What happens to Social Security if the U.S. breaches the debt ceiling?
Millions of Social Security recipients "need to be very careful" about spending because payments could be delayed, one expert said.
Economy
5/11: CBS News Mornings
Title 42, the pandemic-era border policy, ends today; drop in commercial property values could impact U.S. pension plans.
New economic data signals easing inflation
Economic data released Thursday shows that U.S. wholesale price increases decelerated in April and unemployment claims increased in the week ending May 6. Meanwhile, Treasury Secretary Janet Yellen warns that if the U.S. defaults on its debt, it could threaten the global economy. Jeanna Smialek, a Federal Reserve and economy reporter at the New York Times, joins CBS News to discuss.
Yellen: U.S. default would be a "catastrophe"
The treasury secretary also told G-7 finance ministers and central bank chiefs meeting in Japan that a first-ever U.S. default on its debts is "unthinkable."
Investors react as inflation slows
Stocks closed relatively flat Wednesday following the release of Consumer Price Index data for April. Wells Fargo senior global markets strategist Scott Wren joins CBS News to explain what the new inflation numbers mean for consumers and investors.
Consumer Price Index up 0.4% in April
The Consumer Price Index shows inflation rose 0.4% between March and April. Prices rose 4.9% year-over-year. Axios managing editor for business and markets and CBS News contributor Javier David discusses what this means for the economy with Anne-Marie Green and Vlad Duthiers.
What a default could do to the U.S. economy
"No one should assume that the Fed can… really protect the economy and the financial system, and our reputation globally, from the damage such an event might inflict," Federal Reserve Chairman Jerome Powell said.
Where lawmakers can compromise on debt limit
President Biden hosted top congressional leaders at the White House Tuesday afternoon to discuss the debt ceiling standoff. Mark Zandi, chief economist for Moody's Analytics, joins with a look at where talks could go in the coming weeks.
Biden, McCarthy speak out after debt summit
President Biden met with top congressional leaders Tuesday, trying to prevent the economic chaos a default would cause if an agreement isn't reached on the debt ceiling. After the meeting, the president pointed out how far apart the two sides are. CBS News chief White House correspondent Nancy Cordes reports.
Corporate profits could be fueling inflation
Some companies are raising prices faster than costs are increasing, fueling inflation. CBS News' Tony Dokoupil and Errol Barnett are joined by Wall Street Journal reporter Paul Hannon with more.
China increasing automobile exports
China's automotive exports have tripled over the last five years. Many of its newest vehicles are hybrid or fully electric. Elizabeth Palmer reports.
April job growth beats expectations
The Labor Department's latest report shows employers added 253,000 jobs in April. Daniel Altman, chief economist at Instawork, breaks down the findings.
Latest jobs report shows strong economic growth
The U.S. added 253,000 jobs in April, according to a report released Friday by the Labor Department, well above estimates from economists. Unemployment also fell to 3.4%, and wages were also higher. Ed O'Keefe has the details.
How AI could change certain types of work
The popularity of artificial intelligence has exploded, and its impact could stretch across industries. Nancy Chen takes a look at what it could mean for many types of jobs.
European Central Bank raises interest rates
Inflation in the Eurozone ticked up to 7% in April. The European Central Bank raised interest rates to 3.25% and indicated more hikes are to come. Brendan McKenna , an international economist for Wells Fargo, joined CBS News to compare the ECB and Federal Reserve's approaches to inflation.
CEO pay continues to rise
Salaries for top CEOs rose 7.7% last year, even as most Americans are struggling to keep up with inflation. CBS MoneyWatch associate managing editor Irina Ivanova joins Errol Barnett and Elaine Quijano with more.
U.S. adds 253,000 jobs in April
Employers in the U.S. added 253,000 jobs in April, and the nation's unemployment rate fell to 3.4% from 3.5% in the prior month, the Labor Department said. CBS News business analyst Jill Schlesinger joined Anne-Marie Green to discuss the jobs report.
What bank stock falls could mean for economy
Federal Reserve Chair Jerome Powell began a press conference Wednesday saying "the U.S. banking system is sound and resilient." Yet several regional bank shares were on the decline Thursday. Wall Street Journal banking reporter Gina Heeb breaks down the possible implications for the economy.
How to save money as inflation remains high
Many Americans are struggling to save money as inflation keeps costs high. Jennifer Streaks, a senior personal finance reporter for Business Insider, shares tips on how to increase financial stability.
How interest rate hikes affect debt, loans
The Federal Reserve increased its key interest rate by a quarter of a point Wednesday, the 10th straight hike since last March. Anita Hamilton, assistant managing editor at Barron's, joined CBS News' Vladimir Duthiers and Anne-Marie Green to discuss the effects of the hikes.
Biden aide on debt ceiling, immigration, 2024
Anita Dunn, one of President Biden's highest-ranking White House aides, called on lawmakers to "update our immigration laws to reflect the realities of 2023," noting that the last time Congress passed major immigration legislation was decades ago. Watch her interview with CBS News political correspondent Caitlin Huey-Burns.
Interest rates could alter Biden's reelection
The Fed has raised interest rates again. Nancy Cordes joins "CBS News Mornings" to explain the impact this could have at the White House.
Fed increases interest rates to 16-year high
The Federal Reserve raised its key interest rate another quarter of a percentage point Wednesday in its ongoing effort to bring inflation down. The increase is the 10th straight interest-rate hike since last March in what has been the most aggressive rate-hiking campaign since the 1980s. The hikes are among factors being blamed for the biggest banking sector meltdown since the 2008 financial crisis. Nancy Cordes has more details from the White House.
Why are earthquakes getting more expensive?
The estimated annual cost from earthquake damage is soaring in California, and it already makes up more than half of the nation's annual earthquake costs. Los Angeles Times reporter Rong-Gong Lin II joined CBS News to discuss the possible reasons behind the increase.
Interest rates highest since 2007
The Federal Reserve pushed interest rates to the highest point since 2007 to combat inflation. Critics warn the hikes could lead to a recession. Nancy Cordes reports.
How Charlie Kirk's assassination portends a national crisis
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.
Suspect in Charlie Kirk killing is not cooperating with authorities, gov says
Tyler Robinson, 22, was arrested on charges of aggravated murder, obstruction of justice and felony discharge of a firearm for the assassination of Charlie Kirk.
Colorado school shooter had account on "violent gore" site, ADL says
Desmond Holly and several school shooters in the past year were active on the same website, the ADL says.
Sen. Chris Coons: The internet "is driving extremism in our country"
In a joint segment with Republican Sen. James Lankford, Democratic Sen. Chris Coons said amid efforts to foster bipartisan discourse, the internet "is driving extremism in our country."
Ukrainian drones target one of Russia's top oil refineries
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.
White House requests $58 million to increase security for executive, judicial branches
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 legislature votes to phase out "forever chemicals" in cookware
California lawmakers voted to phase out a group of chemicals known as PFAS, which are often called "forever chemicals," in cookware.
Venezuela accuses U.S. of seizing fishing boat in Caribbean amid standoff
Venezuela's foreign ministry said nine fishermen were "illegally and hostilely" detained on Friday by the USS Jason Dunham.
Ex-world boxing champion Ricky Hatton found dead at age 46
Ricky Hatton shared the ring with the best boxers of his generation, including Kostya Tszyu, Floyd Mayweather and Manny Pacquiao.