The U.S. economy expanded at a strong 3.8% annual rate in the second quarter, according to final government figures. National Economic Council Director Kevin Hassett hailed the growth as “about as good as it gets".

Washington

The U.S. economy's gross domestic product (GDP) growth was revised upward to 3.8%, according to the National Economic Council director, Kevin Hassett. He highlighted positive economic indicators, including strong retail sales and increased factory investment, while noting a reduction in government jobs aimed at improving efficiency.

Hassett also addressed concerns about labor market data, suggesting that recent low job creation figures may be statistical anomalies likely to be revised upward. Additionally, he discussed the ongoing process to finalize the TikTok deal involving ByteDance and U.S. companies, and commented on the potential for federal layoffs if government funding is not secured, emphasizing the importance of reaching a funding agreement.

U.S. GDP grew 3.8% in Q2, NEC director calls it 'as good as it gets'

Welcome back. I told you we were adjusting the show on the fly and as if to illustrate that perfectly, I said he was not here. He's not here. The director of the National Economic Council for the White House, Kevin Hassett. Kevin, it's good to see you. Thanks for joining us. Oh, it's great to be here, Major. Yeah, we were scheduled to speak when the president was still speaking and so we had to pause, but he finished it and I came right down from my office. And I know the priority the president speaking carries for you and all my good friends who cover the White House. So, some economic data today, Kevin, I want you to get you to get your appraisal of. GDP growth revised upward. Initial jobless claims came in under estimates. I'm gathering you regard both of those as positive statistical developments. Lurking within that data, the amount of time people in this country are unemployed lengthening by about almost a week, meaning people are being out of a job longer than they would prefer. That seems to me a possibly discouraging sign. Parcel three for my audience, if you'd be so kind. What we're seeing is, so for example, we had incredible retail sales. So year over year retail sales in America are up 6%, which means that Americans, especially ordinary Americans that are responsible for, you know, sales at Walmart and places like that are out there feeling healthy income wise and buying stuff. The GDP release shows that. And meanwhile, because all the factories are coming along on shore again, that we're seeing a huge explosion in factory investment. Meanwhile, while we're doing that, there is a reduction in government jobs by about 250,000 because we're trying to make the government more efficient. And so there's a whole bunch of data that's very, very positive. The one thing that you pointed to is that if you look at some of the labor market data, that especially the payroll survey, it said there were only 20 something thousand jobs in August. And I believe that's a statistical anomaly. And one of the ways we know that is that the jobs numbers are revised. But when we get the claims data, which you just talked about, and the claims data had been very, very positive. And so I think I think in the end, the revisions for the jobs numbers are going to be very consistent with every other number that's so so strong right now. Kevin, is the tick tock deal done? Absolutely done. Meaning by dance, the Chinese government, everyone who needs to sign off on this has signed off on it. The president, she and President Trump have agreed to a process to finalize the deal. It's a process that really has two tracks. One is a track where ByteDance is setting up investments with American companies and negotiating with those companies. And I think that there's still some moving parts on which companies that that's going to be. And at the same time, the governments have to approve that the deal that they finalize is consistent with the two presidents agreement. Everybody is almost certain that that's going to happen, but it's not completely done yet. And the only reason it's not done yet is that we're going to scrutinize the deal carefully to make sure that it's good for the American people and it protects their data security. Why does the shutdown conversation, Kevin, need a threat from the White House that there will be massive federal layoffs if it's unresolved? Right. Well, it's something that it doesn't there's not a promise that there'll be massive layoffs. It's an option that OMB reminded Democrats is on the table every time they don't fund the government. So if money is not appropriated for a job, then OMB's responsibility is to cut that job. Historically, we've known that the shutdown is only going to last for a short time. And so therefore, people have basically put on a four quarter offense and waited until the deal got worked out. But if the deal isn't worked out, if Democrats shut down this government, then we're going to explore our options. And Russ Vogt asked the Treasury secretary and other cabinet secretaries to explore what their options would be if they have the option to, you know, riff employees if they don't get the money they need to run their agencies. And whether they do that or not is an open question that'll be, I think, assessed by each cabinet secretary. But what we really hope is that we get a deal that doesn't shut down the government because the Democrats are posturing right now to try to come up with anything that'll change the story. Because again, like we were just talking about how strong the economy is, how much momentum we have for the American people. And so one of the ways in politics that people try to upset momentum is they do things like shut down the government. And it's kind of a silly political ploy. And I think Russ is reminding Democrats that they should really think about the gravity of what they're talking about, do it. Kevin Hassett mentioned RIF. That is an acronym, reduction in force. I like to clarify acronyms whenever I'm knowledgeable. Oh, I'm sorry. Yeah. Kevin Hassett. After a long day in the White House, you tend to use acronyms. Thank you very much, sir. Appreciate it.

Secretary of Defense Pete Hegseth has summoned hundreds of senior military officials to Virginia for an urgent gathering. The pentagon has provided very little details about the purpose of this meeting.

Quantico

Hegseth calls rare meeting of hundreds of senior military officers

Spain and Italy have sent naval vessels into the eastern Mediterranean to escort a flotilla of activists trying to break Israel’s blockade of Gaza. It’s a move that could set up tensions at sea and comes after the convoy says it was attacked by drones.

Madrid

Middle East Conflict

Spain, Italy send navies to escort Gaza aid flotilla

Former FBI director James Comey has been indicted on charges of making false statements and obstruction of justice. Legal experts say the case could have major implications for the former bureau chief and raises questions about accountability at the highest levels of law enforcement.

Former FBI director James Comey indicted on two counts

Federal agents in Washington state have seized more than 50,000 counterfeit pills laced with carfentanil, a drug said to be 100 times more potent than fentanyl.

Centralia

Feds seize 50,000 pills laced with drug 100 times stronger than fentanyl

Palestinian Authority President Mahmoud Abbas addressed the United Nations General Assembly virtually after the U.S. revoked visas for him and members of his delegation. CBS News' Olivia Gazis reports.

Mahmoud Abbas promises no Hamas in post-war Gaza government

The widow of one of the 60 passengers aboard the American Airlines regional jet involved in the deadly midair collision near D.C. in January has filed a wrongful death lawsuit against American Airlines, the FAA and the U.S. Army.

D.C. midair collision victim's family sues airline, FAA and Army

Former French president Nicolas Sarkozy was found not guilty of receiving illegal campaign financing from late Libyan dictator Muammar Gaddafi for his successful 2007 presidential bid, but was pronounced guilty of criminal conspiracy in the same case.

Paris

France ex-President Sarkozy convicted of criminal conspiracy

China led several countries in announcing new climate plans on Wednesday and offered a veiled rebuke of the U.S. president's anti-climate rhetoric a day earlier at the U.N. General Assembly.

Beijing

China sets new emissions goals after Trump rejects climate change

World leaders have launched an initiative, “Democracy Now,” on the sidelines of the UNGA to counter far-right extremism and defend multilateralism. As the UN faces skepticism, a new initiative by Brazil, Spain, Chile, Uruguay, and Colombia is gaining support among member states.

New York

Leaders at the U.N. push reforms to counter authoritarian rise

U.S. Secretary of State Marco Rubio met Russian Foreign Minister Sergei Lavrov on the sidelines of the U.N. General Assembly. The meeting came a day after President Trump appeared to soften his language on the Ukraine war, raising questions about U.S. policy direction.

Manhattan

Ukraine Invasion

Rubio meets Russia's Lavrov after Trump shifts tone on Ukraine war

The family of one of the 67 people killed earlier this year when an American Airlines plane and a  U.S. Army helicopter collided over Washington, D.C., filed a lawsuit against the government and the airline.

Widow of D.C. plane crash victim sues American Airlines, federal gov.

The new Paramount+ documentary "Bodyguard of Lies" highlights the efforts across four presidential administrations to conceal the challenges the U.S. faced during the Afghanistan

New documentary uncovers gov. deception during Afghanistan War

In his address to the U.N. General Assembly, Ukrainian President Volodymyr Zelenskyy warned that Russia wants to expand the war beyond Ukraine.

Putin wants to expand war beyond Ukraine, Zelenskyy warns U.N.

The Trump administration is rehiring hundreds of federal employees who were laid off during cuts made by the Department of Government Efficiency, or DOGE. CBS News' Olivia Rinaldi has more details.

Trump administration rehires hundreds laid off during DOGE cuts

Former French President Nicolas Sarkozy faces up to 10 years in prison if a Paris court convicts him of secretly using funds from the Libyan government of late dictator Moammar Gadhafi to finance his presidential campaign in 2007.

Ex-French President Sarkozy awaits verdict in trial

An international aid flotilla trying to deliver aid to Gaza said on Wednesday (September 24) it was attacked overnight by drones in international waters off Greece, prompting Italy to send a navy ship to come to its assistance.

Italy sends navy ship to help Gaza aid flotilla after drone attack

At least three people were shot at a Dallas Immigration and Customs Enforcement facility on Wednesday morning, officials said. One victim was killed, while two others are injured. The shooter died of a self-inflicted gunshot wound.

Dallas

Three people shot at ICE facility in Dallas, officials say

The U.S. has long argued China should give up the developing-country status because it is the world’s second-largest economy.

China gives up WTO developing-country status as tariff tensions linger

U.S. President Donald Trump reversed his stance on the Ukraine war after meeting President Volodymyr Zelensky at the UN General Assembly, now expressing confidence that Ukraine can reclaim all its territory.

Trump reverses stance on Ukraine after meeting with Zelenskyy

After a six-day suspension, late-night host Jimmy Kimmel broke down in tears during his return to TV with a monologue focused on the importance of the maintaining the right to free speech while still poking fun at the Trump administration.

Los Angeles

Jimmy Kimmel makes emotional return with monologue about free speech

Typhoon Ragasa, the world's most powerful tropical cyclone this year, struck the southern Chinese city of Yangjiang on Wednesday after lashing Taiwan and Hong Kong with ferocious winds and heavy rains.

Yangjiang

Typhoon Ragasa lashes Hong Kong, Taiwan, southern China

Mainland China is bracing for Super Typhoon Ragasa, after the powerful storm caused widespread destruction across the region. In Taiwan, at least 14 people have died in flooding triggered by the cyclone.

Kowloon

Typhoon Ragasa sweeping towards China, 14 killed in Taiwan

A jury has convicted Ryan Routh of attempting to assassinate U.S. President Donald Trump on his Florida golf course last year. He was found guilty of all five charges, which included attempted assassination of a major presidential candidate and assaulting a federal officer.

West Palm Beach

Ryan Routh found guilty of trying to assassinate Trump

U.S. President Donald Trump on Tuesday (September 23) spoke with reporters while meeting with Ukrainian President Volodymyr Zelenskyy at the United Nations General Assembly in New York City.

Trump takes questions during meeting with Zelenskyy

Chipmaker Nvidia said it would invest up to $100 billion in OpenAI, the developer of ChatGPT, as part of a strategic partnership. CBS MoneyWatch correspondent Kelly O'Grady has more details.

Santa Clara

Rise of AI

Nvidia to invest up to $100 billion in OpenAI

For the first time in more than half a century, astronauts will soon be heading back to the moon. CBC's Nicole Mortillaro breaks down the preparations for the mission, Artemis II, which will send astronauts on a historic loop around the moon.

Houston

NASA prepares to send astronauts around the moon

U.S. President Donald Trump addressed the United Nations General Assembly in New York City, where he pushed back on countries that have formally recognized a Palestinian state. Trump also touted U.S. immigration policy.

Trump delivers address at U.N. General Assembly

Southern China and Hong Kong are bracing for Super Typhoon Ragasa as authorities evacuate hundreds of thousands of people. CBS News' Anna Coren has more details.

Hong Kong Island

Super Typhoon Ragasa targets Southern China, Hong Kong

Russian President Vladimir Putin offered to voluntarily maintain the limits on deployed strategic nuclear weapons set in the 2010 New START accord after it expires in February if the U.S. agreed to do the same.

Moscow

Putin offers Trump one-year extension to nuclear weapons treaty

President Trump announced Monday the FDA believes pregnant women should not take acetaminophen, the active ingredient in Tylenol, claiming there could be a link between the medication and autism, despite objections from medical experts.

Breakdown