Four Fed bank boards wanted rate hike, minutes show
TLT•Fed discount rate boards recommended higher rate
Aug. 25 (Reuters) - Directors at four of the Federal Reserve's 12 banks voted to increase the interest rate charged to commercial banks for emergency loans in the days before the U.S. central bank's July meeting, minutes of the central bank's discount rate meetings released on Tuesday showed.
The rate recommendations, overruled when Fed policymakers decided in a 9-3 vote to leave the policy rate unchanged at their July 28-29 meeting, provide a fresh window into how contested that decision.
