The Federal Reserve released the minutes of its January monetary policy meeting Wednesday afternoon, reiterating the view that it would "soon be appropriate" to begin raising interest rates.
The belief that interest rate liftoff should begin soon comes as participants noted that inflation continues to run well above 2 percent and that the labor market has made substantial, broad-based progress over the past year.
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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.