By Andy Medici Companies are dialing back pay raises in 2025, an expected outcome of a continually cooling labor market. That means workers should expect, on average, 3.5% pay increases in 2025 compared to the average 3.6% seen so far in 2024, according to the latest Payscale Salary Budget survey. Those are both down from the 4% average pay […]
By Nick Timiraos While Federal Reserve officials aren’t likely to change interest rates in the coming week, their meeting will nonetheless be one of the most consequential in a while. At each of their four meetings this year, interest-rate cuts have been a question for later. This time, though, inflation and labor-market developments should allow officials to signal […]
By Mitchell Parton As retailers push into new cities and brands lean hard into brick-and-mortar as a strategy, it has become incredibly difficult to find space for a new storefront. Financing constraints due to elevated interest rates as well as zoning and infrastructure restrictions in some jurisdictions have limited construction of retail developments, limiting the amount of space on the […]
By Michael Mackenzie and Liz Capo McCormick Bond traders are piling into bets that the US economy is on the verge of deteriorating so quickly that the Federal Reserve will need to start easing monetary policy aggressively — potentially before their next scheduled meeting — to head off a recession. Previous worries about the risk of elevated inflation have virtually disappeared, swiftly […]
By Catarina Saraiva and Ananya Chag Federal Reserve Bank of Chicago President Austan Goolsbee emphasized the central bank will not overreact to any one report, adding policymakers will get a lot of data prior to the Fed’s next meeting. Goolsbee, who spoke on the heels of the release of a weaker-than-expected employment report, said it’s the Fed’s job to figure out […]
By Dana Gerber Welch’s is pouring one out for Concord, Mass., the town where Ephraim Wales Bull first cultivated its namesake grape in 1849, as it prepares to move its headquarters about 10 miles southeast to Waltham. The fruit juice company announced plans on Wednesday to relocate its headquarters to a 60,000-square-foot space in Waltham’s […]
By Greg Ryan A Flatiron partner did not immediately respond to a request for comment on the filing. The filing refers to the proposed Brighton development as Project Lite Brite. The Electric Avenue property is 2.8 acres that now feature buildings that total 27,000 square feet and more than 100 parking spaces. Flatiron is also seeking […]
By Maya Shavit With diplomas in hand, a mass exodus of recent college graduates could be leaving Boston even though they love it here. In Boston and across the country, average rent peaked at more than $4,000 in 2022, at the tail-end of the Covid-19 pandemic. The last time that it was cheaper to buy than […]
By Eli Chavez A Cambridge-based startup that recovers critical metals from mining and factory operations has closed its seed round with a total of $11.8 million led by the sustainability-focused VC firm 2150, with participation from several other ventures. Brendan Smith and Jeffrey Grossman founded SiTration at MIT during their doctorate and postdoctoral work in 2014. […]
By Jeanna Smialek What to know about the Fed’s decision. Federal Reserve officials left interest rates unchanged in their June decision and predicted that they will cut borrowing costs just once before the end of 2024, a sign that they plan to be patient before turning a corner in their fight against rapid inflation. Central bankers lifted interest rates […]
