S&P 500, Dow rally to new records after Nvidia's earnings report
Nvidia's stock price surged after delivering another blowout quarter, setting off a rally in other tech stocks that carried Wall Street to another record high.
Inflation
What's driving inflation right now?
The producer price index jumped by 0.3% in January, according to a U.S. Department of Labor report released on Friday. The data is fueling concerns that the stubbornly high inflation rate may not be going away anytime soon. Lori Bettinger, president of a network of community banks known as BancAlliance, joins CBS News to break down the findings.
Inflation concerns loom in election year
As voter anxiety over the economy intensifies this presidential election year, inflation remains high at 3.1% year-over-year, despite a significant reduction. Treasury Secretary Janet Yellen talks to CBS News about the Biden’s administration's strategy in an exclusive interview.
As inflation cools, workers "are getting ahead," Treasury's Yellen says
"Americans should feel confident that inflation will come down to levels that will no longer really be noticeable or worrisome to them," Yellen told CBS News.
Janet Yellen discusses inflation, U.S. economy
Treasury Secretary Janet Yellen sat down with Jo Ling Kent in the battleground state of Michigan for an exclusive interview about the concerns many Americans continue to have about high prices. This comes after inflation rose again in January at a higher rate than expected.
The impact of inflation
Following new cost of living data revealing a slower-than-anticipated cooling in inflation and with the Consumer Price Index up 3.1% from the previous year, stocks faced significant losses. CBS News business analyst Jill Schlesinger talks about what’s driving these numbers.
Here's when experts think the Fed could start cutting interest rates
After a hotter-than-expected inflation report on Tuesday, economists now believe the Fed could postpone its first rate cut. Here's what to know.
Stocks tumble after hot inflation report
The three major stock indexes fell more than one percentage point each Tuesday after a government report showed inflation remained stubbornly high in January. CBS News contributor Javier David joins to unpack the figures.
Tips for those with student loans
Student loan payments resumed last fall, and for millions, the added bill combined with stubborn inflation makes for a difficult financial burden. One expert gives tips and advice that may help reduce costs. Nancy Chen reports.
Inflation didn't drop as expected
Although the rate of inflation still appears to be declining, in January it did not cool as targeted. Heather Boushey, a member of President Biden's Council of Economic Advisers, joins CBS News with the administration's reaction to the fresh data.
Here's why food prices, from steak to fast-food meals, are still rising
Higher food prices partly caused the hotter-than-expected inflation report. Getting pinched at the grocery store is souring Americans on the economy.
Inflation hotter than expected in January
January's Consumer Price Index showed a slightly higher increase in prices than economists had predicted, rising 3.1% from a year earlier. CBS News business analyst Jill Schlesinger has a breakdown of the numbers.
Inflation ran hotter than expected in January
Consumer prices in January rose 3.1% from a year earlier, higher than economists had forecast, as food and housing costs jumped.
Federal Reserve Chair Jerome Powell discusses interest rate cut timeline
In a rare interview, Federal Reserve Chair Jerome Powell signaled the U.S. is nearing a long-awaited shift toward cutting interest rates. He shared more on timing and what he's waiting for.
Fed Chair Jerome Powell shares why Fed hasn't yet cut interest rates
Federal Reserve Chair Jerome Powell gives his thoughts on inflation risks, the economy, the timeline for cutting rates, the health of the country's banks and more. Scott Pelley reports.
Chairman Powell I Sunday on 60 Minutes
There is no better person to ask about the American economy than Federal Reserve Chairman Jerome Powell. This Sunday, 60 Minutes sits down with Powell to ask about the future of interest rates, whether prices will come down, and what the Fed might do next.
Why January's jobs report is a big surprise
The U.S. economy added 353,000 jobs in January, according to the Labor Department's first jobs report of the year. Daniel Zhao, the lead economist at Glassdoor, joins CBS News with a look at the surprising data.
Presidential candidates address housing costs
Data from the Federal Reserve shows price indexes for homes and rents are up nearly 50% compared to before the pandemic. Jeanna Smialek, Federal Reserve and U.S. economy reporter for The New York Times, joins CBS News to examine how much a president can do to curb prices.
When will the Fed cut interest rates?
The Federal Reserve announced Wednesday it would leave interest rates unchanged. Martin Baccardax, senior editor and chief markets correspondent for TheStreet, joins CBS News to discuss what the central bank is looking for to start cutting interest rates.
Why the Fed is holding interest rates steady
The Federal Reserve Board announced it will not change interest rates for now as it eyes how to lower inflation without running the risk of entering a recession. CBS News business analyst Jill Schlesinger looks at the Fed's decision and the upcoming cues to look out for in the economy.
Here's what to know about the Fed's first rate meeting of 2024
The Federal Reserve kept its benchmark rate steady at its first meeting of 2024. Here's what it means for your money.
Regional banks try to combat low earnings
Regional banks are seeing steep drops in their 2023 fourth quarter profits after avoiding a crisis last year as inflation persisted. Gina Heeb, a Wall Street Journal reporter, joins CBS News with her take on the regional banking outlook.
Record number of Americans are homeless amid nationwide rent surge
Rents over the last two decades have risen much faster than employee pay, contributing to an escalating homelessness crisis in the U.S.
Senate passes climate and drug costs bill
After long negotiations and more than 24 hours of voting, the Senate passed a spending bill aimed at tackling climate change, reducing drug costs and addressing inflation on Sunday along strict party lines. Congressional correspondent Nikole Killion details path to the final vote.
Report: U.S. economy saw strong end to 2023
The U.S. economy had a robust end to 2023, with the gross domestic product exceeding expectations, according to a new Commerce Department report. Axios chief economic correspondent Neil Irwin joins CBS News to discuss the 2024 economic outlook.
Senate rejects funding bills again as government shutdown continues into second week
The government shutdown stretched into its sixth day on Monday with no signs of an imminent resolution.
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.
U.S. to take ownership stake in Trilogy Metals, which has Alaskan mining claims
Interior Secretary Doug Burgum said the "ownership in that company will benefit the American people."
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.
Air traffic controllers told to keep working during government shutdown
National Air Traffic Controllers Association tells its members that failing to report to work could cost them their job.
FBI analyzed some Republican lawmakers' phone records as part of Trump Jan. 6 probe
The FBI in 2023 analyzed phone records of more than a half dozen Republican lawmakers as part of an investigation into efforts by President Trump to overturn the results of the 2020 presidential election, GOP senators say.
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.
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.