Stocks crumble after Fed dashes hopes for easing up on rates
S&P 500 suffered its biggest drop in two months after Fed chair Jerome Powell said rates will remain high "for some time."
Jerome Powell
Powell says Fed could keep lifting rates "for some time"
While higher borrowing costs will hurt, failure to ease inflation "would mean far greater pain," Federal Reserve chief says.
Assessing the state of the U.S. economy
The Bureau of Economic Analysis reports the GDP fell 0.6% during the second quarter. Jeanna Smialek, a Federal Reserve and economy reporter for The New York Times, joins CBS News to discuss the decline and a highly anticipated speech by Fed Chairman Jerome Powell at the Kansas City Federal Reserve's Economic Policy Symposium.
Latest GDP figure eases concern about imminent U.S. recession
New government data shows economic growth shrank at a 0.6% annual rate in the second quarter — less than initially thought.
Stocks fall sharply amid renewed inflation fears
S&P 500 suffers its biggest drop since June as investors fret over the Fed's effort to tame inflation.
Fed saw evidence of a slowing economy at its last meeting
Despite sputtering U.S. economic growth, Federal Reserve hiked interest rates to ease "unacceptably high" inflation.
Markets react to July jobs report
July's jobs report surpassed many economists' expectations despite concerns of inflation. Frances Stacy, director of portfolio Ssrategy at Optimal Capital, joins CBS News to break down how the markets reacted to the latest employment figures.
Job openings slow in June
The Labor Department says job openings slowed in the month of June. CBS News' David Begnaud and Debra Alfarone speak with Mark Hamrick, senior economic analyst and Washington bureau chief for Bankrate, on the state of the economy and what to expect in Friday's July jobs report.
Overall health of the U.S. economy
The Dow Jones dropped Thursday following the release of the weekly jobless numbers and the Federal Reserve announcing a 0.5% interest rate hike as part of its ongoing effort to combat rising inflation. Frances Stacy, the director of portfolio strategy at Optimal Capital, joins CBS News to discuss the overall health of the U.S. economy.
Possibility of economic recession looms
The possibility of a recession is looming large, as the Federal Reserve raises interest rates in the hopes of driving down inflation. President Joe Biden's critics argue he's not doing enough to address the issue and say rate hikes could cause more economic turmoil. Rick Newman, senior columnist with Yahoo Finance, joined CBS News to discuss some ways to lower consumer costs and prevent an economic downturn.
MoneyWatch: Fed announces interest rate hike
The Federal Reserve announced a 0.25% interest rate hike -- the first increase since 2018. The Wall Street Journal's chief economics correspondent Nick Timiraos, author of "Trillion Dollar Triage: How Jay Powell and the Fed Battled a President and a Pandemic and Prevented Economic Disaster," joins CBS News to explain what this means for American consumers.
Markets react to Fed interest rate hike
The Federal Reserve on Wednesday announced its largest interest rate hike since 1994, in an effort to combat historic inflation. Matthew Luzzetti, a senior economist at Deutsche Bank, joins CBS News to discuss how the move is impacting the stock market.
Tips for Americans with recession concerns
President Biden is meeting Tuesday with Federal Reserve Chair Jerome Powell. The president says the Fed has the primary responsibility to control inflation and he will refrain from meddling in its process. Washington Post economic columnist Heather Long discusses what this could entail and how Americans worried about a possible recession can prepare.
Powell and Yellen testify on inflation, debt ceiling
Federal Reserve Chair Jerome Powell and Treasury Secretary Janet Yellen testified before the Senate banking committee Tuesday. They addressed top economic concerns including rising inflation and the approaching deadline to raise the debt ceiling. CBS News reporter Sarah Ewall-Wice joins CBSN's "Red & Blue" with more.
Experts struggle to predict job gains
The pandemic has made it even more difficult for experts to predict job growth. Josh Mitchell, a staff reporter with the Wall Street Journal, joins Elaine Quijano on CBSN's "Red & Blue" to explain why.
White House options to address gun violence
What possible actions are on the table for President Biden to address gun violence? CBS News chief White House correspondent Nancy Cordes joins "Red & Blue" to discuss this, plus rising inflation and record-high gas prices.
Fed raises interest rates again
For the fourth time this year, the Federal Reserve has raised its benchmark interest rate in a bid to slow record-high inflation. Megan Cassella, a reporter for Barron's, joined CBS News' Lana Zak to discuss.
Federal Reserve announces interest rate hike
The Federal Reserve, as expected, announced it is raising interest rates by three-quarters of a percentage point to help tamp down inflation. CBS News' Tanya Rivero and Christina Ruffini get analysis of the economic and political impact from Ted Rossman, senior industry analyst at Bankrate.com; CBS News political correspondent Caitlin Huey-Burns; and Michelle Singletary, Washington Post personal finance columnist.
Federal Reserve hikes key interest rate by another 75 basis points
The rise in the federal funds rate, which is what banks charge each other for overnight loans, comes as several significant pieces of economic data are released this week.
Federal Reserve to hike interest rates
Economists and investors are bracing for another aggressive rate hike from the Federal Reserve today. The expected move would mark the fourth rate increase this year. Frances Stacy, the director of portfolio strategy for Optimal Capital, joins CBS News' Tanya Rivero and Christina Ruffini to discuss the central bank's upcoming meeting and its significance.
Fed to announce interest rate decision
The Federal Reserve is expected to announce the fourth interest rate increase of the year. They're hoping to curb inflation and prevent a recession. CBS News reporter Sarah Ewall-Wice joined Vladimir Duthiers and Jericka Duncan with a closer look at how another rate hike might impact American consumers.
Fed says sharply higher interest rates may be needed
Fed officials were concerned at last month's meeting that consumers were starting to expect higher inflation in a self-perpetuating cycle.
Stocks fall as report reveals pullback in consumer spending
Investors are uneasy as signs point to possible recession caused by Fed interest rates hikes.
The Chairman, ACLU, Genetic Revolution
Fed Chair Jerome Powell is asked if the Fed is done raising interest rates and whether or not he thinks President Trump can fire him; then, the ACLU's surprising new political strategy, modeled in part after the NRA; and, could gene therapy cure sickle cell anemia?
Stocks fall as inflation fears continue to grip investors
"Confidence is going to continue to shrink as long as inflation remains high," said one analyst.
Trump warns U.S. "will take very strong action" if Iran hangs protesters
"We don't want to see what's happening in Iran happen," President Trump said in an exclusive interview airing Tuesday on "CBS Evening News."
Device that may be tied to "Havana Syndrome" obtained by U.S. government
The device was purchased by the Biden administration and cost millions, two sources said.
6 Minnesota federal prosecutors resign amid Renee Good investigation pressures
At least six career prosecutors in the Minneapolis U.S. Attorney's office have resigned as the office continues to face pressure to treat the investigation of the fatal shooting of a Minneapolis woman by an ICE officer as an assault on a federal officer case.
Over 12,000 feared dead after Iran's crackdown on protesters
Information trickling out of Iran suggests a far deadlier crackdown on protesters than previously reported.
Trump on Iran, Renee Good, Jerome Powell and his own morality
Here are the major takeaways from President Trump's interview with "CBS Evening News" anchor Tony Dokoupil on Iran, Renee Good, the Federal Reserve and more.
Trump says Renee Good likely a "solid, wonderful person" under "normal circumstances"
President Trump told CBS News he believes the woman killed by an ICE agent in Minneapolis, was likely a "very, solid wonderful person," but her actions before she was killed were "pretty tough."
White House defends Trump after he appeared to flip off heckler
The White House defended a video that appeared to show President Trump flipping off a person who yelled at him while touring a Ford factory in Michigan on Tuesday.
Saks Global, century-old high-end department store chain, files for bankruptcy
The venerable retailer is seeking protection from its creditors after $2.65 billion purchase of Nieman Marcus failed to spark growth.
Their 21 kids were taken by the state. They've since had more surrogate-born babies.
The couple had so many kids in their Los Angeles-area mansion a neighbor "thought it was a kindergarten." The investigation has only gotten stranger.
U.S.
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Saks Global, century-old high-end department store chain, files for bankruptcy
The venerable retailer is seeking protection from its creditors after its $2.65 billion purchase of Nieman Marcus failed to spark growth.
Lindsey Halligan argues she should still be U.S. attorney, accuses judge of abuse of power
Judge David Novak had given Lindsey Halligan a week to explain why she is using the title of U.S. attorney after another federal judge found her appointment to the position invalid.
GM CEO Mary Barra on electric vehicles, tariffs and competing with China
General Motors CEO Mary Barra said the Trump administration's tariffs caused a "few-billion-dollar impact," but also praised them for "leveling the playing field."
Read the full transcript of Tony Dokoupil's interview with President Trump here
President Trump shared a warning for Iran, called Jerome Powell a "lousy Fed chairman" and defended the ICE agent who killed Renee Good in Minneapolis. Read the full transcript of their conversation.
Trump: Jerome Powell has "been a lousy Fed chairman"
President Trump brushed off a question about whether the Justice Department probe amounts to political retribution.
MoneyWatch
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Saks Global, century-old high-end department store chain, files for bankruptcy
The venerable retailer is seeking protection from its creditors after its $2.65 billion purchase of Nieman Marcus failed to spark growth.
GM CEO Mary Barra on electric vehicles, tariffs and competing with China
General Motors CEO Mary Barra said the Trump administration's tariffs caused a "few-billion-dollar impact," but also praised them for "leveling the playing field."
Trump: Jerome Powell has "been a lousy Fed chairman"
President Trump brushed off a question about whether the Justice Department probe amounts to political retribution.
Looking to kickstart your career? These are the best jobs for 2026.
Focusing on these sectors could give your job search a boost, according to a new ranking of the best jobs for 2026.
ACA enrollment sinks sharply as coverage costs soar in 2026
Roughly 1.4 million fewer Americans have signed up for an Affordable Care Act plan as expiring tax breaks drive up premiums.
Politics
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Lindsey Halligan argues she should still be U.S. attorney, accuses judge of abuse of power
Judge David Novak had given Lindsey Halligan a week to explain why she is using the title of U.S. attorney after another federal judge found her appointment to the position invalid.
Trump on Iran, Renee Good, Jerome Powell and his own morality
Here are the major takeaways from President Trump's interview with "CBS Evening News" anchor Tony Dokoupil on Iran, Renee Good, the Federal Reserve and more.
White House defends Trump after he appeared to flip off heckler
The White House defended a video that appeared to show President Trump flipping off a person who yelled at him while touring a Ford factory in Michigan on Tuesday.
Device that may be tied to "Havana Syndrome" obtained by U.S. government
The device was purchased by the Biden administration and cost millions, two sources said.
Read the full transcript of Tony Dokoupil's interview with President Trump here
President Trump shared a warning for Iran, called Jerome Powell a "lousy Fed chairman" and defended the ICE agent who killed Renee Good in Minneapolis. Read the full transcript of their conversation.
HealthWatch
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ACA enrollment sinks sharply as coverage costs soar in 2026
Roughly 1.4 million fewer Americans have signed up for an Affordable Care Act plan as expiring tax breaks drive up premiums.
Nurses strike begins in New York City as thousands walk off jobs
The largest nurses strike ever in New York City is underway as thousands of NYSNA members walk off their jobs at major hospitals.
RFK Jr.'s MAHA movement has picked up steam in statehouses
"Make America Healthy Again" policies driven by HHS Secretary Robert F. Kennedy Jr. have made major strides in state legislatures, with food additives among the most common targets.
"Enough": Oprah Winfrey on her weight-loss lessons
Oprah Winfrey is one of the best-known, most-admired and successful people on the planet. But for years she seemed powerless to conquer her fluctuating weight problem … until new medications, and a new attitude about her weight, gave her a breakthrough, which she describes in "Enough," a new book she has co-written with Dr. Ania Jastreboff. They talk with Jane Pauley about an individual's genetically-influenced weight range, and how to reset it. Winfrey also relates the long road she traveled since she began her TV career in Nashville, facing sexism, racism, and comments about her weight.
NYC nurses strike looms as negotiations pass midnight deadline
The potential for a major nurses strike in New York City is growing by the minute, with major hospitals and the New York State Nurses Association failing to get a deal done before Sunday's midnight deadline.
World
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Crane falls onto moving passenger train in Thailand, killing at least 22
A construction crane fell onto a moving passenger train, causing a fiery derailment that killed at least 22 people and injuring dozens more in northeastern Thailand.
Device that may be tied to "Havana Syndrome" obtained by U.S. government
The device was purchased by the Biden administration and cost millions, two sources said.
Rampaging elephant kills 20 people, including children, in India
Children and the elderly are among the dead, as well as a professional elephant handler, officials said.
Greenland's prime minister says "we choose Denmark" over the U.S.
The comments come ahead of Wednesday's meeting between the foreign ministers of Greenland and Denmark, Vice President JD Vance and Secretary of State Marco Rubio.
Over 12,000 feared dead after Iran's crackdown on protesters
Information trickling out of Iran suggests a far deadlier crackdown on protesters than previously reported.
Entertainment
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Actor Timothy Busfield turns himself in following child sex abuse allegations
In a video provided to TMZ on Tuesday, Timothy Busfield said the allegations "are all lies."
François Arnaud on "Heated Rivalry" series
Francois Arnaud joins "CBS Mornings" to talk about the popular series "Heated Rivalry," based on the "Game Changers" book series. It follows rising hockey stars Shane Hollander and Ilya Rozanov. What begins as a fling between two rivals turns into a yearslong journey of love, denial and self discovery. Arnaud plays Scott Hunter, a closeted gay professional hockey player in the same league who has fallen in love with a smoothie shop worker. He talks about the message in the series and how it developed into a hit show.
Scott Adams, "Dilbert" comic strip creator, dies at age 68
Scott Adams, the cartoonist who created the "Dilbert" comic strip, has died at the age of 68, his first ex-wife revealed on Tuesday.
Behind-the-scenes at the Golden Globes
Celebrities brought glitz and glamor to the red carpet Sunday at the Golden Globes. "CBS Mornings" co-host Gayle King spoke with some of Hollywood's biggest stars and gives a behind-the-scenes look at the awards night.
NAACP Image Awards nominations
The NAACP Image Awards celebrate the outstanding achievements and performances of people of color in arts and entertainment. Comedian and actor Deon Cole and NAACP President and CEO Derrick Johnson exclusively reveal some of the nominees on CBS Mornings for this year's awards.
Technology
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Woman says AI chatbot Grok generated sexual deepfake images of her
Ashley St. Clair, the mother of one of Elon Musk's children, alleges Grok generated and published sexual deepfake images of her without permission.
Mother speaks out over AI chatbot Grok
Elon Musk's AI chatbot Grok is facing intense criticism, accused of allowing X users to generate sexually explicit images of real women and children. One of the alleged victims is Ashley St. Clair, the mother of one of Musk's children. She said she discovered people used Grok to generate and publish sexualized deepfake images without her permission and share them on X. Musk has not responded to a request for comment.
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.
British regulators on Grok AI images
British regulators are investigating X for lewd AI images generated by Grok, the AI arm of Elon Musk's social platform. Michael Goodyear, an associate professor at New York Law School, joins CBS News with more.
Pentagon adopting Musk's Grok AI despite growing backlash against it
Defense Secretary Pete Hegseth says the Pentagon will start using Elon Musk's AI chatbot Grok. The word comes days after Grok drew global outcry for generating highly sexualized deepfake images.
Science
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Fossils found in cave shed light on where our species emerged
Fossilized bones and teeth dating to 773,000 years ago are providing a deeper understanding of the emergence of Homo sapiens.
The history and mystery of kissing
If you rang in the new year with a kiss, you took part in a tradition millions of years in the making. Scientists now say the origins of kissing go back much farther than most think. CBS News' Tina Kraus has more.
2025 was so hot it pushed Earth past critical climate change mark
2025 was the third hottest year on record and pushed Earth past a critical climate change mark, scientists say.
Major climate research center on Trump administration chopping block
The Trump administration intends to dismantle one of the world's leading climate research institutions, in Boulder, Colorado, over what it said were concerns about "climate alarmism."
Researchers capture video of rare polar bear adoption
The footage of a bear caring for an adopted cub was captured during the annual polar bear migration along the Western Hudson Bay in Churchill, Manitoba.
Crime
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Crime
Uvalde teacher's emotional testimony in trial
Tuesday marked Day 5 in the trial of former Uvalde CISD police officer Adrian Gonzales over his response to the 2022 mass shooting at Robb Elementary. CBS News reporter Karen Hua has the latest.
Actor Timothy Busfield turns himself in following child sex abuse allegations
In a video provided to TMZ on Tuesday, Timothy Busfield said the allegations "are all lies."
Trump posts about Minnesota ICE raids
President Trump posted on social media about the expanding Minnesota ICE raids and promised a day of "RECKONING & RETRIBUTION" is coming. CBS News' Lana Zak reports.
Minnesota takes on Trump administration
The state of Minnesota, and the cities of Minneapolis and St. Paul, are suing the Department of Homeland Security and several Trump administration officials over the massive operations involving federal law enforcement. CBS News' Lana Zak has more.
Man admits to starting fire at synagogue
Investigators say Stephen Spencer Pittman admitted to starting a fire at Mississippi's largest synagogue. Newly obtained video shows a man dousing Jackson's Beth Israel Congregation with liquid from a gas container. Jason Allen reports.
Space
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Space
ISS astronauts prepare for early return
Crew-11 is preparing for an unprecedented early return to Earth over concerns for an astronaut's medical condition aboard the International Space Station. Mike Massimino, a former NASA astronaut and engineering professor at Columbia University, joins with more.
Former astronaut on ISS crew coming home early
Four members of Crew-11 are preparing to return to Earth from the International Space Station later this week after a "medical concern" prompted NASA to cancel a scheduled spacewalk. Former astronaut Dr. Scott Parazynski joins with his reaction.
Space station changes command, setting stage for Crew 11 departure
Outgoing space station commander Mike Fincke, a member of the returning Crew 11, turned the station over to cosmonaut Sergey Kud-Sverchkov, saying the combined crew had developed deep friendships.
Astronaut says early return to Earth is "right call," but "bittersweet"
Mike Fincke thanked NASA for making crew health the agency's top priority.
NASA hopes to return Crew 11 to Earth next week over medical issue
NASA officials reported Thursday that an unidentified member of Crew 11 was dealing with "a medical situation" that would require the crew to return to Earth sooner than anticipated.
Latest Galleries
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Notable Deaths in 2025
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
Uvalde teacher's emotional testimony in trial
Tuesday marked Day 5 in the trial of former Uvalde CISD police officer Adrian Gonzales over his response to the 2022 mass shooting at Robb Elementary. CBS News reporter Karen Hua has the latest.
Tony Dokoupil's final thoughts from Detroit
"CBS Evening News" anchor Tony Dokoupil shares his final thoughts after interviewing President Trump and General Motors CEO Mary Barra in Detroit.
GM CEO on electric vehicles' future, tariff impact
In an interview with "CBS Evening News" anchor Tony Dokoupil, General Motors CEO Mary Barra discusses tariffs, electric vehicles and the outlook ahead for the automaker.
Extended interview: GM CEO Mary Barra
Mary Barra, the CEO of General Motors since 2014, speaks with CBS Evening News anchor Tony Dokoupil about the future of electric vehicles amid slowing U.S. sales, affordability, manufacturing shifts and more.
Cancer survival at historic high: report
A new report found that the number of people surviving cancer is at a historic high. The new findings published by the American Cancer Society found that the five-year-survival rate for all cancers has reached 70% for the first time. That's up from just half in the mid 1970s. CBS News chief medical correspondent Dr. Jon LaPook breaks it down.