High mortgage rates creating challenges for buyers
With mortgage rates hovering above 7% for five straight weeks, prospective buyers are facing a housing shortage as would-be sellers seek to keep their low, locked-in rates. Nancy Chen has details.
Economy
Federal Reserve pauses interest rate hikes
The Federal Reserve left interest rates unchanged in its September meeting in spite of inflation accelerating in August and remaining above the central bank's target rate. CBS News business analyst Jill Schlesinger and CBS News senior White House and political correspondent Ed O'Keefe have the latest.
Interest rate hike not expected this month
The Federal Reserve is expected to announce its decision on another possible interest rate hike Wednesday afternoon. Jeanna Smialek, a Federal Reserve and economics reporter for The New York Times, joined CBS News to discuss the chances of a rate increase.
How long could the UAW strike last?
1,300 members of the United Auto Workers union are on strike across three production plants and more could follow. Seth Harris, former top labor official in the Biden and Obama administrations, joins CBS News to unpack the historic autoworkers strike.
Poll shows concern about Biden & economy
As President Biden touts the nation's economic progress, many Americans think it's getting worse. A new Suffolk University Sawyer Business School and USA TODAY poll found more Americans trust former President Trump than Mr. Biden to fix the economy by a 47 to 36% margin. Joey Garrison, USA TODAY's White House correspondent, joined CBS News to discuss the findings.
Wholesale inflation on the rise
Wholesale inflation saw its biggest month-to-month gain since June 2022 last month, with the Producer P rice Index rising seven-tenths of a percent between July and August. Alcynna Lloyd, reporter for Insider, joined CBS News to discuss the numbers.
PPI for August higher than expected
The producer price index rose seven-tenths of a percent in August, a spike driven by the cost of energy. Hope King, senior business reporter for Axios, joined CBS News to discuss what the number means and if it will lead to another interest rate hike from the Fed.
If the economy is recovering, why don't people rate it better?
Because for many Americans, their personal situation is still worse than it was before the pandemic.
Gas price spike leads to rise in CPI
The Consumer Price Index rose six-tenths of a percentage point in August, largely driven by a spike in gas prices. CBS News contributor Javier David has more on what the number could mean for interest rates.
UAW strike talks loom over Detroit Auto Show
New technology is on display at the Detroit Auto Show Wednesday, but this year's event could be overshadowed by a major strike with UAW's contract with the big three automakers that expires Thursday. David Welch, Detroit bureau chief for Bloomberg News, joined CBS News to discuss the labor talks and the show.
Poverty in America soared last year, especially among kids
Incomes fell in 2022 and more people fell into poverty after the end of pandemic benefits like stimulus checks.
Biden looks to Vietnam, India for trade
President Biden spent his weekend in India and Vietnam, pitching the U.S. as an alternative trade partner to China. Adam Posen, president of the Peterson Institute for International Economics, joins CBS News to discuss what the move means for the contentious relationship between the two superpowers.
Google heads to court in landmark trial
The Justice Department is accusing Google of shouldering out competitors by making deals with phone makers to be the dominant search engine on their devices. The trial begins Tuesday and could go on for weeks. George Hay, former director of economics at the Department of Justice's antitrust division, joins CBS News to unpack the case.
Rents are falling more slowly in U.S. suburbs than in cities.
For decades, one of the draws to moving to the suburbs included renting a place for less than what you'd find in the city. But that may not be the case for much longer as the gap between the two is steadily shrinking.
Biden heads to G20 as Putin, Xi skip summit
President Biden arrives in India Friday for the G20 summit, where leaders of the world's largest economies are expected to discuss economic development, climate change and infrastructure. Noticeably absent will be China's Xi Jinping and Russia's Vladimir Putin, who will meet with North Korean leader Kim Jong Un to discuss a weapons deal. CBS News' Ed O'Keefe reports from New Dehli.
Biden travels to India for G20 summit
President Biden travels to India Thursday where he will join leaders and representatives of the world's biggest economies for the G20 summit in New Delhi. CBS News senior White House and political correspondent Ed O'Keefe has more on the trip.
Oil cuts abroad could impact interest rates
Saudi Arabia and Russia have agreed to extend their voluntary oil production cuts through the end of 2023 -- a move that's already driving prices up. Carolyn Kissane, associate dean at New York University's Center for Global Affairs, joins CBS News to discuss how higher oil prices could also impact interest rates in the U.S.
India grows as an investment target
India became the first country to land a rover near the moon's south pole last month and the nation will also host the G20 Summit this weekend. Cameron Brandt, director of research at data firm EPFR, joined CBS News to discuss some of the factors that have led to India's rise.
Child care costs rise as federal funding ends
A wave of child care center closures is coming due to an end in stimulus money. Betsey Stevenson, professor of public policy and economics at the University of Michigan, joins CBS News to discuss how this will affect both American families and the economy.
How empty office space hurts the economy
As Americans continue working from home, several U.S. cities are having trouble filling office space. But office vacancy isn't just a problem for individual businesses — it leads to negative economic consequences and creates an "urban doom loop." Washington Post economics reporter Rachel Siegel explains.
Student loan payments resuming next month
Student loan repayments are set to resume in October after being paused over three years ago at the start of the COVID-19 pandemic. Carter Evans takes a look at how the resumption will impact Americans.
Jobs report shows jump in unemployment
Unemployment jumped from 3.5% to 3.8% this month, a sign that the job market is cooling. The market also added 187,000 jobs. The Biden administration said this showed more people joining the workforce. Meanwhile, the Federal Reserve is considering another interest hike amid soaring inflation. Christina Ruffini reports.
U.S. employers add 187,000 new jobs in August
The U.S. economy added 187,000 jobs in August, slightly higher than expected, while the nation's unemployment rate jumped sharply to 3.8%, the Department of Labor reported Friday. Barron's senior writer Al Root joined CBS News to discuss the latest numbers.
New business openings on the rise nationwide
Americans are opening more new businesses in 2023 compared to 2022, according to the Census Bureau. Hope King, senior business reporter at Axios, joins CBS News to explore the reasons behind the boom.
Report shows U.S. job growth slowed in August
Management services company ADP released data Wednesday morning showing job creation slowed in August. Javier David, Axios managing editor for business and markets and a CBS News contributor, has more on what that means for another possible interest rate hike.
AI fuels false claims after Charlie Kirk's death, analysis reveals
X's AI chatbot Grok, the AI-search engine Perplexity and Google's AI summaries all provided false information in the aftermath of Charlie Kirk's assassination.
Erika Kirk speaks out for first time since Charlie Kirk shooting
Erika Kirk, the widow of Charlie Kirk, speaks out for the first time since her husband's death on Wednesday.
Trump calls on NATO countries to stop buying Russian oil to end Ukraine war
Mr. Trump said that NATO's commitment to winning the war in Ukraine "has been far less than 100%."
Details emerge about Charlie Kirk shooting suspect. Here's what we know.
Conservative activist Charlie Kirk was shot and killed on Wednesday while speaking an event at Utah Valley University.
ICE agent shoots, kills man in Chicago suburb; agent also injured
An ICE agent shot and killed a man in Franklin Park, Illinois, Friday morning after authorities say he attempted to drive into agents as they tried to make an arrest.
Secret Service puts agent on leave who wrote negative post about Charlie Kirk
A U.S. Secret Service agent who wrote a negative social media post about Charlie Kirk has been put on leave, U.S. officials said Friday.
Missouri lawmakers pass GOP redistricting plan backed by Trump
Missouri is the third state to seek to redraw its congressional maps ahead of next year's midterms.
Uber denies rides to passengers with disabilities, Justice Department says
The Justice Department filed a $125 million lawsuit against Uber, alleging the company discriminates against disabled passengers.
Smoke cloud from meth seized by FBI sickens Montana animal shelter workers
Fourteen animal shelter workers were evacuated and went to the hospital. The shelter's 75 dogs and cats were relocated or put into foster homes.