Dow soars 1,000 points on better-than-expected inflation report
Investors cheered after U.S. consumer prices fell last month more than Wall Street expected.
Jerome Powell
Fed raises rates by three-quarters of a point
The Federal Reserve has taken the aggressive step of raising interest rates by another three-quarters of a percentage point. Jeff Taylor, board member at the Mortgage Bankers Association, and CBS News reporter Sarah Ewall-Wice join anchors Errol Barnett and Lana Zak to discuss what this means for the economy.
Federal Reserve to raise interest rates
The Federal Reserve is widely expected to raise interest rates by three-fourths of a percentage point. Lori Bettinger, president of BancAlliance and former director of the Troubled Asset Relief Program, joins CBS News' Errol Barnett and Lana Zak on how this will impact consumers.
Investors react to Fed's rate hike
Markets turned volatile after the Federal Reserve announced it would increase interest rates by three-quarters of a percentage point. CBS News' Errol Barnett and Lana Zak speak with Edward Moya, senior market analyst for Oanda, about what today's action could signal for the markets and the economy.
Stocks plummet after Fed signals more rate hikes ahead
"Hawkish" policy statement from Fed leads investors to abandon hope of easing rate increases.
Investors brace for likely interest-rate hike
Investors are bracing for the Federal Reserve to likely announce another aggressive interest-rate hike Wednesday. CBS News' Lana Zak spoke with John Leer, chief economist at Morning Consult, about the Fed's expected decision.
Job openings post surprise jump, putting pressure on Fed
Economists had expected the number of job openings to drop below 10 million for the first time since June 2021.
Key inflation measure shows prices still high
A key inflation measure from the Commerce Department shows prices still high ahead of the Fed's interest rate meeting next week. Ellis Phifer, managing director of fixed income research at Raymond James, joins CBS News' Tanya Rivero and Elaine Quijano to discuss the economy and issues driving the markets.
Consumer confidence falls in October
Consumer confidence fell in October after rising in both August and September. CBS News' Lana Zak and Lilia Luciano speak with Dory Wiley, president and CEO at Commerce Street Holdings, LLC, about what's driving the trend and whether it could impact the Federal Reserve's thinking on interest rates.
MoneyWatch: U.S. stocks sink as inflation fears mount
The stock market's tumble has put the S and P 500 into a bear market. CBS News correspondent Elaine Quijano reports on Wall Street's drop on Monday. Then, Akiko Fujita, a reporter and anchor for Yahoo Finance, joins Errol Barnett on CBS News to discuss the latest on the markets.
MoneyWatch: Job market, Peleton layoffs
219,000 Americans filed for unemployment benefits this week, but layoffs remain historically low. Meanwhile, Peloton announced another round of layoffs as the company struggles to grow. CBS News' Lana Zak and Errol Barnett speak with John Leer, chief economist at Morning Consult, on what all this says about the economy and the labor market.
Stocks rally as job openings tighten
Investors are hoping the Fed may ease up on interest rate hikes following recent economic reports. Meanwhile, Elon Musk may once again be open to buying Twitter. CBS News' Lana Zak and Lilia Luciano spoke with Rod von Lipsey, managing director at UBS Private Wealth Management, about the day's business headlines.
U.S. job openings sink in August, suggesting hiring pullback
Sharp drop in job openings will be welcomed by Fed Reserve as it pushes to raise unemployment to cool inflation.
Dow hits bear market territory during trading
The Dow Jones Industrial Average entered bear market territory during intraday trading Friday as investors fear a possible recession. Nancy Davis, founder and chief investment officer at Quadratic Capital Management, reacted to the steep market drop.
Stocks plunge, dragging Wall Street toward another down week
Dow hits 2022 low as markets sell off on recession fears as central banks around the world jack up interest rates.
Central banks raise interest rates
Central banks around the world are risking recession and raising interest rates. They're following the lead of the U.S. Federal Reserve, which approved its third consecutive 75 basis-point hike Wednesday in the hopes of cooling inflation rates. Reuters Federal Reserve correspondent Howard Schneider joined CBS News to discuss the global impact.
Fed rate hike raises recession fears
The Federal Reserve's decision to raise interest rates yet again has renewed recession concerns on Wall Street. Chris Campbell, chief policy strategist at the Kroll Institute, reacted to the Fed's decision and how it will impact Americans.
Impact of Federal Reserve rate hike
The Federal Reserve raised interest rates again by three-quarters of a percentage point. Lori Bettinger, the president of BancAlliance and former director of the U.S. Treasury Department's troubled asset relief program, explains what the latest increases mean for consumers.
How will interest rate hike affect Americans?
The Federal Reserve raised interest rates for a third consecutive time with Chair Jerome Powell saying there could be more aggressive hikes in the future to combat inflation. Economist Joe Brusuelas joined "CBS News Mornings" with the latest.
Fed hikes key interest rate yet again
The Federal Reserve approved a third consecutive 0.75 percentage point hike to its benchmark interest rate Wednesday in an effort to tackle record inflation. Jeanna Smialek, a Federal Reserve and economy reporter for The New York Times, joined John Dickerson to discuss the impact of the interest rate hikes on the U.S. economy.
Stock market reacts to Fed interest rate hike
Stocks fell sharply Wednesday when the Federal Reserve announced it was raising interest rates again another 75 basis points. Liz Young, head of investment strategy at SoFi, joined CBS News to discuss what the Fed's announcement means for the future of the U.S. economy.
Central bank expected to hike interest rates
The Federal Reserve is expected to announce interest rate hikes to combat high inflation. John Leer, chief economist at Morning Consult, joins "CBS News Mornings" to explain when and where people will notice the impacts of another rate hike.
Stocks tumble on Wall Street as Fed escalates inflation fight
Fed raised key interest rate by three-quarters of a percentage point and signaled it plans to keep rates higher longer.
Fed hikes key interest rate another 0.75 percentage point
Borrowing costs rose to their highest level in 14 years, and more interest-rate hikes are likely, Fed signaled.
Fed expected to raise interest rates again
The Federal Reserve is expected to raise interest rates for a fifth time Wednesday as part of ongoing efforts to curb inflation. Thomas Hogan, a senior fellow at the American Institute for Economic Research, joined CBS News to discuss the immediate and long-term impacts of the increase.
Exclusive
U.S. service members in Kuwait suffered brain trauma, burns, shrapnel wounds
About 30 U.S. service members remained hospitalized Tuesday after an Iranian drone strike in Kuwait.
Live
Trump vows to end war "soon" as Iran hits ships and threatens banks
Trump says he'll end the war soon, when he wants to, as Iran hits 3 ships near the Strait of Hormuz and warns U.S.-linked banks will be next.
NYPD cop who chased down bomb suspect had just one thought: "Catch the bad guy"
NYPD Chief Aaron Edwards hopped a metal barrier to chase down a suspect accused of throwing IEDs during clashing protests outside Gracie Mansion.
Trump releasing 172 million barrels of oil from reserve as prices soar amid Iran war
President Trump ordered the release of 172 million barrels of oil from the U.S.'s Strategic Petroleum Reserve on Wednesday, after oil prices rocketed to their highest levels in years amid the U.S.'s war with Iran.
Epstein's longtime accountant tells Congress he didn't know about abuse
Richard Kahn was one of Epstein's closest associates in his final years, managing his finances and investments.
Trump administration takes steps to impose new tariffs
The Supreme Court ruled in February that the president lacks the authority to impose unilateral tariffs using an emergency powers law.
3 brothers arrested in connection with U.S. embassy explosion in Norway
The men were Norwegian citizens of Iraqi origin who were not previously known to police, police prosecutor Christian Hatlo said.
Democratic Sen. John Fetterman says war with Iran has been "effective"
"I think, overall, what's accomplished is remarkable," Sen. John Fetterman told CBS News chief White House correspondent Major Garrett in an interview Wednesday.
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.
U.S.
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NYPD cop who chased down bomb suspect had just one thought: "Catch the bad guy"
NYPD Chief Aaron Edwards hopped a metal barrier to chase down a suspect accused of throwing IEDs during clashing protests outside Gracie Mansion.
Fetterman calls Trump's criticism of mail-in voting "ridiculous"
"The president is constantly critical on mail-in voting, and that's ridiculous," Democratic Sen. John Fetterman said Wednesday.
Trump releasing 172 million barrels of oil from reserve as prices soar amid Iran war
President Trump ordered the release of 172 million barrels of oil from the U.S.'s Strategic Petroleum Reserve on Wednesday, after oil prices rocketed to their highest levels in years amid the U.S.'s war with Iran.
Officials downplay risk of Iranian drone attacks off California after FBI memo
FBI memo warning that Iran may try to launch drones at California in a seaborne "surprise attack" raised concern Wednesday — but officials tell CBS News there is no known, specific threat underpinning it.
Trump administration takes steps to impose new tariffs
The Supreme Court ruled in February that the president lacks the authority to impose unilateral tariffs using an emergency powers law.
MoneyWatch
More MoneyWatch
Trump releasing 172 million barrels of oil from reserve as prices soar amid Iran war
President Trump ordered the release of 172 million barrels of oil from the U.S.'s Strategic Petroleum Reserve on Wednesday, after oil prices rocketed to their highest levels in years amid the U.S.'s war with Iran.
FTC to refund more than $47 million to consumers allegedly deceived by Invitation Homes
A 2024 government lawsuit accused Invitation Homes of deceiving renters about lease costs, charging undisclosed junk fees and other unlawful practices.
What is XMoney, Elon Musk's new digital payments platform?
Elon Musk said his long-planned payments platform, dubbed XMoney, is set to launch for select users. Here's what to know.
Howard Schultz leaves Seattle as local lawmakers mull millionaire tax
Howard Schultz said he and his wife will move to Florida as Washington weighs a roughly 10% annual tax on earnings over $1 million.
IEA to release 400 million barrels of oil in move to lower energy prices
The emergency oil release — the largest in the multinational organization's history — could help ease oil prices in the short term, according to analysts.
Politics
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Fetterman calls Trump's criticism of mail-in voting "ridiculous"
"The president is constantly critical on mail-in voting, and that's ridiculous," Democratic Sen. John Fetterman said Wednesday.
Trump releasing 172 million barrels of oil from reserve as prices soar amid Iran war
President Trump ordered the release of 172 million barrels of oil from the U.S.'s Strategic Petroleum Reserve on Wednesday, after oil prices rocketed to their highest levels in years amid the U.S.'s war with Iran.
Officials downplay risk of Iranian drone attacks off California after FBI memo
FBI memo warning that Iran may try to launch drones at California in a seaborne "surprise attack" raised concern Wednesday — but officials tell CBS News there is no known, specific threat underpinning it.
Trump administration takes steps to impose new tariffs
The Supreme Court ruled in February that the president lacks the authority to impose unilateral tariffs using an emergency powers law.
Democratic Sen. John Fetterman says war with Iran has been "effective"
"I think, overall, what's accomplished is remarkable," Sen. John Fetterman told CBS News chief White House correspondent Major Garrett in an interview Wednesday.
HealthWatch
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"I was fighting to survive": Patients still struggle with preauthorization hurdles
Last summer, the Trump administration announced a voluntary pledge by health insurers to reform prior authorization, but patient advocates and medical providers remain skeptical.
Investigation
There's one building in LA with 89 registered hospices: "Ground zero" for fraud?
A CBS News analysis of records for every hospice operating in Los Angeles County finds indications of fraud are growing.
Raw oysters and clams recalled in 9 states over norovirus risks
Food containing norovirus may smell and taste normal but still cause serious illness if consumed, FDA warns.
More kids are in ERs for tooth pain. Budget cuts and fluoride fights aren't helping.
Dentists, hygienists, and researchers say a shortage of rural dental care professionals and worsening oral hygiene since the COVID-19 pandemic mean more kids are ending up in the emergency room for tooth decay.
Baby sleepsuit sold at Walmart recalled over potential choking hazard
The zipper head on the recalled HALO Magic Sleepsuits poses a danger to babies, according to the U.S. Consumer Product Safety Commission.
World
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3 brothers arrested in connection with U.S. embassy explosion in Norway
The men were Norwegian citizens of Iraqi origin who were not previously known to police, police prosecutor Christian Hatlo said.
550-pound WWII bomb defused after thousands evacuated
The discovery caused officials to evacuate 18,000 people on Wednesday, the largest such operation ever in the city, emergency services said.
Exclusive
U.S. service members in Kuwait suffered brain trauma, burns, shrapnel wounds
About 30 U.S. service members remained hospitalized Tuesday after an Iranian drone strike in Kuwait.
IEA to release 400 million barrels of oil in move to lower energy prices
The emergency oil release — the largest in the multinational organization's history — could help ease oil prices in the short term, according to analysts.
Live
Trump vows to end war "soon" as Iran hits ships and threatens banks
President Trump says he'll end the war soon, when he wants to, as Iran hits three ships near the Strait of Hormuz and warns U.S.-linked banks will be next.
Entertainment
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Entertainment
"Sinners" cinematographer on crafting scenes
Oscar-nominated "Sinners" cinematographer Autumn Durald Arkapaw watches scenes from the film with Anthony Mason and breaks down how some of its most memorable moments were created. She also shares how her collaboration with director Ryan Coogler helped define the film's look.
Flavor Flav celebrates women athletes
Pop culture icon Flava Flav stopped by "CBS Mornings" to discuss his plans to celebrate women Olympic and Paralympic medalists from the 2026 Winter Games.
Kurt Russell talks drama series "The Madison"
Kurt Russell, who stars in "The Madison," spoke to "CBS Mornings" about the series, explaining the script "was so familiar" and that he related to it. Russell praised creator Taylor Sheridan, who was also behind the popular series "Yellowstone," and discussed what it was like to work with Michelle Pfeiffer again decades later.
Oscars 2026: Behind the scenes with the best actor nominees
Watch scenes from the performances nominated for best actor at the 98th annual Academy Awards, as well as interviews with the nominees.
Dorrance on preserving tap dancing history
American tap dancer Michelle Dorrance talks to CBS News chief medical correspondent Jon LaPook about Brenda Bufalino's impact and preserving the 88-year-old's artistry for future generations in a project at the New York Public Library for the Performing Arts.
Technology
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Technology
Memory chip shortage could raise tech prices
An explosion in artificial intelligence data centers and cloud computing is shrinking the supply of memory chips, which is having a major impact on the price consumers pay for everyday tech. CNET editor-in-chief David Katzmaier joins CBS News to discuss.
What is XMoney, Elon Musk's new digital payments platform?
Elon Musk said his long-planned payments platform, dubbed XMoney, is set to launch for select users. Here's what to know.
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.
How Hollywood is grappling with AI
AI-generated artist Tilly Norwood and the company behind her released a new music video speaking directly to her critics. As AI evolves, Hollywood faces questions over legal protections, copyright infringement and human labor. Jo Ling Kent reports.
Details on Pentagon removal of Claude
CBS News exclusively obtained a Pentagon memo from earlier this month that went out to several senior defense leaders and commanders. It ordered the removal of Anthropic's AI technology from key national systems. Jo Ling Kent reports.
Science
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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.
How Washington's crossing of the Delaware presaged a changing world
On the evening of Christmas 1776, Gen. George Washington surprised the King's forces by leading the Continental Army in a surprise crossing of a near-frozen Delaware River - a watershed military maneuver that dramatized a changing America, and a changing climate.
Crime
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NYPD cop who chased down bomb suspect had just one thought: "Catch the bad guy"
NYPD Chief Aaron Edwards hopped a metal barrier to chase down a suspect accused of throwing IEDs during clashing protests outside Gracie Mansion.
Officials downplay risk of attacks off West Coast
Officials are downplaying the risk of Iranian drone attacks against California after an FBI memo said the regime "allegedly aspired" to target the Golden State. CBS News homeland security correspondent Nicole Sganga reports. Then, former FBI Special Agent Jeff Harp joins with analysis.
NYPD officers on response to terror incident
A picture of an NYPD chief responding to the terror incident outside Mayor Zohran Mamdani's residence last week has gone viral. CBS News' Anna Schecter has more about what happened that day.
New details in Georgia teacher's death
The family of a Georgia student charged in what investigators describe as a prank gone horribly wrong says they are grieving the tremendous loss to the community. CBS News correspondent Elaine Quijano has the latest.
Man crashes car into barrier near White House
Police in Washington, D.C., arrested a man after he crashed a car into a barricade near the White House on Wednesday morning. CBS News homeland security correspondent Nicole Sganga reports.
Space
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Space
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.
How NASA plans to get astronauts on the moon
NASA announced an overhaul to its Artemis moon program as safety concerns persist. CBS News space contributor Christian Davenport breaks down the key takeaways.
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.
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.
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
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Latest CBS News Videos
Fetterman opens up about depression battle
Sen. John Fetterman of Pennsylvania opened up about his battle with depression and credited his three children for saving him from his suicidal thoughts. "What broke me out of it was my own kids, and everyone needs that kind of an emergency brake," Fetterman told Major Garrett on "The Takeout."
What we know about FBI memo on drone risk
An FBI memo warning that Iran may try to launch drones at California in a seaborne "surprise attack" is raising concerns, but how serious is the threat? Nicole Sganga explains.
3/11: The Takeout with Major Garrett
Trump says there's "practically nothing left" to target on Day 12 of war in Iran; legislative blockade threatened over SAVE Act.
Lost dog returned to family two years later
Two years after a Dallas family's dog disappeared, she was found 1,300 miles away in New Jersey. Tony Dokoupil has the story of how made her way back home.
Hero NYPD cops on chasing down bomb suspect
Chief Aaron Edwards and Sgt. Luis Navarro of the NYPD are being hailed as heroes for the response to an attempted bomb attack during protests outside the New York City mayor's residence. Jericka Duncan talked with the officers about what was going through their minds as they sprang into action.