Stocks dip at start of August as investors remain "cautious"
"Investors are still assessing where we break from here – further to the upside or reverse course," said one strategist.
Inflation
7/31: Face The Nation
This week on "Face the Nation with Margaret Brennan," with 100 days to go until the midterm elections, Democrats have revived a tax and spending package and hope voters will reward them if it passes. Plus, Minneapolis Federal Reserve President Neel Kashkari and the new CBS News Battleground Tracker.
Face The Nation: Kashkari, Salvanto, Khalid
Missed the second half of the show? The latest on inflation concerns with Minneapolis Fed chief, Neel Kashkari, the 2022 CBS News Battleground Tracker finds GOP leads race for House, and a political panel discusses November's midterm elections and more.
Minneapolis Fed chief: Inflation still "very concerning"
Neel Kashkari, the head of the Federal Reserve Bank of Minneapolis, says "we keep getting surprised" by data on inflation, which continues to be "higher than we expect."
Breaking down the U.S. economy's mixed signals
Unemployment is down. Inflation is up. With the Federal Reserve Board again raising interest rates this week, plus new indications we could be in a recession, the economy is in uncharted waters. And no one seems certain about what's next or what to do. CBS News' chief political analyst John Dickerson helps us add it all up with the help of two experts: Lloyd Blankfein of Goldman Sachs, with the overview; and Michelle Singletary, a personal finance columnist for the Washington Post, with advice for all of us.
Manchin: Climate and tax deal "all about" fighting inflation
Democratic Sen. Joe Manchin of West Virginia says the agreement he reached with Senate Majority Leader Chuck Schumer "is fighting inflation, this is all about that."
S&P 500 posts best month since November 2020
Investors have been cheered by better-than-expected corporate earnings, offsetting recession fears.
This week on "Face the Nation with Margaret Brennan," July 31, 2022
Sens. Joe Manchin and Pat Toomey, and Federal Reserve Bank of Minneapolis President Neel Kashkari, will appear on "Face the Nation with Margaret Brennan" this Sunday.
Oil drillers reap unprecedented profits as Americans struggle
Soaring energy prices baked into delivery costs are driving up the cost of everything from apples to toilet paper.
U.S. GDP falls 0.9% in second quarter
The Commerce Department Thursday reported that the U.S. economy shrank for the second quarter in a row. Between April and June, the GDP fell at an annual rate of 0.9%. Peter Morici, a professor at the Robert H. Smith School of Business at the University of Maryland, joined CBS News to discuss what this could mean.
Key inflation gauge jumped 6.8% in June as prices surged
"Consumer sentiment sure stinks but Americans nevertheless continue to increase their spending," said one economist.
7/28: Red and Blue
U.S. economy shrinks for second consecutive quarter; Mega Millions jackpot tops $1 billion
Growing homelessness among baby boomers
A growing number of baby boomers are experiencing homelessness amid rising rents and inflation. The number of homeless people over 55 is expected to swell to 225,000 nationwide by 2026, according to one study. Jonathan Vigliotti takes a look.
White House adviser weighs in on recession fears
President Biden said the economy is in a good place despite GDP falling for two consecutive quarters. Debra Alfarone reports from the White House. Then, Gene Sperling, senior adviser to the president, joined "Red and Blue" to discuss the state of the economy.
Baby boomers facing spike in homelessness
The number of homeless people over 55 is expected to spike to 225,000 nationwide in the next four years, a 32% jump since 2017, according to a study.
U.S. economy shrinks, raising recession fears
President Biden downplayed growing fears that the U.S. is headed into a recession after the economy shrunk for two quarters in a row. Mr. Biden argued that a new budget deal agreed upon by top Democrats would help fight inflation and urged Congress to pass it. Caitlin Huey-Burns reports.
Biden speaks on inflation and climate bill
President Biden says the budget bill agreed to by Senate Democrats Joe Manchin and Chuck Schumer will be "the most important investment that we've ever made in our energy security." Watch his full remarks.
Major rent surge in Tampa Bay
Housing prices nationwide are up about 20%, but they've soared far more in the Tampa Bay area. Tampa Bay's home prices spiked nearly 36% and rents are up about 22% from last year. Mark Strassmann reports.
Federal Reserve expected to hike interest
The Federal Reserve is expected to hike interest rates for the fourth time since March in an effort to curb inflation and avoid a recession. Kris Van Cleave reports.
Business analyst on interest rate hike
With the highest inflation rates in four decades, the federal reserve has raised the short-term interest rate for the fourth time this year. CBS News business analyst Jill Schlesinger joins "CBS Mornings" to discuss the impact this has on borrowers with mortgages, credit card debt and loans.
7/28: CBS News Mornings
Federal Reserve raises interest rates; lawmakers grill gun manufacturers.
What the Fed's latest interest-rate hike means for your money
"Extraordinary" rate hike comes on the heels of another sharp increase in June. That means debt is about to get more expensive.
Senate Democrats reach deal on bill
Senators Joe Manchin and Chuck Schumer say they have reached a deal on the Inflation Reduction Act, a bill that includes measures to fight inflation, lower drug costs and address climate change. CBS News congressional correspondent Nikole Killion breaks down the legislation and other measures that Congress is working to pass.
CBS Evening News, July 27, 2022
Fed hikes interest rates again amid recession fears; FBI honors 1st female special agents 50 years later
Fed raises interest rates again
For the fourth time this year, the Federal Reserve has raised its benchmark interest rate in a bid to slow record-high inflation. Megan Cassella, a reporter for Barron's, joined CBS News' Lana Zak to discuss.
Israeli forces kill 4 aid seekers near Gaza City, hospital and witnesses say
A U.N.-backed initiative on Friday declared a famine in Gaza City.
Maps show Tropical Storm Fernand's path and forecast in Atlantic
Fernand is the sixth named storm of the 2025 Atlantic hurricane season.
Wes Moore says Trump's rhetoric on crime is "purely performative"
Maryland Gov. Wes Moore said President Trump's rhetoric on crime is "purely performative" as the president offered to send troops to Baltimore amid a broader push to crack down on crime.
Dangerous heat wave brings record temperatures, wildfire risks to the West
Dangerously hot conditions hit states up and down the West Coast over the weekend, owing to a persistent heat wave stretching from the Pacific Northwest to California and the desert Southwest.
Cargo Dragon heads for space station
The cargo Dragon is the first equipped with a add-on thrusters to periodically raise the space station's altitude.
Kilmar Abrego Garcia could be deported to Uganda, official says
The Trump administration may try to deport Kilmar Abrego Garcia to Uganda days after he was released from pre-trial detention, according to a DHS official.
Boxer Julio César Chávez Jr. to stand trial in Mexico over alleged cartel ties
Since 2019, Mexican prosecutors have been investigating Julio César Chávez Jr. following a complaint filed by U.S. authorities against the Sinaloa Cartel for organized crime, human trafficking, arms trafficking and drug trafficking.
Some international postal services suspend shipment of packages to U.S.
Multiple postal services, including in India and around Europe, say they are suspending the shipment of many packages to the United States amid a lack of clarity over new import duties.
North Korea test fires 2 new antiair missiles
The test coincided with new South Korean President Lee Jae Myung 's trip to Tokyo for a summit with Japanese Prime Minister Shigeru Ishiba.