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Minneapolis Fed joined St. Louis and Cleveland in pushing for 50 basis-point discount-rate hike last month
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Three of the Federal Reserve’s regional banks — Minneapolis, St. Louis, and Cleveland — voted last month to raise the discount rate for banks by 50 basis-points to 5%, according to minutes of discount-rate meetings released by the central bank on Tuesday.
Seven district banks voted to raise the rate by 25 basis points to 4.75%. Two regional banks, Atlanta and Dallas, voted to leave the discount rate unchanged at 4.5%.
Many…
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