[Federal Reserve Releases Minutes of January 2026 Discount Rate Meetings] The Federal Reserve Board on Tuesday released the minutes of the discount rate meetings held on January 20 and 28, 2026, during which the discount window rates offered to depository institutions were reviewed and decided. The process of setting the discount rate differs from the process used by the Federal Open Market Committee to set the target range for the federal funds rate. Media inquiries can be directed to media@frb.gov or by phone at 202-452-2955.