Federal Reserve Chairman Kevin Warsh reaffirmed the central bank’s commitment to lowering consumer prices, acknowledging that inflation remains too high in a highly anticipated speech in Jackson Hole, Wyoming. During remarks at the Fed’s annual conference, Warsh said that recent government data shows inflation has cooled, but “they do not tell me that underlying trends…
Washington — Federal Reserve Governor Lisa Cook defended herself against allegations from the Trump administration that she made misrepresentations on mortgage documents, arguing in a new letter that she has “never committed mortgage fraud.” In the letter to the White House dated Wednesday, Abbe Lowell, Cook’s lawyer, said that attempting to fire Cook on the…
Federal officials announced sharp water cuts for the next two years on Friday for three Western states that rely on the imperiled Colorado River. Under the Bureau of Reclamation’s plan, California, Nevada and Arizona will collectively reduce water use by 1.25 million acre-feet annually during that period, with the possibility of larger cuts depending on…
It was just after 1 a.m. on May 7, 2023, when authorities responded to a reported road accident on a secluded dead-end street in Greenwood, South Carolina. At the edge of the nearby woods, they would find 46-year-old Davis McClendon‘s body. But what they saw at first was on the road itself: a shirt, a…
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.) Hosted by Jane Pauley COVER STORY: A summer of extremes: Weathering a hotter worldJuly was the hottest month ever in the…
The top federal prosecutor in the nation’s capital carted a box full of evidence to the White House on Monday, in a bid to prove to President Trump that the damage to the Reflecting Pool was caused by shoddy construction and not by vandals, sources familiar with the matter told CBS News on Tuesday. U.S….
At ski resorts across the West this winter, viral images showed chairlifts idling over brown terrain in places normally renowned for their frosty appeal. Iconic mountain towns like Aspen, Colorado, and Park City, Utah, were seen with shockingly bare slopes, as the region endured a historic snow drought that experts warn could bring water shortages…
Arizona, California and Nevada would take less water from the Colorado River under a proposal announced Friday by the federal government to stave off crisis in the beleaguered waterway, which serves as a crucial source of water for more than 40 million people in seven Western states. The proposal from the U.S. Bureau of Reclamation…
The Federal Reserve said on Wednesday that it is leaving its benchmark interest rate unchanged, a sign policymakers expect inflation to ebb despite higher energy costs due to the war in Iran. This marks the fifth consecutive time the central bank has held rates steady this year. The last time Fed officials voted to change…
A deepening water crisis in the Western United States has reached an impasse as disagreement among affected states is grinding progress to a halt, and the well of potential solutions is close to running dry. The nation’s two largest reservoirs — Lake Mead and Lake Powell on the Colorado River — have fallen to their…
