Federal Reserve banks calling for a 0.25 percent hike in discount rate

It is apparent that half of the Federal Reserve banks actually called for a 0.25 percent hike in the discount rate in June in order to place higher rates on loans made to commercial banks.

All Federal Reserve banks of  Richmond Boston and St. Louis called for a raise to the discount rate prior to the weak May jobs report. However, it was not a good month for jobs where just 38,000 jobs were created in May, miles below the consensus of 162,000. However,  Cleveland, Kansas City and San Francisco banks still supported supported raising the discount rate after the weak data.