Central Banks
Some Regional Fed Directors Sought No Discount Rate Change
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Directors at three of the Federal Reserve’s 12 regional branches voted to hold the discount rate unchanged ahead of the central bank’s meeting last month.
Minutes of discount rate meetings between Nov. 14 and Dec. 14 released Tuesday by the Fed showed directors at Dallas, Richmond and Atlanta voted to hold the rate, which governs direct lending to banks at the Fed’s discount window, at 4%. Directors at the remaining nine regional branches backed a 50 basis point hike.