St. Louis Fed joins regional boards in push for rate hike
The boards of nine of 12 regional Federal Reserve banks, including that of the St. Louis Fed, sought an increase last month in the rate on direct loans from the central bank.
The proposed increase, to 1.25 percent from 1 percent, was revealed in minutes released Tuesday, Bloomberg reports. St. Louis joined Atlanta, Boston, Philadelphia, Cleveland, Richmond, Kansas City, Dallas and San Francisco in asking for the discount rate increase, while the boards of the New York, Minneapolis and Chicago Feds...