Federal Reserve Board approves actions by the Boards of Directors of the Federal Reserve Banks of Boston, Philadelphia, Richmond, Chicago, St. Louis, Kansas City, Dallas, and San Francisco

The following press release was published by the Board of Governors of the Federal Reserve System on March 3, 2020. It is reproduced in full below.

The Federal Reserve Board has approved actions on Tuesday by the Boards of Directors of the Federal Reserve Banks of Boston, Philadelphia, Richmond, Chicago, St. Louis, Kansas City, Dallas, and San Francisco, decreasing the discount rate (the primary credit rate) at the Banks from 2-1/4 percent to 1-3/4 percent, effective March 4, 2020.

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Source: Board of Governors of the Federal Reserve System