Federal Reserve Chairman Jerome Powell testified before Congress on Wednesday, reiterating that the central bank is likely to leave interest rates on hold in the near future.Powell told members of the Joint Economic Committee that the Fed would leave rates at their current level unless there is a material change in the economic outlook."We see the current stance of monetary policy as likely to rem...
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.