In a widely anticipated move, Federal Reserve Chair Jerome Powell on Tuesday told members of the Senate Banking Committee the central bank is likely to maintain ultra-easy monetary policy for the foreseeable future.
Powell's prepared remarks largely mirrored recent assessments, indicating interest rates will remain at near-zero levels and the Fed will continue its asset purchases at the current rate until "substantial further progress" has been made toward its goals of maximum employment and price stability.
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Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.