Stocks soar on latest signs that inflation is slowing
Wall Street jumped after a government report showed U.S. inflation slowed more in November than analysts had expected.
Inflation
Inflation cooled in November for fifth month
The annual inflation rate hit 7.1% in November, the fifth straight month that consumer prices cooled off. Lori Bettinger, president of BancAlliance, joins CBS News' Elaine Quijano and Lana Zak on how this could affect the Federal Reserve's announcement Wednesday on interest rates.
Inflation cooled further in November, with prices rising 7.1%
Price increases are slowing but have a long way to go before hitting the Federal Reserve's 2% target.
U.S. Inflation slightly cooling down
The Consumer Price Index rose 7.1% in November, down from 7.7% in October. The Federal Reserve is expected to announce another interest rate hike this week. CBS News reporter Sarah Ewall-Wice joins us with the latest on what this means for the economy.
How long will it take for U.S. prices to return to normal?
Although the sharpest price increases are behind us, it could be years before runaway inflation finally runs its course.
Feds expected to raise interest rates again
The Federal Reserve is set to meet this week to discuss another possible interest rate hike. The two-day meeting comes after Treasury Secretary Janet Yellen saying she predicts a significant reduction in inflation by the end of next year. Kristin Myers, the editor-in-chief at The Balance, joins CBS News to discuss.
Price increases slam holiday industries
Americans are expected to spend more to decorate and buy gifts for family and friends this holiday season. Scott MacFarlane reports that price increases are hitting the holiday industries, but people still want to spend this year to keep their traditions going.
Inflation raises Christmas costs, with some trees selling for over $100
Gary Thomas, who has a sprawling farm near the Pennsylvania-Maryland border, has worried about what customers will think of his price hikes.
Janet Yellen: The 2022 60 Minutes Interview
The treasury secretary tells Norah O’Donnell how she thinks the economy will fare in the coming year and what her department is doing to end the war in Ukraine.
Investors anticipate Fed meeting next week
The Federal Reserve is meeting next week to decide on interest rate hikes. Geetu Sharma, founder and investment manager of AlphasFuture, discussed the state of the stock market.
Wholesale prices rose in November
Wholesale prices rose 0.3% in November, despite efforts to cool inflation. The numbers could signal another interest rate hike by the Federal Reserve. Bob Elliot, the CEO and CIO of Unlimited, joins CBS News' Lana Zak and Tanya Rivero to discuss.
U.K. overhauls financial sector
The British government has announced an overhaul of financial regulations that were originally put in place following the 2008 financial crisis. And China eases its strict "zero-COVID" policies in an effort to bring down inflation. CBS News foreign correspondent Ramy Inocencio discusses with anchors Anne-Marie Green and Meg Oliver.
Analyzing inflation, stocks, cryptocurrency
According to the Bureau of Labor Statistics' Producer Price Index that was released today, the prices of wholesale goods in the U.S. rose 0.3% for the month of November. Meanwhile, investors are trying to remain optimistic about the stock market heading into 2023. CBS News contributor and Axios managing editor of business and markets Javier David joins us to discuss.
U.S. gas prices now lower than 1 year ago
Gas prices continue to fall and are now lower than they were one year ago. While plunging gas prices have provided some relief, Americans are still facing stubbornly high inflation. Kris Van Cleave takes a look.
Yellen believes inflation will be lower in '23
"I believe inflation will be lower. I am very hopeful that the labor market will remain quite healthy," Yellen tells Norah O'Donnell. See the interview, Sunday on 60 Minutes.
Gas prices in the U.S. are now lower than a year ago
Sharp drop in average gas prices signals that this year's breakneck pace of inflation is cooling.
Yellen to unveil first U.S. currency with her signature
Janet Yellen is set to unveil the first U.S. currency bearing her signature, marking the first time that U.S. bank notes will bear the name of a female treasury secretary.
Jamie Dimon warns of "mild recession"
JPMorgan Chase CEO Jamie Dimon spoke with "Face the Nation" moderator Margaret Brennan about the state of the economy and how geopolitical issues could play a role. He warned of a mild recession in 2023. Brennan joins CBS News' John Dickerson on "Prime Time" with more on the interview.
Better to buy a real or artificial Christmas tree?
A real or artificial Christmas tree? Carter Evans takes a look at which one is better for your wallet and the environment.
Surprising jobs report shows strong hiring
The Labor Department's November jobs report showed the U.S. gained 263,000 jobs last month. But fears about inflation and a possible recession remain. Meg Oliver reports.
Stocks fall with another rate hike expected
The Dow plunged over 480 points Monday as investors remain fearful the Federal Reserve could drive the economy into a recession with additional interest rate hikes. Dory Wiley, president and CEO of Commerce Street Holdings, joined CBS News' Lilia Luciano on the implications of the Fed's next move.
Stocks fall as strong data suggests difficult inflation fight
"It's more of that 'good news is bad news,'" said Tom Martin, senior portfolio manager at Globalt Investments.
Strong job numbers could signal more rate hikes
With the Labor Department on Friday reporting stronger November job numbers than expected, the Federal Reserve could react with yet another interest rate hike in an effort to curb inflation. Skyler Henry has the details.
November jobs report shows resilient market
The November jobs report released by the Labor Department Friday showed that 263,000 new jobs were added last month, and the unemployment rate remains at 3.7%. The strong labor market comes amid a flurry of recent interest rate hikes. CBS News business analyst Jill Schlesinger discussed the impact of the latest numbers, and provided some tips on avoiding financial missteps heading into 2023.
Stock market slides after jobs report
The U.S. added more than 260,000 jobs in November despite the Federal Reserve's efforts to cool off the economy by raising interest rates. J.D. Durkin, host of "TheStreet," joins CBS News from the floor of the New York Stock Exchange to discuss investors' reaction to the new report.
live updates
Senate votes fail again on Day 8 of government shutdown
The government shutdown stretched into Day 8 on Wednesday as another round of Senate votes failed to advance funding bills. Follow live updates here.
Ex-FBI chief James Comey pleads not guilty to charges of lying to Congress
Former FBI Director James Comey, a longtime foe of President Trump, appeared in Virginia for an arraignment, in his first court appearance since he was charged.
Florida man arrested for allegedly starting Palisades Fire
The Palisades Fire burned more than 23,000 acres and killed at least 12 people in January.
Trump posts that Chicago mayor, Gov. Pritzker "should be in jail"
"Chicago Mayor should be in jail for failing to protect Ice [U.S. Immigration and Customs Enforcement]" Officers!" President Trump posted. "Governor Pritzker also!"
Organic frozen spinach recalled due to potential listeria contamination
Sno Pac Foods is recalling two types of organic frozen spinach due to potential listeria contamination, which can lead to serious illness.
Joan Kennedy, first wife of Massachusetts Sen. Ted Kennedy, dies at 89
Joan Bennett Kennedy, the former wife of the late Massachusetts Senator Ted Kennedy, died Wednesday. She was 89.
Cristiano Ronaldo becomes first billionaire soccer player
Portuguese soccer star Cristiano Ronaldo becomes his sport's first billionaire, with his wealth driven by Saudi contract.
Soldiers investigated after 6 people shot dead on highway
Numerous violent clashes involving security forces in Tamaulipas have prompted accusations of extrajudicial killings.
Tropical Storm Jerry churns over central Atlantic Ocean
Tropical Storm Jerry continued to churn over tropical waters of the central Atlantic Ocean and was likely to become a hurricane.