Asian stocks fell sharply on Thursday after the minutes from the Federal Reserve's most recent meeting suggested that most members of the committee were thinking interest rates would need to go higher due to inflation as well as a tight labor market.
U.S. non-farm payroll data is set to be released on Friday, which would give further indication on how soon the central bank may raise rates. Higher interest rates increase borrowing costs for businesses and consumers, potentially resulting in less spending.
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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.