6 regional Fed banks wanted higher rates in May

Thu Aug 19, 2004

WASHINGTON, Aug 19 (Reuters) - Half of the 12 regional Federal Reserve Banks requested an increase in short-term U.S, interest rates in May, but by the end of June all of them had sought an increase, Fed discount rate meeting minutes released on Thursday said.

In May and early June, the 12 regional Fed banks had been more or less evenly split on the need to raise rates amid strong economic growth and higher prices, and a desire to stand pat and wait for data to confirm the recovery was for real.

 

 

 

 

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