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Five Fed Banks Renew Calls for Discount Rate Hike: Minutes

Image: Five Fed Banks Renew Calls for Discount Rate Hike: Minutes
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Tuesday, 25 Aug 2015 02:58 PM

Five Federal Reserve banks renewed their calls in July for the central bank to raise the rate it charges commercial banks for emergency loans, minutes from the Fed's discount rate meeting last month showed.

Ahead of the Fed's July 28-29 policy-setting meeting, directors of the Cleveland, Dallas, Philadelphia, Kansas City and Richmond Fed banks asked the Fed's board to bump up the discount rate to 1 percent from 0.75 percent, according to the minutes, which were released on Tuesday.

The board opted to hold the rate steady, a stance that was backed by six other regional Fed banks. The Minneapolis Fed voted again to slash the rate to 0.5 percent.

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Five Federal Reserve banks renewed their calls in July for the central bank to raise the rate it charges commercial banks for emergency loans, minutes from the Fed's discount rate meeting last month showed.
federal reserve, bank, rates, minutes
110
2015-58-25
Tuesday, 25 Aug 2015 02:58 PM
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