Home prices in the U.S. climb to record $416,000
But sales of previously occupied homes have slowed sharply amid higher mortgage rates and rising prices.
Economy
How to avoid financial fraud and tax scams
CBS News business analyst Jill Schlesinger joins “CBS Mornings” to discuss IRS scams and how to avoid them. She shares red flags to watch for, and how to report them to the government.
CBS Evening News, July 15, 2022
Biden holds controversial meeting with Saudi crown prince; "CBS Evening News" viewers help raise $45,000 for family struggling to afford gas
Goldman Sachs' CEO on small businesses
Goldman Sachs' CEO David Solomon joins “CBS Mornings” with his financial outlook and why the company is trying to get more support for small businesses.
Making sense of the economy amid inflation
Economists were spot on that our post-pandemic recovery will not follow the normal rules. However, we now find ourselves watching inflation skyrocket as fuel prices fall. Derek Thompson, staff writer at the Atlantic, joins CBS News to discuss his latest piece, titled "The Everything-Is-Weird Economy."
Federal Reserve signals possible rate hike
The Federal Reserve is signaling it could again raise interest rates. Matt Luzzetti, senior U.S. economist at Deutsche Bank, speaks with CBS News’ Adriana Diaz on what this could mean for American consumers.
Europe feels pain of soaring fuel costs as Ukraine war drags on
In Italy more people are heading to food banks, while Germans are turning down the AC to prep for energy rationing.
Open: This is "Face the Nation with Margaret Brennan," July 17
This week on “Face the Nation with Margaret Brennan,” with inflation now hitting over 9%, we have a string of guests to talk about the state of the American economy as experts fear a recession is coming. Plus, more on the subpoena to the U.S. Secret Service sent by the House select committee investigating the Jan. 6 attack on the U.S. Capitol with member Rep. Adam Kinzinger.
Viewers donate to family struggling to afford gas
"CBS Evening News" viewers helped raised more than $45,000 for a family who was struggling to pay for gas to get their daughter who has cancer to her medical appointments. The family won't have to rely on high-interest payday loans to buy gas thanks to the donations.
TechWatch: Tech companies upping layoffs
Technology companies have increasingly laid off workers in recent months. CBS News tech reporter Dan Patterson dives into the pattern of more layoffs and slower hiring.
This week on "Face the Nation with Margaret Brennan," July 17, 2022
Rep. Adam Kinzinger, former FDA Commissioner Dr. Scott Gottlieb and more appear on "Face the Nation with Margaret Brennan" this Sunday.
Stocks rally as investors look for "pockets of optimism"
Investors were cheered by new data on strong consumer spending, but worries remain about the impact of high inflation.
Families struggle as inflation, gas prices soar
Inflation is pushing many Americans past their financial limits. Adriana Diaz met one family that's taking out high-interest loans to pay for gas to get their daughter to her cancer treatments.
U.S. stocks sink as investors worry Fed hikes might derail growth
"Growth fears are hitting the markets harder than inflation concerns," said one analyst.
A look at shark economics
Swimmers, surfers and businesses in Southern California have adapted to life with juvenile great white sharks. Now, researchers who have studied sharks for years are trying to understand their impact on the local economy. Carter Evans has more.
Understanding the used car market bubble
Experts warn that the market bubble for used cars might explode in the coming months. Wholesale prices for used cars reportedly increased 44% in November 2021 compared to one year before. CBS News' Tanya Rivero and Elaine Quijano sit down with Lisa Beilfuss Popeo, a senior writer for Barron's, to discuss the used car market, its relation to a rise in car repossessions, and when Americans can expect the market to stabilize.
Inflation surges in June
Inflation hit a fresh 40-year record in June, with consumer prices increasing 9.1% . It's the fastest increase in prices since November 1981, and above what economists had expected. Nancy Chen reports.
CBS Evening News, July 13, 2022
U.S. inflation hits 41-year high; Statue of civil rights leader replaces Confederate statue at U.S. Capitol
"Shrinkflation": Consumers getting less for their money
Consumers are getting less for their money as products get smaller and prices stay the same. Carter Evans has more on "shrinkflation."
U.S. inflation hits 41-year high
Inflation surged to a 41-year high, with the Consumer Price Index showing Americans paid more last month for just about every necessity from gas prices to rent. Nancy Chen takes a look.
Cost-of-living crisis will hit women hardest, report says
U.S. ranks No. 27 in gender parity, behind New Zealand, Rwanda and Germany which received top marks in report.
"Inventory glut" forces deep discounts
Now that orders are finally catching up from pandemic-related shipping delays, consumers are taking advantage of storewide discounts as retailers try to clear the backlog of inventory. Carter Evans reports.
Tips to prepare for a possible recession
With inflation at a 40-year high, and the Federal Reserve raising interest rates, many financial experts warn of an economic slowdown. CBS News business analyst Jill Schlesinger joins "CBS Mornings" to discuss how to protect your finances during this uncertain time.
U.S. caused $2T in climate harm to poor nations, study finds
"It's the countries that have emitted the least that are also the ones that tend to be harmed," says co-author.
Sri Lankan president flees the country amid economic crisis
Lawmakers agreed to elect a new president next week but struggled Tuesday to decide on the makeup of a new government.
3 police officers killed, 2 wounded in York County, Pennsylvania, shooting; suspect dead
Three police officers were fatally shot and two others were wounded in a shooting Wednesday.
ABC pre-empts "Jimmy Kimmel Live!" over Kimmel's Charlie Kirk comments
ABC's announcement came as media giants Nexstar and Sinclair announced they would preempt Jimmy Kimmel's show indefinitely on all their stations over his remarks.
Exclusive
Suspect arrested for allegedly making threat against Utah college where Kirk was killed
On the same day that Tyler Robinson was formally charged with killing Charlie Kirk at a Utah university, a suspect was taken into custody for allegedly making threats against the same college.
Breaking
Trump announces he's designating antifa as a "major terrorist organization"
President Trump late Wednesday called for investigations into alleged funders of antifa.
Charlie Kirk's accused assassin feared being shot by police, sheriff says
Washington County Sheriff Nate Brooksby held a news conference on Wednesday and went through the timeline of events, dispelling certain false reports that had been spreading online.
Maps show the forecast track of Tropical Storm Gabrielle
Tropical Storm Gabrielle formed Wednesday morning over the central Atlantic Ocean, becoming the seventh named storm of the 2025 Atlantic hurricane season.
Pentagon reviewing service members' social media posts on Charlie Kirk
Hegseth and each service secretary said posts mocking or celebrating the assassination of Charlie Kirk are unacceptable.
Florida executes man for 1990 triple murder, marking state's 12th execution this year
A Florida man convicted of killing his estranged wife's sister and parents and setting their house on fire was put to death Wednesday.
The IRS will soon set its 2026 tax brackets. See how yours could change.
The IRS adjusts its tax provisions for inflation every year, which can help taxpayers avoid so-called "bracket creep."