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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 the meeting about the discount rate 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…
