Predictions building that Fed could cut discount rate at December meeting

A US think tank is forecasting a cut in the Fed’s discount rate, echoing a call made by RBC overnight.

Keep in mind the discount rate is not a policy rate, it is an emegency funding source that banks shy away from using unless they have no alternative. A move to lower the rate, now at 0.75 bp to 50 bp would be more symbolic than anything else…