Biden touts economic record in Chicago, hoping to convince skeptical public
President Biden had a tough sell Wednesday, trying to convince voters that the U.S. economy is flourishing.
Inflation
Funflation? Summer spending driving up prices
Central banks on both sides of the Atlantic say more interest rate hikes are likely this fall as they grapple with stubborn inflation. And economists say consumers are still spending money on fun experiences this summer, driving prices even higher. Bernhard Warner, senior editor for The New York Times' Dealbook, joins CBS News with more.
Brides turn to secondhand dresses as inflation drives up wedding costs
A growing number of brides across the country are finding bliss in pre-loved wedding dresses.
In some U.S. cities the war on inflation is already won
In some areas inflation has fallen below 2%, while in other regions prices are still spiraling upward. Why?
How "revenge spending" led to price hikes
Economists say the U.S. witnessed two years of so-called "revenge spending" following the COVID-19 lockdowns. But this summer could mark a shift back to normal spending habits, which could help ease inflation. Jeanna Smialek, a federal reserve and economy reporter for the New York Times, joined CBS News to talk about the trend.
Europe's economy grew in 2023 first quarter
The European Union registered a slender growth of 0.3% while the Eurozone, countries which use the Euro currency, grew by 0.1% in the first quarter of 2023. Although the European Union avoided a recession, inflation remains high. Brendan McKenna, an international economist for Wells Fargo, joined Anne-Marie Green on CBS News Mornings to discuss the latest.
Americans continue spending as inflation cools
Americans are still spending as inflation has finally shown signs of cooling. Still, there are some troubling economic signs. Mark Strassmann breaks it all down.
Economy sends mixed signals
For the first time in 15 months, the Fed paused hikes in interest rates as inflation has started to wane — although it remains high. Mark Strassmann reports.
Drivers see some relief at the pump this summer
Though still high, the price of gas is down significantly from what it was a year ago. The national average for a gallon of regular Saturday was $3.58, according to AAA. This time last year, it was more than $5. Michael George has more.
Wedding costs are rising. Here's how to tie the knot on a budget.
Skyrocketing inflation is driving up the price of venues, catering and flowers — but there are ways to trim costs.
Beyoncé concerts blamed for Swedish inflation
In May, Sweden reported an inflation rate of 9.7%, and analysts say about 0.2% of that was due to Beyoncé starting her "Renaissance" world tour in Stockholm. The concerts sparked a frenzy that drove demand for hotels and restaurants, making prices soar to new highs.
Closer look at inflation and interest rate
CBS News business analyst Jill Schlesinger breaks down the decision by the Federal Reserve to pause raising interest rates this month, and how the U.S. is doing with inflation.
Beyoncé single-handedly raised a country's inflation
Sweden sees 0.2% "Beyoncé blip" in inflation as fans flock to Stockholm for singer's World Renaissance Tour.
Federal Reserve pauses interest rate hikes
For 15 months the Federal Reserve has been trying to catch up to rising inflation by slowing economic activity. The central bank announced Wednesday it will not increase interest rates for now, but warned that the pause may not last long. CBS News senior White House correspondent Weijia Jiang reports.
Why the Fed paused interest rate hikes
For the first time since March 2022, the Federal Reserve will not be raising interest rates. J.D. Durkin, on-air host for digital financial news platform TheStreet, joins CBS News to discuss the Fed's path forward.
Fed hits pause on interest rates hikes
After 10 straight interest rate hikes done in an effort to combat inflation, the Federal Reserve on Wednesday chose to pause those rate hikes. However, Federal Reserve Chair Jerome Powell did signal that more rate hikes could be coming later this year. Weijia Jiang has more.
Federal Reserve pauses interest rate hikes
The Federal Reserve has decided to leave interest rates unchanged after a Consumer Price Index report this week showed inflation is cooling. CBS News business analyst Jill Schlesinger and Javier David, managing editor for business and markets at Axios, have more.
White House sees "progress" on inflation
Addressing the latest Consumer Price Index, President Biden said in a statement Tuesday that there was "continued progress tackling inflation," but "more work to do." The Biden administration also announced Wednesday that Secretary of State Antony Blinken will head to China this week. CBS News chief White House correspondent Nancy Cordes has more.
Inflation falls for 11th straight month
Inflation fell to 4% in May, the lowest rate since hitting a peak of 9.1% in June 2022. The welcome news may dissuade the Federal Reserve from raising interest rates for an 11th time. CBS News chief White House correspondent Nancy Cordes reports.
Fed expected to pause interest rate hikes
Inflation was lower in May, falling for the 11th straight month. And that could mean no more Federal Reserve interest rate hikes, at least for now. CBS News chief White House correspondent Nancy Cordes has more.
Inflation cools to lowest rate in 2 years
Consumer prices were up 4% from a year ago, according to the Department of Labor. That's the lowest inflation rate since 2021, although shoppers are still seeing rising prices at the grocery store. Carter Evans reports.
Inflation falls to lowest level in 2 years
The Labor Department reported Tuesday that the inflation rate for the month of May fell to 4% -- the lowest level in more than two years. David Wessel, director of the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution, joined CBS News to break down the numbers.
Rate hike pause after inflation report?
The latest consumer price index shows inflation is cooling. Prices rose 0.1% last month. Lori Bettinger, former director of the TARP Capital Purchase Program at the Department of the Treasury, has more on what this could mean for future interest rate hikes.
Inflation cooled to 4% in May, its slowest pace in 2 years
Even so, the latest "report contains plenty of pain, especially for lower-income Americans," said one economist.
Inflation cools again in May
Inflation has continued to ease, according to new Consumer Price Index data released by the U.S. Bureau of Labor Statistics on Tuesday morning. Scott Wren, a senior global market strategist for Wells Fargo Investment Institute, joins CBS News with more.
U.S. seeking to set up Putin-Zelenskyy summit in wake of White House meetings Monday
President Trump hosted Ukrainian President Volodymyr Zelenskyy and European leaders at the White House Monday. They presented a united front on the Russia-Ukraine war.
Trump vows to try banning mail-in voting before 2026 midterms -- but can he?
President Trump says he plans to sign an executive order "to end mail-in ballots, because they're corrupt." Here's what to know about his claims.
Hurricane Erin likely to bring dangerous rip currents to East Coast
Erin is the first hurricane to develop over the Atlantic this year, and meteorologists are closely tracking its path and forecast.
Kohberger's behavior alarmed university faculty, students before murders
More than 550 pages of investigation documents were released by Idaho State Police in response to public records requests.
Texas Democrat locked inside Capitol after refusing to sign slip for mandatory escort
Democratic state Rep. Nicole Collier says she remains locked in the House chamber because she wouldn't sign a permission slip to be under escort by the Texas Department of Public Safety.
Judge gives Trump administration partial victory in "Alligator Alcatraz" case
A federal judge tossed out part of a lawsuit brought by detainees at the "Alligator Alcatraz" detention center in the Florida Everglades, handing a partial victory to the Trump administration.
Missouri AG Andrew Bailey to become FBI co-deputy director, joining Bongino
Missouri Attorney General Andrew Bailey will serve as the FBI's co-deputy director, alongside the law enforcement agency's current second-in-command, Dan Bongino.
20 states and D.C. sue Trump admin. for tying crime victim grants to immigration
Twenty states and the District of Columbia sued the Justice Department for adding a new immigration enforcement rule to crime victim grants.
Many U.S. jobs are falling further behind inflation, study finds
Incomes are still trailing inflation four years after the pandemic-era surge in prices, causing a financial pinch for many households.