Directors of the Chicago and New York Federal Reserve Banks voted in favor of lowering the discount Intrerest Rate at their July meeting.

On August 28th, Jin10 Data reported that the minutes of the Federal Reserve's discount Intrerest Rate meeting on Tuesday showed that the board members responsible for supervising the Chicago and New York Fed voted in July to lower the discount Intrerest Rate by 25 basis points. In the previous month's vote, 10 of the 12 regional Feds wanted to maintain the discount Intrerest Rate at 5.5%, while the Chicago and New York Feds wanted to lower it to 5.25%. The Fed kept the Intrerest Rate target range at 5.25%-5.5% and kept the discount Intrerest Rate at 5.5% at the July monetary policy meeting.