Inflation measure preferred by Fed shows cooling prices
The better-than-expected PCE data is increasing expectations that the Fed could cut rates in September, analysts said.
Inflation
Issues that could come up at 1st 2024 debate
President Biden and former President Donald Trump are expected to tackle several issues important to voters during Thursday night's debate. CBS News' Jo Ling Kent, Camilo Montoya-Galvez and Shawna Mizelle walk through some of them.
New poll on youngest voter turnout
About a third of U.S. voters ages 18-29 say they are not planning to vote in the 2024 election, according to a CBS News poll. Caitlin Huey-Burns spoke to some young voters about their plan to sit this election out.
Americans frustrated with economy
Inflation showed signs of cooling and both stock indexes and corporate profits are up. But many Americans aren't feeling any economic relief. Mark Strassmann looks at why.
Voters feeling frustrated with inflation
The latest CBS News poll found that 72% of Americans say higher prices have been a hardship or more difficult, and 63% rate the economy as fairly bad or very bad. Mark Strassmann on how voters are feeling amid the signs that inflation is cooling — but not fast enough for many Americans.
These 5 U.S. cities have been hit hardest by inflation
A housing shortage in Texas and minimum wage increases elsewhere are fueling higher than average inflation in some cities.
The state of inflation in the U.S.
There are some indications that prices are falling in some parts of the U.S. economy. This comes after the Federal Reserve's announcement to hold interest rates steady for now. CBS News contributor Javier E. David looks at some key economic indicators as inflation slows slightly.
Inflation eases as Fed holds rates steady
The Federal Reserve left interest rates unchanged Wednesday after the government announced consumer prices in May rose 3.3% year over year. The central bank has been hesitant to cut rates due to inflation. Ben Casselman, economy reporter for The New York Times, joins CBS News to unpack the data.
The Fed expects only one rate cut this year amid sticky inflation
The Federal Reserve kept its benchmark rate in a range of 5.25% to 5.5%, the same level where it's been parked since July 2023.
Federal Reserve holds interest rates steady
The Federal Reserve is leaving interest rates unchanged for now as it awaits a more sustained period of declining inflation in the U.S. economy. CBS News contributors J.D. Durkin and Javier E. David break down the decision.
Inflation eases in May, some prices rise
The Federal Reserve is meeting again to determine if interest rates should remain steady or be altered. The latest data by the Department of Labor shows inflation cooled slightly in May but some consumer prices, including for shelter and food, continued to rise. CBS News' Jo Ling Kent has more.
Inflation eased in May with prices rising less than expected
Key report on consumer prices comes ahead of interest-rate decision by the Federal Reserve in the afternoon.
Inflation cools more than expected in May
Price increases in the U.S. were up 3.3% from last year in May's Consumer Price Index, a smaller increase than was predicted by economists, while month-over-month prices stayed the same. CBS News business analyst Jill Schlesinger has more.
Fed set to make another decision on rates. What are the odds of a cut?
The Federal Reserve will announce its next interest rate decision on June 12. Here's what to expect — and what it means for your money.
Why is the global supply chain so fragile?
The COVID-19 pandemic dislodged the global supply chain, but the vulnerabilities in the system had already been building up for decades. A new book titled "How the World Ran Out of Everything" examines how the health crisis exposed the fragility of a system that was always at risk of collapse. Author Peter Goodman joins to discuss.
Labor market resilient despite inflation concerns
The latest jobs report showed that the U.S. added 272,000 jobs last month, significantly higher than forecasters had expected. Michael George has more.
How the Fed could react to May jobs report
The latest data from the Labor Department shows the U.S. added 272,000 jobs in May. The figure was much higher than economists expected, indicating that the market is not slowing down. CBS News senior business and technology correspondent Jo Ling Kent explains what the report means for the Fed's fight against inflation.
What to look for in the Labor Department's May jobs report
U.S. unemployment rate forecast to stay below 4% for a 28th straight month — that would be the longest stretch in more than 70 years.
European Central Bank interest rate cuts
The European Central Bank has announced a cut to key interest rates after 18 months of declining inflation in Europe's economy. CBS News' Ramy Inocencio has more.
U.S. prices cooled in April, key inflation gauge shows
Prices excluding food and energy rose at an annual rate of 2.8% in April as inflation eased after flaring earlier this year.
Abortion access finds wide support, but inflation, immigration fears propel Trump
Is the issue of abortion offsetting the drag on President Biden stemming from inflation nationally and immigration in a state like Arizona?
Why many think the U.S. is in a recession
More than half of Americans believe the U.S. is in a recession, according to a Harris poll conducted for the Guardian. CBS News contributor Javier E. David discusses the data, which shows the economy is strong despite people's sentiment.
Stores are cutting prices for inflation-weary shoppers. Here's where.
Americans who spend Memorial Day scouting sales online and in stores may find more reasons to celebrate the return of warmer weather.
Food prices up for Memorial Day 2024
Memorial Day marks the unofficial start of summer, and about half of all Americans are expected to grill over the weekend. But food prices are up this year, making those cookouts a bit more expensive. Jonathan Vigliotti reports.
Inflation to create sticker shock for vacationers
Those planning vacations this summer should buckle up for considerably higher prices. Kris Van Cleave explains.
live updates
Senate to reconvene as government shutdown continues
The 2025 government shutdown entered its sixth day on Monday with no signs of an imminent resolution. Follow live updates here.
Illinois, Chicago sue to block Trump deployment of National Guard
The state of Illinois and city of Chicago are suing the Trump administration over their plans to deploy the National Guard.
Israel and Hamas begin indirect Gaza ceasefire talks in Egypt
President Trump wants Israeli and Hamas negotiators to "move fast" in new talks aimed at securing a ceasefire in the Gaza war, spurred by his 20-point plan.
Supreme Court won't take up Ghislaine Maxwell's appeal of conviction
The Supreme Court on Monday said it will not take up a bid by Ghislaine Maxwell to overturn her 2021 conviction for sex trafficking.
Bari Weiss named editor-in-chief of CBS News as Paramount acquires The Free Press
Paramount, a Skydance Corporation, has announced the acquisition of The Free Press. Its co-founder and CEO, Bari Weiss, will join CBS News as editor-in-chief.
3 scientists win Nobel Prize in medicine for discoveries in immunology
Nobel Prize committee chair says discoveries by the trio of researchers were "decisive for our understanding of how the immune system functions."
Ex-NFL quarterback Mark Sanchez charged with felony over violent altercation
Mark Sanchez was hospitalized with multiple stab wounds following a violent altercation over the weekend.
Social Security chief Frank Bisignano also named CEO of the IRS
Treasury Secretary Scott Bessent said Bisignano will continue to lead the Social Security Administration while also taking on the new IRS role.
Costco now sells Ozempic and Wegovy at its pharmacies
A one-month supply of Ozempic and Wegovy will now cost $499 out of pocket for Costco shoppers.