Last week, the US Federal Reserve (Fed) interest rate decision, Germany and Euro Zone inflation, and US growth data were followed in global markets. On Wednesday, the Fed increased the policy rate by 75 basis points to 2.25-2.50%. In the text of the resolution, the message that the Fed is highly attentive to inflation risks was repeated. In his press conference after the interest rate decision, Fed Chairman Powell stated that the labor market, which remained tight despite tight financial conditions, indicates that demand is strong. Anticipating that price pressures will decrease in the coming months regarding the course of inflation, Powell reiterated that the pace of interest rate hikes will depend on incoming data and the outlook for the economy. Contrary to expectations, an ounce of gold started to move upwards and was around $ 1,727, while it increased by $ 30 after Powell's statement and was priced at $ 1767. The US economy contracted by 0.9% in the second quarter of the year. The US economy, which contracted by 1.6% in the first quarter as well, entered a technical recession by contracting for two consecutive quarters. Inflation in Germany came in at 8.5% in July, above expectations, while inflation in the Eurozone rose to 8.9%.