Here are Elon Musk's "most epic" goals for his vast Terafab chip plant
Elon Musk unveiled plans for a massive chip manufacturing facility in Austin, Texas, that he said will power his "galactic" aspirations.
Watch CBS News
Aimee Picchi is associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has been published by national news outlets including USA Today and Consumer Reports. Aimee frequently writes about retirement, and has been a National Press Foundation fellow for reporting on retirement and Columbia University's Age Boom Academy. She's also the editor of the Institutional Investor book "Cultivating the Affluent II," with noted wealth consultant Russ Alan Prince.
Elon Musk unveiled plans for a massive chip manufacturing facility in Austin, Texas, that he said will power his "galactic" aspirations.
The reclusive billionaire bought a majority stake in OnlyFans in 2018, growing the site into a major adult content platform.
Crude oil prices also dropped after President Trump said the administration had held "good and productive" peace talks with Iran.
With gas closing in on $4 a gallon, the Trump administration is pulling multiple levers to tame energy prices. The results have been mixed.
Fed Chairman Jerome Powell used the phrase "we don't know" at least 14 times during his press conference. Investors are nervous.
Fed officials are grappling with a host of economic challenges, from stubborn inflation to a slowing job market.
USPS Postmaster General David Steiner said raising the price of stamps would "largely solve" the agency's financial woes.
Many Americans feel like they live in a "hamster wheel economy," said one expert who studies economic security.
Some economists think the Fed, facing inflationary pressures from rising energy prices, may not cut interest rates at all this year.
Two Democratic lawmakers are proposing tax reforms that would eliminate federal income taxes for millions of Americans.
GDP grew at a sluggish 0.7% pace in the final months of 2025 as the government shutdown hurt economic activity.
Howard Schultz said he and his wife will move to Florida as Washington weighs a roughly 10% annual tax on earnings over $1 million.
Gas prices in the U.S. have surged roughly 20% since the attack on Iran. Read on to see what measures the Trump administration could take to offer relief.
Surging global oil prices due to the Iran war are leading to a spike in gasoline costs for U.S. motorists.
Job cuts at a Whirlpool factory in Iowa underscore the challenges in reviving American manufacturing. "Every day, workers' jobs are still in jeopardy," a union official said.