Kevin Warsh is now leading the Fed. His main challenge is a doozy.
Warsh is taking over as Fed chair as the U.S. faces the hottest inflation in years, impeding the interest rate cuts that President Trump has demanded.
Kevin Warsh
Expert: Warsh has "difficult job in front of him"
President Trump on Friday hosted a swearing-in ceremony for the new Federal Reserve Chair, Kevin Warsh. Jon Hilsenrath, visiting scholar at Duke University, joins with analysis on what Warsh will face in the coming months.
Kevin Warsh sworn in as new Fed chair
Kevin Warsh was sworn in as the new Federal Reserve chair on Friday, replacing Jerome Powell. During the ceremony, President Trump insisted Warsh will remain independent as he navigates inflation and other U.S. economic concerns. CBS News' Ed O'Keefe and Emily Pandise report.
Powell's legacy as Federal Reserve chair
Federal Reserve Chair Jerome Powell's last day comes after a tense tenure through a pandemic, economic turmoil and a rocky relationship with President Trump. CBS News' Emily Pandise reports.
Powell's tenure ends as Federal Reserve chair
Kevin Warsh is expected to take over as chair of the Federal Reserve as Jerome Powell concludes his tenure. Kristin Myers, the senior vice president of content and editor in chief of ETF.com, joins CBS News with more.
Why Fed kept rates same for third consecutive time
For its third consecutive meeting, the Federal Reserve left its benchmark interest rate unchanged. CBS News MoneyWatch correspondent Kelly O'Grady reports.
Senate Banking Committee advances Kevin Warsh's nomination for Fed chair
Senators voted along partisan lines, with Republicans backing Warsh's nomination to lead the Fed and Democrats on the panel opposing him.
Powell staying on Fed board after term ends
Jerome Powell held his last news conference as Federal Reserve chair on Wednesday, announcing his intention to stay on the central bank's board as a governor "for a period of time to be determined" following the end of his term.
Federal Reserve holds interest rates steady
The Federal Reserve held its benchmark interest rate steady on Wednesday as the U.S. economy continues to grapple with rising inflation. CBS News MoneyWatch correspondent Kelly O'Grady has more.
Will the Fed cut rates? Here's what to expect at Wednesday's meeting.
The Federal Reserve is contending with rising inflation amid the war and a lackluster job market, along with the departure of Fed Chair Jerome Powell.
Tillis says he's ready to move forward with Warsh's nomination for Fed chair
U.S. Attorney Jeanine Pirro said Friday her office is dropping its criminal investigation into Fed Chairman Jerome Powell and the $2.5 billion renovation of the central bank's headquarters.
Why is the DOJ dropping its Powell probe?
The Justice Department has dropped its criminal probe into Federal Reserve Chair Jerome Powell. The investigation was connected to the estimated $2.5 billion price tag for renovations on the Federal Reserve's headquarters in Washington, D.C. CBS News' Katrina Kaufman reports.
End of DOJ Powell probe could clear way for Warsh
The Justice Department has dropped its criminal investigation into outgoing Federal Reserve Chair Jerome Powell over the central bank's renovation. The move clears a key hurdle for President Trump's pick to replace Powell, Kevin Warsh. CBS News congressional correspondent Nikole Killion reports.
4/24: The Takeout with Major Garrett
Second round of U.S.-Iran peace talks expected this weekend; U.S. soldier charged for allegedly using confidential info to bet on Maduro's removal.
Tillis: "Hard to tell" where U.S. is in Iran war
Wednesday marks 53 days since the U.S. launched the war with Iran. Republican Sen. Thom Tillis of North Carolina joins "The Takeout" to discuss the state of the conflict and more.
Kevin Warsh on Fed independence
President Trump's nominee to head the Federal Reserve assured lawmakers on Tuesday that he would maintain strict independence. Kristin Myers, the senior vice president of content and editor in chief of ETF.com, joins CBS News with more.
Key moments at Warsh confirmation hearing
Kevin Warsh, President Trump's nominee to replace outgoing Federal Reserve Chair Jerome Powell, faced tense questioning from senators at his confirmation hearing on Tuesday. Here are some of the most notable exchanges.
What led to Cherfilus-McCormick's resignation?
Democratic Rep. Sheila Cherfilus-McCormick of Florida resigned from Congress on Tuesday ahead of a House Ethics Committee hearing to decide how to sanction her for more than two dozen campaign finance-related violations. CBS News congressional reporter Taurean Small has more.
Kevin Warsh testifies that the Fed will remain "strictly independent"
Warsh, nominated by President Trump to replace Fed Chair Jerome Powell, also said he'll work with the White House on some matters.
Who will run the Federal Reserve if the Senate doesn't confirm Trump's pick?
President Trump is fighting to reshape the Federal Reserve by replacing Chair Jerome Powell with Kevin Warsh — but if the Senate doesn't confirm Warsh by next month, it's not clear who will run the nation's central bank.
Early takeaways from Kevin Warsh hearing
Kevin Warsh, President Trump's nomination for chair of the Federal Reserve, told senators Tuesday that the central bank would remain "strictly independent." CBS News' Taurean Small reports on the hearing.
Warsh asked about Lisa Cook firing
During questioning from Democratic Sen. Angela Alsobrooks, Kevin Warsh declined to weigh in on President Trump's attempt to fire Lisa Cook from her position on the Federal Reserve Board of Governors, a case that is now before the Supreme Court. "The Fed should stay in its lane," Warsh said.
Warsh denies Trump asked for interest rate cuts
Sen. Ruben Gallego pressed Kevin Warsh again about whether President Trump asked him to commit to lowering interest rates if he was nominated to lead the Federal Reserve. Warsh reiterated that the president never asked him to "commit to any such thing."
Warsh on state of U.S. economy
Kevin Warsh, President Trump's nominee for Federal Reserve chairman, explained why he believes the potential of the U.S. economy is improving despite low job growth.
Kevin Warsh denies he will be "sock puppet"
Kevin Warsh told GOP Sen. John Kennedy that he will not be President Trump's "human sock puppet" and will remain fully independent if he's confirmed as the chairman of the Federal Reserve.
U.S.
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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, forced evacuations, closed roads and disrupted schools.
Detective says cruelty of woman's murder will "stay with me forever"
Lt. Dakota Black of the Pottawatomie County Sheriff's Office in Shawnee, Oklahoma, says the case of Makayla Meave, a missing teacher's aide, was one of the most heart-wrenching cases of her career.
A young mom was near death from lead poisoning. Who was trying to kill her?
Hannah Pettey, 22, a married mother of two from Alabama, suffered debilitating pain and lost more than 45 pounds as her health rapidly declined. Doctors suspected either her mother or her husband were trying to poison her.
Trump, Vance to speak at RNC Midterm Convention in Dallas
Republican National Committee Midterm Convention is a rare mid-cycle gathering of party leaders and delegates President Trump has called as a way to rally the party faithful ahead of November's contests.
Robin Morgan, feminist writer and close friend of Gloria Steinem, dies at 85
Robin Morgan, a wholesome child star of the 1940s and '50s who grew up to become an all-American radical as a poet, essayist, editor and second-wave feminist, has died at age 85.
MoneyWatch
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Are mortgage rates heading back above 7%? Here's what experts think.
Mortgage rates have climbed sharply this year amid mounting concerns about inflation and U.S. debt.
See the U.S. cities where worker pay is rising fastest
Although worker wages have risen modestly this year, pay is increasing much faster in some metro areas than in others, labor data shows.
Employer and worker health plan costs expected to jump in 2027
Employer health benefit costs are projected to see the steepest increase next year since 2003. That could mean higher deductions and out-of-pocket costs for workers.
August jobs report shows U.S. added 162,000 jobs, blowing past forecasts
Strong hiring last month was driven by gains in education and in leisure and hospitality, with the nation's jobless rate remaining steady at 4.1%.
Sturdy stock market mints a record number of 401(k) millionaires
The number of millionaire 401(k) accounts at Fidelity reached a record 769,000 in the second quarter.
Politics
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Trump, Vance to speak at RNC Midterm Convention in Dallas
Republican National Committee Midterm Convention is a rare mid-cycle gathering of party leaders and delegates President Trump has called as a way to rally the party faithful ahead of November's contests.
Trump delivers $10 million to Ken Paxton in first major contribution of midterms
President Trump's MAGA Inc. super PAC had previously only given one donation this midterm cycle: about $800,000 to Darline Graham.
Guyana latest "third country" to accept migrants deported from U.S.
Guyana is one of more than 30 nations that have now signed deals with the Trump administration as part of President Trump's crackdown on illegal immigration.
Fetterman texts reveal impatience with constituent duties
A former staffer confirmed that Sen. John Fetterman has routinely dismissed and at times refused to do core aspects of the job.
Top military officials faced polygraphs over leaks on munitions, sources say
Some of the highest-ranking officials in the U.S. military were subjected to polygraph tests as part of a sweeping leak probe, U.S. officials briefed on the matter told CBS News.
HealthWatch
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A woman was in pain for decades. A chance meeting helped her learn why.
Dawn Jemison started dealing with pelvic pain as a preteen. It took decades to learn why — and to find a solution.
Employer and worker health plan costs expected to jump in 2027
Employer health benefit costs are projected to see the steepest increase next year since 2003. That could mean higher deductions and out-of-pocket costs for workers.
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.
World
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Indonesia volcano eruptions cancels hundreds of flights in major airport hub
More than 500 flight movements were cancelled after the volcano erupted and spewed ashes into the air.
UN endorses new map that shows Africa's size more accurately
Africa has long been represented as smaller than its real size in maps, which are largely based on an ancient projection.
U.K.'s Nigel Farage said he "wasn't listening" in donation scandal conversation
Nigel Farage has downplayed his involvement in the scandal which has seen the Reform party accused of breaking British electoral law.
Uber robotaxis hit London's streets, but with humans still behind the wheel
Robotaxis are on the roads of London, marking Uber's biggest real-world challenge yet in a busy city built on a dense layout and countless roundabouts.
Guyana latest "third country" to accept migrants deported from U.S.
Guyana is one of more than 30 nations that have now signed deals with the Trump administration as part of President Trump's crackdown on illegal immigration.
Entertainment
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Entertainment
From the archives: Jazz artist Cassandra Wilson
Two-time Grammy-winning jazz singer Cassandra Wilson died on Sept. 1, 2026, at age 70. In this 1997 "Sunday Morning" profile, Wilson talked with correspondent Billy Taylor about her early influences, from her parents, to singers like Joni Mitchell and Richie Havens. PLUS: Watch Cassandra Wilson as a "Sunday Morning" correspondent, interviewing musician Robbie Robertson of The Band, at the Woodstock recording studio Big Pink, in a report broadcast in 1998.
Improvement Movement performs "On the Bus"
Improvement Movement is one of Atlanta's most exciting new bands. They say their third album, "Your Perfect Real Life," is sure to "inundate your ears" with as much good as you can reasonably feel these days. Here's Improvement Movement with "On the Bus."
Improvement Movement performs "In the Morning"
Improvement Movement is one of Atlanta's most exciting new bands. They say their third album, "Your Perfect Real Life," is sure to "inundate your ears" with as much good as you can reasonably feel these days. Here's Improvement Movement with "In the Morning."
Improvement Movement performs "I Do"
Improvement Movement is one of Atlanta's most exciting new bands. They say their third album, "Your Perfect Real Life," is sure to "inundate your ears" with as much good as you can reasonably feel these days. Here's Improvement Movement with "I Do."
Looking back at Jerry Lewis telethon
The first 24-hour Jerry Lewis Muscular Dystrophy Association telethon aired 60 years ago on Saturday. The staple of Labor Day weekend featured established stars like Dolly Parton and young comics like Jimmy Fallon.
Technology
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Technology
Self-driving AI Uber put to the test
Leigh Kiniry tests out an autonomous, AI-powered Uber in London.
FBI deputy director on using AI to fight crime
The FBI is using artificial intelligence to fight crime as it leans into targeting cartels and transnational criminal organizations. CBS News' Anna Schecter spoke with FBI Deputy Director Christopher Raia about the new technology.
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.
How AI is reshaping the U.S. Open for players and fans
At the U.S. Open, artificial intelligence is giving players and fans a new way to experience the tournament.
U.S. Open embraces artificial intelligence
At this year's U.S. Open, live artificial intelligence insights are bringing the digital world to the court, reshaping the tournament experience. CBS News digital reporter Lauren Fichten has the details.
Science
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Ig Nobel prizes go to scientists studying cockroach milk, nose-blowing, more
Ten research teams were honored at a satirical science awards ceremony that was hosted outside the U.S. for the first time due to travel concerns. A study of cockroach milk was among the winners.
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.
Crime
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Detective says cruelty of woman's murder will "stay with me forever"
Lt. Dakota Black of the Pottawatomie County Sheriff's Office in Shawnee, Oklahoma, says the case of Makayla Meave, a missing teacher's aide, was one of the most heart-wrenching cases of her career.
A young mom was near death from lead poisoning. Who was trying to kill her?
Hannah Pettey, 22, a married mother of two from Alabama, suffered debilitating pain and lost more than 45 pounds as her health rapidly declined. Doctors suspected either her mother or her husband were trying to poison her.
Mistrial declared in Lindsay Clancy trial
A judge in Massachusetts declared a mistrial in the murder trial of Lindsay Clancy, who killed her three young children, after jurors said for a third time they could not agree on a verdict.
Luxury brands' labor practices under scrutiny
Italian authorities are turning their attention to the luxury brands at the top of the fashion food chain after allegations of cheap labor and exploitation.
FBI deputy director on using AI to fight crime
The FBI is using artificial intelligence to fight crime as it leans into targeting cartels and transnational criminal organizations. CBS News' Anna Schecter spoke with FBI Deputy Director Christopher Raia about the new technology.
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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Tracker Dakota Black
A detective hunts for answers when a woman goes missing. For Tracker Black it's personal. "48 Hours" correspondent Peter Van Sant reports.
The Gaslighting of Hannah Pettey
When a young woman nearly dies from poisoning, investigators focus on the two people she trusted the most. "48 Hours" correspondent Anne-Marie Green reports.
Rare exotic bird spotted in Irvine
A rare, exotic bird typically found in the Caribbean and parts of South America has been spotted in Irvine, California. Carter Evans reports.
Self-driving AI Uber put to the test
Leigh Kiniry tests out an autonomous, AI-powered Uber in London.
Hurricane Lowell threatens Hawaii
Hurricane Lowell is building up about 600 miles off Honolulu, Hawaii. Andrew Kozak has the weather.