
Federal Reserve announces interest rate hike
The quarter-point hike is the first rate increase since 2018 as the central bank looks to rein in inflation.
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The quarter-point hike is the first rate increase since 2018 as the central bank looks to rein in inflation.
The Federal Reserve chairman said the effects of the invasion in Ukraine remain "highly uncertain."
Republicans on the Senate Banking Committee skipped Tuesday's meeting, denying Democrats the quorum needed to advance Biden nominees.
The Federal Reserve is signaling it plans to begin raising interests rates soon. Officials are hoping the move will help ease inflation, which has risen to its highest level in decades. Dana Peterson, chief economist for The Conference Board, joins CBS News' Elaine Quijano to discuss.
An economic analysis report shows a key inflation measure rose 5.8% last year, the highest it's been since 1982. Despite a big leap in the stock market numbers late Friday, major indexes are still down this year. Terry Haines, founder of Pangaea Policy, joins CBS News after the New York Stock Exchange's closing bell to break down how inflation is effecting the economy and what can be done to correct it.
Federal Reserve Chairman Jerome Powell said decisions on how often and by how much the rate increases this year have not been made.
President Biden has vowed to tackle the rising rate of inflation in the U.S. But many Americans don't feel like his administration is doing enough, despite steady economic growth during his first year in office. Chief economist for Morning Consult John Leer joins CBSN's Lana Zak to discuss.
The Labor Department says inflation in the U.S. jumped 7% between December 2020 and December 2021. That's the biggest increase since 1982. Peter Morici, an economist and emeritus professor at the University of Maryland, joins CBSN's Lilia Luciano to discuss what the latest data means for our economy.
Inflation surged to its highest level in nearly four decades in 2021. The Consumer Price Index increased by 0.5% in December, for a total annual increase of 7%. CBS News senior White House correspondent Weijia Jiang and CBS News congressional correspondent Scott MacFarlane join CBSN to discuss the Biden administration's plans to combat inflation and what it means for Americans moving forward.
A new Department of Labor report reveals the U.S. added 199,000 jobs in December. The unemployment rate has fallen to 3.9%. This comes as the country confronts a surge in COVID-19 infections and rising inflation. Frances Stacy, director of portfolio strategy at Optimal Capital, joins CBSN to discuss the current and future labor market.
The Federal Reserve signaled that it may raise interest rates at least three times in 2022, hoping to ease the staggering inflation that has Americans paying more for just about everything. Ed O'Keefe has the details.
As inflation soars, the Federal Reserve says it could raise interest rates at least three times in 2022. CBS News senior White House and political correspondent Ed O'Keefe joins CBSN's Lana Zak to discuss that and more.
The Federal Reserve is rolling out a new plan to help fight rising inflation. CBS News reporter Sarah Ewall-Wice breaks down how this could impact Americans' everyday lives.
President Biden traveled to Minnesota Tuesday to highlight aspects of his $1 trillion infrastructure plan. Mr. Biden's trip comes as concerns over the new COVID-19 variant, rising inflation and issues within the nation's supply chain threaten to derail his overall economic agenda. CBS News senior White House correspondent Weijia Jiang joins CBSN's Ed O'Keefe to discuss.
He tells Senate panel that the new COVID-19 variant could have an impact on economic activity and inflation.
President Biden nominated Federal Reserve Chair Jerome Powell to a second term. Plus, Democrats hope to boost their midterms chances with legislative successes. CBS News senior white house and political correspondent Ed O'Keefe, Washington Post deputy Washington editor Natalie Jennings and Politico national political correspondent David Siders join CBSN's "Red & Blue" anchor Elaine Quijano with the latest.
A CBS News poll shows just 33% of Americans approve of President Biden's handling of inflation, with only 44% approving of the job he is doing overall. As CBS News' Skyler Henry reports, Mr. Biden is hoping to build economic stability by reappointing Jerome Powell for another term as Federal Reserve chairman. Alex Gangitano, a White House correspondent for The Hill, joins CBSN's Elaine Quijano to discuss how the economy could shape the future of Biden's presidency.
President Biden is nominating Jerome Powell for a second term as Federal Reserve chair. Powell, a Republican who was originally nominated by President Trump, said he will focus on inflation if confirmed again.
Lael Brainard, whom progressives had pushed to lead the central bank, nominated as vice chair.
Some economists say fears about the impact president Biden's economic agenda could have on inflation are overblown. CBS News MoneyWatch reporter Aimee Picchi joins CBSN to discuss more.
Last week, the Federal Reserve voted to keep interest rates near zero as inflation rises to the highest point in 30 years. The central bank will also dwindle its buying of billions of dollars a stocks a month, which began during the pandemic. Senior vice president and director of research for the committee of economic development Joe Menarik joins Lana Zak on CBSN to discuss.
The central bank said it will start reducing its $120 billion in monthly bond purchases in the coming weeks.
Senate holds hearing on police reforms; Virginia Rep. Riggleman loses Republican primary.
Economic recovery remains on course despite surge in COVID-19 cases, according to U.S. central bank.
They say he hasn't done enough to address the effects of climate change on the financial system and has weakened regulations.
The ceasefire between Israel and Hamas continues to hold as aid begins to flow into the Gaza Strip.
The government shutdown entered its 11th day Saturday as Republicans and Democrats remain at an impasse over a spending plan, and the Trump administration began laying off thousands of federal workers.
Former President Joe Biden is undergoing radiation therapy and hormone treatment amid his ongoing treatment for prostate cancer, a spokesperson said.
President Trump said Friday he will impose an additional 100% tariff on imports from China starting next month, citing new port fees — marking a significant escalation in the U.S.-China trade war.
The Hickman County Sheriff's Office previously reported that 18 people were still missing, but is working on the assumption that all were dead.
The move is a sign of increasingly close ties between the U.S. and Qatar.
The Ukrainian leader wrote in a social media post that if a war can be stopped in one region, "surely other wars can be stopped as well."
The shooting happened on a main street while people were in the area for a high school homecoming game, the town's mayor said.
ICE's John Schultz said he's "confident" that once the administration receives approval from a third country to accept Abrego Garcia, he could be deported within 72 hours.