U.S. Federal Reserve Holds Interest Rate at 3.75%-4.00% by 10-2 Vote

The U.S. Federal Reserve's Board of Governors held the federal funds rate in a range of 3.75% to 4.00%, with the decision carried by a vote of 10 to 2; Board member Lisa Cook and Cleveland Federal Reserve President Beth Hammack voted in favor of raising the rate by 25 basis points.

The announcement triggered sharp volatility in gold and currency markets. Gold initially retreated to 4,030 dollars per ounce before rebounding to 4,065 dollars at 21:42 Turkey time, having been recorded at 4,037 dollars in the morning session at 07:11. Gold per gram fell to 6,456 lire before climbing to 6,510 lire, settling at 6,467 lire in the morning session.

Silver also posted a decline to 53.44 dollars per ounce following the decision, before recovering to 54.00 dollars and continuing its weakness at 53.15 dollars in the morning. The dollar index stood at 102.250 points following the decision, then rose to 102.58 points at 21:42, settling at 102.143 points in morning trading at 07:11.

Federal Reserve Chair Kevin Warsh announced that the bank will restructure the schedule of the Federal Open Market Committee (FOMC) starting in 2028, dedicating only 6 meetings out of 8 annually to interest rate decisions. Warsh stressed that "our responsibility is to reduce inflation," emphasizing that monetary policy will be shaped according to forthcoming economic data.