White House releases preview of Biden’s 2023 State of the Union address – CBS News Watch CBS News CBS News senior White House correspondent Weijia Jiang has some early excerpts from the president’s State of the Union speech, plus details on who Mr. Biden has personally invited to Capitol Hill. Be the first to know … Read more
Federal Reserve chair says rate cuts unlikely in 2023 – CBS News Watch CBS News 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 … Read more
12/13: CBS News Prime Time – CBS News Watch CBS News John Dickerson reports on the charges against FTX founder Sam Bankman-Fried, an alleged Russian smuggling ring in New Hampshire, and reasons why inflation slowed in November. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now … Read more
Inflation slowed in November ahead of Federal Reserve meeting – CBS News Watch CBS News The Labor Department reported Tuesday that the Consumer Price Index rose 7.1% over the last 12 months, the slowest rate of inflation since December of 2021. William Lee, chief economist for the Milken Institute, joined CBS News to discuss the … Read more
The Federal Reserve should declare an immediate cease fire in its war against inflation and hold its benchmark interest rate steady instead of raising the federal funds by a half percentage point to a range of 4.25% to 4.50%, as expected at its meeting that ends Wednesday. With the relatively benign report on the consumer … Read more
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Seniors and millions of other Social Security recipients in the U.S. will soon get their biggest benefit hike since 1981, with the pension program set to deliver an 8.7% cost-of-living increase in 2023. The annual cost-of-living adjustment, or COLA takes effect with the December benefits, but those payments will be made in January 2023, according … Read more
Concerns over e-rupee This refers to ‘With anonymity in doubt, few takers for the e-rupee’ (December 12). Any new idea or policy will take time for the people to discern and follow. The apprehensions of the people on the anonymity of the central bank digital currency or e-rupee is quite understandable. That apart, the RBI … Read more
Treasury Secretary Janet Yellen: The 2022 60 Minutes Interview – CBS News Watch CBS News The treasury secretary tells Norah O’Donnell how she thinks the economy will fare in the coming year and what her department is doing to end the war in Ukraine. Be the first to know Get browser notifications for breaking news, … Read more
Shoppers are seen in a Kroger supermarket on October 14, 2022, in Atlanta, Georgia. Elijah Nouvelage | AFP | Getty Images More players in the stock market and among the ranks of professional economists have come around to the view that inflation has peaked or already is in decline, but small business owners on Main … Read more