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6 Fed banks wanted 0.25% hike in discount rate in June

July 14, 2016

Via: CNBC

Six Federal Reserve banks wanted to raise the discount rate in June despite a shockingly weak May jobs report.

The banks of Cleveland, Kansas City and San Francisco supported the hike after the U.S. only created 38,000 jobs in May, far below economist estimates of 162,000.

The Federal Reserve banks of Boston, Richmond and St. Louis voted for a 0.25 percent hike in the discount rate before the May jobs report.

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