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Latest Headlines in Economy


Jerome Powell, chairman of the Federal Reservice Board of Governors, appears before the Senate Banking Committee in Wahsington on Feb, 12, 2020.

Senate confirms Jerome Powell for 2nd term as Fed fights inflation

The 80-19 vote reflected broad support in Congress for the Fed’s drive to combat surging prices through a series of sharp interest rate hikes that could extend well into next year.

A Bitcoin logo on a screen in the window of a cryptocurrency exchange kiosk in Istanbul, Turkey, on Tuesday, April 26, 2022.

Biggest stablecoin loses dollar peg as crypto anxiety spreads

Tether, the largest of the stablecoins used in cryptocurrency markets to facilitate trading, briefly dropped to the lowest level since December 2020.

Larry Edelman
Gas prices hit a record high in Massachusetts on Wednesday, a sign inflation will be around for a while.

Inflation will abate. Just don’t hold your breath.

The growth in consumer prices may have peaked, but there’s a long way to go before we’re back to normal.

An Instacart shopper at a grocery store in Manhattan, April 30, 2020.

US inflation hit 8.3 percent last month but slows from 40-year high

On a month-to-month basis, prices rose 0.3 percent from March to April, a still-elevated rate but the smallest increase in eight months.

Larry Edelman
The ultralow unemployment rate isn't sustainable.

No idea where the economy is headed? You’re not alone.

This week brought a blast of economic data but precious little clarity on what it all means.

The New York Stock Exchange logo adorn trading posts, on the floor, Wednesday, March 16, 2022.  Stocks are opening lower on Wall Street Thursday, May 5,  giving up some of the big gains they made a day earlier. Technology companies were leading the declines.

Stocks tumbled Thursday, erasing gains from a day earlier

The S&P 500 fell 3.6 percent Thursday, after surging 3 percent on Wednesday. The Nasdaq composite slid 5 percent, its biggest drop since June 2020.

A "Now Hiring" sign outside a Home Depot store in New York..

More Americans applied for jobless aid last week

Jobless claims in the US rose by 19,000 to 200,000 for the week ending April 30, the Labor Department reported Thursday.

Children’s shoes are seen in the window display of Michelson's Shoes in Lexington.

As inflation soars, the price of kids’ shoes is soaring even faster. Here’s why.

The cost of sneakers, cleats, and flats that kids outgrow every few months offer a window into the mechanics of pandemic-era inflation.