The Board of Governors of the Federal Reserve System voted unanimously to raise the interest rate paid on reserve balances to 4.65 percent, effective February 2, 2023. The Federal Open Market Committee voted to authorize and direct the Open Market Desk to execute transactions in the System Open Market Account.
Board of Governors of the Federal Reserve System voted unanimously to raise the interest rate paid on reserve balances to 4.65 percent, effective February 2, 2023 . Board approved requests to establish that rate submitted by the Boards of Directors of the . Federal Reserve Banks of Boston, New York, Philadelphia, Richmond, Atlanta, Chicago, Kansas City, Dallas, and San Francisco .
