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.
Jerome Powell
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
Fed cuts interest rates for the 3rd time this year
U.S. central bank lowers borrowing costs for a third time this year, but signals it's the last cut for some time
Live
U.S. conducts "self-defense" strikes, CENTCOM says, insists ceasefire still in place
As the Trump administration signals hope for a possible deal, Iran says obstacles linger, and "frequent changes" in U.S. positions aren't helping.
Vietnam vets say opposing Trump's arch is about being "loyal to the country"
"I think it's just disrespectful to those that I served with who didn't come back," a veteran suing to stop construction of the arch told CBS News.
Threat of massive blast "eliminated" for California chemical leak, officials say
California crews conducted an overnight operation at the Orange County site of a chemical leak in Garden Grove and said Monday that the threat of an explosion had been "eliminated" and was "off the table."
North Korea short-range ballistic missile, other weapons toward sea, South says
North Korea launched multiple short-range ballistic missiles toward the sea, South Korea's military said, the latest in a series of weapons demonstrations by Pyongyang this year.
Pope Leo calls for "disarming" of AI in technology-focused encyclical
In his "Magnifica Humanitas" encyclical, Pope Leo warns that as civilization grapples with the power of AI, the main challenge is remaining "profoundly human."
AG requests to resume ballroom construction, citing latest shooting
Attorney General Todd Blanche said the ballroom is "being constructed for the physical safety and security of all Presidents, their families, staff, Foreign Dignitaries, and guests."
Here's what the draft memo for a proposed deal with Iran includes
A draft memorandum includes a 60-day ceasefire extension and the halt of fighting on all fronts, sources say.
Ebola death toll climbs in Congo as new infections confirmed in Uganda
The WHO chief says there have been 220 suspected deaths in the ongoing Ebola outbreak as Ugandan health authorities report two new Ebola infections.
1,500 strangers attend WWII veteran's funeral
Veterans service officer Terrance O'Keefe put out a call from Massachusetts for a World War II veteran who needed a proper hero's send-off. When he arrived at the funeral, a line was already out the church door.
U.S.
More U.S.
Sonny Rollins, trailblazing jazz saxophonist, dies at age 95
Sonny Rollins, the legendary tenor saxophonist known for his bold tone and constant experimentation, has died at 95.
Wander Franco found criminally responsible for abusing minor, avoids jail time
A Dominican judge has ruled that Tampa Bay Rays shortstop Wander Franco is criminally responsible for the sexual and psychological abuse of a minor but will not serve a sentence.
1,500 strangers attend WWII veteran's funeral
Veterans service officer Terrance O'Keefe put out a call from Massachusetts for a World War II veteran who needed a proper hero's send-off. When he arrived at the funeral, a line was already out the church door.
Residents near California chemical tank forced to flee: "You're freaking out"
Emergency crews raced overnight to prevent a tank holding a volatile industrial chemical from exploding at an aerospace facility in Southern California.
Buying a car? Here are some tips to save money.
Here are the financial considerations to make when shopping for a new vehicle amid high car prices.
MoneyWatch
More MoneyWatch
Buying a car? Here are some tips to save money.
Here are the financial considerations to make when shopping for a new vehicle amid high car prices.
What's open and closed for Memorial Day 2026?
Most retail stores will be open for business on Memorial Day, while post offices will be closed. Here's what to know.
AI is driving more job cuts and weighing on hiring, economists say
Economists say AI is reshaping the U.S. labor market by suppressing hiring even as overall job losses remain limited.
House lawmakers launch insider trading probe into Kalshi and Polymarket
Rep. James Comer is requesting information from Kalshi and Polymarket on how the prediction markets guard against insider trading.
Kevin Warsh sworn in as new Fed chair, replacing Powell
Kevin Warsh has vowed to preserve the Fed's independence over monetary policy, telling lawmakers he will never "predetermine" interest rates at the president's request.
Politics
More Politics
Here's what the draft memo for a proposed deal with Iran includes
A draft memorandum includes a 60-day ceasefire extension and the halt of fighting on all fronts, sources say.
AG requests to resume ballroom construction, citing latest shooting
Attorney General Todd Blanche said the ballroom is "being constructed for the physical safety and security of all Presidents, their families, staff, Foreign Dignitaries, and guests."
DOJ says it scrubbed news releases about Jan. 6 criminal cases from its website
The Justice Department acknowledges it has removed from its website news releases about criminal cases related to the Jan. 6, 2021 riot, calling the information "partisan propaganda."
Vietnam vets say opposing Trump's arch is about being "loyal to the country"
"I think it's just disrespectful to those that I served with who didn't come back," a veteran suing to stop construction of the arch told CBS News.
N.J. governor requests access to Delaney Hall ICE facility amid protests
New Jersey Gov. Mikie Sherrill is asking ICE to let her inside the Delaney Hall detention center in Newark.
HealthWatch
More HealthWatch
Second Ebola treatment center set on fire in epicenter of disease's outbreak
Angry residents of a town at the epicenter of the Ebola outbreak in eastern Congo attacked and burned a tent that was part of a health center where people are being treated for the virus.
The latest details on the Ebola outbreak
Officials have increased the number of countries in Africa at risk for Ebola from three to 10. A third entry point is open for Americans traveling from certain high-risk countries back into the U.S. Holly Williams reports.
What to know about the chemical tank in California that forced evacuations
The tank at GKN Aerospace is estimated to contain 7,000 gallons of methyl methacrylate, a volatile chemical used to produce plastics.
Ebola kills 3 Red Cross workers in the Congo, organization says
The three workers, who fell ill in March and died in May, were "among the first known victims of the outbreak," the Red Cross said.
Teen's mystery illness solved: "It took 18 years to get an answer"
Lucia Adarve had a long list of symptoms that no one could diagnose. Her mother Lisa was determined to find an answer.
World
More World
North Korea short-range ballistic missile, other weapons toward sea, South says
North Korea launched multiple short-range ballistic missiles toward the sea, South Korea's military said, the latest in a series of weapons demonstrations by Pyongyang this year.
Wander Franco found criminally responsible for abusing minor, avoids jail time
A Dominican judge has ruled that Tampa Bay Rays shortstop Wander Franco is criminally responsible for the sexual and psychological abuse of a minor but will not serve a sentence.
Here's what the draft memo for a proposed deal with Iran includes
A draft memorandum includes a 60-day ceasefire extension and the halt of fighting on all fronts, sources say.
Pope Leo calls for "disarming" of AI in technology-focused encyclical
In his "Magnifica Humanitas" encyclical, Pope Leo warns that as civilization grapples with the power of AI, the main challenge is remaining "profoundly human."
Land where notorious cartel leader was killed is being auctioned
The Mexican government announced the auction of a plot of land within the country club where drug kingpin "El Mencho" died during a clash with the army in February.
Entertainment
More Entertainment
Sonny Rollins, trailblazing jazz saxophonist, dies at age 95
Sonny Rollins, the legendary tenor saxophonist known for his bold tone and constant experimentation, has died at 95.
American Music Awards air tonight with star-studded performances
The American Music Awards celebrate fan favorites in the music world and feature performances from multiple artists.
Extended interview: Patti LaBelle
It's been some 50 years since Patti LaBelle first sang her hit song "Lady Marmalade." As she marks her 82nd birthday, LaBelle talks to correspondent Tracy Smith about her career and what's next.
5/24: Sunday Morning
Hosted by Lee Cowan. Featured: Concours d'LeMons, Iranian propaganda, Patti LaBelle.
Patti LaBelle on being called a legend: "I have earned it"
Patti LaBelle said she's "having fun living it down" as the legendary singer marks her 82nd birthday.
Technology
More Technology
Pope Leo calls for "disarming" of AI in technology-focused encyclical
In his "Magnifica Humanitas" encyclical, Pope Leo warns that as civilization grapples with the power of AI, the main challenge is remaining "profoundly human."
CBS News poll finds most doubt government will ensure AI used appropriately
Amid concern about AI taking jobs, people see a range of motives by AI companies.
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.
Ring founder on the Fire Watch feature
As thousands evacuate their homes in Southern California to flee the Sandy Fire, Ring doorbell and security cameras are helping residents and emergency crews stay informed and stay safe. Ring founder Jamie Siminoff joins CBS News to discuss the Fire Watch feature.
Stanford student on how AI impacted his class
A recent opinion piece in The New York Times spotlighted the impact of artificial intelligence on the 2026 graduating class at one of the world's most prestigious universities. The author, Stanford student Theo Baker, joins to discuss.
Science
More Science
Science
What we know about new UFO file release
The Pentagon has released another batch of never-before-seen files on reported UFO sightings. CBS News senior national security correspondent Charlie D'Agata reports.
Atlantic hurricane season is coming up. Here's what NOAA predicts.
The 2026 Atlantic hurricane season is quickly approaching, and the National Oceanic and Atmospheric Administration is releasing its forecast for what to expect.
2 humpback whales swam record-breaking distance, photos reveal
The pictures represent the longest-distance ever seen between two pictures of the same humpback whale, researchers said.
Live chicks hatched from artificial eggshell, biotech company says
Independent scientists say the technology, while impressive, lacks some components to be truly considered an artificial egg.
El Niño could bring "double whammy" of high tide flooding, NOAA warns
The upcoming El Niño could trigger frequent and widespread flooding in coastal areas around the United States, even when storms aren't actively taking place, scientists warn.
Crime
More Crime
Wander Franco found criminally responsible for abusing minor, avoids jail time
A Dominican judge has ruled that Tampa Bay Rays shortstop Wander Franco is criminally responsible for the sexual and psychological abuse of a minor but will not serve a sentence.
Latest on shooting near White House
21-year-old Nasire Best, the suspect linked to a shooting near the White House on Saturday, previously tried to gain access to the White House and may have had mental health issues, according to law enforcement sources and court documents. CBS News' Nicole Sganga reports.
Suspects wanted by FBI for robbing athletes' homes arrested in Chile
The thieves stole jewelry, high-end watches and souvenirs such as sports jerseys, among other belongings, police said.
Husband convicted of hiring hitman to kill NYC art dealer in Brazil
Daniel Sikkema faces a mandatory sentence of life in prison. Brent Sikkema was stabbed to death in his Rio de Janeiro townhouse in 2024.
New details on Saturday's White House shooting
The alleged gunman in Saturday's shooting at the White House had tried to gain access to the White House last year. Natalie Brand reports.
Space
More Space
China launches spacecraft with astronaut set to remain in space for a year
China has launched the Shenzhou 23 spacecraft with three astronauts heading to its space station.
SpaceX launches more powerful Super Heavy-Starship rocket
Perfecting SpaceX's mammoth rocket will be critical to NASA's plans for returning astronauts to the surface of the moon.
SpaceX launch of more powerful Super Heavy-Starship rocket scrubbed at last minute
The new rocket features a host of upgrades intended to improve safety and performance of the world's most powerful rocket.
SpaceX to explore "the true nature of the universe" as it plans IPO
Elon Musk's SpaceX is moving ahead with plans to go public in what some expect will be the biggest IPO ever.
SpaceX launches cargo ship to International Space Station
The International Space Station-bound SpaceX Cargo Dragon is loaded with 6,500 pounds of needed equipment, research gear and crew supplies.
Latest Galleries
More Latest Galleries
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
More Latest CBS News Videos
Latest CBS News Videos
The history of Memorial Day
In celebrations throughout the country, communities honored the lives of fallen U.S. service members. Jericka Duncan takes a look at the history of Memorial Day.
Remembering Paul Douglas and James Brolan
On this Memorial Day, we remember CBS News cameraman Paul Douglas and soundman James Brolan, who were killed 20 years ago by a car bomb in Iraq.
Inside the U.S. military's war games using AI
The U.S. military has been using artificial intelligence to process battlefield intelligence in real time. Chris Livesay observes a U.S. military training exercise in Morocco that's being shaped by AI.
High gas prices, storms hamper Memorial Day
Millions of drivers hit the road for a record-breaking Memorial Day travel weekend despite high gas prices. Meanwhile, three days of relentless rain in the northeast U.S. hampered travel plans. Skyler Henry has more.
Shooting near White House raises concerns
Saturday's shooting near the White House has raised security concerns ahead of summer celebrations to mark America's 250th birthday. The shooter, who was killed after opening fire on a Secret Service checkpoint, had previously blocked a White House entry lane last June, court records show. Nicole Sganga reports.