Investors were seeking clarity about the outlook for interest rates from a Jackson Hole economic symposium but found little from Federal Reserve Chair Jerome Powell, who compared monetary policy to "navigating by the stars under cloudy skies."
While Powell reiterated the Fed's target of 2 percent inflation, he called it "challenging" to know when monetary policy is restrictive enough to "know in real time when such a stance has been achieved."
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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.