In the early days of the Fed, the discount rate, the rate at which the regional Federal Reserve banks would lend to commercial banks, was determined by the

Name: In the early days of the Fed, the discount rate, the rate at which the regional Federal Reserve banks would lend to commercial banks, was determined by the
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The discount rate was determined by the regional Federal Reserve banks, allowing them to address the specific credit conditions in their regions.

In the Early Days of the Fed, the Discount Rate