Directors at four of the Federal Reserve's 12 regional banks backed an increase in the emergency lending rate charged to commercial banks in the days before the U.S. central bank's July policy meeting, highlighting the disagreement surrounding the decision to keep interest rates unchanged, Reuters reported.
Minutes from the regional banks' discount rate meetings, released Tuesday, showed that directors at the Dallas, Cleveland, Minneapolis and Kansas City Federal Reserve banks recommended raising the primary credit rate by a quarter of a percentage point.
