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Latest Headlines in Economy

Charles James, co-owner of CrimsonBikes in Cambridge, trains sales runner Solomon Sakakeeny-Smith. Bike shops have been dealing with shortages during the pandemic.

Shopping for a bike leaves some spinning their wheels

For the second year in a row, retailers are struggling to keep up with consumer demand.

A pedestrian walks along a near-deserted street on Thursday during a lockdown imposed to try and contain the spread of COVID-19 in Mumbai.

India and other virus hot spots across the globe could disrupt the economic recovery in Massachusetts

Mumbai is half a world away from Massachusetts, but the deepening COVID-19 crisis there, and throughout India, drives home how much we’ve got riding on other nations getting the pandemic under control.

Nancy Donnelly from South Boston shopping at the L.L.Bean store in the Seaport District in Boston.

US economy grew at a robust 6.4 percent rate last quarter as recovery from pandemic accelerated

Economists say that widespread vaccinations, the reopening of more businesses, a huge infusion of federal spending and healthy job gains should help sustain steady growth.

Ristorante Lucia restaurant's owner, Philip Frattaroli sets up tables in the courtyard.

US jobless claims drop to 553,000, another record low since the start of the pandemic

Employers are beginning to complain that they can’t find workers — despite an elevated unemployment rate. Americans may be reluctant to return to work because they still fear contracting the virus or because they need to care for children who haven’t returned to school.

The Marriner S. Eccles Federal Reserve building in Washington, D.C.

Fed keeps key rate near zero, sees inflation as ‘transitory’

The Federal Reserve is keeping its ultra-low interest rate policies in place, a sign that it wants to see more evidence of a strengthening economic recovery before it would consider easing its support.

Diners and strollers on Newbury Street enjoy the spring weather.

Unemployment claims in Mass. hit record low since the start of the pandemic; US claims dip to 547,000

In Massachusetts, about 12,900 individuals filed new claims for unemployment benefits, down roughly 1,550 from the week prior.

A runner passes the office of the California Employment Development Department in Sacramento.

Massachusetts unemployment claims hit pandemic low; US claims dip to 576,000

The Labor Department said Thursday that applications plummeted by 193,000 from a week earlier. Jobless claims are now down sharply from a peak of 900,000 in early January.

Larry Edelman
The president of the Federal Reserve Bank of Boston, Eric Rosengren (left foreground), and Fed chairman Jerome Powell both  forecast a strong economic recovery.

The Fed is ‘running the economy hot’ to avoid another jobless recovery

Vaccinations, federal stimulus, and more tolerance for inflation should spark an unusually strong recovery, Federal Reserve Bank of Boston president Eric Rosengren says.