Three Fed banks renewed call for discount rate hike: minutes

April 14, 2015 6:01 PM

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Three Fed banks renewed call for discount rate hike: minutes

WASHINGTON (Reuters) - Three regional Federal Reserve banks early this year continued their long-standing and unsuccessful push to convince the central bank to raise the rate it charges commercial banks for emergency loans, meeting minutes released on Tuesday showed.

Ahead of the Fed's March 17-18 policy-setting meeting, directors of the Philadelphia, Kansas City and Dallas Fed banks asked the Fed's board to bump up the discount rate to 1 percent from 0.75 percent, according to the minutes of Fed board meetings.

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