As Biden exits, how will he be remembered for his handling of the U.S. economy?
CBSN
As President Biden prepares to depart the White House, he leaves an economic legacy marked by a historic pandemic that paralyzed consumers and businesses across the U.S.
After inheriting a COVID-scarred nation in 2021, Mr. Biden focused on righting the economy, a strategy that economists told CBS MoneyWatch is visible in the country's solid GDP growth and low unemployment. By several key measures, the economy is stronger than it was four years ago: The jobless rate is near a 50-year low, wages are growing and the U.S. managed to sidestep a recession widely expected by many on Wall Street as the Federal Reserve moved to curb inflation by ratcheting up interest rates.
"He should have a strong legacy when it comes to the economy," Mark Zandi, chief economist of Moody's Analytics, said of Mr. Biden. "He inherited an economy that was flat on its back because of the COVID pandemic, and he's leaving an economy that's flying high, at least in the aggregate,"
Washington — The U.S. government is moving quickly to implement President Trump's order to turn facilities at the Guantanamo Bay Naval Base into a large-scale immigration detention center, with plans to transport the first group of migrant detainees there on Tuesday, two U.S. officials told CBS News.
Washington — President Trump will attend the Super Bowl in New Orleans on Sunday, according to people familiar with the president's travel plans. He would be the first sitting president to attend the Super Bowl.
Vice President J.D. Vance will attend a two-day artificial intelligence summit in Paris next week for his first international trip since taking office in January.
Waffle House is adding a 50-cent per egg surcharge to customers' orders, citing the impact of ongoing egg shortages and rising prices caused by bird flu.
More of the wreckage of an American Airlines regional plane was recovered Tuesday from last week's deadly midair collision over Washington, D.C., that sent the airliner and an Army Black Hawk helicopter crashing into the Potomac River.
A diving team in North Carolina recently discovered the remains of a woman who went missing more than a year ago, authorities said.
With Elon Musk's Department of Government Efficiency (DOGE) gaining control of the Treasury Department's payment system, consumer advocates and Democratic lawmakers are raising alarms about the group's access to the federal government's financial spigot, as well as sensitive data such as the Social Security numbers of most taxpayers.
A former deep-sea treasure hunter who has served nearly a decade in jail for refusing to disclose the whereabouts of missing gold coins has had that term ended by a federal judge in Ohio, but he will remain behind bars for now.
Washington — The Senate Finance Committee is considering Robert F. Kennedy Jr.'s nomination on Tuesday, with a key vote on whether to advance his confirmation to lead the Department of Health and Human Services after a pair of fiery hearings last week.
Washington — Tulsi Gabbard, President Trump's pick to be director of national intelligence, faces a crucial vote on Tuesday that could doom or propel her nomination.
A West Virginia pharmacist who was convicted of poisoning her husband to death with insulin has been sentenced to life in prison without parole.
Millions of Americans will tune into the 2025 Super Bowl on Sunday not only to watch the championship game, but also to check out the big-budget commercials from some of the nation's biggest advertisers. Many companies are either teasing their spots or releasing their ads early, aiming to generate buzz before the big game between the Philadelphia Eagles and the Kansas City Chiefs.
San Salvador, El Salvador — U.S. Secretary of State Marco Rubio said late Monday that El Salvador's president has offered to accept deportees from the U.S. of any nationality, including violent American criminals now imprisoned in the United States.