Inflation is slowing — really. Here's why Americans aren't feeling it.
CBSN
Many Americans remain dour on the state of the economy, with the price of necessities like food and rent a lingering source of pain. Although it may seem like small consolation for cash-strapped consumers, economists have some good news. Really.
Forecasters predict that the steep drop in inflation since it peaked at more than 9% in June of 2022 will continue in 2024. David Kelly, JPMorgan Asset Management's chief global strategist, projects "a very steady decline in inflation throughout the next year." That could lead the Federal Reserve to cut its benchmark interest rate and push down borrowing costs for individuals and businesses.
Moderating inflation can be seen in recent government data, with the Consumer Price Index in September up 3.7% over the prior 12 months.
Probational federal employees who lost their jobs on Thursday as part of the Trump administration's mass firing of government workers expressed shock and anger at the terminations, which they contend will hurt the government's ability to provide services.
The U.S. Army will no longer allow transgender people to enlist and will stop providing gender-affirming care for service members, it announced on social media Friday.
Washington — A federal judge in Seattle put a pause on President Trump's directive that seeks to restrict access to gender-affirming care for young people under the age of 19, becoming the second in so many days to halt the president's efforts to target access to the treatments.
Love is in the air — but not everyone is in a pair.
The White House is barring all Associated Press journalists from accessing spaces such as the Oval Office and Air Force One, a top White House official announced Friday, after the White House shut the AP out of the Oval Office and a formal news conference earlier in the week.
Washington — President Trump signed an executive order Friday that prohibits schools and colleges with COVID-19 vaccine mandates from receiving federal money, though no states currently have such a requirement.
Vice President JD Vance and Ukrainian President Volodymyr Zelenskyy held a high-stakes meeting at this year's Munich Security conference to discuss the Trump administration's efforts to end the war in Ukraine. Vance said the U.S. seeks a "durable" peace, while Zelenskyy expressed the desire for extensive discussions to prepare for any end to the conflict.
The crew of the Black Hawk helicopter that collided in midair with an American Airlines jet over Washington D.C. might not have heard instructions from an air traffic controller to pass behind the plane, investigators said Friday.
Half of the Centers of Disease Control and Prevention's Epidemic Intelligence Service officers — a group known as the CDC's "disease detectives" — were among the cuts made Friday by the Trump administration, multiple health officials tell CBS News.
Two sloth bear cubs born at the San Diego Zoo in late 2024 made their first public appearance on Thursday.
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Washington — The Trump administration on Thursday intensified its sweeping efforts to shrink the size of the federal workforce, the nation's largest employer, by ordering agencies to lay off nearly all probationary employees who hadn't yet gained civil service protection - potentially affecting hundreds of thousands of workers.
It was Labor Day weekend 2003 when Matt Scribner, a local horse farrier and trainer who also competes in long-distance horse races, was on his usual ride in a remote part of the Sierra Nevada foothills — just a few miles northeast of Auburn, California —when he noticed a freshly dug hole along the trail that piqued his curiosity.