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Four Fed banks called for discount rate hike - minutes
May 24, 2016 / 6:06 PM / 2 years ago

Four Fed banks called for discount rate hike - minutes

WASHINGTON, May 24 (Reuters) - The number of Federal Reserve banks pushing the central bank to raise the rate it charges commercial banks for emergency loans rose to four in April from two in March, minutes from the Fed’s discount rate meeting showed.

The Kansas City and Richmond Federal Reserve banks renewed calls for an increase in the main lending rate for banks ahead of the Fed’s last policy meeting, and were joined by Cleveland and San Francisco.

The Fed opted to hold the discount rate steady last month at 1 percent.

Reporting by Lindsay Dunsmuir; Editing by Andrea Ricci

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