CPI edged higher in December, complicating the Fed's rate decision
Inflation is proving stickier than expected, which could cause Fed to hit pause button on more interest rate cuts.
Federal Reserve
Stock market plunges after December jobs report
The Labor Department reported Friday that 265,000 jobs were added to the U.S. economy in December, which was roughly 100,000 more than expected. The unemployment rate also fell to 4.1%. CBS News contributor Javier David explains why investors see the better-than-expected jobs report as a bad thing.
Where are mortgage, CD and credit card rates heading in 2025?
The Fed has been pushing down borrowing cuts since September, yet mortgage rates remain close to 7%. Here's what to expect in 2025.
What is the state of the job market?
The number of Americans applying for unemployment benefits fell slightly last week. Meanwhile, the average 30-year mortgage rate hit 6.85%, the highest since July. CBS News contributor Javier David breaks it down.
The impact of sticky inflation on Americans
2024 was a departure from the high inflation numbers of just two years ago, but the fight against rising prices is not over. CBS News MoneyWatch correspondent Kelly O'Grady looks back on the biggest economic and business stories of the year.
Mortgage rates increase despite Fed's rate cut
The Federal Reserve announced its third interest rate cut of the year this week. But despite the good news for consumers, mortgage rates are still rising. Bankrate senior industry analyst Ted Rossman joins "The Daily Report" to discuss.
Federal Reserve slashes rates again
The Federal Reserve said it is lowering rates by a quarter of a percentage point on Wednesday, marking a full percentage point drop since September. CBS News business analyst Jill Schlesinger explains the impact on your finances.
Dow plunges after Powell's comments on rate cuts
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 Fed's rate cuts impact on Americans
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.
Fed makes final 2024 interest rate decision
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.
Fed lowers rates by 0.25 percentage point, but expects fewer cuts
The Federal Reserve on Wednesday moved to lower its benchmark rate by 0.25 percentage points, but said it plans fewer cuts in 2025.
Jerome Powell on U.S. economy after cut
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.
Here's how the Fed's interest rate cut today could impact your money
The Federal Reserve announced a third rate cut today, but also cautioned it expects fewer cuts in 2025.
Federal Reserve cuts interest rate again
The Federal Reserve announced another interest rate cut, reducing its benchmark rate by .25 percentage points. CBS News business analyst Jill Schlesinger has more on the move.
Federal Reserve decision coming
The Federal Reserve is set to announce a potential reduction to the interest rate, its final potential move in 2024. CBS News' Kelly O'Grady has more on what's expected.
Fed expected to make another rate cut
CBS News business analyst Jill Schlesinger speaks with "CBS Mornings" about what to expect and the impact of the Federal Reserve's final interest rate decision of 2024, which happens Wednesday.
Fed expected to make another interest rate cut
The Federal Reserve on Wednesday will make its final interest rate decision of 2024 with a 0.25 percentage point cut expected. CBS News MoneyWatch correspondent Kelly O'Grady has more.
Why Wall Street is anticipating Trump's term
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.
Why are prices still stubbornly high?
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.
Albertsons sues Kroger after merger blocked
Grocery giant Albertsons called off its nearly $25 billion merger with Kroger after a federal judge temporarily blocked the union Tuesday in an effort to protect consumers from increasing costs. Albertsons is also suing the rival grocery chain, claiming Kroger willfully breached the merger agreement. CBS News MoneyWatch correspondent Kelly O'Grady has the details.
Appeals court upholds potential TikTok ban
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.
Assessing potential impact of Trump's tariffs
Americans are bracing for President-elect Donald Trump's proposed tariff hikes on imported goods. CBS News MoneyWatch correspondent Kelly O'Grady looks at the potential economic impact. Then, small business owner Andy Gossett joins to discuss what the tariffs would mean for his outdoor sporting goods company.
What inflation data means for consumers
The Labor Department data released Wednesday showed that inflation ticked back up in October, which is what economists were expecting. CBS News MoneyWatch correspondent Kelly O'Grady has more on what it means for consumers.
Inflation ticks up for first time since March
The consumer price index in October rose 2.6% year-over-year, the Labor Department reported Wednesday, a higher rate than September's 2.4%. The uptick means the Federal Reserve's 2% target rate is further out of reach. Kelly O'Grady reports.
What to know about new inflation data
if a rise in inflation becomes a trend it could affect the Federal Reserve's quest to reach its target rates and keep the economy healthy. CBS News' Kelly O'Grady has more on the new data.
Trump expresses some doubt over one-on-one meeting between Putin, Zelenskyy
President Trump expressed less confidence he will be able to arrange bilateral talks between Ukrainian President Volodymyr Zelenskyy and Russian President Vladimir Putin.
Trump administration to cut 500-plus jobs at Voice of America
Kari Lake, acting CEO of the U.S. Agency for Global Media, announced the latest round of job cuts in a social media post late Friday.
Chicago mayor signs executive order against possible deployment of federal agents
The signing of the "Protecting Chicago Initiative" comes amid growing concerns of federal agents arriving in the city as soon as Friday.
3 Hurricane Katrina survivors look back 20 years later and find hope
Hurricane Katrina survivors can still describe in detail what they faced in the days after the storm devastated the Gulf Coast.
Mark Knoller, longtime CBS News correspondent, dies at 73
Mark Knoller was, to put it simply, a legend. For decades, everyone in the White House press corps knew him as the unofficial presidential historian and statistician.
Minneapolis shooting survivor now needs bullet fragment removed
Weston Halsne survived the deadly mass shooting at Minneapolis' Annunciation Catholic Church after his friend covered him as a human shield. But doctors recently discovered a bullet fragment lodged in Halsne's neck, dangerously close to an artery.
Amtrak's new high-speed Acela train a gamechanger for Northeast travelers
Amtrak's NextGen Acela high-speed trains are now racing passengers between Boston, New York and Washington, D.C., hitting top speeds of 160 miles per hour.
Powerball jackpot jumps to $1.1 billion after no winning tickets Saturday
Monday's estimated $1.1. billion drawing will be the fifth-largest in Powerball history.
Israel will soon slow or halt aid into parts of northern Gaza
Israel's military said that it had launched the "initial stages" of the planned offensive to seize Gaza City, declaring the Palestinian territory's biggest population center a "dangerous combat zone."