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FinanceFed holds rates, three officials favor hike; gold trims gains
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The Federal Open Market Committee voted 9 to 3 to hold the benchmark federal funds rate at 3.5-3.75%, with three officials dissenting in favor of a quarter-point rate hike. Following the announcement, gold prices pared earlier gains as the market interpreted the decision and dissenting votes as signaling potential future tightening. The split vote highlights internal divisions within the Fed regarding the pace of monetary policy normalization amid ongoing inflation concerns. The article, published by The Business Times on July 30, 2026, covers the immediate market reaction in precious metals to the Fed's decision.
Source report
Published: Thu, Jul 30, 2026 · 07:42 AM
NEW YORK — Gold pared gains after the Federal Reserve left interest rates unchanged, while signaling support for future hikes.
The Federal Open Market Committee voted 9 to 3 to hold the benchmark federal funds rate in a range of 3.5% to 3.75%.
- Three officials dissented in favor of raising rates by a quarter percentage point.
Photo: REUTERS
Source
The Business TimesRegional
Part of this Story
Gold trims gain as Fed holds rates, signals hike support