In an effort to combat inflation at 40-year highs, the Federal Reserve on Wednesday announced its widely expected decision to raise interest rates for the first time since December of 2018.The Fed said it has decided to raise the target range for the federal funds rate by 25 basis points to 0.25 to 0.5 percent.The central bank also predicted ongoing rate hikes will be appropriate, with the Fed's l...
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Forex 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.