# Federal Reserve Board - Federal Reserve Board approves action by the Boards of Directors of the Federal Reserve Banks of New York, St. Louis, and Minneapolis

> The Federal Reserve Board approved actions by the boards of the New York, St. Louis and Minneapolis Federal Reserve Banks raising the discount rate, also called the primary credit rate, from 1.5% to 1.75%. The change took effect immediately.

- Date: 2017-06-15 · published 2017-06-15T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/70399-federal-reserve-board-federal-reserve-board-approves-action-by-the-boards-of
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A higher discount rate tightens short-term bank funding costs and reinforces the Fed's hawkish stance, supporting the dollar and weighing mildly on commodity prices and feed-buying appetite through financing costs.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-05-14 | [The Federal Reserve and U.S. Treasury Did Not Intervene in FX Markets During the First Quarter - FEDERAL RESERVE BANK of NEW YORK](https://feedsoft.ai/events/53331-the-federal-reserve-and-u-s-treasury-did-not-intervene-in-fx-markets-during-the.md) | -1.2% | -3.5% |
| DXY | 2022-01-27 | [Bond yields rise, rupee falls on US Federal Reserve policy and crude prices \| News on Markets - Business Standard](https://feedsoft.ai/events/43416-bond-yields-rise-rupee-falls-on-us-federal-reserve-policy-and-crude-prices-news.md) | +0.1% | +0.7% |
| DXY | 2016-11-11 | [Speech by Vice Chairman Fischer on U.S. monetary policy from an international perspective - Federal Reserve Board](https://feedsoft.ai/events/73749-speech-by-vice-chairman-fischer-on-u-s-monetary-policy-from-an-international.md) | +1.4% | +0.8% |
| DXY | 2025-01-03 | [Interest rates, exporters and Reserve Bank intervention: There's a lot at stake as the Australian dollar weakens - ABC News](https://feedsoft.ai/events/26751-interest-rates-exporters-and-reserve-bank-intervention-there-s-a-lot-at-stake.md) | -0.1% | -0.8% |
| DXY | 2017-03-12 | [Canadian bonds, loonie brace for U.S. Federal Reserve rate hike - The Globe and Mail](https://feedsoft.ai/events/72217-canadian-bonds-loonie-brace-for-u-s-federal-reserve-rate-hike-the-globe-and-mail.md) | -1.1% | -1.3% |

## Sources

- federalreserve.gov: https://www.federalreserve.gov/newsevents/pressreleases/monetary20170615a.htm

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.