Feds to buy up to $6 billion in Treasury bonds. Here's why.
Wall Street analysts are skeptical that the Treasury Department's bond purchases can curb yields and lower U.S. borrowing costs.
United States Department of the Treasury
Rising bond yields threaten to push up U.S. borrowing costs
The U.S. bond market influences how much American consumers pay for loans and the interest they can earn on their savings accounts.
Treasury official on G20 summit
Chris Pilkerton, assistant secretary for investment security at the U.S. Treasury Department, is at the G20 summit in Asheville, North Carolina, and joins CBS News with more on what to expect.
Will U.S.-Venezuela oil deal actually lower gas prices?
President Trump says a new oil reserve agreement with Venezuela will "substantially lower gas prices," but experts say it could be years before the operation is up and running. Chris Pilkerton, assistant secretary for investment security at the U.S. Treasury, joins to discuss the deal.
What has Iran war done to U.S. after 6 months?
Friday marks six months since the start of the Iran war. When it began, President Trump said it would last six weeks. CBS News chief foreign affairs correspondent and "Face the Nation" moderator Margaret Brennan joins with analysis.
National debt tops $40 trillion after doubling in under 10 years
Federal debt has mounted amid tax cuts and trillions in pandemic spending, adding to the nation's interest payments.
U.S. national debt hits record $40 trillion
America's national debt has climbed to $40 trillion after years of borrowing. CBS News chief White House correspondent Nancy Cordes reports on the Trump administration's response.
Bond market sell-off threatens to drive up loan costs
The yield on the 30-year Treasury this week hit its highest level since 2007, a rise that could put upward pressure on borrowing costs.
Dow closes down over 1,000 points
Amid energy price spikes caused by the Iran war and persistently high inflation, the Federal Reserve decided on Wednesday to hold interest rates steady for the fifth straight time. CBS News MoneyWatch correspondent Kelly O'Grady reports.
U.S. targets California-born leader of notorious Jalisco cartel
Juan Carlos Gonzalez, also known as "Pelon," is the stepson of "El Mencho" — real name Nemesio Oseguera — who was injured and later died in a military sweep.
U.S. Mint to make $1 gold coin with Trump's face on it
It's the latest effort by President Trump to make his mark on Washington, D.C.
Timeline of latest U.S. strikes on Iran
U.S. Central Command said it launched strikes against Iran on Tuesday after tanker attacks in the Strait of Hormuz. CBS News senior national security correspondent Charlie D'Agata has the details.
Bessent talks Trump Accounts' July 4 debut
Treasury Secretary Scott Bessent spoke exclusively with Kelly O'Grady about inflation, gas prices and Trump Accounts, which are now available.
Bessent talks Trump accounts, inflation
Treasury Secretary Scott Bessent spoke exclusively with Kelly O'Grady about Trump accounts, which officially launch on Saturday, as well as when gas prices could lower to pre-Iran war levels and wage growth for Americans.
U.S. announces new bank alert targeting powerful drug cartel
Two men and nine companies are accused of being tied to a cartel-linked fuel theft ring intended to evade taxes while generating tens of millions of dollars annually.
Treasury Department plans to use Iranian assets to help U.S. Gulf allies recover
The Treasury Department will use Iranian assets to help U.S. Gulf allies recover from damage caused by Tehran's regime, a source familiar with Treasury Secretary Scott Bessent's thinking told CBS News.
Trump, DOJ settle $10 billion lawsuit
President Trump and the Justice Department reached a settlement Monday in his $10 billion lawsuit against the IRS and Treasury Department over his leaked tax returns. CBS News' Jake Rosen has more.
U.S. sanctions alleged "gatekeeper" of cartel human smuggling routes
The Cartel del Noreste has been accused of trafficking weapons, drugs and people, and is characterized by its violent practices and extortion.
Trump's signature to be featured on U.S. paper currency, Treasury says
The Treasury Department plans to add President Trump's signature to new U.S. paper currency, a first for a sitting president.
U.S. sees rounding problem as pennies dwindle
Months after the U.S. minted its last penny, Americans are experiencing a shortage of the one-cent coin. CBS News reporter Kati Weis has the details on how some states are working on legislation to address the rounding issue in cash purchases.
Rep. Rick Crawford on Iran's new leader, more
Treasury Secretary Scott Bessent said Thursday that the U.S. will escort ships through the Strait of Hormuz as Iran ramps up attacks on the crucial shipping channel. Republican Rep. Rick Crawford of Arkansas, chair of the House Intelligence Committee, joins "The Takeout" to discuss the state of the war.
Bessent defends Powell probe, Trump Accounts
In an interview with CBS News, Treasury Secretary Scott Bessent defended the DOJ investigation into Fed Chair Jerome Powell, saying, "I think that the message is that independence does not mean no accountability." He also addressed the new Trump Accounts, which are tax-deferred investment accounts created for every American child born between January 1, 2025 and December 31, 2028.
Read the full transcript of Kelly O'Grady's interview with Scott Bessent
Treasury Secretary Scott Bessent addressed the ongoing investigation into Federal Reserve Chair Jerome Powell and the White House's new $1,000 "Trump Accounts" in an interview with Kelly O'Grady. Read the full transcript of their conversation.
Bessent touts Trump Accounts as rainy day fund, slams critics as "out of touch"
Treasury Secretary Scott Bessent emphasized the benefits of Trump Accounts and addressed affordability concerns in an interview with CBS News.
Full interview: Treasury Secretary Bessent
U.S. Treasury Secretary Scott Bessent sits down with "CBS Saturday Morning" co-host Kelly O'Grady to discuss the Department of Justice's ongoing investigation into Federal Reserve Chair Jerome Powell, respond to critics of Trump Accounts and more.
Live
Iran-backed Houthis tighten grip on key oil shipping lane
The moves by the Houthis make it easier for the Iran-backed rebels to target ships transiting the crucial Bab el-Mandeb Strait for Saudi Arabian oil exports.
Trump says he would "love" a unified Ireland as he kicks off visit
President Trump's visit to Ireland mixes official talks with Irish leaders and attendance at the Irish Open at a golf course that the president owns.
Anthropic CEO calls for slowdown of AI development amid safety concerns
In a blog post, Anthropic CEO Dario Amodei cautioned that swarms of rogue AI agents could take over the internet in as little as six months.
Former Army secretary praises Ukraine in 1st public appearance since resigning
During his 18 months as Army secretary, Dan Driscoll pushed the U.S. military to apply lessons from the war in Ukraine.
CIA declassifies dozens of never-before-seen 9/11 documents
The CIA released 71 reports from the months and years leading up to 9/11, providing a new look at what the spy agency told two presidents before the deadly strikes.
Exclusive
An exclusive look aboard the USS George Washington in its role in the Iran war
The USS George Washington, with its approximately 5,000 personnel, fighter jets and munitions, is the backbone of the U.S. military's tactical operation in the Iran war.
El Niño creates record-low Atlantic hurricane season
An El Niño pattern occurs every two to seven years.
President Trump's childhood home sells after renovation
The president lived at the Tudor-style Queens estate until age 4.
First on CBS
Navy sailor appeared on stage at partisan GOP convention
A Navy sailor who was still on active duty as of this week appeared at the Republican midterm convention on Thursday.
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.
U.S. women beat Spain 76-66 to reach the FIBA World Cup final against France
Breanna Stewart scored 16 points and Kahleah Copper added 13 to help the U.S. beat Spain 76-66, advancing to the championship game of the women's FIBA World Cup.
Former Army secretary praises Ukraine in 1st public appearance since resigning
During his 18 months as Army secretary, Dan Driscoll pushed the U.S. military to apply lessons from the war in Ukraine.
President Trump's childhood home sells after renovation
The president lived at the Tudor-style Queens estate until age 4.
Anthropic CEO calls for slowdown of AI development amid safety concerns
In a blog post, Anthropic CEO Dario Amodei cautioned that swarms of rogue AI agents could take over the internet in as little as six months.
MoneyWatch
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Trump admin. to send $500 checks to nearly 1 million ACA enrollees
Affordable Care Act recipients in 30 states are set to receive the $500 checks starting in October. Here's why.
See how your income tax bracket could change for 2027
The adjustment could provide financial relief for taxpayers who find that more of their income is taxed at lower rates, a Bloomberg analysis suggests.
How lower-paid workers are getting their biggest pay raise in years
Some workers are seeing stronger wage growth by switching jobs, while others are "job-hugging" because of AI, research shows.
Fed rate hike likelihood jumps to nearly 90% after hotter CPI report
Investors believe the Fed will raise borrowing costs as it works to tame inflation, which has risen a full percentage point since the Iran war started.
Record-setting cyclospora outbreak is over, U.S. health officials say
The Centers for Disease Control and Prevention said there is no longer a risk of people getting sick with cyclosporiasis from this outbreak and is confident that all related iceberg lettuce is off the market.
Politics
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Former Army secretary praises Ukraine in 1st public appearance since resigning
During his 18 months as Army secretary, Dan Driscoll pushed the U.S. military to apply lessons from the war in Ukraine.
President Trump's childhood home sells after renovation
The president lived at the Tudor-style Queens estate until age 4.
Trump says he would "love" a unified Ireland as he kicks off visit
President Trump's visit to Ireland mixes official talks with Irish leaders and attendance at the Irish Open at a golf course that the president owns.
Exclusive
An exclusive look aboard the USS George Washington in its role in the Iran war
The USS George Washington, with its approximately 5,000 personnel, fighter jets and munitions, is the backbone of the U.S. military's tactical operation in the Iran war.
Gen. Dan Caine reflects on responding to 9/11: "No doubt" nation was at war
Now the chairman of the Joint Chiefs of Staff, Gen. Dan Caine was a young fighter pilot mobilized in the response on Sept. 11, 2001.
HealthWatch
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Strange symptom and a "weird" referral led to surprise Stage 4 cancer diagnosis
Kate Ping thought she was just stressed out. A nurse practitioner's surprising recommendation led to a shocking diagnosis.
Trump admin. to send $500 checks to nearly 1 million ACA enrollees
Affordable Care Act recipients in 30 states are set to receive the $500 checks starting in October. Here's why.
Record-setting cyclospora outbreak is over, U.S. health officials say
The Centers for Disease Control and Prevention said there is no longer a risk of people getting sick with cyclosporiasis from this outbreak and is confident that all related iceberg lettuce is off the market.
Coroner releases details on 2 infant deaths in Pennsylvania measles outbreak
Neither infant was old enough to be vaccinated. The first dose of the measles vaccine is typically given at around 1 year of age.
How donating blood could reveal clues about your own health
Amid a national blood supply crisis, Dr. Courtney Lawrence sat down with Norah O'Donnell to talk about donating blood, health myths and more.
World
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Putin warns Europe against sending troops to Ukraine
Russian President Vladimir Putin warned that sending European troops into Ukraine would amount to direct conflict with Russia.
Former Army secretary praises Ukraine in 1st public appearance since resigning
During his 18 months as Army secretary, Dan Driscoll pushed the U.S. military to apply lessons from the war in Ukraine.
Train derailment in France injures 44, police suspect sabotage
The regional train was carrying 186 passengers from Rouen to Caen when it derailed Friday evening in Cleon.
Trump says he would "love" a unified Ireland as he kicks off visit
President Trump's visit to Ireland mixes official talks with Irish leaders and attendance at the Irish Open at a golf course that the president owns.
Suspects in $6 million romance scam targeting women extradited to U.S.
The men, who were arrested in the South African city of Cape Town in 2021, are set to be handed over to officials from the FBI.
Entertainment
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Entertainment
9/12: Saturday Morning
President Trump's trip to Ireland, the artist who sketched Ground Zero, a travel expert's top honeymoon destinations and much more.
Jason Scott & The High Heat play "Fast As I Can Crawl"
Hailing from Oklahoma City, roots-driven country band Jason Scott & The High Heat is on the rise. Headliner Jason Scott spent years training as a preacher until he experienced a crisis of faith, an experience that shaped his songwriting. The band's upcoming album "Playboy" captures their electrifying sound. Here's Jason Scott & The High Heat with "Fast As I Can Crawl."
Jason Scott & The High Heat play "When Love Tries To Hurt You"
Hailing from Oklahoma City, roots-driven country band Jason Scott & The High Heat is on the rise. Headliner Jason Scott spent years training as a preacher until he experienced a crisis of faith, an experience that shaped his songwriting. The band's upcoming album "Playboy" captures their electrifying sound. Here's Jason Scott & The High Heat with "When Love Tries To Hurt You."
Jason Scott & The High Heat play "Too Good, Too Bad"
Hailing from Oklahoma City, roots-driven country band Jason Scott & The High Heat is on the rise. Headliner Jason Scott spent years training as a preacher until he experienced a crisis of faith, an experience that shaped his songwriting. The band's upcoming album "Playboy" captures their electrifying sound. Here's Jason Scott & The High Heat with "Too Good, Too Bad."
Nashville airport one step closer to being renamed for Dolly Parton
The Metro Nashville Airport Authority board voted 6-0 on Friday to begin the process of changing the name and said a final name has not been chosen.
Technology
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Technology
The biggest real-world risks of AI
A number of tech insiders have voiced concerns and given dire warnings in recent days about the rapid growth of AI. CBS News' Jo Ling Kent and Maya Blackstone have more.
Are bioweapons a looming AI threat?
Some tech insiders are sounding the alarm on the dangers of artificial intelligence, which could be used to disable critical infrastructure or create biological weapons. Dr. Céline Gounder weighs in.
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.
AI could "kill us all," researcher says
Two tech insiders are sounding the alarm on artificial intelligence. Former Anthropic researcher Jacob Coxon warns that AI could "kill us all," and now former Google DeepMind researcher Alex Turner warns that society is "just not prepared."
Ex-Anthropic researcher warns AI could grow "smart enough to kill us"
The development of AI "doesn't look that different from say, 'Terminator,' or from science fiction films," Jacob Coxon said.
Science
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Anthropic CEO calls for slowdown of AI development amid safety concerns
In a blog post, Anthropic CEO Dario Amodei cautioned that swarms of rogue AI agents could take over the internet in as little as six months.
First-ever adult T. rex trackway found in North Dakota
Paleontologists have identified the first known trackway made by a full-grown Tyrannosaurus rex, and the discovery was made in the North Dakota badlands.
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.
Crime
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Crime
Lindsay Clancy juror speaks out
Paula Devlin, a juror in the murder trial of Lindsay Clancy, sat down with Shanelle Kaul to share her experience with the high-profile case and tense deliberations that ultimately ended in a mistrial.
Man arrested in death of Tasia Fortune, woman found hanging from tree
Mississippi police have arrested a man in the death of Tasia Fortune, a Black woman found hanging from a tree last month.
State of al‑Qaeda 25 years after 9/11 attacks
25 years after 9/11, we rarely hear about the state of the organization responsible for the attacks. The Atlantic recently put out a piece on al-Qaeda that says in part, "analysts can't decide if the terrorist organization is all but defunct or more threatening than ever." The article's author, Graeme Wood, joins "The Takeout" to discuss.
New terror threats against U.S. post 9/11
The FBI is warning of potential attacks on 9/11 remembrance ceremonies as terrorist groups call for new strikes on U.S. soil. Anna Schecter has more.
Suspects in $6 million romance scam targeting women extradited to U.S.
The men, who were arrested in the South African city of Cape Town in 2021, are set to be handed over to officials from the FBI.
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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Latest CBS News Videos
How to find a good financial planner
Jill Schlesinger answers your personal finance questions.
9/12: Saturday Morning
President Trump's trip to Ireland, the artist who sketched Ground Zero, a travel expert's top honeymoon destinations and much more.
The artist who sketched Ground Zero
Artist John Coburn went to Ground Zero after the 9/11 attacks, drawing the scenes of destruction, recovery, and everyday life there as a way to transmute pain into art. Coburn spoke with Nicole Sganga about his "Healing Hearts" collection, which he sent to families of victims, survivors and first responders.
NFL season preview with Joe Musso
CBS Sports' Joe Musso looks ahead as the NFL season ramps up.
Sunday on 60 Minutes: The pardon economy
Tune in Sunday at 7:30p ET/PT for a 60 Minutes hidden camera investigation into a lucrative business: brokering pardons for felons. Lobbyists offer a chance at clemency — at a cost, and with no guarantees.