Asian stock markets are trading in the green on Monday, following the broadly positive cues from Wall Street on Friday, reacting to U.S. Federal Reserve Chairman Jerome Powell's remarks at the Jackson Hole symposium on Friday. However, the upside is limited as traders remain anxious amid the coronavirus situation in the region and in several countries, which continues to stifle economic activity. Asian markets closed mixed on Friday.
Powell said the central bank is likely to begin tapering some of its easy-money policies before the end of the year, but added that the bank is unlikely to hike interest rates anytime soon. He added that the economy has reached a point where it no longer needs as much policy support, but felt there's "much ground to cover" before rate hikes.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.