President Joe Biden said the United States as well as its allies and partners will be imposing severe sanctions on Russia over its invasion of Ukraine.Biden has scheduled a virtual meeting with G7 Leaders at 9 a.m ET Thursday to discuss the ongoing situation with regard to Russia and Ukraine.Secretary of State Antony Blinken and Secretary of the Treasury Janet Yellen will attend the meeting.The P...
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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.