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The Dow Jones Industrial Average fell more than 1,100 points Wednesday. Earlier in the day, the Federal Reserve lowered its benchmark rate a quarter-point. However, the precipitous drop in stock markets came after Federal Reserve Chairman Jerome Powell's remarks that the Fed may not slash rates in 2025 as much as had initially been projected. Kelly O'Grady explains.
The Federal Reserve announced its third consecutive interest rate cut of the year on Wednesday, cutting its benchmark rate by a quarter point. Interest rates have now been slashed by a full percentage point since September. CBS News contributor Javier David breaks down its impact.
The Federal Reserve cut interest rates Wednesday for the third consecutive month, slashing rates by a quarter percentage point. It was the Fed's final rate decision before the inauguration of President-elect Donald Trump, who has been a longtime critic of Federal Reserve Chairman Jerome Powell. CBS News MoneyWatch correspondent Kelly O'Grady joins to break down the move.
President-elect Donald Trump's proposed tariffs on Canada haven't even gone into effect and they've already plunged Prime Minister Justin Trudeau's government into turmoil. On Monday, Trudeau's finance minister and deputy prime minister resigned, sharing a sharply critical assessment of her old boss in a public letter. Mercedes Stephenson, Ottawa bureau chief for Canada's Global News, joins "America Decides" to discuss Trudeau's future.
The Federal Reserve's Jerome Powell weighed in on the state of the U.S. economy after announcing another cut to the interest rate. CBS News business analyst Jill Schlesinger has more on what's expected next.
President-elect Donald Trump held his first post-election news conference Monday. While speaking to reporters at his Mar-a-Lago estate in Florida, Trump addressed a range of issues including his Cabinet picks, foreign policy and trade. CBS News chief Washington correspondent Major Garrett has the details.
Gary Cohn, the IBM vice chairman who served as an economic adviser in Trump's first term, tells "Face the Nation with Margaret Brennan" that President-elect Donald Trump is inheriting a "very good economy, a very stable economy" and "net-net, we are talking about a very positive business and cycle going forward into 2025."
Rarely in American politics has a new industry spent so much money, with such apparent impact, as the cryptocurrency business did in the last election. This Sunday, Margaret Brennan reports on the industry's hopes for the new “pro-crypto” administration.
President-elect Donald Trump's promise to impose tariffs could cause toy prices to increase, as 85% of those sold in the U.S. are imported from China. NPR chief economics correspondent Scott Horsley joins "The Daily Report" to discuss the tariffs' potential impact on the toy industry.
President-elect Donald Trump returned to his hometown of New York City on Thursday to ring the opening bell at the New York Stock Exchange. Wall Street investors seem to have embraced the incoming administration as all three major indexes have hit record highs since Election Day. CBS News MoneyWatch correspondent Kelly O'Grady breaks it down.
President-elect Donald Trump rang the opening bell at the New York Stock Exchange on Thursday to celebrate being recognized as Time's Person of the Year once again. In an interview with the magazine, Trump reiterated his plan to carry out mass deportations when he takes office. CBS News congressional correspondent Nikole Killion has more.
President-elect Donald Trump will succeed Taylor Swift as Time Magazine's Person of the Year. It's the second time Trump has been awarded that distinction. CBS News' Nikole Killion and Jennifer Jacobs have more.
President-elect Donald Trump visited Wall Street and the New York Stock Exchange Thursday morning where he rang the opening bell to start trading for the day. CBS News MoneyWatch correspondent Kelly O'Grady and CBS News contributor J.D. Durkin have more on Trump's visit and the state of the economy.
The annual inflation rate in the U.S. ticked up slightly in November. The Bureau of Labor Statistics reported that the Consumer Price Index for all items rose 2.7% in the past year, which was in line with economists' expectations. CBS News MoneyWatch correspondent Kelly O'Grady breaks it all down.
Inflation has cooled from its most recent peak, but progress in getting it to a 2% annual rate has been slow.
President-elect Donald Trump plans to deport up to 11 million undocumented immigrants. But how much will it cost? Jeremy Robbins, executive director for the American Immigration Council, joins "America Decides" to look at the impact many say will go far beyond the billions needed just to carry out the removals.
President Biden touted his economic record during a speech on Tuesday, despite high prices being a key factor in President-elect Donald Trump's win. CBS News political correspondent Caitlin Huey-Burns has more.
A federal judge has temporarily blocked the merger of grocery giants Kroger and Albertsons after a three-week hearing. The Federal Trade Commission sued over the $25 billion deal in February, asking that it be put on hold to allow more time for an FTC administrative judge to examine its potential impacts. The FTC claims that allowing Kroger and Albertsons to merge would lead to less competition in the grocery industry and higher prices.
The second Trump administration is poised to be a powerful ally for the crypto industry. President-elect Donald Trump spoke highly of cryptocurrencies on the campaign trail, and his cabinet picks reflect that, with former PayPal executive David Sacks set to serve as Trump's crypto and artificial intelligence czar. Makena Kelly, senior politics reporter for Wired, joins CBS News to dig into Sacks' background.
When pressed on his health care policy over the weekend, President-elect Donald Trump was unable to give specifics about a path forward. Political strategists Joel Payne and Matt Gorman join "America Decides" with analysis.
Only 10 states require a personal finance course for high schoolers, but one teacher says she tells her students it's the most important course they will take.
Only 10 states require a personal finance course to graduate high school, but that's changing. For "Eye on America," Meg Oliver reports on the growing trend of teaching financial literacy as a foundation for financial responsibility.
Trump wants to impose across-the-board tariffs on imported goods from both allies and adversaries, claiming it's other nations who will pay such taxes to the U.S. Treasury. But it's American consumers who will be opening their wallets.
A federal appeals court upheld a law Friday that would ban TikTok in the U.S. if the app's Chinese parent company, ByteDance, does not sell it. TikTok and ByteDance could still appeal the case to the Supreme Court. CBS News MoneyWatch correspondent Kelly O'Grady joins to unpack the challenges of reaching a deal, with the law set to take effect on Jan. 19.
New numbers from the Labor Department show the U.S. added 227,000 new jobs in November, more than expected. CBS News MoneyWatch correspondent Kelly O'Grady has a look at the report.
Polish and allied NATO warplanes shot down Russian drones that entered Poland's airspace in what NATO says was the first such intervention during the war in Ukraine.
President Trump said Tuesday he's "very unhappy" after Israel's military targeted members of Hamas in Qatar's capital of Doha.
President Trump has said he is firing Cook from her role over allegations she made false representations on mortgage agreements several years ago.
Democrat James Walkinshaw will defeat Republican Stewart Whitson in a Northern Virginia special House election to pick Rep. Gerry Connolly's successor, the Associated Press projects.
President Trump ordered the FDA to enforce rules on direct-to-consumer drug ads, after HHS Secretary Robert F. Kennedy Jr. released a report on the administration's approach to healthy outcomes for children and families.
In August, the Pentagon offered full military funeral honors to Jan. 6 rioter Ashli Babbitt, after denying her family's request for the honor in 2021.
The Supreme Court on Tuesday said it will decide whether President Trump can impose his most sweeping tariffs.
The seizure comes as President Donald Trump has declared war on Latin American drug traffickers and designated cartels foreign terrorist organizations.
The Justice Department charged the suspect, Decarlos Brown Jr., with one count of committing an act causing death on a mass transportation system.