US Federal Reserve Chair Kevin Warsh appeared before the House Financial Services Committee on the first day of presenting his semiannual monetary policy report, in a session that lasted about three hours during which he answered committee members' questions.

Asked how price stability could be achieved in the short term with the current tools, Warsh said they wanted economic growth to be broader-based and inflation to remain limited, noting that many factors lie beyond the Federal Reserve's direct control, such as conflicts abroad.

Warsh said inflation is a "choice," explaining that restoring price stability rests on three pillars, the first being reaffirming the commitment to price stability and the second taking full responsibility. "This is not the time to shift responsibility or blame others. The Federal Reserve can restore price stability and it will," he said, noting that the bank has sufficient tools to achieve that goal through interest-rate policy and the balance sheet.

Hussein Taklaji, President of the Turkish Federation of Wood Shop Owners and Trade Unions (TAİF), confirmed that the new cooperation opportunities resulting from the NATO summit held in Ankara will also contribute to supporting the Turkish furniture sector.

Taklaji explained that the sector can play a greater role in supplying wood products used in the defense industries in particular, noting that the NATO summit brings together 40 countries with a total economic size of about 70 trillion dollars, which provides important strategic opportunities for the Turkish economy.

He pointed out that the summit represents a strategic platform for export-based growth and international cooperation for the furniture sector, pointing to the importance of foreign exchange earnings for the balance of the current account and the labor market.

The Istanbul Stock Exchange has taken a decision to activate the “upward step” rule to regulate short selling operations.

This regulatory measure aims to reduce the sharp fluctuations in the financial markets and protect the stability of trading, especially in light of the fluctuations witnessed in global markets as a result of the current geopolitical tensions.

Investors are awaiting the impact of this new measure on the trading movement on the Istanbul Stock Exchange during the coming period.