Rishi Sunak on Tuesday officially took over as Britain's 57th Prime Minister, becoming the country's third leader in seven weeks.In his first speech to the nation from No. 10 Downing Street, Sunak said the U.K. is facing a "profound economic crisis" and that he has been chosen as the new Conservative leader to fix some of the mistakes committed by his predecessor Liz Truss.Sunak said there are "di...
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Political 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.