Social Security increase doesn't go far amid inflation
"Our rent went up. Food goes up. So really we're not getting a raise. It evens out," said one retiree.
Inflation
U.S. job growth surges unexpectedly
More than half a million jobs were created in January, nearly triple the expectations. Jobs in hospitality and leisure saw the biggest bump in last month's jobs report. But inflation is still stubbornly high. Carter Evans takes a look.
U.S. hiring surged in January
President Biden is highlighting January's job report after it soared past economists' predictions. Jeanna Smialek, a financial reporter at The New York Times, joins CBS News to discuss what the numbers mean for the state of the U.S. economy and future Fed moves.
January jobs report surpasses expectations
The January jobs numbers crushed expert expectations, with more 517,000 new jobs being reported last month. In addition, the unemployment rate fell to its lowest level in more than 50 years. CBS News business analyst Jill Schlesinger has more.
Stocks slip after huge January jobs number
Blistering job growth last month and weaker growth by large tech players are dragging markets lower.
Wall Street jumps as technology stocks bounce back
Tech stocks and a surge for Facebook's parent company led the market higher as investors look past interest rate hikes.
Stocks rise after Fed acknowledges "disinflationary process"
"We will need substantially more evidence to be confident that inflation is on ... downward path," said Fed Chair Jerome Powell
Fed expected to raise interest rates again
The Federal Reserve is expected to announce another interest rate hike today, but the increase is expected to be lower than previous hikes that began in March 2022. Fed Chairman Jerome Powell will address the media this afternoon. CBS News reporter Sarah Ewall-Wice joins us to discuss the significance.
U.K. hobbled by biggest labor strikes in more than a decade
An estimated 500K workers, from teachers to train drivers, are demanding better pay and work conditions amid soaring inflation exacerbated by Brexit.
Job openings unexpectedly rose in December to 11 million
American labor market remains hot despite the Federal Reserve's efforts to cool it down.
Wall Street sends stocks to their highest levels since summer
Stocks closed higher on Wall Street, marking the market's third winning week in the last four.
A key inflation measure cooled in December
Easing of Personal Consumption Expenditures price index indicates Fed's interest rate hikes are slowing the economy.
Stocks finish higher on encouraging GDP numbers
The Dow Jones ended in the green Thursday following a report that showed the U.S. gross domestic product rose 2.9% in the fourth quarter of 2022. Kayla Bruun, economic analyst for Morning Consult, joined CBS News to discuss what the latest GPD data could mean to the economy.
U.S. GDP grew 2.9% in final quarter of 2022
The economy is fighting back against inflationary pressures, but many economists say that won't last, and the economy could slow down in 2023 as an intended consequence of the Federal Reserve's efforts to rein in inflation by raising interest rates. Economist and Harvard University professor Jeffrey Frankel joined CBS News to discuss what the latest GDP data could mean for the economy moving forward.
Economic growth remains solid, shrugging off recession fears
U.S. economy grew at 2.9% rate in last three months of year despite pressure of high rates and fears of recession.
Egg prices have soared. Now a lawmaker wants to know why.
With egg costs more than doubling in the past year, calls are coming for an investigation into possible price gouging.
Experts predict lower housing prices
Many real estate experts say they expect to see lower housing prices in 2023. CBS News' Tony Dokoupil and Lilia Luciano are joined by Kenny Simpson, mortgage adviser for The Simpson Team, to discuss the market trends.
U.K. consumers cut back on spending
New data from Britain's Office for National Statistics shows that consumers in the United Kingdom cut down on their shopping in December by the largest amount in at least 25 years. Meanwhile, the latest report from the government shows that inflation in the U.K. eased from November to December. CBS News foreign correspondent Ramy Inocencio joined Vladimir Duthiers and Anne-Marie Green from London to discuss.
Stocks fall as recession fears weigh on market
"Disappointing U.S. data releases and hawkish Fed rhetoric are also adding to the risk-off mood," said one analyst.
Inflation is cooling, Fed Vice Chair Lael Brainard says
But central bank will have to keep interest rates elevated "for some time" to keep a lid on price increases, official notes.
U.K.'s King Charles says property windfall should go to "wider public"
The royal family owns a lot of property, and plans for new wind farms are making it much more valuable.
Claims for jobless aid fall to lowest level in 4 months
Despite a spike in tech layoffs, most U.S. employers are holding on to their workers amid a tight job market.
Dow drops on negative retail sales report
The Dow Jones dropped more than 600 points Wednesday following the release of the December retail sales report by the U.S. Commerce Department. Kayla Bruun, an economic analyst for "Morning Consult", joined CBS News to provide her reaction to the report.
Market has biggest pullback of the year, led by tech
Dow falls more than 600 points, while sharp drop wipes out S&P 500's gains from last week.
The high cost of health care in America
The latest Gallup poll shows a record number of Americans delayed medical care in 2022 because they could not afford it. Pediatric airway surgeon Dr. Susannah Hills joined CBS News to break down the data.
Dispute emerges over back pay for furloughed workers
The government shutdown entered its eighth day Wednesday as both sides remained locked in their positions with no signs of relenting.
Bondi faces questions on DOJ probes, Epstein files at Senate hearing
Attorney General Pam Bondi appeared before the Senate Judiciary Committee for her first hearing since her confirmation.
Texas National Guard arrives in Illinois, could begin assignments Wednesday
Members of the Texas National Guard will be assigned to the protection of federal facilities and federal law enforcement personnel in the Chicago area.
Exclusive
DNI Tulsi Gabbard orders U.S. intel agency leaders to stem leaks
DNI Tulsi Gabbard issued a directive to review polygraph policies and curb press leaks, echoing actions taken by the Bush and Obama administrations.
Herschel Walker confirmed as U.S. ambassador to the Bahamas
The Senate on Tuesday confirmed former football star and Georgia Senate candidate Herschel Walker to serve as U.S. ambassador to the Bahamas.
Flights delayed at some airports amid air traffic controller shortage
Airports in several U.S. states are seeing flight delays as the government shutdown enters a second week.
Kentucky attorney general sues Roblox alleging a "playground for predators"
Violent games, including a simulation of the graphic shooting of activist Charlie Kirk, are seen by young children on the social gaming platform, the lawsuit alleges.
Supreme Court hears arguments involving Colorado "conversion therapy" ban
The Supreme Court is hearing a challenge to a Colorado law banning "conversion therapy" for minors that was brought by a licensed counselor in the state.
Tropical Storm Jerry forms over central Atlantic Ocean
Tropical Storm Jerry formed Tuesday over tropical waters in the central Atlantic Ocean, the National Hurricane Center said.