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Officials on both sides of the aisle are continuing negotiations over the nation's borrowing limit. Treasury Secretary Janet Yellen warns the U.S. risks defaulting on its debt as early as June 1, just a week away. CBS News congressional correspondent Scott MacFarlane has more from Capitol Hill.
House Speaker McCarthy said Tuesday that he and President Biden are "nowhere close" to a deal on raising the debt limit. Negotiators continue to meet as the default deadline approaches. Nikole Killion has more.
About 1.5 million Americans are projected to be out of a job if the U.S. has a short-term default on its debt. That would happen within just one week of breaching the ceiling. Right now, the U.S. is on track to run out of credit June 1. Irina Ivanova, associate managing editor of CBS MoneyWatch, has more.
President Biden, Speaker McCarthy optimistic as negotiations continue and debt deadline looms; Heavy travel expected for Memorial Day weekend.
President Biden and House Speaker Kevin McCarthy will continue to meet daily to discuss the debt ceiling as the deadline looms. It is nine days away. The White House and Republicans are haggling over spending cuts, while Americans worry a possible default could impact their financial futures. CBS News chief White House correspondent Nancy Cordes reports from the White House.
The U.S. dollar has typically been the currency of choice when different nations want to trade with each other. But some are turning to the Chinese yuan. Last month, Argentina's government said it would pay for Chinese imports using the yuan due to a shortage of dollars. Brazil followed suit, announcing it will allow companies to trade in yuan. Carla Mozée, a senior markets reporter for Insider, has more on the currency shift.
President Biden and House Speaker Kevin McCarthy met about the debt ceiling at the White House less than two weeks before the default deadline. CBS News senior White House and political correspondent Ed O'Keefe and CBS News congressional correspondent Nikole Killion report.
President Biden and House Speaker McCarthy will meet in person on Monday to continue debt ceiling talks as the deadline for a government default approaches. Willie James Inman has the latest.
A new survey finds that far fewer Americans are moving for work -- just 1.6% of job seekers moved in the first quarter of 2023, compared to 45% in 1986. CBS MoneyWatch associate managing editor Irina Ivanova explains the possible reasons behind the shift.
A new Gallup poll finds 61%, or three out of five Americans, are suffering financial strain as a result of rising prices. Nearly half of those polled described the hardship as moderate. But 15% say the price increases have severely affected their ability to maintain their standard of living. Dana Peterson, the chief economist for the business research organization The Conference Board, joined CBS News with more.
Bodycam video released in New Mexico mass shooting; Man visits all seven wonders of the world in six days.
President Biden is cutting his trip to Asia short as negotiations on the debt ceiling continue. The U.S. is counting down to a June 1 deadline when the government could default on its debt. CBS News correspondent Ramy Inocencio reports on the effect a U.S. default could have on the world economy, as well as other top economic news overseas.
As young people look to make ends meet, more are turning to second and third jobs. A survey from Bank of America says that 72% of Gen Z-ers have a "side hustle," most earning between $500 and $1,000 per month. Eve Upton-Clark, a contributor for Insider who wrote an article calling Gen Z the "hustle generation," has more.
President Biden and congressional leaders met again Tuesday, but still have not reached a deal on raising the debt limit. Treasury Secretary Janet Yellen warns the U.S. may not be able to pay its bills as early as June 1. Ed O'Keefe reports.
Debt ceiling talks; retail spending trends.
Talks continue Tuesday between President Biden and congressional leaders as the June 1 federal debt limit deadline looms. This comes as the Office of Management and Budget says proposed cuts from House Republicans would cut at least 30% of all areas outside Defense, the Veterans Affairs department and Homeland Security. Weijia Jiang reports.
After a second Oval Office meeting, Republicans and Democrats have yet to come to an agreement to raise the debt ceiling and avoid an economic catastrophe. With the deadline only 15 days away, President Biden has shortened his overseas trip to work on an agreement. Weijia Jiang reports from the White House.
Debt ceiling deadline looms; North Carolina bans abortion after 12 weeks.
Rising mortgage rates are leading to a reduction in homes on the market. Rachel Siegel, an economic policy reporter for The Washington Post, joins CBS News to discuss how this affects the economy.
Special counsel points to FBI missteps over handling of Trump-Russia investigation; former president talks family life after the White House.
Research from the human resources management company ADP suggests the "Great Resignation" is over and the "Big Stay" is here. The number of people quitting their jobs has fallen 5% from the same time a year ago. Chip Cutter, a reporter for the Wall Street Journal covering workplace, management and leadership issues, has more.
President Biden is expected to meet with House Speaker Kevin McCarthy on Tuesday to resume talks on raising the debt ceiling. Ian Bremmer, president of the Eurasia Group, joins to discuss how foreign powers are reacting to the debt limit standoff.
The Congressional Budget Office said Friday there is a significant risk the U.S. won't be able to pay its bills sometime in the first two weeks of June unless lawmakers reach a deal to raise the debt ceiling. CBS News congressional correspondent Nikole Killion has the latest on where negotiations stand.
Rail strikes are affecting travel across the U.K., and it comes as the city of Liverpool prepares to host the Eurovision song contest. CBS News correspondent Ramy Inocencio joined Anne-Marie Green and Vladimir Duthiers for MoneyWatch International.
Inflation is down to 4.9% - its first time below 5% since 2021. John Leer, chief economist at Morning Consult, joins to discuss how the Federal Reserve could respond.
The murder of Charlie Kirk last week follows a litany of violent acts against political targets. Historian Jon Meacham talks about the existential questions now facing America.
The strike on the Kirishi refinery, in Russia's northwestern Leningrad region, follows weeks of Ukrainian attacks on Russian oil infrastructure that Kyiv says fuels Moscow's war effort.
Desmond Holly and several school shooters in the past year were active on the same website, the ADL says.
Earlier this month, the U.S. deported a group of non-Ghanaian nationals to Ghana, including deportees from Gambia and Nigeria.
A White House official confirmed the extra funds would be directed to the U.S. Marshals Service and would also include enhanced protection for Supreme Court justices.
California lawmakers voted to phase out a group of chemicals known as PFAS, which are often called "forever chemicals," in cookware.
Venezuela's foreign ministry said nine fishermen were "illegally and hostilely" detained on Friday by the USS Jason Dunham.
Romania's defense ministry said Saturday that the country's airspace had been breached by a drone during a Russian attack on infrastructure in neighboring Ukraine.
Conservative activist Charlie Kirk was shot and killed on Wednesday while speaking an event at Utah Valley University.