Three Regional Fed Boards Sought Half-Point Discount Rate Hike
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Directors at three of the Federal Reserve’s 12 regional banks sought a half percentage-point increase in the discount rate last month while the other outposts favored the quarter-point moved that was delivered.
Minutes of discount-rate meetings from Feb. 21 through March 22 released by the Fed Tuesday showed that directors at the Minneapolis, St. Louis and Cleveland Fed boards wanted the bigger increase.