I'm not sure the discount minutes offer much but they do show which way the wind is blowing. The latest edition showed 9 of 12 Fed bank boards seeking a 75 bps hike (as the Fed hiked 75 bps) while 3 wanted just a 50 bps hike.
The outliers were Kansas City, New York and Philly.
Prior to the two previous FOMC meetings, at least one bank also pushed for a 100 bpd hike. No one did this time.
