Federal Reserve Board approves discount rate action by the Boards of Directors of the Federal Reserve Banks of New York, Minneapolis, and San Francisco

The following press release was published by the Board of Governors of the Federal Reserve System on Sept. 22. It is reproduced in full below.

The Federal Reserve Board approved action on Thursday by the Boards of Directors of the Federal Reserve Banks of New York, Minneapolis, and San Francisco increasing the discount rate, specifically the primary credit rate, at the Banks from 2-1/2 percent to 3-1/4 percent, effective immediately.

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Source: Board of Governors of the Federal Reserve System