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Prominent Democrats and Republicans on both sides of the aisle are clashing on how to raise the debt ceiling. CBS News reporter Sarah Ewall-Wice discusses how politicians and the public view the debt ceiling.
While the central bank is slowing its rate increases, Jerome Powell told investors not to expect lower rates this year.
"We will need substantially more evidence to be confident that inflation is on ... downward path," said Fed Chair Jerome Powell
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.
The U.S. officially reached the debt limit on Thursday, and the Treasury Department says it has begun taking "extraordinary measures" to maintain the full faith and credit of the United States. It sets up a showdown that could put the entire U.S. economy at risk. Scott MacFarlane has more.
U.S. central bank chief is isolating at home while "experiencing mild symptoms," according to the Fed.
The Federal Reserve is eyeing another interest rate hike, and experts say the increase could be just a quarter of a percentage point. Sultan Meghji, the former chief innovation officer at the Federal Deposit Insurance Corporation and a professor at Duke University's Pratt Engineering School, joins CBS News to discuss.
Central banks should lean on banks to consider environmental risks in lending, climate activists say.
The U.S. saw solid gains in the labor market in December, but concerns about a possible recession still linger. Bank of America's chief economist Michael Gapen joins CBS News' Catherine Herridge with his economic forecast for 2023.
International Monetary Fund managing director Kristalina Georgieva warned that the global economy could face a "tough year" in 2023 in an interview on "Face the Nation." Threadneedle Ventures founder Ann Berry joined CBS News' Vladimir Duthiers and Anne-Marie Green to discuss the likelihood of a recession, rising interest rates and the global economy.
J.D. Durkin, host of "The Street," joined CBS News to discuss the gains made by the stock market Thursday, and what investors are looking for going into 2023.
The Dow dropped another 300 points at its opening Friday, the index's third straight day of losses after news of a rise in interest rates and a drop in retail spending. Jesse Wheeler, an economic analyst for Morning Consult, joins CBS News to discuss the latest financial news and what the future holds.
The Federal Reserve raised interest rates Wednesday for the seventh time this year. However, the latest rate hike is slightly lower than the last several increases. CBS News chief White House correspondent Nancy Cordes; Javier David, a CBS News contributor and managing editor of business and markets for Axios; and J.D. Durkin, a host for financial news website TheStreet, discussed the latest move from the nation's central bank.
The Federal Reserve boosted its benchmark interest rate by 0.5 percentage point, marking its seventh consecutive hike this year. David Wessel, the director of the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution, joined John Dickerson to discuss the Fed's efforts to bring inflation down.
Rates are at their highest level in 15 years as policymakers try to tamp down inflation without torpedoing the economy.
The Federal Reserve raised interest rates by half a point Wednesday, and the Dow Jones Industrial Average index fell following the announcement before briefly spiking when Fed Chairman Jerome Powell said that he wouldn't rule out the prospect of a soft landing. J.D. Durkin, host of "TheStreet," joined CBS News to look back on the Fed's work in 2022 and discuss what Americans should expect in the coming year.
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.
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.
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.
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.
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.
The November jobs report showed the U.S. economy added 263,000 jobs as the Federal Reserve considers its next interest rate hike. CBS News business analyst Jill Schlesinger joined Errol Barnett and Elaine Quijano with more on the direction of the labor market.
Stronger-than-expected wage data raised expectations Fed hikes will be more aggressive to get inflation under control.
The Federal Reserve is expected to keep an eye on the November jobs report as it considers its next interest rate hike. Kristin Myers, editor-in-chief of The Balance, joins CBS News' Errol Barnett and Elaine Quijano to discuss on what to expect.
Inflation dropped to still-high 6%, likely bolstering Fed's resolve to keep raising interest rates well into 2023.
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.
Residential electricity rates are expected to increase by as much as 18% in the next few years, according to the Energy Information Administration.
The Texas Senate approved the measure after a heated debate, marking a major step in a mid-decade redistricting effort backed by President Trump.
Hospital officials say Palestinians sheltering in tents or seeking scarce food aid were among at least 33 people killed by Israeli strikes in Gaza.
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.
Fernand is the sixth named storm of the 2025 Atlantic hurricane season.
The test coincided with new South Korean President Lee Jae Myung 's trip to Tokyo for a summit with Japanese Prime Minister Shigeru Ishiba.
The Justice Dept. released transcripts of Deputy AG Todd Blanche's two-day interview with convicted sex trafficker and Jeffrey Epstein associate Ghislaine Maxwell.
Experts at the Smithsonian Conservation Biology Institute care for endangered species on 32,000 sprawling acres in Northern Virginia.