After climbing higher early on in the day, the U.S. dollar pared some gains on Wednesday after New York Fed Bank President John Williams said the labor market has to see more progress to get closer to the central bank's maximum employment goal.In the Beige Book released today, the Fed said the U.S. economy "downshifted slightly" in August due to the surge in coronavirus cases.The dollar index, whi...
For comments and feedback contact: editorial@rttnews.com
Forex 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.