Boston Fed Joins Eight Other Banks in Seeking Discount-Rate Rise
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The Federal Reserve Bank of Boston joined eight other reserve banks in requesting a quarter percentage-point increase in the discount rate before the Oct. 27-28 meeting of the Federal Open Market Committee.
Directors of the nine regional banks seeking the increase to 1 percent saw the move as warranted “in light of the improvements in labor market conditions this year and their expectations for inflation to rise gradually” toward the Fed’s 2 percent target, according to minutes of the Oct. 26 Fed Board meeting released Tuesday in Washington.