For immediate release

The Federal Reserve Board on Monday approved actions by the Boards of Directors of the Federal Reserve Banks of Boston, New York, Philadelphia, Cleveland, Atlanta and Kansas City, decreasing the discount rate at the bank from 3 percent to 2-1/2 percent, effective immediately. The Board also approved action by the Board of Directors of the Federal Reserve Bank of St. Louis, decreasing the discount rate at that bank from 3 percent to 2-1/2 percent, effective Tuesday September 18, 2001.

2001 Monetary policy