President Donald Trump has signed a Presidential Memorandum to increase the integrity of Federal grant-making by preventing its diversion to political lobbying activities.The Memorandum directs Attorney General Pamela Bondi to investigate whether Federal grant funds are being illegally used to support lobbying activities and to take appropriate enforcement action.The Memorandum further directs the...
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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.