This discount-rate pass-through maneuver happened roughly half a dozen times over a three-year period around 1989-91, and it is verifiable by examining the record for instances where the Tuesday FOMC made no funds-rate change but a Friday discount-rate change was followed by a funds-rate pass-through.
factualpending
Speaker
Michael BelongiaEvidence Quote
“there's about a half dozen maybe more occasions where this happened over about a three year period between about 89 and 91”
Created: 6/15/2026, 9:37:51 AM
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