Fed approves discount rate cuts at three banks

WASHINGTON (Reuters) - The Federal Reserve said on Wednesday it had approved actions by the Fed banks of Kansas City, Chicago and St. Louis to lower the discount rate by a quarter percentage point to 2.25 percent.

The Fed earlier on Wednesday unanimously approved a cut in the discount rate to 2.25 and approved discount rate reduction requests from the Fed banks of New York, Cleveland, Atlanta, and San Francisco.

(Reporting by Mark Felsenthal)