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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: MythMan who wrote (58373)	8/24/1999 3:37:00 PM
From: Cynic 2005	Respond to of 86076

Demonstration of solidarity in Conning the public: -------- Tuesday August 24, 2:49 pm Eastern Time Fed board vote unanimous to raise discount rate WASHINGTON, Aug 24 (Reuters) - The Federal Reserve Board voted 5-0 to boost the discount rate by a quarter percentage point to 4.75 percent, a Fed spokesman said on Tuesday. The move is the first time the highly symbolic discount rate has been increased in more than four years, since Feb. 1 1995. The discount rate is the rate charged to banks when they borrow from their district Federal Reserve banks. The Fed said it was acting in response to requests from the Fed banks of Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Kansas City and San Francisco in raising the discount rate. The Fed banks of Dallas and Minneapolis were not mentioned by the Fed as requesting a discount rate rise. Eventually, all 12 district banks are expected to fall in with the decision to raise the discount rate. biz.yahoo.com