The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM Statement for the Press For immediate release August 24, 1950. The Board of Governors of the Federal Reserve System today approved the action of the Federal Reserve Bank of Richmond in increasing its discount rate from 1-1/2 per cent to 1-3/4 V e r cent, effective Friday, August 25* 1950.