Optimistic signs about the economy
There were some positive signs last week that the economy might be holding firm. Mark Strassmann has the details.
Recession
U.S. economy grows in second quarter
New data from the Bureau of Economic Analysis shows the GDP grew at a rate of 2.4% between April and June of 2023, nearly half a point more than the 2% rate seen in the first quarter. Hardika Singh, markets reporter for the Wall Street Journal, joined CBS News to talk about the newly released numbers.
What recession? Latest GDP data shows economy is holding firm
U.S. economic growth accelerated last quarter, boosting hopes that a long-predicted recession can be avoided.
Fed expected to raise interest rate Wednesday
The Federal Reserve is expected to raise interest rates again Wednesday after pausing more than a year of rate hikes in June. Experts believe the central bank will increase rates by one-quarter of a percentage point as part of its ongoing fight against high inflation. Joe Rennison, markets reporter for The New York Times, joined CBS News to discuss.
12/7: CBS News Mornings
Warnock wins re-election; employees actively look for new jobs amid uncertain economy.
Survey: Investors still bracing for recession
A new Goldman Sachs survey shows Wall Street investors are still bracing for a recession despite inflation easing and a healthy job market. Greg Robb, an economics editor for MarketWatch, joined CBS News to discuss.
June jobs report shows cooling labor market
The U.S. added 209,000 jobs in June, the Labor Department reported on Friday. The unemployment rate dropped slightly to 3.6% from 3.7% in the prior month. CBS News reporter Sarah Ewall-Wice has more.
America's top banks excel in stress test
Several of the nation's top banks excelled in their yearly stress test, according to the Federal Reserve. The Fed tested how 23 banks — each with more than $100 billion in assets — would fare in an economic downturn. Lori Bettinger, president of a network of community banks known as BancAlliance, joins CBS News to break down the test results.
Biden says there won't be a recession
President Biden touted his administration's economic policies during a speech in Chicago on Wednesday. The pitch comes as the president ramps up his reelection campaign, but recent CBS News polling found a majority of Americans think the condition of the economy is bad. Ed O'Keefe and Robert Costa join "America Decides" to break down the remarks.
Recession fears subside
For the last year, experts have been making predictions of a recession but it hasn't arrived. Edward Yardeni, president and chief investment strategist at Yardeni Research, joins CBS News to break down what is and isn't happening with the economy.
Economists reverse course on recession fears
After a year of recession fears, some economists are now saying those financial concerns are cooling as the U.S. job market continues to show resilience. Rick Newman, a senior columnist at Yahoo Finance, joins CBS News to discuss what could be ahead for the economy.
Remember that looming recession? Not happening, some economists say
"People have been using the wrong R-word to describe the economy," one economist said. "It's resilience — not recession."
Electricity bills expected to go up
While prices of many goods and services may be cheaper this summer when compared to last year, don't expect to see any dips in your power bills. Analysts say average electricity prices are expected to be at least 2% higher. Associate managing editor for CBS MoneyWatch Irina Ivanova has more.
Americans visit London; Germany in recession
CBS News' Ramy Inocencio has today's MoneyWatch International, keeping an eye on where Americans are traveling internationally, and why the fourth biggest economy in the world, Germany, is falling on tough times.
How U.S. default could impact Americans
With a default deadline looming, CBS News business analyst Jill Schlesinger joins "CBS Mornings" to discuss what's exactly at stake and how it could impact Americans.
Debt ceiling talks appear to have stalled
Negotiations on the debt ceiling stalled Tuesday as the White House and House Republicans remain divided over spending cuts. Discussions ended late Tuesday and economists warn that the stock market could crash and the economy may experience a severe recession if no agreement is reached and the United States defaults on its debt. Congressional correspondent Scott MacFarlane reports from Washington.
How a U.S. debt default could impact your money
"It's hard to overstate how bad it would be," one expert said. Everything from Social Security payments to your retirement fund could get hit.
Interest rates highest since 2007
The Federal Reserve pushed interest rates to the highest point since 2007 to combat inflation. Critics warn the hikes could lead to a recession. Nancy Cordes reports.
Hiring for white-collar jobs in the U.S. is hitting a wall
Fearing an imminent recession, corporate employers are pulling back on hiring in a range of professional fields.
First quarter GDP growth lower than expected
New data shows that the U.S. GDP grew by 1.1% from the final quarter of 2022 to the first quarter of 2023. CBS News Contributor and Managing Editor for Business and Markets at AXIOS Javier David explains what this growth means for the potential of a recession.
U.S. economic growth slows, GDP report shows
The nation's gross domestic product grew at an annual rate of 1.1% in the first quarter of 2023, lower than what economists expected. But, the latest jobs report shows unemployment claims fell by 16,000. Ben Eisen, a reporter for the Wall Street Journal, joined CBS news to parse through the latest numbers.
New economic data gives insight on inflation
New Producer Price Index data suggests inflation could be easing. CBS News' Errol Barnett and Lana Zak are joined by Ahmed Riesgo, the CIO for Insigneo Financial Group.
Bond trading showing signs of economic trouble
Recent volatility in the bond market could be a bad sign for the economy. Earlier this month, yields saw their biggest plunge since 1982. New York Times markets reporter Joe Rennison joined Vladimir Duthiers and Anne-Marie Green to discuss.
Banking instability sparks U.S. recession fears
The Dow Jones fell sharply Wednesday after shares in Swiss bank Credit Suisse hit a record low. Host of "The Street" J.D. Durkin spoke with CBS News about recent trends in the marketplace and how they could impact federal economic action.
SVB collapse raises fears over banking system
The abrupt closure of three banks in a matter of days is continuing to ripple across the American economy. CBS News national correspondent Errol Barnett joined John Dickerson on "Prime Time" with the latest on the Silicon Valley Bank's collapse. Then, Jeff Guo, co-host for NPR's "Planet Money," helps break down what exactly happened to SVB.
Musk chose to restrict Ukraine's access to SpaceX network, sources say
American Stephen Hubbard released by Russia, Steve Witkoff says
Investigation
Armed federal agents knock on doors looking for noncitizen voters
Cornell responds to Jane Doe letter saying she felt disbelieved
Live
Iran touts closest ever ties with Russia, contradicting Trump
Ohio race takes ugly turn with ad featuring Amy Acton's mother
Hegseth meets Netanyahu ahead of elections, possible Iran war restart
Up to 20% of MS diagnoses may be wrong, like Christina Applegate's
