first, shark seen on camera in Antarctica waters, surprising researchers
A large shark was caught on camera for the first time in Antarctica's waters, surprising researchers. "There's a general rule of thumb that you don't get sharks in Antarctica," one said.
Crime
More Crime
Accused Latin American drug lord arrives in U.S. after years on the run
Sebastian Marset, who eluded police for years, was captured in Bolivia last week and transferred to U.S. custody.
Alleged pipe bomber argues charges should be tossed under Jan. 6 pardons
A man who was accused of planting pipe bombs outside the RNC and DNC on the eve of the Jan. 6 attack is arguing he is covered by President Trump's sweeping pardons of alleged Jan. 6 rioters.
Kouri Richins convicted of murdering husband
A jury on Monday found Kouri Richins, a Utah mom who wrote about grief, guilty of murder in the fatal poisoning of her husband. CBS News reporter Andres Gutierrez has more.
Kouri Richins, mom who wrote grief book, found guilty of murdering her husband
Jurors delivered their verdict Monday in the trial of Kouri Richins, a Utah mother accused of murdering her husband and later publishing a children's book about grief.
Suspect in California teen's 2019 disappearance rearrested, indicted in her killing
Authorities have made an arrest in the cold case disappearance of California teenager Victoria Marquina.
Space
More Space
Space
Bill Nye on going from Boeing to science guy
Bill Nye the Science Guy sits down with CBS News chief Washington correspondent Major Garrett to talk about his life and career.
NASA targets April 1 for moon mission launch
NASA's huge Space Launch System rocket has been repaired and is ready for rollout back to the launch pad next week.
1,300-pound NASA satellite to crash on Earth
Nearly 14 years after it was launched in 2012, NASA says a 1,300-pound satellite is expected to come crashing back to Earth on Wednesday. Most of it will burn up as it reenters the atmosphere, but NASA warns some debris could survive reentry.
1,300-pound NASA satellite re-enters Earth's atmosphere after 14 years in space
The Van Allen probe's mission was meant to last two years, but ended up going for nearly seven.
Why NASA is overhauling Artemis program
NASA has announced a major overhaul of its Artemis moon program amid ongoing safety concerns. CBS News space consultant Bill Harwood has more details.
Latest Galleries
More Latest Galleries
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.
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?
The life & near death of prizefighter Christy Salters-Martin
Christy Salters-Martin dominated in the boxing ring but faced her toughest challenger at home.
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
Judge blocks RFK Jr. child vaccine changes
A federal judge blocked the Trump administration from limiting the number of vaccines recommended for children. Medical societies challenged HHS Secretary Robert F. Kennedy Jr.'s order to drop six vaccines from the list of shots that children should have. CBS News medical contributor Dr. Celine Gounder explains what it means and what could happen next.
Israel says it killed 2 Iranian leaders
As air and missile attacks from both sides continue, Israel says it has killed two of Iran's senior leaders, including Ali Larijani, the head of Iran's Supreme National Security Council. Imtiaz Tyab has the latest.
U.S. allies' reaction over Strait of Hormuz
President Trump on Monday pressured allies and China for military assistance in reopening the Strait of Hormuz. The European Union and Australia turned down Mr. Trump's request while China and Japan were noncommittal. Nancy Cordes reports.
Weather, TSA staffing wreak havoc on travel
Roughly 9,000 flights were canceled and 25,000 delayed since Sunday as a winter storm slammed parts of the U.S. It comes amid a TSA staffing shortage, as employees work without pay through the partial government shutdown. Kris Van Cleave reports.
Eye Opener: Extreme weather impacts millions
Extreme weather is impacting millions of Americans from coast to coast, creating long lines at airports and a travel mess. Plus, Israel says it has killed two more Iranian leaders. All that and all that matters in today's Eye Opener.