Federal Reserve says inflation should rise dramatically
Fed chair Jerome Powell announced a radical new policy on how the central bank sets interest rates.
Jerome Powell
Fed's Kashkari warns bank losses during COVID could trigger financial crisis
"I am concerned the longer this goes on, the more losses banks will face," he told "Face the Nation" moderator Margaret Brennan.
Fed's Powell says coronavirus downturn could do severe economic harm
Federal Reserve chair says the risk to small businesses from the pandemic is acute.
Fed says 15 million Americans will remain jobless by year-end
Central bank expects unemployment to remain above by 9% by year-end and for joblessness to remain elevated into 2022.
Fed chief: Virus hurting "those least able to bear its burdens"
Inequality is deepening the economic impact of COVID-19 on American workers, U.S. central bank chairman said.
Powell and Mnuchin defend trillion-dollar stimulus efforts
It's the first public testimony by the duo since the $2 trillion economic bailout became law nearly two months ago.
Hearing on coronavirus stimulus efforts
Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin testified via video for a Senate committee on the impact of economic stimulus measures to help the nation recover from the coronavirus pandemic. CBS News chief congressional correspondent Nancy Cordes and CBSN political contributor Molly Hooper join CBSN's Reena Ninan with highlights from the hearing.
ICYMI: A look back at Sunday's 60 Minutes
This week on 60 Minutes: Federal Reserve Chairman Jerome Powell on the coronavirus-ravaged economy; Norah O'Donnell interviews whistleblower Rick Bright; And, what will be the long-term effects of the coronavirus pandemic?
Fed Chair Jerome Powell on the coronavirus-ravaged economy
The head of the U.S. central banking system tells Scott Pelley how high he thinks unemployment will go, what tools the Fed still has to breathe life into the economy and what outcomes he's trying to avoid on the road to economic recovery.
Fed Chair Powell: The U.S. won't have negative interest rates
As President Trump calls for negative rates, Federal Reserve Chairman Jerome Powell tells 60 Minutes the central bank won't lower interest rates below zero.
Full Transcript: Fed Chair Jerome Powell's 2020 60 Minutes interview
Jerome Powell lays out his thoughts on getting the economy back to its pre-coronavirus numbers. The transcript from the Federal Reserve chairman's interview with Scott Pelley.
Fed Chair Powell: No negative interest rates
As President Trump calls for negative rates, Federal Reserve Chairman Jerome Powell tells 60 Minutes the central bank won’t lower interest rates below zero.
Why the Fed chair keeps talking to 60 Minutes
The Chairman of the Federal Reserve seldom gives interviews, but Ben Bernanke and Jerome Powell have both granted them to Scott Pelley in trying times for the U.S. economy.
Why the Fed chair keeps talking to 60 Minutes
The Chairman of the Federal Reserve seldom gives interviews, but Ben Bernanke and Jerome Powell have both granted them to Scott Pelley in trying times for the U.S. economy.
Jerome Powell: The 2020 60 Minutes interview
The head of the U.S. central banking system tells Scott Pelley how high he thinks unemployment will go, what tools the Fed still has to breathe life into the economy and what outcomes he's trying to avoid on the road to economic recovery.
Fed chair on when the economy could recover
"This economy will recover. It may take a while," Federal Reserve Chairman Jerome Powell told Scott Pelley in an interview airing on "60 Minutes."
Fed chair says don't bet against American economy
"This economy will recover. It may take a while. It may take a period of time. It could stretch through the end of next year. We really don't know," Federal Reserve Chairman Jerome Powell told Scott Pelley.
Fed Chair Jerome Powell speaks to 60 Minutes
See the interview, Sunday at 7 p.m. ET/PT on CBS
Fed Chair Jerome Powell speaks to 60 Minutes
See the interview, Sunday at 7 p.m. ET/PT on CBS
Fed chief Powell says U.S. could face "prolonged" recession
U.S. central bank chief urges Congress to boost relief, saying that a deeper slump "can leave behind lasting damage."
Fed cuts interest rates to near zero to fight coronavirus impact
"The Fed has to bring the big guns," one analyst said of the central bank's efforts to rescue a slowing U.S. economy.
Fed slashes interest rates to protect economy from coronavirus
It's the biggest rate cut since the 2008 financial crisis — central bank says the virus poses "evolving risks."
Fed chief: Economy resilient despite coronavirus risk
Jerome Powell says economic growth is holding up, bolstered by the lowest jobless rate in nearly 50 years.
Trump and Powell get together to talk interest rates
Jerome Powell visits White House for a chat with the president who has called U.S. central bankers "boneheads"
Powell hints to Congress: No more rate cuts this year
Central bank sees U.S. economy growing at solid pace, although slower growth overseas and trade tensions pose risks
Live
Trump says Iran deal not final, will resume bombing "if they don't behave"
President Trump warns he could order new strikes if Iran's leaders "don't behave," two days before the expected signing of a deal that remains vaguely defined.
Senate postpones Clayton's confirmation hearing after Trump upends plans
The Senate canceled Jay Clayton's confirmation hearing on Wednesday after President Trump's move to delay the installation of the new intelligence chief.
Exclusive
Is Russia burning through air defense missiles at an "unsustainable rate"?
Ukraine intelligence indicates the country's stepped up drone strikes are forcing Russia to burn through interceptor missiles, possibly faster than it can build new ones.
Victims ID'd in B-52 bomber crash that killed 8 at Edwards Air Force Base
As standard practice, the military makes public identifications 24 hours after next of kin have been notified.
Federal Reserve holds interest rates steady but leaves door open to hike
U.S. inflation is expected to remain elevated through the end of the year, Fed officials say in their latest forecast.
Pastors for Trump founder drops out of House race after texting scandal
Jackson Lahmeyer had been backed by President Trump, although the president dropped his endorsement shortly before Lahmeyer dropped out.
Exclusive
"The most famous judge in America, for a while," on highs and lows of a Trump trial
In an exclusive interview with CBS News, retired Justice Arthur Engoron reflected on the highs and lows of the 2023 Trump civil fraud trial.
Read the 14 points of the agreement between Iran and the U.S.
The agreement, as read by senior U.S. officials, allows Iran to immediately begin exporting oil and petroleum products.
Rex Heuermann sentenced to life in prison for Gilgo Beach serial killings
Rex Heuermann was sentenced to life in prison without the possibility of parole for the series of murders known as the Gilgo Beach serial killings.
U.S.
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Pastors for Trump founder drops out of House race after texting scandal
Jackson Lahmeyer had been backed by President Trump, although the president dropped his endorsement shortly before Lahmeyer dropped out.
Federal Reserve holds interest rates steady but leaves door open to hike
U.S. inflation is expected to remain elevated through the end of the year, Fed officials say in their latest forecast.
The Obama Presidential Center and Library opens in Chicago
After more than a decade since it was announced, the Obama Presidential Center and Library officially opens to the public in Chicago's Jackson Park on June 19, 2026.
DOJ taps prosecutor to coordinate human trafficking, child exploitation cases
Acting Attorney General Todd Blanche appointed Alessandra Serano to serve as the Justice Department's national coordinator on human trafficking and child exploitation cases.
Victims ID'd in B-52 bomber crash that killed 8 at Edwards Air Force Base
As standard practice, the military makes public identifications 24 hours after next of kin have been notified.
MoneyWatch
More MoneyWatch
Federal Reserve holds interest rates steady but leaves door open to hike
U.S. inflation is expected to remain elevated through the end of the year, Fed officials say in their latest forecast.
Social Security faces looming benefit cuts. Can the program be saved?
Social Security checks could see a 22% cut in 2032 unless Congress takes steps to shore up the program. Here are 5 ideas for fixing it.
Want to start a business? AI can help, business owners say
AI is slashing the cost of starting and running a business. "Everything has decreased in cost and increased in speed," one entrepreneur said.
What to expect as Kevin Warsh leads his first Fed interest rate meeting
New Fed Chairman Kevin Warsh is stepping in at a critical juncture for the U.S. economy, with inflation at its highest level in more than three years.
Yum! Brands sells struggling Pizza Hut in $2.7 billion deal
The sale will split ownership of the pizza chain between a U.S.-based private equity firm and a Chinese restaurant company.
Politics
More Politics
Pastors for Trump founder drops out of House race after texting scandal
Jackson Lahmeyer had been backed by President Trump, although the president dropped his endorsement shortly before Lahmeyer dropped out.
Read the 14 points of the agreement between Iran and the U.S.
The agreement, as read by senior U.S. officials, allows Iran to immediately begin exporting oil and petroleum products.
The Obama Presidential Center and Library opens in Chicago
After more than a decade since it was announced, the Obama Presidential Center and Library officially opens to the public in Chicago's Jackson Park on June 19, 2026.
DOJ taps prosecutor to coordinate human trafficking, child exploitation cases
Acting Attorney General Todd Blanche appointed Alessandra Serano to serve as the Justice Department's national coordinator on human trafficking and child exploitation cases.
Georgia lawmakers not changing voting maps during special session
Georgia House leadership say they are holding off on redrawing Georgia's legislative maps during the special legislative session.
HealthWatch
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Ebola outbreak still spreading in Congo: "We are missing cases"
A WHO official tells CBS News Ebola is still spreading in Congo after a month, as experts race to contain the outbreak in Central Africa.
American doctor who recovered from Ebola back in U.S., says he's "feeling well"
Dr. Peter Stafford, his wife, Rebekah Stafford, and their four children all arrived safely on Monday, according to Serge, a Pennsylvania-based Christian missions organization.
They're uninsured after Obamacare became too costly. They're far from alone.
After congressional Republicans let expanded subsidies for Affordable Care Act plans expire at the end of last year, some families have decided the price is too great of a financial burden and canceled their coverage.
Organic formula recalled after 3 babies diagnosed with infant botulism
The affected formula was sold at Target and at Nara.com, according to the Food and Drug Administration.
6/14: Sunday Morning
Hosted by Jane Pauley. Featured: The lack of obesity in Japan; Vice President JD Vance and second lady Usha Vance; former child star Bill Mumy; the past and future of the Houston Astrodome; a time capsule for America's 500th birthday; and soccer art made with gum wrappers.
World
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Read the 14 points of the agreement between Iran and the U.S.
The agreement, as read by senior U.S. officials, allows Iran to immediately begin exporting oil and petroleum products.
Exclusive
Is Russia burning through air defense missiles at an "unsustainable rate"?
Ukraine intelligence indicates the country's stepped up drone strikes are forcing Russia to burn through interceptor missiles, possibly faster than it can build new ones.
Vance says text of U.S.-Iran deal will be released Friday "at the latest"
Vice President JD Vance said on "CBS Monrings" that the Trump administration wants "to tell the American people what's in this deal."
Live
Trump says Iran deal not final, will resume bombing "if they don't behave"
President Trump warns he could order new strikes if Iran's leaders "don't behave," two days before the expected signing of a deal that remains vaguely defined.
Latest U.S. strike on alleged drug boat kills 1, leaves 2 survivors, Pentagon says
Critics have questioned the overall legality of the boat strikes as well as their effectiveness since the U.S. military began them in September 2025.
Entertainment
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CBS to host "The Great American Block Party 250" special on July 4
CBS will host a primetime special celebrating America's 250th birthday on Saturday, July 4, with exclusive performances and the largest fireworks show in history.
CBS to host America 250 special on July 4
"CBS Evening News" anchor Tony Dokoupil and "Entertainment Tonight" co-host Nischelle Turner will host "The Great American Block Party 250," a primetime special on July 4 celebrating America's 250th birthday from Washington, D.C.
Durand Bernarr on new music
Durand Bernarr talks about collaborations in his music, why his new album's title is a tribute to his father and his music journey since his viral Grammy speech earlier this year.
Messi ties men's World Cup goals record with first World Cup hat trick
Lionel Messi tied the Men's World Cup goals record with his first World Cup hat trick as Argentina topped Algeria.
America250 announces concert headliners, host
Chris Stapleton and The Smashing Pumpkins are set to headline America250's "America's Block Party Concert," with Queen Latifah set to host. Rosie Rios, the chair of America250, joins CBS News 24/7 with more.
Technology
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Want to start a business? AI can help, business owners say
AI is slashing the cost of starting and running a business. "Everything has decreased in cost and increased in speed," one entrepreneur said.
SpaceX to buy AI coding assistant Cursor for $60 billion
The deal comes just days after SpaceX went public in the largest IPO in history, raising $75 billion to help fund its expansion.
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.
Anthropic to meet Trump officials, Axios says
Anthropic's senior staff is planning to meet with White House officials amid a recent dispute over the company's safety measures. Maria Curi, a tech reporter for Axios, has more.
U.K. announces plan to ban social media for children under 16
U.K. Prime Minister Keir Starmer hopes to have a ban on kids using social media that is "designed to be addictive" enacted by early next year.
Science
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Science
Watch: Pentagon releases 6 new UFO videos
The Defense Department released a third batch of UFO files on Friday, three weeks after its second drop. These are all of the videos in the latest tranche, plus analysis from astrophysicist Avi Loeb.
Goblin shark seen alive in natural deep-sea habitat for the first time
The goblin shark had only previously been seen when caught by fishermen and they died shortly afterward.
World's largest whale graveyard found by sub at bottom of ocean
The researchers saw many strange animals — many believed to be new to science — living off the whale carcasses.
NASA names 4 astronauts for next Artemis mission
NASA's Artemis III astronauts plan to carry out rendezvous and docking procedures with commercial moon landers being built by SpaceX and Blue Origin.
Great white shark captured on video in Mediterranean in rare sighting
Great white sharks are classified as "critically endangered" in the Mediterranean Sea, and underwater sightings are incredibly rare.
Crime
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Crime
Heuermann addresses court as he's sentenced
Rex Heuermann was sentenced to life in prison without parole Wednesday after pleading guilty to a series of murders known as the Gilgo Beach serial killings. Heuermann spoke at the hearing where the sentence was handed down. CBS News' Shanelle Kaul reports.
Rex Heuermann sentenced to life in prison
Rex Huermann, the man who pleaded guilty to a series of murders known as the Gilgo Beach serial killings, has been sentenced to life in prison without the possibility of parole. CBS News' Shanelle Kaul reports.
5 arrested in White House UFC attack plot
The FBI says it foiled a plot to attack Sunday's UFC event at the White House. Court records detail an alleged plot to use drones carrying explosives and snipers to target certain event attendees. CBS News' Katrina Kaufman has the latest.
Gilgo Beach serial killer to be sentenced
Rex Heuermann, the man who pleaded guilty in April to the Gilgo Beach murders, is set to be sentenced on Wednesday. Tom Hanson reports on how the case unfolded.
Luigi Mangione's lawyers will argue psychiatric defense in NYS murder trial
Luigi Mangione's lawyers will argue that he was suffering from an extreme emotional disturbance when he allegedly killed UnitedHealthcare CEO Brian Thompson.
Space
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NASA chief defends choice of all-male crew for Artemis III mission
NASA's Jared Isaacman says the crew was selected solely based on their experience, expertise and availability for flight assignment.
NASA names 4 astronauts for next Artemis mission
NASA's Artemis III astronauts plan to carry out rendezvous and docking procedures with commercial moon landers being built by SpaceX and Blue Origin.
Space station crew briefly moves to "safe haven" amid concerns over leaks
Out of an abundance of caution, NASA briefly directed five of the seven crew members aboard the International Space Station to wait inside the docked SpaceX Crew Dragon "Freedom" spacecraft.
Sun erupts with 3 solar flares, raising chances of northern lights for U.S.
Three solar flares burst from the sun this week, raising the chances of seeing the northern lights for people across the United States.
NASA reluctantly gives up on lost orbiter: "Best Mars mission ever"
NASA officials said the $582 million MAVEN orbiter could not be recovered after a problem on the far side of Mars late last year, and that its extraordinarily successful mission was at an end.
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.
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.
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?
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
Dow falls after Fed holds interest rates steady
The Federal Reserve maintained its benchmark interest rate on Wednesday in its first meeting with Kevin Warsh as chair. CBS News MoneyWatch correspondent Kelly O'Grady reports from the New York Stock Exchange.
Trump: U.S. would be better off without USMCA
Speaking to reporters in Paris, France, on Wednesday, President Trump criticized the United States-Mexico-Canada Agreement, saying he would "rather not have" it. Mr. Trump signed the trade deal during his first term.
CBS to host America 250 special on July 4
"CBS Evening News" anchor Tony Dokoupil and "Entertainment Tonight" co-host Nischelle Turner will host "The Great American Block Party 250," a primetime special on July 4 celebrating America's 250th birthday from Washington, D.C.
Trump on Iran deal nuclear weapons details
President Trump told CBS News' Nancy Cordes that he would bomb "the hell" out of Iran if they don't adhere to the latest agreement, despite the text not including much about developing nuclear weapons.
Details emerge on UFC plot suspects
More details are emerging on the suspects in the alleged plot to attack the UFC event at the White House on Sunday. 19 people were involved in the alleged scheme, the FBI said. CBS News' Sarah Lynch has the latest.