Economy
Fed Releases Minutes From July Discount Rate Review Meetings
The Federal Reserve released minutes from its July meetings reviewing discount rates offered through the discount window.
What happened
The Federal Reserve Board published minutes from meetings held on July 20 and July 29, 2026, where officials reviewed and determined discount rates available to depository institutions through the discount window. The Board stressed that this rate-setting process is separate from the Federal Open Market Committee’s process for setting the federal funds rate target range.
Why it matters
The release clarifies that discount-rate decisions follow a separate process from the Fed’s main interest-rate policy decisions, limiting direct comparisons between the two.
Source: U.S. Federal Reserve