June 16, 2022
Federal Reserve Board approves discount rate actions by the Boards of Directors of the Federal Reserve Banks of Boston, New York, Philadelphia, Cleveland, Richmond, Chicago, St. Louis, Kansas City, and Dallas
For release at 5:30 p.m. EDT
The Federal Reserve Board approved action on Wednesday by the Boards of Directors of the Federal Reserve Banks of Richmond, Kansas City, and Dallas and action on Thursday by the Boards of Directors of the Federal Reserve Banks of Boston, New York, Philadelphia, Cleveland, Chicago, and St. Louis increasing the discount rate, specifically the primary credit rate, at the Banks from 1 percent to 1-3/4 percent, effective immediately.
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