Underscoring discord at the U.S. central over interest-rate policy, directors at half of the Federal Reserve’s regional Fed banks — including those at the influential New York Fed — wanted to keep the emergency lending rate for commercial banks unchanged in July. Directors at the other six regional banks recommended a decrease to the so-called discount rate, records from the discussions showed on Tuesday. Most of those wanted the quarter-point cut that the Fed ultimately decided on at its July 30-31 policy-setting meeting. Minneapolis Fed directors wanted to go further, recommending a half-point cut to the rate. ... (full story)