Remarks by Federal Reserve Chair Jerome Powell on Wednesday provided further evidence the central bank plans to slow its aggressive pace of interest rate hikes as soon as next month.Powell noted during a speech at a hybrid Brookings Institution event that the full effects of the Fed's rapid rate increases have yet to be felt."Thus, it makes sense to moderate the pace of our rate increases as we ap...
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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.