Powell warns Congress that inflation may keep rising next year

He tells Senate panel that the new COVID-19 variant could have an impact on economic activity and inflation.

• Nov 30, 2021

Biden nominates Powell to remain as Fed chair

President Biden nominated Federal Reserve Chair Jerome Powell to a second term. Plus, Democrats hope to boost their midterms chances with legislative successes. CBS News senior white house and political correspondent Ed O'Keefe, Washington Post deputy Washington editor Natalie Jennings and Politico national political correspondent David Siders join CBSN's "Red & Blue" anchor Elaine Quijano with the latest.

• Nov 22, 2021
• 15:11

Poll: Inflation hurting Biden job approval

A CBS News poll shows just 33% of Americans approve of President Biden's handling of inflation, with only 44% approving of the job he is doing overall. As CBS News' Skyler Henry reports, Mr. Biden is hoping to build economic stability by reappointing Jerome Powell for another term as Federal Reserve chairman. Alex Gangitano, a White House correspondent for The Hill, joins CBSN's Elaine Quijano to discuss how the economy could shape the future of Biden's presidency.

• Nov 22, 2021
• 9:38

Biden renominates Powell as Federal Reserve chair

President Biden is nominating Jerome Powell for a second term as Federal Reserve chair. Powell, a Republican who was originally nominated by President Trump, said he will focus on inflation if confirmed again.

• Nov 22, 2021
• 0:18

Biden to nominate Jay Powell for second term as Fed chair

Lael Brainard, whom progressives had pushed to lead the central bank, nominated as vice chair.

• Nov 22, 2021

The impact of Biden's agenda on inflation

Some economists say fears about the impact president Biden's economic agenda could have on inflation are overblown. CBS News MoneyWatch reporter Aimee Picchi joins CBSN to discuss more.

• Nov 19, 2021
• 5:48

Fed to keep interest rates near zero

Last week, the Federal Reserve voted to keep interest rates near zero as inflation rises to the highest point in 30 years. The central bank will also dwindle its buying of billions of dollars a stocks a month, which began during the pandemic. Senior vice president and director of research for the committee of economic development Joe Menarik joins Lana Zak on CBSN to discuss.

• Nov 7, 2021
• 8:53

Fed to start removing support for economy as inflation surges

The central bank said it will start reducing its $120 billion in monthly bond purchases in the coming weeks.

• Nov 3, 2021

6/16/20: Red and Blue

Senate holds hearing on police reforms; Virginia Rep. Riggleman loses Republican primary.

• Jun 16, 2020
• 29:14

Fed ready to start reeling in stimulus as U.S. economy heals

Economic recovery remains on course despite surge in COVID-19 cases, according to U.S. central bank.

• Sep 23, 2021

Progressives call on Biden to replace Powell as Federal Reserve chair

They say he hasn't done enough to address the effects of climate change on the financial system and has weakened regulations.

• Aug 31, 2021

Powell: Fed on track to slow aid for economy later this year

Federal Reserve chair downplays inflation and COVID-19 risks, saying the U.S. economic recovery remains on track.

• Aug 27, 2021

July inflation index beats economists' projections

The markets are reacting positively to data from the Labor Department. It shows a slightly slower year-over-year inflation rate than economists had feared. Overall, prices are up 5.4% compared to July of last year. CBS News reporter Sarah Ewall-Wice has more on what the July Consumer Price Index means for the state of the U.S. economy.

• Aug 11, 2021
• 6:48

Families set to receive child tax credit payments

The federal government will begin dispersing monthly cash payments to low- and moderate-income families on July 15 as part of the child tax credit program included in the latest round of COVID relief. The rollout comes as the Federal Reserve paints a clearer picture of the current state of the economy, saying inflation will likely remain elevated in the coming months. CBS News reporter Sarah Ewall-Wice joins CBSN's Lana Zak with the details.

• Jul 14, 2021
• 8:16

U.S. inflation jumps to 13-year high

The latest report from the U.S. Department of Labor shows the Consumer Price Index jumped to 5.4%, the largest increase in 13 years. Experts say the rise is being driven in part by an increase in prices of used cars, gas and hotel stays. Mark Zandi, chief economist with Moody's Analytics, joined CBSN to explain the reasons for the spike and his predictions for the coming year.

• Jul 14, 2021
• 6:09

Federal Reserve projects interest rate hikes in 2023

The central bank expects to raise interest rates twice by the end of 2023 after previously estimating there would be no interest rate hike until 2024.

• Jun 16, 2021

Trump names Fed chair

President Trump announced Thursday that Jerome Powell will be Janet Yellen's replacement as chairman of the Federal Reserve. Powell will take over the position in February. See Trump and Powell's full remarks from the White House.

• Nov 2, 2017
• 8:17

Yellen: Federal spending could drive a rise in interest rates

The Treasury secretary's remarks come as the president is pushing two proposals totaling $4 trillion.

• May 4, 2021

Bipartisan meeting set on infrastructure plan

President Biden and Vice President Harris are expected to meet with a small group of bipartisan lawmakers Monday at the White House to discuss the $2.3 trillion infrastructure proposal. Republicans have raised concerns over the size and cost of the package, while some Democrats say it needs to be even bigger. CBS News chief White House correspondent Nancy Cordes joins CBSN AM with the latest.

• Apr 12, 2021
• 7:23

U.S. deficit hits $1.7 trillion over last six months

The latest monthly Treasury report says the country spent nearly $660 billion more than it took in during March alone.

• Apr 12, 2021

Fed Chair on money market funds

Jerome Powell said money market funds need to be "resilient enough" to handle future liquidity shocks, and without federal assistance.

• Apr 11, 2021
• 1:48

ICYMI: A look back at Sunday's 60 Minutes

Fed Chair Jerome Powell tells 60 Minutes America is going back to work; Pentagon programs hope to make COVID-19 the last pandemic ever; And, what's hidden in Prince's vault of unreleased music?

• Apr 12, 2021

Fed Chair Jerome Powell: America is going back to work

Federal Reserve Chairman Jerome Powell gives his thoughts on how the economy is rebounding from the COVID-19 pandemic. Scott Pelley reports.

• Apr 12, 2021

Fed Chair on federal budget

When asked if continued spending on infrastructure and COVID-19 relief could set off inflation, Jerome Powell said he doesn't "see that now" and the economy needs to fully recover before spending levels "return to a sustainable path."

• Apr 11, 2021
• 1:57

Fed Chair on Archegos collapse

The Chairman of the Federal Reserve said the fallout from the collapse of Archegos Capital, its investments included ViacomCBS, was the result of a "risk management breakdown" and the Fed will take a closer look "to make sure it never happens again."

• Apr 11, 2021
• 2:38

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