  We report recent measurements from CLEO of the first two moments of the
photon energy spectrum for b -> s gamma decays and the hadronic recoil mass in
B -> X_c l nu. These physical quantities allow one to fix non-perturbative
parameters occurring in calculations based on HQET and QCD. Predictions for
semileptonic decay rates within this same framework depend in addition on the
CKM matrix elements V_qq' governing quark mixing. We can thus extract |V_cb|
from the inclusive semileptonic decay rate of B mesons, and |V_ub| from the
lepton endpoint spectrum of B -> X_u l nu. Model dependence is reduced except
for the assumption of quark-hadron duality. Finally, we update the classic
measurement of |V_cb| from B -> D* l nu at zero recoil.
