As Congress and the White House face down a deadline to raise the debt ceiling, the U.S. moves closer to a possible default. CBS News' Errol Barnett has a look at why the U.S. handles its debt differently than any other nation.

#debt #economy #finance

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The Federal Reserve Bank of Dallas released a report outlining how the housing market is showing signs of a brewing housing bubble. Enrique Martínez-García, senior research economist and adviser with the Dallas Fed, joins "CBS News Mornings" with the details.

#news #economy

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Treasury Secretary Janet Yellen says the U.S. could run out of cash to pay its bills as soon as next month. In a letter sent to lawmakers Monday, Yellen said, "we will be unable to continue to satisfy all of the government's obligations by early June, and potentially as early as June 1, if Congress does not raise or suspend the debt limit before that time." CBS News congressional correspondent Scott MacFarlane has more.

#news #debtceiling #economy

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The Federal Reserve announced a 0.25% interest rate hike -- the first increase since 2018. The Wall Street Journal's chief economics correspondent Nick Timiraos, author of "Trillion Dollar Triage: How Jay Powell and the Fed Battled a President and a Pandemic and Prevented Economic Disaster," joins CBS News to explain what this means for American consumers.

#news #interestrates #economy

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