Stocks fall amid fears of rate hikes
Wall Street ended the week with its worst day in months. The Dow Jones fell more than 1,000 points with all three major indexes off more than 3%. Nikki Battiste reports.
Jerome Powell
Powell warns fighting inflation could bring “pain”
Federal Reserve Chair Jerome Powell signaled the Fed will likely continue raising interest rates to combat inflation. Yahoo Finance columnist Rick Newman reacts to Powell’s comments and explains how investors will likely react.
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."
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.
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Ross Fire still burning, with over 90,000 acres scorched
The wildfire, which has torn through Palo Pinto and Jack counties, has forced evacuations, closed roads and disrupted schools.
Missouri House candidate accused of conspiring to plant cocaine on opponent
Thomas Ross allegedly tried to get his campaign manager to plant cocaine and Adderall on his opponent, federal prosecutors in Missouri said.
Election officials raise alarm over mail voting rules: "Virtually impossible"
One official in California said that scanning individual ballots for every voter in the state would take roughly 43 years based on the Postal Service's estimates.
Gas prices surge just before Labor Day, as diesel nears record high
"Diesel is just a couple of ticks away from hitting a new record," one energy expert said. "That will happen."
DOJ reviving dormant prize law to try to claim Iranian oil tankers
The Justice Department is planning to try to use a legal regime last used during the Spanish-American War to speed up the seizure of ships and their cargo during the Iran conflict.
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Gas prices surge just before Labor Day, as diesel nears record high
"Diesel is just a couple of ticks away from hitting a new record," one energy expert said. "That will happen."
The Social Security Administration overpaid her. Now she owes $35,000.
The agency told a woman that she has 30 days to pay it back. Otherwise, it would cut her benefits by 50% while it collects what it overpaid.
Chocolate eyeball candy sold at Marshalls, TJ Maxx recalled
The recalled candy, sold under the brand "Crystal Temptations," was distributed in 13 states.
U.S. layoffs in August fell to their lowest level in 4 years
Job cuts around the U.S. have declined this year even amid signs that hiring is weakening.
Good Good Golf CEO resigns after furor over Callaway ad
The top two executives at digital marketing company Good Good Golf are leaving after a controversial ad was panned as sexist.
Politics
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Missouri House candidate accused of conspiring to plant cocaine on opponent
Thomas Ross allegedly tried to get his campaign manager to plant cocaine and Adderall on his opponent, federal prosecutors in Missouri said.
Election officials raise alarm over mail voting rules: "Virtually impossible"
One official in California said that scanning individual ballots for every voter in the state would take roughly 43 years based on the Postal Service's estimates.
DOJ reviving dormant prize law to try to claim Iranian oil tankers
The Justice Department is planning to try to use a legal regime last used during the Spanish-American War to speed up the seizure of ships and their cargo during the Iran conflict.
Postal Service mail voting rules face extended block as judge presses DOJ
A federal judge is considering whether to continue blocking a U.S. Postal Service rule imposing new requirements for mail voting.
DOJ charges ICE officer who shot immigrant with lying to investigators
Federal prosecutors have charged an ICE officer who shot a Venezuelan immigrant in Minnesota with making false statements about the incident, sources said.
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Clancy trial highlights need to rethink postpartum care: "The duty is on the system"
Lindsay Clancy's case is resonating with moms across the U.S. — bringing into focus the spectrum of perinatal mood and anxiety disorders and the lack of resources for many women.
What's true and false about infertility? We asked a fertility specialist.
Dr. Temeka Zore, a double board-certified OB-GYN and fertility specialist, joined "Healthful" for a deep dive on all things fertility, from endometriosis to PMOS (formerly known as PCOS) to egg freezing.
The market forces quietly adding thousands to patient bills
The true cost of "vertical integration": Patients directed to a higher-priced location for procedures. Or forced to buy from their insurer's wholly owned pharmacy, which may not stock the drug prescribed or provide it at the lowest price.
Trump inks deal with 9 pharmaceutical companies to lower drug costs
The White House said the agreements will reduce costs to treat Parkinson's disease, macular degeneration, glaucoma, liver disease and other illnesses.
Man with sinus infection symptoms diagnosed with heart condition
Marc Gaudisosi thought his symptoms were caused by a sinus infection. Then an urgent care told him to go to the hospital.
World
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DOJ reviving dormant prize law to try to claim Iranian oil tankers
The Justice Department is planning to try to use a legal regime last used during the Spanish-American War to speed up the seizure of ships and their cargo during the Iran conflict.
"Supersized" El Niño's harshest weather ahead includes heat, drought, floods
A new forecast predicts with almost 100% certainty that El Niño will remain in place until early 2027, peaking later this year.
U.S. sinks second "floating refueling station" used by alleged drug traffickers
The U.S. military intercepted and sank a vessel that was allegedly being used to support at-sea drug trafficking by the Ecuadorian criminal organization Los Choneros, officials said.
Maduro, wife seek dismissal of drug trafficking indictment on immunity grounds
Former Venezuelan President Nicolás Maduro and his wife asked a judge to toss their drug trafficking indictment on the grounds that they have immunity as the leader and first lady of a foreign country.
Exclusive
Military personnel told last month to stop calling Iran conflict "Operation Epic Fury"
The Pentagon says "Operation Epic Fury" ended on May 5, after an Air Force email last month told service members to stop using the name for ongoing Iran operations.
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Entertainment
KIND Snacks founder on his new podcast
"Shark Tank" judge and KIND Snacks founder Daniel Lubetzky joins "CBS Mornings" to discuss his new podcast, "Build or Break," where he sits down with fellow entrepreneurs and industry disruptors.
Gloria Steinem dies at 92
Gloria Steinem, a feminist icon and a pioneer in the women's liberation movement, has died at 92. CBS News' Jarred Hill looks back at her historic career.
Adria Arjona talks career, "Onslaught" role
Adria Arjona sits down with "CBS Mornings" to discuss her new movie, "Onslaught," and working with Michael B. Jordan on "The Thomas Crown Affair."
Artists sue AI-generated music company
Jason Isbell, Guy Forsyth and other musicians filed a class action lawsuit against Suno, claiming the AI platform used their music to train its model without permission. Jo Ling Kent has more.
Danielle Brooks on "If I Go Will They Miss Me"
Danielle Brooks sits down with "CBS Mornings" to talk about her new movie, "If I Go Will They Miss Me," and how being a mother and wife helped her in portraying the role.
Technology
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Technology
Testing London's first self-driving taxis
The first self-driving taxis have launched in London. Uber has 15 vehicles operating in the city with a required supervisor in the car. CBS News' Leigh Kiniry took an autonomous ride with Wayve co-founder and CEO Alex Kendall, whose AI technology is powering the robotaxis in London's iconic Westminster.
Why NYC is banning AI in some classes
New York City Public Schools is banning the use of artificial intelligence in most classrooms for the next year. New York City Councilman Eric Dinowitz joins with 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.
Exclusive
AI interviews rolling out for some federal government hires, sources say
The federal government will shift into using artificial intelligence in the interview process for some job applicants in the coming days, according to U.S. officials.
Hack exposes millions of ID scans on dark web
The FBI is investigating a recent hack that put more than 150 million U.S. and Canadian driver's license scans for sale online. Chris Krebs, former director of the Cybersecurity and Infrastructure Security Agency joins with more.
Science
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Science
Vote on the fattest marmot now
Marmots, not bears, are the largest "true" hibernating mammal, UCLA marmot researchers Katie Adler and Emily Renkey say. The two share more fun facts about these cute creatures and explain how to vote for the fattest marmot.
NASA plans to launch new space telescope
NASA's new telescope could change the way we see space. With a wide-field camera that will reveal an area up to 200 times larger than the Hubble Space Telescope, and an orbit a million miles from Earth, the Nancy Grace Roman telescope is expected to find tens of thousands of unknown exoplanets.
Invasive Joro spiders are "slowly spreading." Here's what to do if you see one.
The Great Smoky Mountains National Park told visitors Tuesday that invasive Joro spiders "may be hanging in a web near you."
A summer of extremes: Weathering a hotter world
July was the hottest month ever in the Lower 48 States – another escalation of our world into a hotter, more dangerous planet, where extreme weather events – such as heat waves, wildfires and hurricanes – will become more common and more extreme.
A summer of extremes: Weathering a hotter world
July was the hottest month ever in the Lower 48 States, breaking a record last set during the Dust Bowl – just another step in the escalation of our world into a hotter, more dangerous planet. Correspondent Jonathan Vigliotti talks with climate journalist Jeff Goodell and atmospheric scientist Maria Molina about how changes in Earth's climate are increasing the likelihood that extreme weather events – such as heat waves, wildfires and hurricanes – will become more common and more extreme.
Crime
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Crime
No verdict on Day 6 of Clancy deliberations
The sixth day of jury deliberations in the Lindsay Clancy murder trial ended without a verdict after several tense moments in court. CBS News' Jessica Levinson and Shanelle Kaul have the latest.
Missouri House candidate accused of conspiring to plant cocaine on opponent
Thomas Ross allegedly tried to get his campaign manager to plant cocaine and Adderall on his opponent, federal prosecutors in Missouri said.
Clancy lawyer asks for juror to be removed
Lindsay Clancy's defense on Thursday asked for a juror to be removed as deliberations continued for a sixth day. CBS News' Shanelle Kaul and Jessica Levinson have more.
New details emerge on Minneapolis shooting
New details are emerging on the shooting in Minneapolis that killed two people and left more injured. CBS News' Jonah Kaplan has the latest.
Day 6 of Lindsay Clancy deliberations continue
The jury in the Lindsay Clancy trial have broken for lunch on Day 6 of deliberations. CBS News' Shanelle Kaul has the latest.
Space
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NASA launches its Roman Space Telescope to explore the hidden universe
NASA's Roman Space Telescope launched shortly after daybreak from Kennedy Space Center and blazed toward an observation point 1 million miles away.
Roman Space Telescope promises 300-megapixel views of the cosmos
The $4.3 billion telescope is expected to discover tens of thousands of exoplanets while probing the nature of mysterious dark matter and energy.
First on CBS
Trump to honor Artemis II crew with nation's top space medal
President Trump plans to award the Congressional Space Medal of Honor to the crew of NASA's Artemis II mission in a ceremony Aug. 28.
NASA's Swift telescope will plunge toward Earth after rescue mission called off
The mission to save NASA's sinking space telescope has been called off, dooming the telescope to a fiery reentry later this year.
NASA images show 60-foot-wide crater on moon after SpaceX rocket booster crash
A NASA spacecraft circling the moon is providing the sharpest views yet of the crater carved by a crashing SpaceX rocket.
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.
Dolly Parton: An extraordinary life in pictures
Dolly Parton, the country music legend who became a feminist icon, has died at the age of 80. Here is a look back at her life in pictures.
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.
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.
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.
Latest CBS News Videos
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Latest CBS News Videos
No verdict on Day 6 of Clancy deliberations
The sixth day of jury deliberations in the Lindsay Clancy murder trial ended without a verdict after several tense moments in court. CBS News' Jessica Levinson and Shanelle Kaul have the latest.
Investment firm devastated by 9/11
The investment banking firm Sandler O'Neill faces the tragedy of 9/11. A third of its employees were killed in the attack on the World Trade Center.
Clancy lawyer asks for juror to be removed
Lindsay Clancy's defense on Thursday asked for a juror to be removed as deliberations continued for a sixth day. CBS News' Shanelle Kaul and Jessica Levinson have more.
Testing London's first self-driving taxis
The first self-driving taxis have launched in London. Uber has 15 vehicles operating in the city with a required supervisor in the car. CBS News' Leigh Kiniry took an autonomous ride with Wayve co-founder and CEO Alex Kendall, whose AI technology is powering the robotaxis in London's iconic Westminster.
Watch: Vance holds White House press briefing
Vice President JD Vance on Thursday held the first White House press briefing since Karoline Leavitt departed as press secretary. Following the briefing, CBS News' Aaron Navarro provided further context.