One of the Fed's Most Hawkish Districts Just Took a Dovish Turn

Several of the Federal Reserve’s 12 regional banks, including the normally hawkish Kansas City Fed, sought no increase in the discount rate ahead of the U.S. central bank’s meeting this week.

Excluding directors at the New York Fed, who traditionally hold off on such a vote until after Fed policy meetings, the decision by a regional Fed board to favor or oppose a discount rate move typically falls in line with the views of that bank’s president regarding proposed changes to the Fed’s benchmark policy rate.