Could the Fed Hike the Discount Rate on Monday?
The Federal Reserve holds a discount rate meeting on Monday. There is some speculation that the 75 bp discount rate could be lifted. At the September meeting, which is not the same at the FOMC meeting five of the 12 regional Federal Reserve banks voted into favor a raising the discount rate. One favored cutting it. The economic data has generally strengthened since then. The FOMC statement last month and the subsequent official comments have indicated that most officials appear on board with a December rate hike, barring a shock. The discount rate is set by each of the regional Federal Reserves subject to the review ... (full story)