Inflation ran hotter than expected in January, complicating the Fed's rate decision
CBSN
Inflation ran hotter in January than had been forecast by economists, signaling that higher prices remain sticky and complicating the Federal Reserve's decision about when to begin cutting its benchmark rate. As with inflation last month, higher housing and food prices were the big drivers.
Consumer prices rose 3.1% in January from a year earlier, the government said on Tuesday. Economists had expected January prices to rise at a 2.9% pace from a year ago, according to FactSet.
Even so, the pace reflected an improvement from December, when inflation rose at an annual rate of 3.4%.
Run 3 Space | Play Space Running Game
Traffic Jam 3D | Online Racing Game
Duck Hunt | Play Old Classic Game
A divided federal appeals court on Friday threw out an agreement that would have allowed accused Sept. 11 mastermind Khalid Sheikh Mohammed to plead guilty in a deal sparing him the risk of execution for al Qaeda's 2001 attacks.
Cases of COVID-19 are now likely growing in 25 states, according to estimates published by the Centers for Disease Control and Prevention on Friday, as this year's summer wave of the virus appears to be getting underway.
Washington — Emil Bove, a top Justice Department official who previously served as President Trump's criminal defense attorney, declined to rule out the possibility of the president running for a third term and did not denounce the Jan. 6 attack on the Capitol in a questionnaire submitted to a Senate panel considering his nomination for a lifetime appointment as a federal judge.
Across a wide swath of Texas, the inundated rivers that ravaged communities also tore through farms and ranches.
The Emmy Award-winning "CBS News Sunday Morning" is broadcast on CBS Sundays beginning at 9:00 a.m. ET. "Sunday Morning" also streams on the CBS News app beginning at 11:00 a.m. ET. (Download it here.)
Washington — President Trump and first lady Melania Trump are heading to Central Texas on Friday to survey the devastation wrought by last week's deadly flooding, as first responders and family members continue their search for the missing.
A new federal estimate shows a rise in prediabetes among American adolescents, a finding that is spurring concerns about the health of U.S. children — and the way Trump administration health officials are conducting research and communicating information, experts said.
After already experiencing whiplash in federal student loan policies since the pandemic, borrowers must again brace for change.
Texas health officials are overhauling a program designed to steer people away from abortion following a ProPublica and CBS News investigation that found that the state had funneled tens of millions of taxpayer dollars into the effort while providing little oversight of the spending.
Pakistan police on Friday said a father shot dead his daughter after she refused to delete her account on popular video-sharing app TikTok.
Yangon — Myanmar's military leader lauded President Trump and asked him to lift sanctions, the ruling junta said Friday, after a tariff letter from the U.S. president that it has taken as Washington's first public recognition of its rule. Min Aung Hlaing endorsed Mr. Trump's false claim that the 2020 U.S. election was stolen, and thanked him for shutting down funding for U.S.-backed media outlets that have long provided independent coverage of conflict-wracked Myanmar.
The State Department will begin layoffs as early as Friday as it seeks to cut the size of its U.S. workforce by about 15%, CBS News has learned — part of the Trump administration's sweeping plan to reorganize the department.
President Trump on Thursday threatened to impose 35% tariffs on goods from Canada starting next month, hiking import duties on one of the U.S.'s largest trading partners.