Minneapolis Fed joined St. Louis and Cleveland in pushing for 50 basis-point discount-rate hike final month

Three of the Federal Reserve’s regional banks — Minneapolis, St. Louis, and Cleveland — voted final month to lift the {discount} price for banks by 50 basis-points to five%, in accordance with minutes of discount-rate conferences launched by the central financial institution on Tuesday.

Seven district banks voted to lift the speed by 25 foundation factors to 4.75%. Two regional banks, Atlanta and Dallas, voted to go away the {discount} price unchanged at 4.5%.

Many…