Federal Reserve Chairman Kevin Warsh spoke at the Jackson Hole Economic Symposium about the need to reduce high inflation, which has stayed above the Fed's 2% target for over five years. Warsh emphasized focusing on controlling prices but did not specifically say whether the Fed will raise interest rates soon.
Key Facts
Kevin Warsh is the new Federal Reserve Chairman, three months into his role.
Inflation eased slightly in July but has risen recently due to higher oil prices linked to a Middle East crisis.
Inflation has been above the Fed’s 2% goal for more than five years.
Warsh said the Fed must act if inflation does not move enough toward the target.
Warsh avoided clear signals about future interest rate changes, saying the Fed's past communication ("forward guidance") should be limited.
Markets estimate a 35% chance the Fed will raise interest rates by the end of the year.
Warsh praised the overall economy, noting strong consumer spending and a steady job market but said some areas like housing and farming are struggling.
He mentioned growing investment in artificial intelligence, which is driving much of the current capital spending.
Read the Original
Want the full story? Tap a source to open the original
article.
Federal Reserve Chair Kevin Warsh said the Fed is not finished working to control high inflation and that its main job is to keep prices stable. He did not say whether interest rates will go up soon but suggested rates might increase, which differs from President Donald Trump’s calls for rate cuts.
Key Facts
Kevin Warsh spoke at the Fed’s annual meeting in Jackson Hole, Wyoming.
Inflation in the US is still above the Fed’s 2% target, currently around 3.4%.
The Fed’s current interest rates are between 3.5% and 3.75%.
Warsh said the economy has stayed strong despite recent shocks like the war in Iran.
Warsh ended the Fed’s practice of giving clear future guidance on rate changes.
Some Fed board members recently wanted to raise rates, but most voted to keep them steady.
President Donald Trump wants the Fed to lower rates, but economists warn that could increase inflation.
US government debt recently passed $40 trillion for the first time.
Read the Original
Want the full story? Tap a source to open the original
article.
Federal Reserve Chairman Kevin Warsh said the Fed is ready to act if inflation does not continue to go down. He noted that inflation is still above the Fed's 2% target and the economy shows mixed signs, with a steady unemployment rate.
Key Facts
Chairman Kevin Warsh spoke at the Fed’s annual conference in Jackson Hole, Wyoming.
Inflation has cooled recently but remains higher than the Fed’s 2% goal.
Warsh did not clearly say if the Fed will raise interest rates but hinted they are prepared to do so if needed.
The economy’s unemployment rate was 4.1% in July.
Warsh prefers less forward guidance (predicting future Fed moves) to keep the Fed flexible.
He believes forward guidance, started during the 2008 financial crisis, is no longer as helpful.
Other Fed officials have shown openness to raising rates soon.
The CME Group’s FedWatch tool showed a 55% chance the Fed would raise rates in September.
Read the Original
Want the full story? Tap a source to open the original
article.
CBS Mornings Deals offers special discounts on various products that can improve daily life. Viewers can visit the website cbsdeals.com to find and buy these items.
Key Facts
CBS Mornings Deals presents exclusive offers on selected products.
The discounts aim to help improve everyday lifestyle.
Customers can access the deals by visiting cbsdeals.com.
CBS earns commissions when people buy products through this site.
The segment is part of CBS News programming.
The deals cover a range of items but specific products are not listed in the article.
Users can access CBS News through various platforms like the CBS News app and web browsers.
Read the Original
Want the full story? Tap a source to open the original
article.
Many couples are choosing micro weddings because they cost less than traditional weddings. This trend is growing as the price of weddings continues to rise.
Key Facts
Micro weddings have fewer guests than regular weddings, usually around 20 or fewer.
Wedding costs have increased a lot in recent years.
Couples want to save money while still celebrating their marriage.
Micro weddings are becoming more popular across the country.
Smaller weddings can be more personal and easier to plan.
The wedding industry is adapting to this new trend by offering services for smaller events.
Some couples prefer micro weddings to avoid large crowds and stressful events.
Read the Original
Want the full story? Tap a source to open the original
article.
Pollstar, a concert industry publication, ranked the top 20 global concert tours based on average earnings per city. The report includes details like total money made, average attendance, and ticket prices for major artists around the world.
Key Facts
Karol G had the highest average box office gross per city, earning about $9.25 million.
System Of A Down ranked second, earning about $8.63 million per city.
The average ticket price for Karol G’s shows was $217.25, the highest on the list.
Bon Jovi had the highest average ticket price at $249.16, but ranked 12th in gross earnings.
The ranking is based on data from concert promoters and venue managers.
Other artists in the top 20 include Bad Bunny, Luke Combs, Iron Maiden, and Ariana Grande.
Average attendance per city ranged from about 11,800 (Rush) to over 61,000 (System Of A Down).
The list shows a broad range of music genres and global audiences.
Read the Original
Want the full story? Tap a source to open the original
article.
The head of the US Federal Reserve, Kevin Warsh, said the central bank will need to act if inflation does not clearly get closer to its 2% target. He noted that prices are still rising too fast and suggested interest rates might rise to control inflation, but he did not give a definite plan for rate changes.
Key Facts
Inflation rose by 3.4% in the year to July, above the Fed’s 2% goal.
Warsh said the Fed’s main priority is to lower inflation to the target clearly and quickly.
He warned that if inflation does not improve enough, the Fed will have “work to do,” meaning possible rate hikes.
Warsh’s speech was at the Jackson Hole Economic Policy Symposium where central bankers and officials meet.
He cautioned against providing too much forward guidance, which means giving markets too many signals about future interest rate moves.
Interest rates have been steady between 3.5% and 3.75% for several months.
Rising oil prices and global tensions have pushed inflation higher and affected borrowing costs.
US national debt has exceeded $40 trillion, partly due to higher interest payments.
Read the Original
Want the full story? Tap a source to open the original
article.
UK farming groups and experts want the government to stop importing meat from Brazil because of concerns about antibiotic use in farming. They worry that the overuse of antibiotics in Brazilian meat could lead to health risks and the rise of antibiotic-resistant bacteria.
Key Facts
UK farming organizations have asked the government to ban imports of Brazilian meat for health reasons.
Brazil is suspected of using antibiotics routinely in cattle and poultry farming, which can cause antibiotic resistance.
The EU will ban Brazilian beef and chicken imports soon due to these concerns.
Since Brexit, UK imports of meat from Brazil have increased from £3 billion in 2021 to £5 billion in 2025.
Antibiotic resistance causes about 1.14 million deaths each year worldwide.
UK farmers have reduced antibiotic use and want imported meat to meet the same high standards.
The UK government is currently reviewing Brazil’s farming practices but has not yet banned imports.
Past food safety issues in the UK, such as a salmonella outbreak from imported eggs, have raised public concern.
Read the Original
Want the full story? Tap a source to open the original
article.
Good Good Golf released an advertisement showing a man pushing a woman to the ground, which caused criticism for making light of violence against women. The company apologized, removed the ad, and lost partnerships, including with golf club maker Callaway and a PGA Tour event.
Key Facts
The controversial ad showed a male co-founder shoving a female golfer to prevent her from touching his golf club.
Good Good Golf removed the ad and apologized, saying it did not reflect their values.
Callaway ended its partnership with Good Good Golf and apologized for approving the ad.
The PGA Tour condemned the ad and Good Good Golf withdrew sponsorship from a November event.
The ad’s inspiration was said to be from a horror film about obsession, according to the company’s co-founder.
Good Good Golf has over 2 million YouTube subscribers and aims to make golf more inclusive.
The backlash included criticism from veterans, industry professionals, and the PGA Tour CEO.
Callaway pledged $1 million to organizations preventing violence against women following the controversy.
Read the Original
Want the full story? Tap a source to open the original
article.
The FDA has given priority review to GSK’s cancer drug Jemperli after a trial showed it could clear rectal tumors for at least one year in many patients. This drug might change treatment by letting some patients avoid chemotherapy, radiation, and surgery, which are the usual but harsh treatments for this cancer.
Key Facts
Jemperli is being reviewed by the FDA with a decision expected by February 2027, but an earlier decision is possible.
The review is based on the AZUR-1 trial, which tested Jemperli alone in patients with a specific type of rectal cancer (stage II/III dMMR/MSI-H).
The trial showed no detectable cancer signs in a significant number of patients for at least 12 months.
154 patients participated, all receiving nine cycles of Jemperli over six months.
The drug’s safety profile matches what was already known and is manageable.
Traditional treatment includes chemotherapy, radiation, and surgery, which can cause serious long-term side effects.
Jemperli could help some patients avoid these treatments and their harmful effects, improving quality of life.
Avoiding surgery also means avoiding risks like needing a permanent colostomy bag, fertility loss, and other health complications.
Read the Original
Want the full story? Tap a source to open the original
article.
Mortgage rates in the U.S. have risen to an average of 6.66%, higher than experts expected, making it harder for many people to afford homes. A recent survey shows many potential buyers are waiting for rates to fall to about 5% before they start buying houses.
Key Facts
The average 30-year fixed mortgage rate is currently about 6.66%, up from below 6% earlier in the year.
Higher mortgage rates have slowed down the U.S. housing market recovery.
A $400,000 loan at 6.66% costs about $2,568 a month, but at 5% it would cost about $2,147 monthly, saving around $421 each month.
A survey of 1,000 U.S. adults found that 72% have delayed buying a home, waiting on average 13 months for better mortgage rates.
Millennials have waited the longest to buy at 14 months, Gen Z has waited 8 months.
About 34% would buy if rates dropped to 5%, 32% would keep waiting, and 34% are unsure.
Other reasons people delay buying include economic worries, hope for lower home prices, unaffordable costs, and saving for down payments.
Experts warn waiting for lower rates could mean paying more for homes later because of rising home prices.
Read the Original
Want the full story? Tap a source to open the original
article.
Federal Reserve Chair Kevin Warsh said inflation in the U.S. is still too high and suggested the Federal Reserve may need to raise interest rates in the next few months to reduce it. He noted that although inflation has cooled slightly, underlying price increases remain a concern and current rates might not be enough to reach the Fed’s 2% inflation goal.
Key Facts
Chair Warsh replaced Jerome Powell on May 22, 2026.
Inflation remains above the Fed’s target of 2%, measured at 3.7% in July.
More than half of the tracked goods and services have price increases above 3%, down from pandemic peaks but still high.
Warsh said interest rates currently are not restricting economic activity, as business investment and consumer spending remain strong.
He avoided giving direct hints about future rate decisions to keep the Fed’s policy flexible.
The Fed plans to meet on September 15-16 to discuss monetary policy.
Warsh emphasized that short-term interest rates are the main tool to control inflation.
He expressed concern that inflation won't return to the target level without further Fed action.
Read the Original
Want the full story? Tap a source to open the original
article.
Federal Reserve Chair Kevin Warsh said the Federal Reserve might raise interest rates because inflation is still too high. He emphasized the need to be sure inflation is falling quickly enough before pausing rate increases.
Key Facts
Inflation remains higher than the Federal Reserve's target.
The Fed may raise interest rates again to help lower inflation.
Warsh spoke about this during a recent speech.
The Federal Reserve wants inflation to drop clearly and quickly.
If inflation does not improve enough, the Fed will take further action.
Raising interest rates makes borrowing more expensive to slow the economy and reduce inflation.
Read the Original
Want the full story? Tap a source to open the original
article.
The ongoing trade conflict between the United States and Canada is causing serious problems for both countries. It could damage their strong military partnership and reduce the trust their armed forces have in each other.
Key Facts
The US and Canada are engaged in a trade war involving tariffs.
Tariffs are taxes on imported goods that make products more expensive.
This trade dispute is hurting the relationship between the two nations.
Military cooperation between the US and Canada is strong and important.
The trade war risks weakening military ties and trust.
Both countries could face negative effects in national security.
Resolving the trade issues is important to maintain their partnership.
Read the Original
Want the full story? Tap a source to open the original
article.
A Canadian paperboard company, RYAM, will temporarily close its plant in Témiscaming, Quebec, affecting 425 workers. The company says the closure is due to high U.S. tariffs that make running the plant too expensive.
Key Facts
RYAM is shutting down its Témiscaming plant on September 15.
About 425 workers will be impacted by this closure.
The company blames the closure on U.S. tariffs making the business unsustainable.
U.S. tariffs were raised on $27.6 billion worth of Canadian goods on August 22.
These tariffs include products like agricultural goods, manufactured items, and consumer products.
The U.S. already had tariffs on steel, aluminum, and cars from Canada.
Canadian Prime Minister Mark Carney stopped trade talks because the U.S. demands were unfavorable to Canada.
Canada has promised to respond with equal tariffs on U.S. goods.
Read the Original
Want the full story? Tap a source to open the original
article.
The X2 rollercoaster at Six Flags Magic Mountain in California has been closed since July after two riders suffered serious brain injuries. The ride, known for its fast speeds and spinning seats, has a history of injuries and lawsuits related to safety concerns.
Key Facts
The X2 rollercoaster reaches speeds of up to 76 mph and spins riders 360 degrees.
Two recent riders lost consciousness and were hospitalized with brain injuries after riding X2 in July.
One rider, Pamela Guillen, had a severe brain bleed and now experiences ongoing health issues.
Another rider, Naomi Greer-Wilkinson, remains in a coma after her injury.
The ride has been closed since July 12, and the park declined to comment on the incident.
CNN found records of injuries and two deaths connected to the X2 ride over the past 20 years.
Six Flags settled a wrongful death lawsuit related to X2 after a 22-year-old man died from a brain injury in 2022.
State inspections of the ride relied on safety standards set by a committee of theme park operators and ride makers.
Read the Original
Want the full story? Tap a source to open the original
article.
Federal Reserve chair Kevin Warsh spoke at the Jackson Hole Economic Policy Symposium, where he discussed inflation and the Fed's approach to interest rates. Warsh has avoided giving clear guidance about future rate changes, aiming to keep the Fed flexible, but some economists want him to clarify his policy ideas.
Key Facts
Kevin Warsh is the new chair of the Federal Reserve.
He speaks less openly about the economy and inflation compared to past chairs.
Warsh avoids giving "forward guidance," meaning he does not clearly say if rates will rise or fall.
This approach has caused confusion among economists and investors.
Inflation is still above the Fed’s 2% target but has cooled since mid-year.
Warsh’s recent comments suggest he might raise interest rates if inflation rises.
He may also consider other tools, like reducing the Fed’s holdings of government bonds.
Warsh’s speech also covered topics like AI, productivity, and global economic challenges related to the Iran war.
Read the Original
Want the full story? Tap a source to open the original
article.
Federal Reserve Chair Kevin Warsh said on Friday that inflation remains too high. He indicated the central bank might need to raise interest rates soon to lower inflation, though he did not commit to a specific policy move at the upcoming meeting.
Key Facts
Kevin Warsh became Federal Reserve Chair on May 22, 2026.
He spoke at the Fed’s annual conference in Jackson Hole, Wyoming.
Warsh acknowledged inflation has cooled slightly but underlying trends have not improved enough.
He said the Fed needs to be sure inflation is moving toward its goal clearly and quickly.
Warsh avoided giving direct guidance on whether rates will rise, fall, or stay the same.
He noted current interest rates are not yet limiting economic activity, given strong business investment and consumer spending.
The Federal Reserve will meet next on September 15-16, 2026.
Warsh aims to keep flexibility in monetary policy by not committing to a specific course ahead of meetings.
Read the Original
Want the full story? Tap a source to open the original
article.
Good Good Golf faced strong criticism for a video ad showing a male golfer pushing a female golfer to the ground, which many people saw as making light of violence against women. As a result, Callaway Golf ended its partnership with Good Good Golf and said it would donate $1 million to groups working to stop violence against women; the PGA Tour also said Good Good would no longer sponsor a tournament.
Key Facts
The controversial ad was made by Good Good Golf and featured a man shoving a woman golfer while she tried to take his driver (a golf club).
The ad was co-branded with Callaway Golf and meant to be a parody of a horror movie called "Obsession."
Critics said the ad was sexist and promoted violence against women.
Callaway Golf’s CEO apologized and said approving the ad was a mistake.
Callaway ended its three-year partnership with Good Good Golf after the backlash.
Callaway promised to donate $1 million to organizations fighting violence against women.
The PGA Tour said Good Good Golf would not sponsor a November tournament in Austin, Texas.
Good Good Golf co-founder Garrett Clark called the ad "the worst ad known to man" and said they do not support domestic violence or abuse.
Read the Original
Want the full story? Tap a source to open the original
article.
The home of Lindsay and Patrick Clancy in Duxbury, Massachusetts, where a tragic case involving their children occurred, was sold quietly in early 2024. The house was purchased by a former local prosecutor, Michael C. Phippen, for about $675,000, which is below the estimated market value.
Key Facts
Lindsay and Patrick Clancy’s home was in Duxbury, Massachusetts.
Their three children died in January 2023, and Lindsay is accused of harming them but pleads not guilty.
The couple bought the house in 2018 for $500,000 before having children.
Patrick Clancy sold the house after the tragedy and before moving to New York City.
The house was sold off-market to Michael C. Phippen, a former Plymouth County assistant district attorney.
The sale price was $675,000, lower than the estimated value of around $778,400.
The local housing market is strong, with average home values around $1.1 million.
Michael C. Phippen runs his own law practice and has no direct involvement in the Clancy case.
Read the Original
Want the full story? Tap a source to open the original
article.
