Two Fed banks supported discount rate rise before May meeting: minutes

A woman walks past the Federal Reserve headquarters in Washington September 16, 2015. REUTERS/Kevin Lamarque

WASHINGTON (Reuters) - Two of the Federal Reserve's 12 regional banks supported raising the discount rate ahead of the central bank's May meeting, according to minutes of the discount rate discussions released on Tuesday.

The Fed did not raise rates in May, and the fact that only two regional banks were pushing to raise the discount rate - charged on emergency loans to banks - shows the scant support for a rate hike as of late April.

The discount rate moves in step with the lower federal funds rate that the central bank sets as its policy target. The request from the Kansas City and Richmond regional banks reflected their sense that rates should be moving higher more quickly.

The Fed is expected to raise rates when it meets on June 13-14.

(Reporting by Howard Schneider; Editing by Andrea Ricci)

You may also interested in

Warriors smash Cavaliers in NBA Finals opener

Jun 2, 2017

US-BASKETBALL-NBA-FINALS:Warriors smash Cavaliers in NBA Finals opener

AstraZeneca shares surge after key drug shows promise in lung cancer trial

May 12, 2017

US-ASTRAZENECA-CANCER:AstraZeneca shares surge after key drug shows promise in lung cancer trial

SEC nominee Clayton to get Senate panel vote April 4

Mar 29, 2017

US-USA-SEC-CLAYTON:SEC nominee Clayton to get Senate panel vote April 4

People also read these

Warriors smash Cavaliers in NBA Finals opener

Jun 2, 2017

US-BASKETBALL-NBA-FINALS:Warriors smash Cavaliers in NBA Finals opener

AstraZeneca shares surge after key drug shows promise in lung cancer trial

May 12, 2017

US-ASTRAZENECA-CANCER:AstraZeneca shares surge after key drug shows promise in lung cancer trial

SEC nominee Clayton to get Senate panel vote April 4

Mar 29, 2017

US-USA-SEC-CLAYTON:SEC nominee Clayton to get Senate panel vote April 4

What's Trending
Weather, 20 December
Houston Weather
+7

High: +11° Low: -2°

Humidity: 83%

Wind: NNE - 7 KPH

Canberra Weather
+27

High: +27° Low: +17°

Humidity: 87%

Wind: W - 20 KPH

Roissy-en-France Weather
+6

High: +6° Low: -5°

Humidity: 87%

Wind: ENE - 7 KPH

Florence Weather
+9

High: +9° Low: +6°

Humidity: 97%

Wind: ENE - 17 KPH

Parga Weather
+7

High: +16° Low: +4°

Humidity: 100%

Wind: SE - 25 KPH