According to CoinMeta, four regional Federal Reserve Banks sought to raise the discount rate before the Federal Open Market Committee (FOMC) meeting in July. Meeting minutes indicated a hawkish傾向. Although Jeff Schmidt, the president of the Kansas City Fed, does not have a voting role in policy this year and his views were not reflected in the public vote, this further reinforces the stance reflected in the minutes, which supports tightening measures despite the objections of three official dissenters. While this detail is unlikely to significantly affect market pricing on its own, it increases the pressure on Federal Reserve Chairman Kevin Walsh to provide a reasonable explanation for maintaining interest rates unchanged during his speech at Jackson Hole.