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NY Fed and Atlanta Fed Directors Supported No Change In Discount Rate In July

FED
  • Discount rate discussion minutes from the July FOMC meeting show that Directors of the Federal Reserve Banks of New York and Atlanta voted to hold the discount rate steady ahead of the July FOMC meeting, while the remaining ten regional banks sought to raise the rate 25 basis points to 5.5%.
  • So whilst these are the Board Directors and not Presidents, it gives an indication that the “couple” of FOMC participants noted in the minutes of the July 26 FOMC decision who favored holding the Fed Funds target range steady (or could have supported such a proposal) were Williams (voter) and Bostic ('24 voter).
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